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

Sinai Chicago

Director of Risk Management

Chicago, IL · On-site

The Director of Risk Management will collaborate closely with executive leadership, operational departments, legal counsel, compliance teams, and clinical stakeholders to identify, evaluate, and ...

Sinai Chicago

Director of Risk Management

Chicago, IL · On-site

The Director of Risk Management will collaborate closely with executive leadership, operational departments, legal counsel, compliance teams, and clinical stakeholders to identify, evaluate, and ...

inlandgroup

Director of Risk Management

Oak Brook, IL · On-site

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 ...

Coinme

Director of Payments & Risk

Chicago, IL

The Director of Payments & Risk owns that mission end to end: the fraud defense strategy, the AI ... You build and govern AI-assisted workflows that carry much of the operational load, and you develop ...

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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 Sep 11, 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 September 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $147,501 per year, or $70.9 per hour.

Director of Risk Management

Chicago, IL • On-site

Sinai Chicago
Health Care and Social Assistance • 5 - 10K employees
Learn more about Sinai Chicagoexternal

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 2 days ago

Sinai Chicago rating

7.8

Company rating: 7.8 out of 10

Based on 15 frontline employees who took The Breakroom Quiz

Job description

About Us
At Sinai Chicago, we take health care personally. Excellence in health care is about more than medicine, technology, tests, and treatments. It is about caring for people with dignity and respect. We are dedicated to providing exceptional care for our patients, supporting our community, and creating meaningful opportunities for our team members.
Position Summary
Sinai Chicago is seeking an experienced Director of Risk Management to lead and oversee the organization's comprehensive risk management program. Reporting directly to the General Counsel, this leadership role is responsible for safeguarding Sinai Health System's assets, operations, and reputation through proactive risk assessment, loss prevention, insurance management, litigation oversight, and regulatory compliance initiatives.
The Director of Risk Management will collaborate closely with executive leadership, operational departments, legal counsel, compliance teams, and clinical stakeholders to identify, evaluate, and mitigate organizational risks while supporting the Enterprise Risk Management (ERM) strategy.
Key Responsibilities
  • Develop, implement, and administer a system-wide Risk Management Program.
  • Analyze risk data, identify trends, and develop mitigation strategies to reduce organizational exposure.
  • Lead insurance and risk financing programs, including policy management and claims oversight.
  • Oversee litigation management in partnership with legal counsel and external stakeholders.
  • Conduct annual enterprise-wide risk assessments and recommend corrective action plans.
  • Develop and facilitate risk management education and training programs for staff and leadership.
  • Partner with executive leadership to support strategic risk management initiatives.
  • Provide guidance on regulatory, compliance, and risk-related matters affecting the organization.
  • Collaborate with the Chief Compliance Officer and Enterprise Risk Counsel to execute the Enterprise Risk Management Plan.
  • Participate in the development and review of organizational policies, procedures, and programs.
  • Maintain current knowledge of federal, state, and local healthcare regulations, accreditation standards, and industry best practices.
  • Foster strong relationships with internal and external stakeholders, including insurance carriers, legal partners, clinical leaders, and professional organizations.
  • Perform additional duties as assigned.
Qualifications
Required
  • Minimum of 3 years of healthcare experience in a healthcare setting.
  • Strong understanding of healthcare operations and risk management principles.
  • Excellent verbal, written, analytical, and problem-solving skills.
  • Demonstrated business acumen with the ability to balance strategic objectives and operational needs.
  • Ability to assess risk and recommend effective mitigation strategies.
  • Proficiency in Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint.
Preferred
  • Experience in healthcare risk management.
  • Experience managing insurance programs and litigation matters.
  • Working knowledge of federal and state healthcare regulations, including:
    • HIPAA Privacy and Security requirements
    • Medicare and Medicaid regulations
    • Healthcare accreditation standards
    • Non-discrimination and regulatory compliance requirements
Ideal Candidate
The successful candidate will be a strategic and collaborative leader who can navigate complex healthcare environments, influence decision-making, and drive risk reduction initiatives across the organization. They will possess strong relationship-building skills, sound judgment, and the ability to communicate effectively with executives, physicians, clinical teams, and external partners.
Work Environment
  • General office environment.
  • Moderate noise level.
  • Occasional travel throughout the health system may be required.
Physical Requirements
  • Regularly required to sit, communicate, and utilize standard office equipment.
  • Occasionally required to stand and move throughout facilities.
  • Ability to lift and/or move up to 25 pounds occasionally.
  • Requires close vision, distance vision, and the ability to adjust focus.
Exposure Classification
Blood-Borne Pathogen Exposure Category 3
This position does not involve routine exposure to blood, body fluids, non-intact skin, or tissue specimens and does not require participation in emergency medical care or first aid activities.
Benefits
Sinai Chicago offers a comprehensive benefits package that may include:
  • Medical, Dental, and Vision Coverage
  • Prescription Drug Coverage
  • Health Savings Account (HSA)
  • Flexible Spending Account (FSA)
  • Employer-Paid Life Insurance and AD&D
  • Supplemental Life Insurance
  • Short-Term and Long-Term Disability
  • Employee Assistance Program (EAP)
  • Student Loan Assistance Program
  • Retirement and Additional Wellness Benefits

Eligibility for certain benefit programs may be based on scheduled hours worked and completion of applicable waiting periods.
Our Values
Teamwork
  • Collaborate effectively to create an inclusive and supportive workplace.

Respect
  • Treat every individual with dignity, fairness, and appreciation for their unique contributions.

Quality
  • Commit to continuous improvement, learning, and excellence in patient care.

Integrity
  • Demonstrate honesty, accountability, and ethical decision-making.

Safety
  • Promote a safe environment for patients, visitors, and colleagues.

Role Model
  • Lead by example and champion organizational values in every interaction.
Join Sinai Chicago
If you are a strategic healthcare leader with a passion for risk management, compliance, and organizational excellence, we encourage you to apply and help us continue our mission of delivering compassionate, high-quality care to the communities we serve.

What Sinai Chicago employees say

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About Sinai Chicago

Sourced by ZipRecruiter

Sinai Chicago is an integral part of the healthcare industry, established to provide quality and accessible healthcare for the Chicago, IL, US community. The organization operates across various healthcare sectors including teaching, research, and providing clinical care. Since its inception in 1919, Sinai Chicago has been resolute in improving the health of the people and communities it serves, with a focus on delivering value-based care to areas with pressing health needs. The core values of Sinai Chicago include respect, integrity, teamwork, accountability, and quality. The company's mission and commitment lie in nurturing healthier communities through the provision of accessible, quality healthcare.

Industry

Health care and social assistance and hospitals

Company size

5,001 - 10,000 Employees

Headquarters location

Chicago, IL, US

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