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Chief Risk Officer Jobs in Chicago, IL (NOW HIRING)

The position reports to the Director, Risk Appetite, in the Risk Appetite & Portfolio Management team under Enterprise Risk, and ultimately the Chief Risk Officer (CRO). This position is an ...

Manager, Risk Appetite

Chicago, IL · On-site

$74K - $138K/yr

The position reports to the Director, Risk Appetite, in the Risk Appetite & Portfolio Management team under Enterprise Risk, and ultimately the Chief Risk Officer (CRO). This position is an ...

Manager, Risk Appetite

Chicago, IL · On-site

$74 - $138/hr

The position reports to the Director, Risk Appetite, in the Risk Appetite & Portfolio Management team under Enterprise Risk, and ultimately the Chief Risk Officer (CRO). This position is an ...

New

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

This role works in close partnership with and in support of ElectronX's Chief Risk Officer to build and execute that framework. This isn't a role where you inherit a risk program and maintain it. You ...

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

This role works in close partnership with and in support of ElectronX's Chief Risk Officer to build and execute that framework. This isn't a role where you inherit a risk program and maintain it. You ...

Manager, Risk Appetite

Chicago, IL · On-site

$74K - $138K/yr

The position reports to the Director, Risk Appetite, in the Risk Appetite & Portfolio Management team under Enterprise Risk, and ultimately the Chief Risk Officer (CRO). This position is an ...

Director of Risk Management

Oak Brook, IL · On-site

$145.57 - $189.24/hr

Reporting directly to the Chief Risk Officer, EVP , the Director of Risk Management will oversee complex insurance programs, captive operations, claims management, and key financial and strategic ...

Sr. Product Manager - Credit Risk

Chicago, IL · On-site +1

$130K - $172K/yr

Job Summary The Senior Product Manager will report directly to the Chief Risk Officer (CRO) of NinjaHoldings. This person will be responsible for driving the initiatives that directly impact key ...

Showing results 21-40

Chief Risk Officer information

See Chicago, IL salary details

$102.1K

$197.7K

$395.9K

How much do chief risk officer jobs pay per year?

As of Aug 8, 2026, the average yearly pay for chief risk officer in Chicago, IL is $197,699.00, according to ZipRecruiter salary data. Most workers in this role earn between $173,700.00 and $196,400.00 per year, depending on experience, location, and employer.

What is a chief risk officer?

A chief risk officer (CRO) oversees financial risks for a business or other organization. As a CRO, your job duties involve identifying business risks, developing risk management policies, and performing risk assessments of new projects. You usually collaborate with all departments in your organization, as well as stakeholders and board members, to determine suitable levels of financial risk. It is essential to monitor company policies to ensure that all projects meet industry standards and government regulations. Chief risk officers may also be in charge of internal auditing, IT security, and insurance needs.

What is the difference between Chief Risk Officer vs Risk Manager?

AspectChief Risk OfficerRisk Manager
CredentialsTypically requires advanced degrees (MBA, Master’s in Risk Management) and professional certifications (FRM, CRM)Often holds a bachelor’s degree; certifications like CRM or FRM are common but not always required
Work EnvironmentExecutive-level, strategic planning, overseeing entire risk management frameworkOperational role, implementing risk policies, analyzing specific risks
Industry UsageUsed across finance, insurance, corporate sectors at the executive levelFound in various industries, focusing on day-to-day risk assessment and mitigation

The Chief Risk Officer (CRO) is a senior executive responsible for the overall risk management strategy of an organization, requiring advanced credentials and strategic oversight. In contrast, a Risk Manager handles specific risk assessments and mitigation activities, often with less seniority and fewer certifications. Both roles are vital but differ in scope, responsibilities, and level of seniority.

What is a chief risk officer?

A Chief Risk Officer (CRO) is a senior executive responsible for identifying, assessing, and mitigating risks that could impact an organization’s operations or objectives. The CRO oversees risk management strategies, ensures compliance with regulatory requirements, and works closely with other executives to develop policies that protect the company from financial, operational, and reputational harm. This role is especially important in industries such as finance, insurance, and healthcare, where risk management is critical to organizational success.

What are some common challenges a chief risk officer faces in aligning risk management strategies across different departments?

A Chief Risk Officer (CRO) often encounters challenges in ensuring that risk management policies are consistently implemented across departments with varying objectives and risk appetites. Communication gaps, differing priorities, and varying levels of risk awareness can make it difficult to create a unified risk culture. CROs must work closely with department heads to tailor risk strategies that align with business goals while maintaining compliance and minimizing exposure. Building strong relationships and fostering ongoing education are key to overcoming these challenges and promoting effective enterprise-wide risk management.

What does a chief risk officer make?

A Chief Risk Officer (CRO) typically earns a salary ranging from $150,000 to over $300,000 annually, depending on the industry, company size, and location. They often receive bonuses, stock options, and other benefits, reflecting their senior management role responsible for identifying and managing organizational risks.

What are the key skills and qualifications needed to thrive as a chief risk officer, and why are they important?

To thrive as a Chief Risk Officer, you need deep expertise in risk management, financial analysis, regulatory compliance, and typically an advanced degree in finance, law, or business. Familiarity with risk assessment software, governance frameworks (such as COSO or ISO 31000), and relevant certifications like FRM or CRM is highly valued. Strategic thinking, leadership, and strong communication skills enable effective collaboration across executive teams and clear risk reporting. These capabilities are vital for identifying threats, safeguarding organizational assets, and ensuring sound decision-making in a complex regulatory environment.
What cities near Chicago, IL are hiring for Chief Risk Officer jobs? Cities near Chicago, IL with the most Chief Risk Officer job openings:
Infographic showing various Chief Risk Officer job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 9% Part Time, and 3% Contract. Highlights an 89% Physical, 4% Hybrid, and 7% Remote job distribution, with an average salary of $197,699 per year, or $95 per hour.

Director of Office of Performance Assurance and Chief Risk Officer

Fermilab

Batavia, IL • On-site

$248K - $341K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 12 days ago


Fermilab rating

9.1

Company rating: 9.1 out of 10

Based on 9 frontline employees who took The Breakroom Quiz

11th of 120 rated laboratories


Job description

The expected hiring range for this position is:
$248,100.00-$341,300.00.
Please note that the pay range information is a general guideline only. The pay offered to a selected candidate will be determined based on factors such the scope and responsibilities of the position, qualifications of the selected candidate, business considerations, internal equity, and external market pay for comparable jobs.
About the Role:
The Director of the Office of Performance Assurance (OPA) is a member of Fermi National Accelerator Laboratory's (FNAL, Fermilab, or the Laboratory) Senior Leadership Team and is directly accountable to the Laboratory Director for providing leadership, vision, management, direction, oversight, and strategic and tactical planning for executing all aspects of the Laboratory's Contractor Assurance System (CAS). The Laboratory's CAS program is designed to enable outstanding science and operational excellence, while ensuring compliance with Fermi Forward Discovery Group's (FFDG) prime contract requirements with the US Department of Energy (DOE) and other applicable requirements.
The Director of OPA also serves as the Laboratory's Chief Risk Officer, and in this role, is responsible for: 1) independently managing FNAL's enterprise risk management system (ERMS) to ensure Laboratory risks are identified, tracked, and addressed; 2) leading interactions with the FNAL Senior Leadership Team, DOE, and FFDG Members to identify, track, and address enterprise risks; and (3) independently develop leading risk indicators that specify the health of the Laboratory for FNAL and FFDG Member leadership.
The Director of OPA is also responsible for working with FFDG Members and the DOE Fermi Site Office (FSO) in implementing the Fermi/DOE prime contract and for managing the DOE-Office of Science Contractor Performance Evaluation and Management Plan (PEMP). The Director of OPA is additionally responsible for overseeing and managing the Laboratory's institutional policies within frameworks set by FFDG Members and DOE requirements. The OPA Director leads a team of professionals who manage these programs as well as programs for institutional metrics, assessment, issues management, event reporting and investigation, lessons learned, and quality assurance.
The OPA Director is expected to partner with Laboratory line management to enable and foster a proactive and integrated suite of management systems that collectively promotes an urgent need for critical self-evaluation and sustained improvement through the use of CAS of tools and processes.
What your day-to-day as a Director of the Office of Performance Assurance (OPA) at Fermilab will look like:
  • Leadership and direction in implementing CAS to support the Laboratory's efforts to safely, effectively, and efficiently deliver its mission and projects and achieve operational excellence. Evaluate Laboratory performance and provide reasonable assurance to FFDG Members and DOE that the Laboratory has a set of management systems and processes that fulfill the requirements of the FFDG/DOE prime contract to manage and operate FNAL.
  • Deployment, maintenance, and oversight of all elements of FNAL's Performance Assurance management system, including enterprise risk management, management and independent assessment, metrics, feedback and improvement, institutional policies and requirements, and continuous improvement.
  • Working with Fermilab's Office of General Counsel (OGC), manage and maintain the FFDG/DOE prime contract and oversight of the Laboratory's completion of prime contract deliverables.
  • Oversight, advice, and counsel to FNAL management and staff on all CAS and QA-related matters. Processes and tools that provide DOE and FFDG access to CAS-related information and notifying stakeholders of assurance system changes.
  • Management of the Laboratory's PEMP processes including preparation and submittal of periodic FNAL PEMP self-evaluations to DOE FSO and Headquarters program offices and completion of the annual Contract Performance Assessment Reporting System (CPARS) process.
  • Leadership and direction in implementing QA to support the Laboratory's efforts to safely effectively and efficiently deliver its mission and projects and achieve operational excellence.
  • Responsible for hiring and retaining staff, career coaching, personal development for direct reports, and accountable for the performance of employees.
  • Provide strategic direction for multiple areas of business; create strategic plans of considerable complexity and scope; set long range direction and make high level decisions.
  • Responsible for the financial viability and success of the OPA organization.
  • Responsible for committing FFDG resources with limited review by senior management.
  • Advise executive management on programmatic and policy development.
  • Negotiate and influence FFDG leaders on issues that have Laboratory-wide impact.

Skills and Attributes for Success:
  • Bachelor's degree and a minimum of 15 years of relevant experience or a Master's degree and a minimum of 10 years of relevant experience, or combination of education and relevant experience in operations management, project management, financial management, or risk management.

Applicable Knowledge, Skills and Abilities Required:
  • Exceptional interpersonal, negotiation and political acumen skills. Skills in communicating issues with senior leadership peers to devise responsive, efficient business solutions to program-critical tasks, including demonstrated ability to present complex issues in clear, concise terms.
  • Oral and written communication skills and the ability to work within regulatory guidelines, with internal and external contacts of varying level of expertise and authority, and to achieve assigned goals to the benefit of the organization and the Laboratory.
  • Ability to supervise and lead multidisciplinary teams, including the ability to develop strategies to attract, develop and retain a high-performing diverse staff.
  • Demonstrated ability to exercise executive level judgment and leadership to balance mission, project and operational risk for programs, budget, personnel and institutional assets.
  • Established positive experience working with auditors, inspectors and other regulatory personnel/agencies, preferably the DOE or other similar agency.
  • Proven ability to exercise independent judgment in situations of ambiguous or unforeseeable outcomes or emergencies.
  • Ability to travel and work extended hours when needed.

Work Arrangement:
Please note that the described work arrangement is subject to change based on business needs and is not guaranteed to be final.
Onsite: This is an onsite role, and the candidate must be able to work from our Batavia office.
Benefits/Perks:
  • Fermilab offers a competitive and comprehensive benefits program, including:
  • Medical, Dental, Vision and Flexible Spending Accounts
  • Paid time off
  • Life insurance
  • Short and Long-term disability insurance
  • Retirement benefits
  • Onsite day care

Why Fermilab:
Fermilab is America's premier laboratory for particle physics and accelerator research, funded by the U.S. Department of Energy. We support discovery science experiments in Illinois and locations around the world, including deep underground mines in South Dakota and Canada, mountaintops in Arizona and Chile, CERN in Europe and the South Pole.
Pre-Employment Screening:
Drug-Free Workplace & Pre-Employment Screening
Fermilab is dedicated to fostering a safe, productive and drug-free environment. An offer of employment is contingent upon the successful completion of a background check and drug screening.
HSPD-12
In accordance with Homeland Security Presidential Directive 12 (HSPD-12) new employees are required to obtain and maintain a HSPD-12 Personal Identity Verification (PIV) Credential. To obtain this credential, new employees must successfully complete and pass a federal background check investigation. This investigation includes a declaration of illegal drug activities, including use, supply, possession, or manufacture. This includes marijuana and cannabis derivatives, which are still considered illegal under federal law, regardless of state laws. Failure to obtain or maintain such government access authorization could result in the withdrawal of a job offer or future termination of employment.
Foreign Government Sponsored Activities
Fermilab employees, and certain guest researchers and contractors, are subject to particular restrictions related to participation in Foreign Government Sponsored or Affiliated Activities, as defined and detailed in United States Department of Energy Order 486.1A. Such individuals will be asked to disclose any participation for review by Fermilab's Office of General Counsel.
REAL-ID Requirement for access to Fermilab Campus
Fermilab requires all members of the public to produce a REAL-ID, or equivalent, to access the Fermilab Campus for interviews or career events. A list of acceptable forms of ID can be found here: https://get-connected.fnal.gov/wp-content/uploads/2021/09/REALID-Documents.pdf. If a candidate is selected for an interview but does not possess any of the equivalent documents, we may schedule a virtual interview.
Equal Opportunity Statement
Fermilab is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

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