Risk Management Specialist salary in Latvia

Average Yearly Salary of Risk Management Specialist in Latvia is approximately 30,274 EUR (30,335 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 Risk Management Specialist do?

A risk management specialist is responsible for identifying, assessing, and minimizing potential risks that may impact an organization's operations, financial stability, reputation, or compliance with regulations. They analyze data, conduct risk assessments, and develop strategies to mitigate risks. These professionals collaborate with various departments within the organization to create risk management plans, policies, and procedures. They also monitor and evaluate the effectiveness of risk management activities, making recommendations for improvement when necessary. Additionally, risk management specialists stay updated on industry trends, regulatory requirements, and emerging risks to ensure the organization remains prepared and resilient.

Skills: Risk management, Risk assessment, Data analysis, Compliance, Mitigation strategies, Industry trends.
Job industry: Finance

How much does Risk Management Specialist make?

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


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Salary comparison to National average

Is Risk Management Specialist a well paid job?

Yes, our data shows that Risk Management Specialist 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 Risk Management Specialist?

High salary for Risk Management Specialist would be somewhere between 33,301 EUR and 43,897 EUR. However this is an estimation based on Gaussian Distribution.

How much can you save working as Risk Management Specialist in Latvia?

Living in Latvia the approximate monthly expenses are: 860 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: 30,274 EUR
Estimated Monthly Salary: 2,523 EUR
Estimated Weekly Salary: 582 EUR per week
Estimated Hourly Salary: 15 EUR per hour
By working as Risk Management Specialist a person can save up to 1,668 USD per month or 20,015 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 Latvia, see costs of living in Latvia.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Estonia, Russia, Belarus, Lithuania..
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Risk Management Specialist

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 Latvia

Data as of 2025

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