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Financial Risk Manager Jobs in Maryland (NOW HIRING)

EMD Sales Inc

Financial Controller

Baltimore, MD · On-site

... Risk Management * Develop and maintain strong internal control systems * Implement policies and ... Lead the annual budgeting process and ongoing financial forecasting * Monitor variances between ...

EMD Sales Inc

Financial Controller

Baltimore, MD · On-site

... Risk Management * Develop and maintain strong internal control systems * Implement policies and ... Lead the annual budgeting process and ongoing financial forecasting * Monitor variances between ...

SC&H Group

Risk Senior Manager

Columbia, MD · On-site +1

SC&H's Risk Practice is seeking a Senior Manager to lead and grow our service line with a strong ... Expand client relationships at the CISO, CIO, CTO, CAE, CFO levels; lead cross-sell with Assurance ...

SC&H Group

Risk Senior Manager

Columbia, MD · On-site

SC&H's Risk Practice is seeking a Senior Manager to lead and grow our service line with a strong ... Expand client relationships at the CISO, CIO, CTO, CAE, CFO levels; lead cross-sell with Assurance ...

Morgan Stanley

Model Risk Control Specialist

Baltimore, MD · On-site

$70K - $125K/yr

We're seeking someone to join our team as a Model Risk Control Specialist in Non-Financial Risk to ... At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their ...

SC&H Group

Risk Senior Manager

Baltimore, MD · On-site

SC&H's Risk Practice is seeking a Senior Manager to lead and grow our service line with a strong ... Expand client relationships at the CISO, CIO, CTO, CAE, CFO levels; lead cross-sell with Assurance ...

SC&H Group

Risk Senior Manager

Hunt Valley, MD · On-site

SC&H's Risk Practice is seeking a Senior Manager to lead and grow our service line with a strong ... Expand client relationships at the CISO, CIO, CTO, CAE, CFO levels; lead cross-sell with Assurance ...

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Financial Risk Manager information

See Maryland salary details

$50K

$108.3K

$165K

How much do financial risk manager jobs pay per year?

As of Aug 11, 2026, the average yearly pay for financial risk manager in Maryland is $108,270.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,300.00 and $125,200.00 per year, depending on experience, location, and employer.

What are some common challenges financial risk managers face when working with cross-functional teams?

Financial Risk Managers often collaborate with departments such as treasury, compliance, and IT to identify and mitigate risks. One common challenge is aligning risk management strategies with diverse departmental goals, which may sometimes conflict with each other. Effective communication and negotiation skills are essential to ensure all stakeholders understand the risk implications of their decisions. Additionally, adapting to rapidly changing regulations and market conditions can create pressure to quickly update risk models and processes.

Is it hard to become a financial risk manager?

Becoming a financial risk manager typically requires a strong background in finance, economics, or related fields, along with relevant certifications such as the Financial Risk Manager (FRM) designation. The role often demands analytical skills, experience with risk assessment tools, and a good understanding of financial markets, making it a challenging but attainable career path for those with the right education and skills.

What is the difference between Financial Risk Manager vs Credit Analyst?

AspectFinancial Risk ManagerCredit Analyst
CertificationsFRM, CFAFitch, CFA
Work EnvironmentFinancial institutions, banks, investment firmsBanks, lending institutions, credit agencies
Primary FocusAssessing and managing overall financial risksEvaluating creditworthiness of borrowers
Industry UsageRisk management departments, trading floorsLoan departments, credit risk units

While both roles involve financial analysis, a Financial Risk Manager focuses on identifying and mitigating broad financial risks across an organization, often requiring advanced certifications like FRM or CFA. A Credit Analyst specializes in assessing individual borrowers' creditworthiness to inform lending decisions. Both roles are vital in financial institutions but serve different strategic purposes.

What are the key skills and qualifications needed to thrive as a financial risk manager?

To thrive as a Financial Risk Manager, you need a strong background in finance, quantitative analysis, and risk assessment, typically supported by a relevant degree and certifications like FRM or CFA. Expertise in risk modeling software, statistical tools such as SAS or R, and financial reporting systems is highly valued. Exceptional analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These skills and qualities are crucial for accurately identifying, assessing, and mitigating financial risks to protect organizational assets and ensure regulatory compliance.

Do financial risk managers make good money?

Financial risk managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, median annual salaries often range from $80,000 to over $150,000, with higher earnings possible for senior roles and those with professional certifications like FRM or CFA.

What does a financial risk manager do?

A Financial Risk Manager (FRM) is responsible for identifying, analyzing, and mitigating financial risks within an organization. Their work involves assessing threats related to credit, market, operational, and liquidity risk, and developing strategies to minimize potential losses. FRMs use quantitative analysis, financial modeling, and risk assessment tools to advise decision-makers on risk exposures. They play a vital role in ensuring that a company remains compliant with financial regulations and maintains financial stability.

Is risk management in finance a good career?

A career as a financial risk manager involves analyzing and mitigating financial risks for organizations, often requiring strong analytical skills, knowledge of financial instruments, and certifications like FRM or CFA. It offers opportunities in banking, investment firms, and corporations, with a focus on quantitative analysis and regulatory compliance, and typically involves a demanding schedule with high responsibility.
What are popular job titles related to Financial Risk Manager jobs in Maryland? For Financial Risk Manager jobs in Maryland, the most frequently searched job titles are:
What job categories do people searching Financial Risk Manager jobs in Maryland look for? The top searched job categories for Financial Risk Manager jobs in Maryland are:
What cities in Maryland are hiring for Financial Risk Manager jobs? Cities in Maryland with the most Financial Risk Manager job openings:
Financial Risk Manager jobs near you
Infographic showing various Financial Risk Manager job openings in Maryland as of August 2026, with employment types broken down into 85% Full Time, 13% Part Time, and 2% Contract. Highlights an 86% Physical, 2% Hybrid, and 12% Remote job distribution, with an average salary of $108,270 per year, or $52.1 per hour.

Financial Coordinator Risk Management

MedStar Health

Columbia, MD • On-site

Full-time

Re-posted 24 days ago

Medstar Health rating

7.8

Company rating: 7.8 out of 10

Based on 239 frontline employees who took The Breakroom Quiz

132nd of 887 rated healthcare providers

Job description

About the Job
General Summary of Position
Financial coordinator between MedStar's self-insured claims management program and MedStar's captive insurance company and in that role provides to MedStar's Finance Department detailed financial information regarding expenses associated with the claims management program. Collects from outside defense counsel financial information regarding claims indemnity and expense payments and processes these to reimburse defense counsel for expenses incurred. Provides financial coordination for other insurance programs managed within the Risk Management Department including Workers Compensation. Responsible for managing the financial interface between outside defense counsel Medstar and the Harvard Risk Management claims database to ensure that all expenses and indemnity payments are recorded to the correct claim. Provides administrative support to six professionals within the Corporate Risk Management team. Works under the direction of the Administrative Director Risk Management Services.
Primary Duties and Responsibilities
  • Contributes to the achievement of established department goals and objectives and adheres to department policies procedures quality standards and safety standards. Complies with governmental and accreditation regulations.
  • Manages reconciles and customizes the payment interface process for MedStar's professional medical liability program liaising with Harvard RMF Donegal and MedStar Accounts Payable to ensure a smooth process. MedStar's professional medical liability program includes more than $60 million in expenses and indemnity payments with over 200 claims annually.
  • Tracks processes and follows up on defense counsel invoices both internally and externally.
  • Maintains accurate information regarding all vendors timekeepers and billing rates. Collects W9 forms and prepares invoices for review and approval.
  • Works directly with Finance department to ensure compliance with all Finance Department requirements regarding proper accounting for captive insurance company financial transactions.
  • MedStar maintains a self-insured retention program for workers' compensation with over $1 million in transactions per month. Works with MedStar's outside third-party administrator (Gallagher Bassett) and MedStar's Finance and Accounting departments to ensure accurate processing of all financial transactions for this program. These transactions include maintaining adequate financial resources to enable the TPA to pay expenses and make timely payments to MedStar associates for workers' compensation indemnity payments.
  • Reconciles accounts by identifying errors in posting or omissions.
  • Prepares documentation for wire transfers and ACH transactions and processes wire transfers.
  • Responsible for maintaining with CMS accurate monthly and quarterly Medicare beneficiary information for all professional liability claimants managed through MedStar's captive insurance company claims management program.
  • Responsibility for coordinating and processing all operating expenditures related to the Corporate Risk Management department including office supplies purchased professional services courier services catering expenses travel and education dues and subscriptions licenses mileage reimbursement etc. Works directly with Accounts Payable to ensure accuracy of all such accounts.
  • Supports the claims managers to ensure compliance with the Claims Management Program Billing and Defense Counsel Guidelines; establishes and maintains a working relationship with the billing departments of the multiple law firms retained by MedStar in connection with its professional liability claims management program.
  • Responsible for managing the electronic claims management notification system operated by CT Corp.
  • Provides administrative support to claims managers and risk management team members; coordinates web-based electronic meeting agendas/reports loss prevention tracking and early intervention payments and tracking.
  • Manages trial and mediation calendars provides administrative support including meeting material preparation for key claim management functions including MedStar Professional Liability Claims and Loss Prevention Committee; weekly reserve meetings; quarterly and semi-annual claims review meetings; and pretrial meetings with key stakeholders and defense counsel.
  • Serves as timekeeper for the Corporate Risk Management department.
  • Schedules and provides documentation and support for several monthly and quarterly meetings with corporate and hospital leadership.
  • Coordinates meetings including organizing room reservations catering equipment invitations etc.
  • Schedules conference calls meetings and training/educational sessions.
  • Works directly with the Administrative Director Director of Insurance and Director Claims Operations on various departmental projects.
    • Minimal Qualifications
    Education
    • Associate's degree in accounting or business administration or related field required or
    • Equivalent combination of education/training and experience will be considered required
    Experience
    • Administrative management experience required
    Licenses and Certifications
    • No special certification registration or licensure required
    Knowledge Skills and Abilities
    • Excellent written and verbal skills sound judgment and budgeting and accounting skills with the ability to effectively prioritize and multi-task in a fast-paced work environment.
    • Extremely honest and trustworthy individual of high moral character.
    • Significant aptitude in independent and proactive problem-solving and effective and efficient utilization of resources.
    • Service-oriented approach.
    • Proficient in Microsoft Excel Powerpoint Word Outlook and claims management program billing applications (Donegal and Harvard RMF CMAPS programs).

    This position has a hiring range of
    USD $65,062.00 - USD $117,291.00 /Yr.

    What Medstar Health employees say

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    Medstar Health logo

    About Medstar Health

    Sourced by ZipRecruiter

    MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation, and research. Our team of 32,000 includes physicians, nurses, residents, fellows, and many other clinical and non-clinical associates working in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest home health provider in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar Health is dedicated not only to teaching the next generation of doctors, but also to the continuing education, professional development, and personal fulfillment of our whole team. Together, we use the best of our minds and the best of our hearts to serve our patients, those who care for them, and our communities. It's how we treat people.

    Industry

    Health care and social assistance

    Company size

    10,000+ Employees

    Headquarters location

    Columbia, MD, US

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