Director of Risk Management

Career Guide
The Director of Risk Management is responsible for identifying, assessing, and mitigating risks that could jeopardize the organization's assets, earning capacity, or success. This role involves strategic planning, policy development, and ensuring compliance with regulatory requirements.

Key Responsibilities

  • Develop and implement risk management strategies and processes.
  • Lead risk assessments and audits to identify potential risks.
  • Coordinate with senior management to align risk strategies with business objectives.
  • Ensure compliance with industry regulations and standards.
  • Prepare detailed reports and presentations for stakeholders.

Top Skills for Success

Analytical Thinking
Regulatory Knowledge
Risk Assessment
Leadership

Career Progression

Can Lead To
Chief Risk Officer
VP of Risk Management
Transition Opportunities
CEO
COO

Common Skill Gaps

Often Missing Skills
Data AnalyticsCyber Risk Management
Development SuggestionsPursue certifications in data analytics and cyber security to enhance technical expertise.

Salary & Demand

Median Salary Range
Entry Level$120,000 - $140,000
Mid Level$140,000 - $160,000
Senior Level$160,000 - $200,000
Growth Trend
Increasing demand due to heightened focus on risk management and compliance across industries.

Companies Hiring

Major Employers
JPMorgan ChaseGoldman Sachs
Industry Sectors
FinanceInsurance

Recommended Next Steps

1
Obtain relevant professional certifications like Certified Risk Manager (CRM).
2
Expand network through professional associations such as the Risk Management Society (RIMS).

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