Vice President (VP), Risk Management Salary
A Vice President (VP), Risk Management earns an average salary of $129,468 per year. Most people in this job have more than five years' experience in related jobs.
|Salary||$90,577 - $178,082|
|Bonus||$6,953 - $54,614|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$96,841 - $220,707|
Job Description for Vice President (VP), Risk Management
Vice presidents (VPs) of risk management are responsible for overseeing a company’s risk management department and ensuring that all procedures, protocols, and strategies are fully implemented to protect the company and its assets. Strong interpersonal and communication skills are important in this position to communicate effectively with employees both within and outside the company.Read More...
These VPs coordinate with the risk committee on a regular basis and help to develop and oversee the implementation of new strategies to effectively reduce risks taken by the company. They may also help to develop and enforce company policies and procedures to assist in effective monitoring. Risk management VPs work closely with other executives, as well as management and team leaders, to ensure open lines of communication at all times, and they may also be responsible for performing regular risk-assessments and presenting results and recommendations to the executive board for improvement.
Candidates for this position must maintain all required annual training and licenses, and risk management VPs also coordinate with the human resources (HR) department, managerial staff, and the executive board to ensure that all employees are up-to-date with industry standards. They typically have direct impacts on risk-exposure for the company and must maintain the proper level of professionalism at all times. (Copyright 2017 PayScale.com)
Vice President (VP), Risk Management Tasks
- Lead and manage company risk management programs.
- Promote a culture of risk awareness and accountability through training.
- Facilitate work relationships across departments.
- Develop and direct claims processing procedures.
- Direct risk measurement and monitoring processes and communicate results and recommendations.
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Pay by Experience Level for Vice President (VP), Risk Management
Pay by Experience for a Vice President (VP), Risk Management has a positive trend. An entry-level Vice President (VP), Risk Management with less than 5 years of experience can expect to earn an average total compensation of $118,000 based on 22 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Risk Management with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $140,000 based on 74 salaries. An experienced Vice President (VP), Risk Management which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $152,000 based on 105 salaries. A Vice President (VP), Risk Management with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $163,000 based on 60 salaries.
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