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Finance | Risk Manager

Risk Manager

What Does a Professional in this Career Do?

A Risk Manager evaluates risk and recommends and manages strategies to mitigate or offset risks that could result in financial losses for a company or organization. Analyzes current risks and assesses potential new risks. Reviews contracts and insurance policies; prepares risk budgets. Communicates risk policies and procedures to staff at all levels of a company.

Job Outlook

There were 1155 Risk Manager job postings in North Carolina in the past year and 33404 in the United States.

In combination with other careers in the Risk Manager / Analyst industry, which includes the Risk Manager career, the following graph shows the number of people employed for each year since 2015:

Salary

Many new Risk Manager jobs have salaries estimated to be in the following ranges, based on the requirements and responsibilities listed in job postings from the past year.

National

The average estimated salary in the United States for this career, based on job postings in the past year, is $111,138.

State

The average estimated salary in North Carolina for this career, based on job postings in the past year, is $112,661.

Percentiles represent the percentage that is lower than the value. For example, 25% of estimated salaries for Risk Manager postings in the United States in the past year were lower than $87,954.

Education and Experience

Posted Risk Manager jobs typically require the following level of education. The numbers below are based on job postings in the United States from the past year. Not all job postings list education requirements.

Education LevelPercentage
Associate's Degree3.75%
Bachelor's Degree73.26%
Master's Degree27.44%
Doctoral Degree4.54%
Other6.73%

Posted Risk Manager jobs typically require the following number of years of experience. The numbers below are based on job postings in the United States from the past year. Not all job postings list experience requirements.

Years of ExperiencePercentage
0 to 2 years13.69%
3 to 5 years46.34%
6 to 8 years24.62%
9+ years15.36%

Skills

Below are listings of the most common general and specialized skills Risk Manager positions expect applicants to have as well as the most common skills that distinguish individuals from their peers. The percentage of job postings that specifically mention each skill is also listed.

Baseline Skills

A skill that is required across a broad range of occupations, including this one.

  • Management (59.77%)
  • Communication (44.61%)
  • Leadership (32.86%)
  • Operations (26.47%)
  • Governance (22.72%)
  • Problem Solving (19.96%)
  • Presentations (18.26%)
  • Microsoft Excel (17.32%)
  • Writing (17.18%)
  • Detail Oriented (16.9%)

Defining Skills

A core skill for this occupation, it occurs frequently in job postings.

  • Risk Management (78.1%)
  • Risk Analysis (26.93%)
  • Enterprise Risk Management (ERM) (10.32%)
  • Auditing (27.88%)
  • Credit Risk (7.97%)
  • Finance (22.39%)
  • Operational Risk (11.34%)
  • Project Management (24.13%)

Necessary Skills

A skill that is requested frequently in this occupation but isn’t specific to it.

  • Internal Controls (8.55%)
  • Underwriting (7.8%)
  • Economics (9.12%)
  • Mitigation (11.41%)
  • Financial Services (14.73%)
  • Internal Auditing (11.57%)
  • Accounting (13.55%)
  • Data Analysis (12.93%)
  • Regulatory Requirements (4.4%)
  • Process Improvement (9.16%)
  • Stakeholder Management (1.36%)
  • Business Process (7.63%)
  • Risk Appetite (8.92%)
  • Cyber Security (8.39%)
  • Regulatory Compliance (10.61%)
  • Risk Mitigation (13.49%)
  • Python (Programming Language) (5.58%)

Distinguishing Skills

A skill that may distinguish a subset of the occupation.

  • Cyber Risk (5.39%)
  • Credit Risk Management (2.5%)
  • Third Party Risk Management (4.13%)
  • Key Risk Indicator (3.7%)
  • Financial Risk (3.69%)
  • Risk Awareness (1.54%)
  • Model Validation (1.67%)
  • Emerging Risk (7.05%)
  • Market Risk (3.72%)
  • Operational Risk Management (5.91%)
  • Risk Modeling (3.06%)
  • Scenario Analysis (1.56%)
  • Risk Register (1.63%)
  • Risk Governance (3.48%)
  • Financial Stress Testing (3.94%)

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills. The percentage of job postings that specifically mention each skill is listed.

  • Risk Modeling (4.38%)
  • Credit Risk (11.39%)
  • Emerging Risk (10.07%)
  • Financial Stress Testing (5.63%)
  • Risk Awareness (2.2%)
  • Enterprise Risk Management (ERM) (14.75%)
  • Credit Risk Management (3.58%)
  • Auditing (39.85%)
  • Finance (32%)
  • Financial Risk (5.27%)
  • Key Risk Indicator (5.29%)
  • Market Risk (5.31%)
  • Project Management (34.49%)
  • Operational Risk (16.2%)
  • Operational Risk Management (8.45%)
  • Risk Governance (4.98%)
  • Risk Register (2.33%)
  • Scenario Analysis (2.23%)
  • Model Validation (2.38%)

Alternative Job Titles

Sometimes employers post jobs with Risk Manager skills but a different job title. Some common alternative job titles include:

  • Risk Management Manager
  • Enterprise Risk Manager
  • Risk Management Analyst
  • Compliance Risk Manager
  • Third Party Risk Manager
  • Risk Management Specialist
  • Credit Risk Manager
  • Operational Risk Manager
  • Risk and Compliance Manager

Similar Occupations

If you are interested in exploring occupations with similar skills, you may want to research the following job titles. Note that we only list occupations that have at least one corresponding NC State Online and Distance Education program.

Common Employers

Here are the employers that have posted the most Risk Manager jobs in the past year along with how many they have posted.

United States

  • Citigroup (2005)
  • Deloitte (1007)
  • Capital One (912)
  • JPMorgan Chase (851)
  • PricewaterhouseCoopers (556)
  • US Bank (534)
  • Wells Fargo (518)
  • Edward Jones (464)
  • KPMG (438)
  • Leidos (261)

North Carolina

  • Wells Fargo (135)
  • Truist Financial (47)
  • First Citizens Bank (44)
  • PricewaterhouseCoopers (42)
  • US Bank (34)
  • Bank of America (29)
  • Deloitte (29)
  • First Citizens Bank And Trust Company (28)
  • USAA (28)
  • Ally Financial (26)

NC State Programs Relevant to this Career

If you are interested in preparing for a career in this field, the following NC State Online and Distance Education programs offer a great place to start!