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

Early Warning Services

Sr. IT Risk Manager

Chicago, IL · Hybrid

... and operational risk programs, promoting an environment of risk awareness and ownership in the ... Ability to direct a team on managing risk management responsibilities while addressing unexpected ...

PayPal

Director, Risk Management

Chicago, IL

$176K - $262K/yr

Establish overall business or technical strategy for risk management with significant impact on operations. * Influence executive-level decision-making through strategic risk assessments and ...

PayPal, Inc.

Director, Risk Management

Chicago, IL · On-site

$176K - $262K/yr

Establish overall business or technical strategy for risk management with significant impact on operations. * Influence executive-level decision-making through strategic risk assessments and ...

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

Director Operational Risk information

See Wheaton, IL salary details

$52.2K

$138.4K

$251.3K

How much do director operational risk jobs pay per year?

As of Jun 9, 2026, the average yearly pay for director operational risk in Wheaton, IL is $138,389.00, according to ZipRecruiter salary data. Most workers in this role earn between $102,000.00 and $161,900.00 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 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 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 job categories do people searching Director Operational Risk jobs in Wheaton, IL look for? The top searched job categories for Director Operational Risk jobs in Wheaton, IL are:
What cities near Wheaton, IL are hiring for Director Operational Risk jobs? Cities near Wheaton, IL with the most Director Operational Risk job openings:
Director Operational Risk jobs near you
AVP, Risk Manager

AVP, Risk Manager

Zurich Insurance Company Ltd.

Schaumburg, IL • Hybrid

$110K - $180K/yr

Full-time

Posted 8 days ago

Job description

Zurich North America is seeking an AVP, Risk Manager to provide second line oversight and governance across business units. This role partners with senior stakeholders to ensure risk management practices are effectively embedded, supports risk-informed decision making, and ensures alignment with enterprise and regulatory expectations.

The AVP, Risk Manager can work out of our Chicago, IL or Schaumburg, IL North America HQ in a hybrid schedule.  This person will report to the Head of Strategic and Operational Risk.

The AVP-Risk Manager will provide independent oversight and challenge of business unit risk activities, ensuring effective governance and alignment with enterprise standards. This person will lead and support project and strategic risk assessments, support execution and ongoing management of TRP and SAOR frameworks, including coordination, review, and consolidate risk inputs to support enterprise reporting, oversee risk action plans, including monitoring progress, assessing effectiveness, and validating; trigger and manage the quarterly attestation process, ensuring timely and complete submissions.

Basic Qualifications:

  • Bachelor’s Degree in Risk Management and 7 or more years of experience in the Risk Management área OR
  • High School Diploma or Equivalent and 9 or more years of experience in the Risk Management área OR
  • Zurich Certified Insurance Apprentice including an Associate’s Degree in Risk Management and 7 or more years of experience in the Risk Management área AND
  • 7 or more years in the insurance or financial industry, including experience in different technical functions
  • Knowledge in risk management or risk engineering

Preferred Qualifications:

  • Strong ability to challenge and influence senior stakeholders
  • Experience with risk frameworks, governance, and regulatory expectations
  • Proven ability to manage multiple priorities and deliver high-quality outputs
  • Strong written and verbal communication skills
  • Advanced degree and/or professional risk or finance certification
  • Demonstrates independent judgment and effective challenge
  • Applies an enterprise-wide perspective to risk assessment and decision-making
  • Influences outcomes in a matrixed environment
  • Ensures strong governance, execution, and delivery discipline
  • Builds capability through coaching and enablement across teams

Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply—your unique background matters to us.

The pay range shown is a national average and may vary by location. The proposed salary range for this position is $110,220 - $180,510, with short-term incentive bonus eligibility set at 20%.

 

Why Zurich?

At Zurich, we value your ideas and experience. We offer growth, inclusion, and a supportive environment—so you can help shape the future of insurance. Zurich North America is a leader in risk management, with over 150 years of expertise and coverage across 25+ industries, including 90% of the Fortune 500®.

Join us for a brighter future—for yourself and our customers.

Zurich in North America does not discriminate based on race, ethnicity, color, religion, national origin, sex, gender expression, gender identity, genetic information, age, disability, protected veteran status, marital status, sexual orientation, pregnancy or other characteristics protected by applicable law. Equal Opportunity Employer disability/vets.

Zurich complies with 18 U.S. Code § 1033.

 

Please note: Zurich does not accept unsolicited CVs from agencies. Preferred vendors should use our Recruiting Agency Portal.

Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No  
Linkedin Recruiter Tag: #LI-MG1 #LI-DIRECTOR 

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