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Director Operational Risk Jobs in Chicago, IL (NOW HIRING)

Altorfer CAT

Director of Safety & Risk Management

Addison, IL

$95K - $140K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

The Director of Safety & Risk Management will play a critical leadership role in protecting our ... Identify and reduce safety, operational, environmental, fleet, property, regulatory, and ...

pepperconstruction

Director, Risk Management

Barrington, IL · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

The Director, Corporate Risk Management will lead the Company's enterprise risk management strategy ... Works closely with Operations, Safety, Fleet Management, Human Resources, Facilities Management ...

pepperconstruction

Director, Risk Management

Barrington, IL

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

The Director, Corporate Risk Management will lead the Company's enterprise risk management strategy ... Works closely with Operations, Safety, Fleet Management, Human Resources, Facilities Management ...

Pepper Construction

Director, Risk Management

Barrington, IL · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

The Director, Corporate Risk Management will lead the Company's enterprise risk management strategy ... Works closely with Operations, Safety, Fleet Management, Human Resources, Facilities Management ...

Pepper Construction Group

Director, Risk Management

Barrington, IL · On-site

$170 - $210/hr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Uses claims trends to drive loss prevention and operational improvements Operational Risk & Loss Control * Works closely with Operations, Safety, Fleet Management, Human Resources, Facilities ...

Clear Street

Associate Director, Risk & Margin

Chicago, IL · On-site

$125K - $170K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

... Director to join our Risk/ Margin team. This critical role involves overseeing daily margin ... Partner with Technology, Operations, Legal, and Front Office teams to execute new product launches ...

Smarkets

Chief Risk Officer

Chicago, IL · On-site

$150 - $200/hr

... operational risk within a DCM, DCO, or comparable regulated market infrastructure in the United States, with direct responsibility for risk and system safeguards, not advisory or supporting ...

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Showing results 1-20

All JobsOperational Risk JobsDirector Operational Risk JobsDirector Operational Risk Jobs in Chicago, IL

Director Operational Risk information

See Chicago, IL salary details

$55.6K

$147.5K

$267.8K

How much do director operational risk jobs pay per year?

As of Aug 19, 2026, the average yearly pay for director operational risk in Chicago, IL is $147,501.00, according to ZipRecruiter salary data. Most workers in this role earn between $108,700.00 and $172,500.00 per year, depending on experience, location, and employer.

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.

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 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.

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 Chicago, IL?

The most popular types of Operational Risk jobs in Chicago, IL are:

What are popular job titles related to Director Operational Risk jobs in Chicago, IL?

For Director Operational Risk jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Director Operational Risk jobs in Chicago, IL look for?

The top searched job categories for Director Operational Risk jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Director Operational Risk jobs?

Cities near Chicago, IL with the most Director Operational Risk job openings:

Director Operational Risk jobs near you
Infographic showing various Director Operational Risk job openings in Chicago, IL as of August 2026, with employment types broken down into 100% Full Time. Highlights an 92% In-person, and 8% Hybrid job distribution, with an average salary of $147,501 per year, or $70.9 per hour.

Operational Risk Management Analyst

Swoon Technology Resources LLC

Chicago, IL • On-site

$80K/yr

Full-time

Posted yesterday

New

Job description

Location: chicago,Illinois
Expected Start Date: Jul 22, 2026
US Operational Risk Management Analyst
Location: Chicago, IL (Hybrid - 3 days onsite)
Employment Type: Direct Hire
Salary: $80,000
Must Have
  • Bachelor's Degree
  • 2-4 years of professional experience
  • Experience within Financial Services
  • Exposure to Operational Risk, Risk Management, Governance, Compliance, Internal Audit, or related functions
  • Strong analytical skills

Nice to Have
  • Banking experience
  • Consulting background (Big Four or Risk Advisory)
  • Power BI
  • MetricStream
  • Governance reporting experience
  • Change Management exposure
  • Enterprise Risk programs
  • Risk & Control Self Assessment (RCSA)

About the Opportunity
Our client is looking for an Analyst, US Operational Risk Management to join their growing US Risk organization. This role is ideal for an early-career risk professional looking to build broad exposure across enterprise operational risk while working alongside senior leaders responsible for governance, operational resilience, regulatory programs, and risk transformation.
Unlike traditional operational risk roles focused on a single function, this position is designed as a rotational development opportunity, allowing the analyst to gain experience across multiple operational risk disciplines while supporting enterprise-wide initiatives that impact the entire US organization.
This individual will work closely with leadership across Risk Management, Internal Audit, Compliance, Technology, Data & AI, and business stakeholders to help strengthen CIBC's Operational Risk framework.
What You'll Be Doing
Operational Risk Program Support
  • Support execution of the US Operational Risk Management (ORM) program
  • Prepare recurring operational risk reporting and executive-level management materials
  • Assist with Risk & Control Self Assessments (RCSA)
  • Support operational loss reporting and metrics
  • Track remediation activities and follow-up actions
  • Coordinate governance meetings and committee materials
Risk Assessments
  • Participate in operational risk assessments
  • Gather and analyze risk data
  • Document risks, controls, issues, and action items
  • Support Change Initiative Risk Assessments
  • Assist with governance documentation and reporting
Analytics & Reporting
  • Analyze operational risk trends
  • Build executive reporting packages
  • Maintain dashboards and reporting trackers
  • Identify process improvements through data analysis
  • Support reporting accuracy and quality control
Cross-Functional Projects
This role will rotate across multiple Operational Risk disciplines, including:
  • Operational Risk Governance
  • Third-Party Risk
  • Operational Resilience
  • Business Continuity
  • Cyber Risk
  • Data Risk
  • Fraud Risk
  • Physical Security Risk
  • Change Management
  • Portfolio Management
  • Control Testing

You'll gain exposure to multiple enterprise risk functions while supporting strategic initiatives across the US organization.

Apply