1

Head Risk Management Jobs in Illinois (NOW HIRING)

Head of Procurement

Chicago, IL · On-site

$160K - $180K/yr

The Head of Procurement is a pivotal leadership role within the Finance & Real Estate organization ... Enhance existing vendor risk management practices in partnership with Compliance and InfoSec.

Head of Procurement

Chicago, IL · Hybrid

$160K - $180K/yr

The Head of Procurement is a pivotal leadership role within the Finance & Real Estate organization ... Enhance existing vendor risk management practices in partnership with Compliance and InfoSec.

Head of Capital Management

Chicago, IL · On-site

$201K - $241K/yr

Head of Capital Management, Argo Group At Argo Group, we invite you to elevate your career as our ... Collaborating across finance, actuarial, ceded, ERM, and risk teams to advance stress testing ...

next page

Showing results 1-20

Head Risk Management information

See Illinois salary details

$52.3K

$138.7K

$251.9K

How much do head risk management jobs pay per year?

As of Jul 15, 2026, the average yearly pay for head risk management in Illinois is $138,749.00, according to ZipRecruiter salary data. Most workers in this role earn between $102,200.00 and $162,300.00 per year, depending on experience, location, and employer.

What does a head of risk management do?

A head of risk management oversees an organization's risk assessment and mitigation strategies to minimize financial, operational, and compliance risks. They develop policies, analyze data, and coordinate with other departments to ensure risks are managed effectively, often requiring strong analytical skills and industry certifications. Their role involves continuous monitoring and reporting to senior leadership to support informed decision-making.

What is the highest salary for a risk manager?

The highest salaries for a risk manager can exceed $150,000 annually, especially for those with extensive experience, advanced certifications like FRM or CFA, and leadership roles in large organizations or financial institutions. Senior risk managers or chief risk officers often earn higher compensation, including bonuses and incentives based on company performance.

What are some common challenges faced by a Head of Risk Management, and how can candidates prepare to address them?

A Head of Risk Management often faces challenges such as balancing regulatory compliance with business objectives, managing emerging risks, and fostering a risk-aware culture across departments. Candidates should be prepared to navigate complex regulatory landscapes, communicate effectively with both executive leadership and operational teams, and implement proactive risk assessment frameworks. Staying updated on industry trends and building strong cross-functional relationships are key to successfully mitigating risks and supporting organizational goals.

What is the difference between Head Risk Management vs Risk Analyst?

AspectHead Risk ManagementRisk Analyst
CredentialsTypically requires advanced degrees (e.g., MBA, CFA) and extensive experienceUsually requires a bachelor's degree, often with certifications like FRM or CFA
Work EnvironmentStrategic leadership, overseeing risk policies across departmentsData analysis, risk assessment, and reporting within teams
Industry UsageExecutive-level role in finance, banking, insurance, and corporate sectorsOperational role in risk assessment teams across similar industries

The Head Risk Management focuses on strategic oversight and policy development at an executive level, while the Risk Analyst handles detailed risk assessments and data analysis. Both roles are essential in risk management but differ in scope, responsibilities, and seniority.

What is the highest paying risk management job?

The highest paying risk management roles are often senior executive positions such as Chief Risk Officer (CRO) or Director of Risk Management, with salaries exceeding $200,000 annually. These roles require extensive experience, advanced certifications like FRM or CRM, and strong leadership skills in overseeing enterprise-wide risk strategies.

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

To thrive as a Head of Risk Management, you need deep expertise in risk assessment, regulatory compliance, and financial analysis, typically backed by a relevant degree and experience in risk-related roles. Familiarity with risk management frameworks, enterprise risk management (ERM) systems, and certifications like FRM or PRM are highly valued. Strategic thinking, leadership, and strong communication skills set outstanding risk leaders apart. These capabilities are crucial to effectively identify, mitigate, and communicate risks that could impact organizational objectives.

How much does a head of risk management make?

The salary for a head of risk management typically ranges from $100,000 to $200,000 annually, depending on the industry, company size, location, and experience. Senior risk managers with certifications like FRM or CRM often earn higher compensation, especially in financial services and large corporations.
What are the most commonly searched types of Risk Management jobs in Illinois? The most popular types of Risk Management jobs in Illinois are:
What cities in Illinois are hiring for Head Risk Management jobs? Cities in Illinois with the most Head Risk Management job openings:
Head of PMO, Transformation Office

Head of PMO, Transformation Office

Northern Trust

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 13 days ago


Northern Trust rating

8.1

Company rating: 8.1 out of 10

Based on 26 frontline employees who took The Breakroom Quiz


Job description

About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world's most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Lead enterprise-scale transformation. Shape the future of Wealth Management and Northern Trust.
The Transformation Office is responsible for driving enterprise-wide strategic transformation across Northern Trust, partnering with senior leaders to translate strategy into measurable, sustained business outcomes. With a significant focus on transforming Wealth Management, the team leads complex initiatives across strategy, operating model design, data and AI, technology, and change management to reimagine how we serve clients, empower employees, and drive growth. Through a combination of strategic execution, innovation, and disciplined delivery, the Transformation Office builds the capabilities, frameworks, and solutions that enable lasting impact across Wealth Management and the broader enterprise.
Build the capability. Enable the transformation.
Join the Transformation Office at an exciting stage of growth and help build a high-performing function focused on delivering enterprise-wide transformation. Reporting to the Head of Transformation Enablement, the Head of PMO will be responsible for establishing and leading the program management capability that drives the successful execution of strategic transformation initiatives across the organization.
This role will serve as the central leader for transformation governance, execution oversight, portfolio management, and delivery excellence. Working closely with executive leadership, the Head of PMO will ensure strategic priorities are translated into actionable plans, managed through rigorous governance, and delivered with measurable business outcomes.
Key Responsibilities
Enterprise Transformation Delivery
  • Partner with the Chief Transformation Officer and senior business leaders to execute the enterprise transformation agenda.
  • Translate strategic objectives into integrated transformation plans, roadmaps, milestones, and measurable success metrics.
  • Provide oversight and direction for a portfolio of complex, cross-functional transformation initiatives spanning business, operations, technology, data, and change management.
  • Ensure programs are delivered on time, within scope, and aligned to intended business outcomes.

PMO Leadership & Governance
  • Build, lead, and continuously enhance the PMO function within the Transformation Office.
  • Establish enterprise program management standards, methodologies, tools, and reporting frameworks.
  • Implement governance processes that provide transparency, accountability, and effective decision-making.
  • Oversee portfolio prioritization, resource allocation, dependency management, risk management, and escalation processes.
  • Ensure robust performance tracking, benefits realization, and ROI measurement across all transformation initiatives.

Delivery Excellence
  • Drive disciplined program and portfolio management practices across the transformation portfolio.
  • Develop repeatable frameworks, templates, and best practices that enable consistent execution and scalability.
  • Monitor program performance and proactively address risks, issues, and delivery challenges.
  • Promote a culture of accountability, execution excellence, and continuous improvement.

Stakeholder Management
  • Build strong relationships with executive sponsors, business leaders, and functional stakeholders across the enterprise.
  • Provide regular executive-level reporting on portfolio status, risks, financial performance, and business outcomes.
  • Influence and align stakeholders around transformation priorities and strategic objectives.
  • Serve as a trusted advisor to leadership on program execution, governance, and delivery strategy.

Innovation & Capability Building
  • Drive adoption of data, analytics, automation, and AI-enabled solutions to enhance program delivery, decision-making, and business outcomes.
  • Develop organizational capabilities in program management and transformation execution.
  • Foster collaboration across teams to create sustainable, enterprise-wide ways of working.

Experience & Qualifications
  • 15+ years of experience leading enterprise PMOs, strategic programs, transformation offices, or large-scale change initiatives.
  • Proven track record delivering complex, enterprise-wide transformation programs with measurable business results.
  • Deep expertise in portfolio management, governance, program delivery, and organizational change.
  • Experience leading teams of program and project management professionals.
  • Strong executive presence with the ability to influence senior leaders and stakeholders.
  • Experience in complex, highly regulated organizations, preferably within financial services.
  • Exceptional communication, stakeholder management, and strategic planning skills.
  • Bachelor's degree required; MBA or advanced degree preferred.

Success Measures
  • Successful delivery of enterprise transformation initiatives and strategic objectives.
  • Establishment of a best-in-class PMO capability and governance framework.
  • Achievement of target business outcomes, benefits realization, and return on investment.
  • Increased transparency, accountability, and execution discipline across the transformation portfolio.
  • Strong stakeholder engagement and adoption of transformation initiatives.

This role is ideal for an experienced PMO executive who combines strategic thinking, operational rigor, and leadership excellence to ensure the Transformation Office delivers meaningful and lasting business impact.
Salary Range:
$171,700 - 300,500 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.

What Northern Trust employees say

Pay

Benefits

Hours and flexibility

Workplace

Get the full story on Breakroom