Average Salary For Risk Managers In South Africa

Risk management is the identification, evaluation, and prioritization of risks 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.


Risk Manager Salary In South Africa

The average risk manager salary in South Africa is R 4 920 000 per year or R 2 523 per hour. Entry-level positions start at R 540 000 per year, while most experienced workers make up to R 9 435 000 per year.

What skills do you need to be a risk manager?

Financial acumen.

Analytical skills and an eye for detail.

Industry and Market knowledge.

Ability to endure and work under stress.

Technical skills, negotiation skills, and the ability to influence people.

Good communication and presentation skills.

What careers are there in risk management?

Risk Analyst.

Insurance Analyst.

Loss Control Representative.

Risk Consultant.

Risk Control Consultant.

Risk Management Consultant.

Risk Manager.

Business Risk Manager.

Is there a demand for risk managers in South Africa? 

Definitely! As part of developing a risk management process, financial institutions need to attract personnel with the skills required to apply risk management tools in meaningful ways within the institution.

How do you become a risk manager?

A risk manager will be expected to have a bachelor’s degree in risk management as a minimum.

More and more organizations now expect a master’s degree as well.

The most acceptable master’s degree is the MBA in Risk Management, although those in MBA in economics, MBA in accounting, or MBA in finance are also acceptable.