Vendor Risk Manager salary in Iceland

Average Yearly Salary of Vendor Risk Manager in Iceland is approximately 17,650,547 ISK (124,123 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Vendor Risk Manager do?

A vendor risk manager is responsible for assessing and managing the risks associated with third-party vendors that an organization relies upon. They play a critical role in ensuring that vendors meet the necessary security, compliance, and operational requirements. The vendor risk manager conducts due diligence on potential vendors, evaluates their contracts and agreements, and monitors their performance to identify and mitigate any potential risks. This occupation requires strong analytical skills, as well as knowledge of risk management principles and industry regulations. Effective communication and negotiation skills are crucial for building relationships with vendors and internal stakeholders. Attention to detail and the ability to prioritize tasks are essential for managing multiple vendor relationships simultaneously. The vendor risk manager must also stay updated on industry trends and best practices to continuously improve the vendor risk management program.

Skills: Vendor risk management, Third-party risk assessment, Compliance management, Contract evaluation, Risk mitigation, Relationship building.
Job industry: Finance

How much does Vendor Risk Manager make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Vendor Risk Manager a well paid job?

Yes, our data shows that Vendor Risk Manager is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Vendor Risk Manager?

High salary for Vendor Risk Manager would be somewhere between 19,415,602 ISK and 25,593,293 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Vendor Risk Manager in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 17,650,547 ISK
Estimated Monthly Salary: 1,470,879 ISK
Estimated Weekly Salary: 339,434 ISK per week
Estimated Hourly Salary: 8,486 ISK per hour
By working as Vendor Risk Manager a person can save up to 7,615 USD per month or 91,377 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Vendor Risk Manager

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Iceland

Data as of 2025

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