1. What is the average salary of a Chief Risk Officer?
The average annual salary of Chief Risk Officer is $269,287.
In case you are finding an easy salary calculator,
the average hourly pay of Chief Risk Officer is $129;
the average weekly pay of Chief Risk Officer is $5,179;
the average monthly pay of Chief Risk Officer is $22,441.
2. Where can a Chief Risk Officer earn the most?
A Chief Risk Officer's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer.
According to the latest salary data by Salary.com, a Chief Risk Officer earns the most in San Jose, CA, where the annual salary of a Chief Risk Officer is $339,652.
3. What is the highest pay for Chief Risk Officer?
The highest pay for Chief Risk Officer is $322,252.
4. What is the lowest pay for Chief Risk Officer?
The lowest pay for Chief Risk Officer is $228,807.
5. What are the responsibilities of Chief Risk Officer?
Oversees all aspects of an organization's risk management function. Responsible for planning and developing business analysis, risk modeling, and loss prevention programs. Designs strategic initiatives to protect assets from economic, market, and regulatory risks that the organization is exposed to. Requires a bachelor's degree. Typically reports to Chief Executive Officer (CEO). Top level or C level management. Responsible for the development of functional or business unit strategy for the entire organization. Defines corporate vision and strategy establishes company direction and focus. Executes multiple high impact initiatives to achieve overall corporate goals.
6. What are the skills of Chief Risk Officer
Specify the abilities and skills that a person needs in order to carry out the specified job duties. 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.
1.)
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.
2.)
Credit Risk: Credit risk is the possibility of loss due to a borrower's defaulting on a loan or not meeting contractual obligations.
3.)
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.