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  • Conducted By:

    8476 Greenway Blvd., Suite 100

    Middleton, WI 53562

    www.enetrix.com

    Data Effective March 1, 2011

    2011 Risk Management Compensation Survey

  • 2011 Risk Management Compensation Survey

    Data effective: March 1, 2011 i

    Table of Contents

    Executive Summary . l 1

    Introduction l 5

    Participant List U.S. Respondents . II 1

    Participant Demographics U.S. Respondents .. III 1

    Summary of Survey Results U.S. Analysis

    All Positions . lV 1

    Chief Risk Officer |Vice President-Risk Management |Vice President-Strategic and Enterprise Risk ...... lV 3

    Director - Business Continuity/Financial/IT Risk Management . lV 7

    Director - Enterprise Risk Management (ERM)/Strategic Risk Management / Risk Intelligence . lV 11

    Director Insurance and Risk Management . lV 15

    Manager Insurance Management .. lV 19

    Employee Benefits/Workers Compensation Claims Manager... lV 23

    Claims Manager ... lV 27

    Environmental, Health or Safety Manager. lV 31

    Risk Management Analyst (Enterprise-Wide) . lV 35

    Risk Management Analyst .. lV 39

    Claims Analyst ... lV 43

    Detail Survey Results U.S. Analysis

    Chief Risk Officer |Vice President-Risk Management |Vice President-Strategic and Enterprise Risk ...... V 1

    Director - Business Continuity/Financial/IT Risk Management . V 5

    Director - Enterprise Risk Management (ERM)/Strategic Risk Management / Risk Intelligence . V 7

    Director Insurance and Risk Management . V 11

    Manager Insurance Management .. V 17

    Employee Benefits/Workers Compensation Claims Manager... V 23

    Claims Manager ... V 27

    Environmental, Health or Safety Manager. V 31

  • 2011 Risk Management Compensation Survey

    Data effective: March 1, 2011 ii

    Table of Contents (continued)

    Risk Management Analyst (Enterprise-Wide) . V 35

    Risk Management Analyst .. V 39

    Claims Analyst ... V 43

    Participant List Canadian Respondents . VI 1

    Participant Demographics Canadian Respondents .. VII 1

    Summary of Survey Results Canadian Analysis

    All Positions . VIII 1

    Chief Risk Officer |Vice President-Risk Management |Vice President-Strategic and Enterprise Risk ...... . VIII 3

    Director - Business Continuity/Financial/IT Risk Management . VIII 7

    Director - Enterprise Risk Management (ERM)/Strategic Risk Management / Risk Intelligence . VIII 9

    Director Insurance and Risk Management . VIII 13

    Manager Insurance Management .. VIII 17

    Employee Benefits/Workers Compensation Claims Manager... VIII 21

    Claims Manager ... VIII 23

    Environmental, Health or Safety Manager. VIII 27

    Risk Management Analyst (Enterprise-Wide) . VIII 29

    Risk Management Analyst .. VIII 33

    Claims Analyst ... VIII 37

    Detail Survey Results Canadian Analysis

    Chief Risk Officer |Vice President-Risk Management |Vice President-Strategic and Enterprise Risk ...... . IX 1

    Director - Business Continuity/Financial/IT Risk Management . IX 3

    Director - Enterprise Risk Management (ERM)/Strategic Risk Management / Risk Intelligence . IX 5

    Director Insurance and Risk Management . IX 7

    Manager Insurance Management .. IX 9

    Employee Benefits/Workers Compensation Claims Manager... IX 11

    Claims Manager ... IX 13

    Environmental, Health or Safety Manager. IX 15

  • 2011 Risk Management Compensation Survey

    Data effective: March 1, 2011 iii

    Table of Contents (continued)

    Risk Management Analyst (Enterprise-Wide) . IX 17

    Risk Management Analyst .. IX 19

    Claims Analyst ... IX 21

  • 2011 Risk Management Compensation Survey

    Data effective: April 1, 2011 iv

  • 2011 Risk Management Compensation Survey

    Executive Summary

    The 2011 survey presents compensation data for 11 different jobs. While sixteen different positions were listed on the survey document, there was

    insufficient data for analysis, or small sample sizes, on 5 of them. The results reflect data submitted by individual risk management professionals working in

    over 1,750 organizations in the United States and over 256 organizations in Canada. In total, 2,400 usable surveys were submitted online by RIMS members

    and risk management professionals between March and May, 2011.

    Approximately fifty-five point five percent (55.5%) of the U.S. respondents work in organizations with more than $1 Billion in annual revenue. Slightly less than

    half work in publicly owned organizations (45.0%), while 29.9% work for private employers. A majority of the survey respondents from the U.S. were Insurance

    and Risk Management Directors (n=908), Insurance Management Managers (n=384) and Chief Risk Officers or Vice Presidents-Risk Management or Vice

    President-Strategic and Enterprise Risk (n=231). Not surprisingly, the highest-paid risk management position was that of Chief Risk Officer/VP-Risk

    Management/VP-Strategic and Enterprise Risk, with an average base salary of US$183,755 and total compensation of US$236,301. The lowest paid risk

    management position was that of Claims Analyst, with an average base salary of US$55,263 and total compensation of US$56,403.

    For Canadian respondents, approximately 36.6% work in organizations with more than $1 Billion in annual revenue. Unlike the US, only 22.9% work in publicly

    owned organizations. And in Canada, 34.5% of respondents work for governmental employers as opposed to 11.8% in the US. A majority of the survey

    respondents were Insurance and Risk Management Directors (n=78) or Insurance Management Managers (n=61). The highest- paid risk management position

    surveyed was, once again, that of Chief Risk Officer/VP-Risk Management/VP-Strategic and Enterprise Risk, with an average base salary of CDN$145,719 and

    total compensation of CDN$176,143. The lowest paid position for which data was available was that of Claims Analyst with an average base salary of

    CDN$58,950 and total compensation of CDN$59,783.

    This survey is the sixth conducted by the Risk and Insurance Management Society, Inc. Risk Managers who responded to and completed the survey received

    an executive summary, in PDF, at no cost. PDF copies of the complete report may be ordered at www.RIMS.org/Compensation. Data contributors receive an

    85% discount on the complete report.

    The Risk and Insurance Management Society, Inc. (RIMS) is pleased to present the results of our 2011 Risk Management Compensation Survey. With more

    than 10,000 individual members representing more than 3,500 organizations in 58 countries, RIMS is a not-for-profit professional society dedicated to

    advancing the practice of risk management, a professional discipline that protects physical, digital, financial, and human resources. The survey was conducted

    by enetrix, A Division of Gallup, Inc.

    2011 Risk and Insurance Management Society, Inc. (RIMS) I - 1 Introduction and Executive Summary

  • 2011 Risk Management Compensation Survey

    The Risk and Insurance Management Society, Inc. (RIMS) is pleased to present the results of our 2011 Risk Management Compensation Survey. With more

    than 10,000 individual members representing more than 3,500 organizations in 58 countries, RIMS is a not-for-profit professional society dedicated to

    advancing the practice of risk management, a professional discipline that protects physical, digital, financial, and human resources. The survey was conducted

    by enetrix, A Division of Gallup, Inc. All Respondents

    All Positions - United States

    Job Title # of Resp.

    Average Base

    Salary ($000)

    Average Total

    Comp ($000)

    Chief Risk Officer | Vice President -

    Risk Management | Vice President -

    Strategic and Enterprise Risk

    231 $183.8 $236.3

    Director - Business

    Continuity/Financial/IT Risk

    Management

    16 $135.7 $166.2

    Director - Enterprise Risk

    Management (ERM)/Strategic Risk

    Management / Risk Intelligence

    114 $130.2 $150.5

    Director - Insurance and Risk

    Management908 $126.8 $149.5

    Manager - Insurance Management 384 $97.0 $107.6

    Employee Benefits/Workers

    Compensation Claims Manager39 $83.6 $88.5

    Claims Manager 116 $83.4 $90.5

    Environmental, Health or Safety

    Manager29 $91.6 $96.5

    Risk Management Analyst (Enterprise-

    Wide)81 $71.6 $75.0

    Risk Management Analyst 175 $66.4 $69.8

    Claims Analyst 23 $55.3 $56.4

    Executive Summary

    As expected, those in higher level positions (both in the US and in Canada) have a greater percentage of their total cash compensation at-risk than those in

    more entry level risk management positions.

    $183.8

    $135.7

    $130.2

    $126.8

    $97.0

    $83.6

    $83.4

    $91.6

    $71.6

    $66.4

    $55.3

    $236.3

    $166.2

    $150.5

    $149.5

    $107.6

    $88.5

    $90.5

    $96.5

    $75.0

    $69.8

    $56.4

    $0.0 $50.0 $100.0 $150.0 $200.0 $250.0

    Chief Risk Officer | Vice President - Risk Management | Vice President- Strategic and Enterprise Risk

    Director - Business Continuity/Financial/IT Risk Management

    Director - Enterprise Risk Management (ERM)/Strategic RiskManagement / Risk Intelligence

    Director - Insurance and Risk Management

    Manager - Insurance Management

    Employee

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