As of March 01, 2025, the average annual salary for a Head of Risk Management in Benedict, MD is $310,250. Salary.com reports that pay typically ranges from $265,500 to $358,290, with most professionals earning between $224,757 and $402,028.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $358,290 | $29,858 | $6,890 | $172 |
| Average | $310,250 | $25,854 | $5,966 | $149 |
| 25th Percentile | $265,500 | $22,125 | $5,106 | $128 |
An entry-level Head of Risk Management with under 1 year experience makes about $281,722. With less than 2 years of experience, a mid-level Head of Risk Management makes around $285,665. After 2-4 years, the Head of Risk Management pay rises to about $290,922. Those senior Head of Risk Management with 5-8 years of experience earn roughly $298,809, and those Head of Risk Management having 8 years or more experience are expected to earn about $308,667 on average.
| Levels | Salary |
|---|---|
| Entry Level Head of Risk Management | $281,722 |
| Intermediate Level Head of Risk Management | $285,665 |
| Senior Level Head of Risk Management | $290,922 |
| Specialist Level Head of Risk Management | $298,809 |
| Expert Level Head of Risk Management | $308,667 |
| Entry Level | 9% |
| Mid Level | 8% |
| Senior Level | 6% |
| Top Level | 4% |
| Experienced | 1% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
Credit Risk: Credit risk is the possibility of loss due to a borrower's defaulting on a loan or not meeting contractual obligations.
Portfolio Management: Portfolio management is the selection, prioritisation and control of an organisation's programmes and projects. The goal is to balance the implementation of change initiatives and the maintenance of business-as-usual, while optimising ROI.
| Skill | Salary | Demand |
|---|---|---|
|
Influencing
|
$372,300 |
20%
|
|
Accountability
|
$359,890 |
16%
|
|
AML
|
$359,890 |
16%
|
|
HIPAA
|
$356,788 |
15%
|
|
Innovation
|
$341,275 |
10%
|
|
Purchasing
|
$341,275 |
10%
|
