RISK MANAGER / SALARY
SOUTH AFRICA

SALARY SURVEYS

21

UPDATED
April 2024
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AVERAGE SALARY / YEAR

MOST TYPICAL SALARY / YEAR

Gross income

Net (after tax)

18.3 ZAR = 1 USD

1,146,889 ZAR

$62,688 USD

Johannesburg

1,183,772 ZAR

585,446 ZAR

$32,000 USD

Including "Johannesburg"

Excluding "Johannesburg"

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Average Salary / Risk Manager / South Africa

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Average salary for Risk Manager / South Africa is 1,146,889 ZAR per year. The most typical earning is 585,446 ZAR. All data are based on 21 salary surveys. Salaries are different between men and women. Men receive an average salary of 1,147,109 ZAR. Women receive a salary of 1,467,275 ZAR.

Based on education, the highest salaries receive people with Masters Degree with salary of 1,677,669 ZAR. The second most paid education level is Doctorate Degree with salary of 1,491,058 ZAR.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 3,007,730 ZAR. Employees with 16-20 Years of experience receive 1,609,977 ZAR.

Levels / Risk Manager / South Africa (Gross ZAR)

Salary Levels (ZAR) per Year	Surveys	[%]
54,900 ZAR - 91,499 ZAR	0	n/a
91,500 ZAR - 182,899 ZAR	0	n/a
183,000 ZAR - 274,399 ZAR	0	n/a
274,400 ZAR - 365,899 ZAR	0	n/a
365,900 ZAR - 457,399 ZAR	2	100% 9.52%
457,400 ZAR - 548,799 ZAR	0	n/a
THE MOST TYPICAL SALARY
548,900 ZAR - 640,299 ZAR	4	90.48% 19.05%
640,300 ZAR - 731,799 ZAR	2	71.43% 9.52%
731,800 ZAR - 823,299 ZAR	2	61.9% 9.52%
823,300 ZAR - 914,699 ZAR	0	n/a
914,800 ZAR - 1,006,199 ZAR	0	n/a
1,006,200 ZAR - 1,097,699 ZAR	2	52.38% 9.52%
1,097,700 ZAR - 1,189,199 ZAR	0	n/a
1,189,200 ZAR - 1,280,599 ZAR	2	42.86% 9.52%
1,280,700 ZAR - 1,372,099 ZAR	1	33.33% 4.76%
1,372,100 ZAR - 1,463,599 ZAR	1	28.57% 4.76%
1,463,600 ZAR - 1,555,099 ZAR	0	n/a
1,555,100 ZAR - 1,646,499 ZAR	3	23.81% 14.29%
1,646,600 ZAR - 1,737,999 ZAR	1	9.52% 4.76%
1,738,000 ZAR - 1,829,499 ZAR	0	n/a
1,829,500 ZAR - 1,920,999 ZAR	0	n/a
1,921,000 ZAR - 2,012,499 ZAR	0	n/a
2,012,500 ZAR - 2,103,899 ZAR	0	n/a
2,103,900 ZAR - 2,195,399 ZAR	0	n/a
2,195,400 ZAR - 2,286,899 ZAR	0	n/a
2,286,900 ZAR - 2,378,399 ZAR	0	n/a
2,378,400 ZAR - 2,469,799 ZAR	0	n/a
2,469,900 ZAR - 2,561,299 ZAR	0	n/a
2,561,300 ZAR - 2,652,799 ZAR	0	n/a
2,652,800 ZAR - 2,744,299 ZAR	0	n/a
HIGH SALARIES
2,744,300 ZAR - 2,927,199 ZAR	0	n/a
2,927,200 ZAR - 3,110,199 ZAR	0	n/a
3,110,200 ZAR - 3,293,099 ZAR	0	n/a
3,293,100 ZAR - 3,476,099 ZAR	0	n/a
3,476,100 ZAR - 3,658,999 ZAR	0	n/a
3,659,000 ZAR - 3,841,999 ZAR	0	n/a
3,842,000 ZAR - 4,024,899 ZAR	0	n/a
4,024,900 ZAR - 4,207,899 ZAR	0	n/a
4,207,900 ZAR - 4,390,799 ZAR	1	4.76% 4.76%
4,390,800 ZAR - 4,573,799 ZAR	0	n/a
4,573,800 ZAR - 6,403,299 ZAR	0	n/a

Gender / Risk Manager / South Africa (Gross ZAR)

#		Surveys		AVERAGE SALARY / YEAR
1	Women	4	1,467,275 ZAR
2	Men	13	1,147,109 ZAR

Education / Risk Manager / South Africa (Gross ZAR)

#		Surveys
1	Masters Degree	7	1,677,669 ZAR
2	Doctorate Degree	2	1,491,058 ZAR
3	Bachelors Degree	11	799,500 ZAR
4	Some College	1	574,469 ZAR

Experience / Risk Manager / South Africa (Gross ZAR)

#		Surveys
1	20+ Years	2	3,007,730 ZAR
2	16-20 Years	1	1,609,977 ZAR
3	8-12 Years	4	1,099,541 ZAR
4	4-8 Years	6	986,111 ZAR
5	1-2 Years	4	830,602 ZAR
6	2-4 Years	3	731,808 ZAR
7	12-16 Years	1	629,354 ZAR

Age / Risk Manager / South Africa (Gross ZAR)

#		Surveys
1	51-55	1	4,359,746 ZAR
2	36-40	3	1,297,129 ZAR
3	26-30	3	1,083,075 ZAR
4	31-35	7	1,040,996 ZAR
5	n/a	4	823,284 ZAR
6	21-25	3	665,945 ZAR

Work Type / Risk Manager / South Africa (Gross ZAR)

#		Surveys		AVERAGE SALARY / YEAR
1	Contract	1	1,655,715 ZAR
2	Permanent	20	1,121,495 ZAR

Cities / Risk Manager / South Africa (Gross ZAR)

#		Surveys
1	Johannesburg	17	1,183,699 ZAR
2	Cape Town	3	1,068,439 ZAR
3	Nelson Mandela Bay Metro	1	755,591 ZAR

People's individual salary examples (surveys)

Credit Risk Manager

Posted 26 July 2022
Key knowledge and tasks

"Managing Credit risk from an origination perspective."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Masters Degree	2-4 Years	Expert	1,190,200 ZAR

Risk Officer

Posted 26 March 2021
Key knowledge and tasks

"Administration of the process of identifying and assessing the risks affecting the current business. Implementing appropriate risk control actions. Monitoring, evaluating and challenging the organization’s success in managing its risks. Assist in identifying major risks affecting the operational functions. Monitor internal controls to ensure their adequacy and effectiveness and assist in the identification of appropriate enhancements to address identified weaknesses. Provide an effective administrative function to support the Risk Management function. Support in the development and updating of risk management policies and procedures. 
Conduct research on risk topics when required. Compile and submit all required and ad hoc risk reports timeously and accurately. Conduct risk discussions with the operational divisions on an ongoing basis Provide risk support to project team; Assessment/assistance of/on their process, procedures and in identifying risk and associated controls. Attend project meetings to provide risk support related to new systems and changes to system functionality. Administration of the Compliance function. Monitoring management of compliance risks. Work with management to develop Compliance management action plans to manage compliance risk effectively. Perform compliance risk assessments on an ongoing basis. Responsible for facilitation of outsourced internal audit reviews. Coordination of management responses across the organisation for assigned reviews. Coordinating and tracking of the resolution of previous findings. Obtain and maintain evidence in support of the annual combined assurance assessment."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Bachelors Degree	4-8 Years	n/a	552,200 ZAR

Senior Credit Risk Manager

Posted 23 March 2021
Key knowledge and tasks

"Credit Risk Management."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	8-12 Years	n/a	1,602,500 ZAR

Head Financial Crime / Mlro

Posted 13 June 2019
Key knowledge and tasks

"Strategy, Governance, Policy, Standards, Board Reporting, Advisory, Regulatory engagement, regulatory reporting, decision making, oversight, risk management, enterprise-wide risk assessment, leadership, risk decision making, people management, budge control and management, ACAMS certified professional, MBA, Accountable for the end to end compliance in terms of regulations and provision of regulatory training, interpretation of anti money laundering law and regulations, Sanctions Control, Terrorist Financing, suspicious activity reporting, anti bribery and corruption policies, standards and frameworks, reputational risk assessment, oversight of payment clearing, system tuning and calibrations, projects."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	20+ Years	n/a	4,359,500 ZAR

Operational Risk Manager

Posted 08 April 2019
Key knowledge and tasks

"MSc Qualified candidate who has just started a PHD in Risk Mngt. Has been working in Banking for 8 years and in ops risk mngt for 5 years."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	4-8 Years	n/a	1,013,800 ZAR

Chief Risk Officer

Posted 25 March 2019
Key knowledge and tasks

"Managing compliance and risk with in the group."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Bachelors Degree	8-12 Years	n/a	1,013,800 ZAR

Manager

Posted 12 March 2019
Key knowledge and tasks

"Manage others in team."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	8-12 Years	n/a	405,500 ZAR

Risk Business Analyst

Posted 14 February 2019
Key knowledge and tasks

"Risk Business Analyst in a Finance Environment."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Bachelors Degree	2-4 Years	n/a	432,600 ZAR

Head Of Credit

Posted 16 August 2018
Key knowledge and tasks

"Managing a team of credit managers and ensuring quality credit assessments are performed."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Masters Degree	16-20 Years	n/a	1,610,000 ZAR

Quantitative Analyst

Posted 09 April 2018
Key knowledge and tasks

"Risk managing."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Bachelors Degree	1-2 Years	n/a	552,000 ZAR

Head Of Financial Risk

Posted 13 September 2017
Key knowledge and tasks

"Manage Financial Risk, including market, credit and liquidity risk."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Bachelors Degree	8-12 Years	n/a	1,375,500 ZAR

RISK MANAGER / SALARY SOUTH AFRICA

21