Risk managers use their quantitative, financial, analytical, and technology skills to identify, study, and work to reduce risks (e.g., risky investment strategies, Information Technology, and compliance) at wealth management firms. They are also known as chief risk officers, risk officers, and risk analysts.
Minimum Education Level
Risk managers earned median annual salaries of $111,765 in 2020, according to Salary.com. Earnings ranged from $83,348 to $142,656 or more. According to RIMS-The Risk Management Society, risk professionals at all levels saw their base compensation decline an average of 1.7 percent from 2017 to 2019. Chief risk officers, who earned median annual salaries of $198,900 in 2019, were an exception; t...
Many financial managers (including risk managers) work more than 40 hours per week, according to the U.S. Department of Labor. This career can be both rewarding (when risk managers are able to identify areas of risk that could have caused major issues for their firm) and sometimes stressful (when the firm’s executives do not agree with the opinions of the risk manager, or if he or she fails to ...
Employment for financial managers who work for firms that manage funds, trusts, and other financial vehicles will grow by 15 percent through 2029, according to the U.S. Department of Labor (DOL), or much faster than the average for all careers.
"Several specialties within financial management, particularly cash management and risk management, are expected to be in high demand over the de...