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Director Operational Risk Jobs in Arizona (NOW HIRING)

OMC

Risk Director

Phoenix, AZ

As Risk Director, you'll lead the enterprise-wide risk management program -- from insurance ... Operational Risk Oversight * Identify, quantify, and monitor operational risks across safety ...

Okland Construction Co., Inc.

Risk Director

Phoenix, AZ · On-site

As Risk Director, you'll lead the enterprise-wide risk management program - from insurance strategy ... Operational Risk Oversight * Identify, quantify, and monitor operational risks across safety ...

OMC

Risk Director

Phoenix, AZ

As Risk Director, you'll lead the enterprise-wide risk management program -- from insurance ... Operational Risk Oversight * Identify, quantify, and monitor operational risks across safety ...

Early Warning Services

IT Risk Manager

Scottsdale, AZ · Hybrid

... Director if meeting departmental goals and objectives. * Build and manage the business line's centralized LOD1 function; act as business-line liaison to Enterprise Risk Management, Operational Risk ...

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Director Operational Risk information

See Arizona salary details

$50.3K

$133.4K

$242.3K

How much do director operational risk jobs pay per year?

As of May 30, 2026, the average yearly pay for director operational risk in Arizona is $133,432.00, according to ZipRecruiter salary data. Most workers in this role earn between $98,300.00 and $156,100.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Director of Operational Risk, and why are they important?

A Director of Operational Risk needs deep knowledge of risk management frameworks, regulatory requirements, and operational processes, typically supported by a degree in finance, business, or a related field. Familiarity with risk assessment tools, data analytics platforms, and certifications such as FRM or CRM is highly valued. Strong leadership, analytical thinking, and effective communication are essential soft skills for guiding teams and influencing stakeholders. These competencies are crucial for identifying, assessing, and mitigating risks that could impact organizational objectives and regulatory compliance.

How does a Director of Operational Risk typically collaborate with other departments to manage enterprise-wide risks?

A Director of Operational Risk works closely with teams across the organization—including compliance, internal audit, IT, and business unit leaders—to identify, assess, and mitigate potential risks. This collaboration often involves organizing risk assessments, sharing best practices, and developing response strategies for incidents. Regular cross-functional meetings and reporting are common, ensuring that risk management is integrated into day-to-day business operations. Effective communication and relationship-building are crucial for success in this role, as the Director must foster a risk-aware culture throughout the company.

What does a Director of Operational Risk do?

A Director of Operational Risk is responsible for identifying, assessing, and mitigating risks that could impact an organization's operations. They develop risk management strategies, implement controls, and ensure compliance with relevant regulations. This role typically involves collaborating with different departments, reporting to senior management, and overseeing risk assessments and audits. The goal is to minimize losses and protect the organization from potential operational failures or external threats.

What is the difference between Director Operational Risk vs Risk Manager?

AspectDirector Operational RiskRisk Manager
CredentialsTypically requires advanced degrees (e.g., MBA, Risk Management certifications)Often requires similar certifications but may have less emphasis on advanced degrees
Work EnvironmentStrategic, leadership-focused, overseeing risk frameworks across departmentsOperational, focused on identifying and mitigating specific risks within teams
Employer & Industry UsageCommon in banking, finance, insurance, and large corporationsFound across various industries including finance, healthcare, and manufacturing

The main difference is that the Director of Operational Risk typically holds a senior leadership role responsible for setting risk strategies and policies, while the Risk Manager focuses on implementing risk mitigation measures at the operational level. Both roles require relevant certifications and experience, but the Director position involves broader strategic oversight.

What are the most commonly searched types of Operational Risk jobs in Arizona? The most popular types of Operational Risk jobs in Arizona are:
What are popular job titles related to Director Operational Risk jobs in Arizona? For Director Operational Risk jobs in Arizona, the most frequently searched job titles are:
What job categories do people searching Director Operational Risk jobs in Arizona look for? The top searched job categories for Director Operational Risk jobs in Arizona are:
What cities in Arizona are hiring for Director Operational Risk jobs? Cities in Arizona with the most Director Operational Risk job openings:
Director Operational Risk jobs near you
Enterprise Risk Management (ERM) Operational Risk Director

Enterprise Risk Management (ERM) Operational Risk Director

Western Alliance Bank

Phoenix, AZ

Full-time

Medical, Dental, Retirement

Posted 24 days ago

Job description

Job Title:

Enterprise Risk Management (ERM) Operational Risk Director

Location:

CityScape

What you'll do:

As an ERM Operational Risk Director you will lead a team that develops and implements programs to identify, measure, monitor, and control risks throughout the organization. You'll play a key role in the Bank's Enterprise and Operational Risk Management Team, who is responsible for several enterprise-wide programs, including Risk and Control Self-Assessment (RCSA), Operational Loss, Controls Testing, Operational Risk Issues and Key Risk Indicators (KRI).
  • The Operational Risk Director will be responsible for overseeing a team that develops and executes the RCSA and Operational Loss programs, including methodology, policies and standards, reporting, training, and continuous improvement.
  • Oversee execution and enhancement of the RCSA Program, including maintaining standards for risk identification and effective challenge, maintaining the bank's risk taxonomy, and managing technology used to execute the RCSA program.
    Collaborate across the three lines of defense to ensure adherence to RCSA Program requirements.
    Develop executive level reporting to track execution and to aggregate RCSA results for management and the Board.
  • Oversee the operational risk scenario analysis for use in the Capital Stress Tests.
  • Develop and oversee a bank-wide Operational Loss Program, including creation of standards, partnering with the 1LOD for successful program adoption, providing effective challenge, and creation of reporting.
  • Perform operational risk effective challenge over various programs including issues, KRIs, RCSAs, and operational losses.
  • Manage a medium to large team (6-16) and help develop, train, and drive continuous improvement.

What you'll need:

  • 10+ years related experience in Risk Management, Internal Audit, SOX, and Financial Institutions.
  • Bachelor's degree in related field required. Masters or MBA in related field preferred
  • Previous leadership experience required.
  • Advanced to expert knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
  • Advanced to expert knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
  • Advanced to expert knowledge of industry and professional experience across one or more of the three lines of defense (e.g., banking operations, information technology, SOX, compliance, risk management, audit).
  • Advanced to expert knowledge and experience with risk and control frameworks (COSO ERM Framework, Basel etc)
  • Advanced to expert knowledge of risk management tools and systems and advanced proficiency in Microsoft Office Suite (Word, Excel, and PowerPoint).
  • Advanced to expert technical knowledge of risk frameworks and industry best practices.
  • Advanced to expert experience with developing KRIs, enterprise Issue Management, risk and controls, within a financial services company.
  • Expert speaking and writing communication skills.
  • Professional certification or advanced degree in Risk Management, Accounting, Banking, Legal, or associated field of study preferred.

Benefits you'll love:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!

About the company:

Western Alliance Bank, Member FDIC, is a wholly owned subsidiary of Western Alliance Bancorporation. Serving clients nationwide, Western Alliance Bank includes six legacy bank brands - Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank - that remain part of the company's heritage, as well as AmeriHome Mortgage, a Western Alliance Bank Company.

Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.

Western Alliance Bancorporation

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