What does a Director, Risk Management do?

As a risk manager, you are in charge of determining financial, safety and security risks for a company or organization, and you find ways to reduce those risks through planning and problem-solving. Risk managers are in charge of research activities such as risk assessment for current company affairs or risk evaluation, which evaluates the company's handling of risks in the past. Risk managers must be able to present their findings to their clients in a way that's easy for the company administration to understand and implement. Many risk managers begin their careers as risk assistants or risk analysts and move into manager roles once they have enough experience.

Most risk managers hold bachelor's degrees in business, management or another related field. Graduate degrees look even more impressive on your resum' to potential employers. In-depth knowledge of the company and industry is very important for risk managers, who need to accurately assess risks that may become a reality without intervention by organization management. Risk managers should be able to think outside the box to envision risks that might be otherwise unnoticeable to others.

  • Identify financial, safety or security risks that the client company or organization may face
  • Prepare action plans to decrease risk factors
  • Gather confidential financial information from client such as income, assets and debts
  • Manage company insurance policies
  • Perform risk evaluation, which assesses the way the company previously handled risks
  • Make risk-avoiding adjustments to current methods of operation in order to minimize their future risks
  • Prepare a risk-management budget
  • Provide training and certification for organization staff so that they can be aware of risks and try to avoid them
  • Professional Risk Manager (PRM) certification may be beneficial
  • Thorough understanding of the business or organization's goals and values
  • Computer, data entry and MS Office skills
  • Excellent communication skills, both written and spoken
  • Ability to handle private, sensitive, confidential information appropriately
  • You pay strong attention to detail and organization
  • Strong working knowledge of risk management and previous experience working with risk (i.e. risk assistant or risk analyst)
  • Solid research skills using the internet and first-person interviews
  • Experience working with insurance policies
EducationBachelor's Degree
Work/Life Balance
3.8 ★
Salary Range--
Career Opportunity
3.7 ★
Avg. Experience5-7 years

Director, Risk Management Salaries

Average Base Pay

$157,115 /yr
Same as national average
Not including cash compensation
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$111K
Median: $157K
$222K
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Glassdoor Estimated Salary

Director, Risk Management Career Path

Learn how to become a Director, Risk Management, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L7
Director of Risk
$154,688/yr
L8
See Career Path

Director, Risk Management Insights

Read what Director, Risk Management professionals have to say about their job experiences and view top companies for this career.
Goldman SachsGoldman Sachs
Risk Intern
Aug 15, 2021

“Good collaborative spirit and balance of financial and technical projects (which was what I was interested in).”

The ALS GroupThe ALS Group
Risk Management
Jul 12, 2021

“I got to meet great people and learn from people who have been in the industry for many years.”

ArupArup
Risk Manager
Feb 15, 2021

“Many different ways at getting the same thing done which is good for innovation but bad for efficiency.”

Wells FargoWells Fargo
Risk Management
Jan 7, 2021

“Subtle racism in Canada where you have no chance to grow due to your skin color.”

SafraPay USSafraPay US
Assistant Vice President, Risk
Sep 24, 2020

“1. Managing Work life balance is little difficult but that's life of a startup.”

DeloitteDeloitte
Risk Intern
Sep 24, 2021

“Good for career development and great people”

DBS BankDBS Bank
Risk
Mar 4, 2021

“Good work life balance and quite stable”

DeloitteDeloitte
Consultant, Risk Advisory
Jan 29, 2021

“You'll feel supported and everyone is really friendly (including partners).”

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Director, Risk Management Interviews

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Director, Risk Management Jobs

Frequently asked questions about the roles and responsibilities of a director risk management

When working as a director risk management, the most common skills you will need to perform your job and for career success are Audit, Leadership, CISSP PMP, SQL SAS, and Frameworks.

The most similar professions to director risk management are:
  • Program Manager
  • Risk Analyst
  • Project Manager
  • Business Analyst

The most common qualifications to become a director risk management include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.