Every organization has a risk manager.
In a large organization he or she is, or should be, a well paid professional, reporting at least to the vice-presidential level. In a small company the risk manager may be the president or managing partner. In a moderate sized company, it could be the chief financial officer or someone on that level. Formal definitions of risk manager are difficult because of its diversity, but in essence, a risk manager is the individual responsible for managing company activities which affect risks of loss. One of most important aspects of the risk manager's job is to balance conflicting calls for funds from loss prevention, insurance, claims, administration, consultants, etc.