Risk Management | Smith Hanley

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Risk Management Director is the #2 position of “solid career growth” in a study done by Qualigence International. They focused on 10 year job growth as well as median pay. This contrasts to our blog of February 21 where Glassdoor said the Best Job in America was Data Scientist. Their criteria was job satisfaction, salary and number of openings on their website. Clearly, though, analytical careers are the place to be.

 

 

Consumer Credit Executive Recruiter, Nancy Darian, outlines three risk management titles and the salaries and responsibilities associated with those positions.You can reach Nancy at ndarian@smithhanley.com to talk further.

Risk Management Director

Stefan’s experience argues against Qualigence’s median salary of $130K. Director level positions that he has recruited for range between $130K and $180K with the median closer to $150K. A Director will oversee model production and development teams. They will lead risk decisioning with the managers who report directly to them. Team size can range from a staff of two to twenty or more depending on the size and analytical capabilities of the organization.

Risk Managers

Salaries here hover between $100K and $130K with responsibilities including leading projects and teams for quantitative model development in areas like loss forecasting, regulatory and portfolio management. Managers can be individual contributors or can lead a team of several junior analysts.

Risk Management Analyst

Master’s entry candidates can join financial services firms directly from academia anywhere from $60K to $80K. This equates to the experienced candidate without a Master’s degree or a degree in a non-quantitative field. Analysts will be doing forecasting, data analysis, model implementation and validation. Experience and proficiency with statistical packages, specifically SAS, are very important for this level in a risk management career. Python and R have eaten into SAS’s market share with many companies shifting towards these open source tools. Risk Management Lead Analysts bridge the salary gap between analyst and manager with salaries of $80K to $100K.


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