How much does a Chief Risk Officer make in Massachusetts? The average Chief Risk Officer salary in Massachusetts is $303,488 as of March 26, 2024, but the range typically falls between $257,484 and $354,594. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
Percentile | Salary | Location | Last Updated |
10th Percentile Chief Risk Officer Salary | $215,601 | MA | March 26, 2024 |
25th Percentile Chief Risk Officer Salary | $257,484 | MA | March 26, 2024 |
50th Percentile Chief Risk Officer Salary | $303,488 | MA | March 26, 2024 |
75th Percentile Chief Risk Officer Salary | $354,594 | MA | March 26, 2024 |
90th Percentile Chief Risk Officer Salary | $401,123 | MA | March 26, 2024 |
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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.
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.
Credit Risk: Credit risk is the possibility of loss due to a borrower's defaulting on a loan or not meeting contractual obligations.
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. Being a Chief Risk Officer designs strategic initiatives to protect assets from economic, market, and regulatory risks that the organization is exposed to. Requires a bachelor's degree. Additionally, Chief Risk Officer typically reports to Chief Executive Officer (CEO). 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. (Copyright 2024 Salary.com)... View full job description
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Location | Avg. Salary | Date Updated |
---|---|---|
Location Attleboro, MA | Avg. Salary $292,609 | Date Updated March 26, 2024 |
Location Barnstable, MA | Avg. Salary $295,677 | Date Updated March 26, 2024 |
Location Fitchburg, MA | Avg. Salary $297,351 | Date Updated March 26, 2024 |
Location Hyannis, MA | Avg. Salary $294,562 | Date Updated March 26, 2024 |
Location Leominster, MA | Avg. Salary $293,725 | Date Updated March 26, 2024 |
Location Malden, MA | Avg. Salary $312,693 | Date Updated March 26, 2024 |
Location Methuen, MA | Avg. Salary $297,909 | Date Updated March 26, 2024 |
Location Newton, MA | Avg. Salary $312,693 | Date Updated March 26, 2024 |
Location Revere, MA | Avg. Salary $312,693 | Date Updated March 26, 2024 |
Location Weymouth, MA | Avg. Salary $304,603 | Date Updated March 26, 2024 |
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Jobs with different levels of education may pay very differently. Check the Chief Risk Officer salary of your education level.
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About Massachusetts Massachusetts is the 7th-smallest state in the United States. It is located in the New England region of the northeastern United States and has an are....More
Skills associated with Chief Risk Officer: Compliance Risk Assessment, Operational Risk, Compliance Management, Financial Risk Management Software ...More
Jobs with a similar salary range to Chief Risk Officer : Senior Risk Officer, Risk Executive
Salary estimation for Chief Risk Officer at companies like : Ministerio De Restauraci├│n Jehova-Nissi, Halo Martne Advertising LLC, CLEVERTECH North America