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Operational RISK Consultant information

What are the 4 operational risks?

Operational risk for an Operational Risk Consultant refers to the potential for loss resulting from inadequate or failed internal processes, people, systems, or external events. The four main types are process risk, people risk, systems risk, and external event risk. Managing these risks involves assessing controls, implementing policies, and using tools like risk dashboards and incident reporting systems.

What does an operational risk consultant do?

An operational risk consultant assesses and manages risks related to a company's internal processes, systems, and controls to prevent losses and ensure compliance. They analyze data, develop risk mitigation strategies, and often use tools like risk management frameworks and software to identify vulnerabilities and improve operational resilience.

Does risk consulting pay well?

Operational Risk Consultants typically earn competitive salaries that vary based on experience, location, and industry. Entry-level positions may start around $60,000 annually, while experienced professionals can earn over $120,000, especially with certifications like FRM or ORM. The role often involves analytical skills, risk assessment tools, and regulatory knowledge, which can influence compensation levels.

What jobs can I get with frm?

With an FRM (Financial Risk Manager) certification, you can pursue roles such as risk analyst, risk manager, credit risk analyst, market risk analyst, or operational risk analyst. These positions typically involve assessing and managing financial risks using quantitative skills and risk management tools, often requiring knowledge of financial regulations and risk modeling software.

How does an Operational Risk Consultant typically collaborate with other departments to identify and mitigate risks?

Operational Risk Consultants work closely with various departments—such as compliance, internal audit, IT, and business units—to identify, assess, and mitigate risks. Collaboration often involves facilitating risk assessments, leading workshops, and providing guidance on best practices for risk controls. Regular meetings and cross-functional projects are common, allowing consultants to gain insights into department-specific processes and emerging risks. This teamwork ensures a holistic approach to managing operational risks across the organization.

What Does an Operational Risk Consultant Do?

As an operational risk consultant, your primary responsibilities are reporting assessments and monitoring the risks of an organization's operations. The types of risk you look for include operational, financial, technological, and compliance related. You work with other departments such as accounting, regulatory affairs, and the internal audit department. You review operating procedures and guidelines, and ensure all actions and services correspond with industry practices/regulations. Your duties include providing an analysis and recommendation of how to adjust forward movement within the company. You also work to anticipate problems before they occur to avoid conflict.

What is the difference between Operational Risk Consultant vs Risk Analyst?

AspectOperational Risk ConsultantRisk Analyst
CertificationsFRM, CRM, or similarFRM, CFA, or similar
Work EnvironmentConsulting firms, financial institutions, corporationsFinancial institutions, investment firms, corporations
Primary FocusIdentifying and managing operational risks, developing risk mitigation strategiesAnalyzing risk data, assessing risk levels, supporting risk management decisions

Operational Risk Consultants focus on identifying, assessing, and mitigating operational risks within organizations, often providing strategic advice. Risk Analysts primarily analyze data to evaluate risk levels and support decision-making. While both roles require similar certifications and work in related environments, their core responsibilities differ: consultants focus on risk management strategies, whereas analysts focus on data analysis and reporting.

What are the key skills and qualifications needed to thrive as an Operational Risk Consultant, and why are they important?

To thrive as an Operational Risk Consultant, you need a solid background in risk management, analytical skills, and a relevant degree such as finance, business, or a related field. Familiarity with risk assessment frameworks, GRC (Governance, Risk & Compliance) software, and certifications like FRM or CRISC is often required. Strong communication, problem-solving abilities, and attention to detail set outstanding consultants apart. These skills are critical for accurately identifying, assessing, and mitigating risks to protect organizational assets and ensure regulatory compliance.
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Operational RISK Consultant jobs near you
Infographic showing various Operational Risk Consultant job openings in the United States as of July 2026, with employment types broken down into 2% Locum Tenens, 87% Full Time, 7% Part Time, and 4% Contract. Highlights an 89% Physical, 3% Hybrid, and 8% Remote job distribution.
Fair and Responsible Banking Risk Consultant

Fair and Responsible Banking Risk Consultant

US Bank

Minneapolis, MN • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 16 days ago

U.S. Bank rating

8.2

Company rating: 8.2 out of 10

Based on 352 frontline employees who took The Breakroom Quiz

39th of 144 rated banks

Job description

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

The Fair and Responsible Banking Risk Consultant will support the Fair and Responsible Banking (FaRB) Program within Corporate Compliance in the second line of defense. This role helps execute the FaRB Program and contributes to the effective governance and oversight of fair lending and UDAP/UDAAP risks. The FaRB Risk Consultant will work cross-functionally to review business practices and customer-facing processes, supporting efforts to assess risk, identify emerging issues, and develop practical guidance that promotes sound risk management. The individual in this role will support program initiatives and activities by using data, reporting, and other information to identify observations and trends and communicate clear, actionable insights. The FaRB Risk Consultant will also work with partners across the organization to promote alignment and support a consistent, scalable approach to managing FaRB risk.

Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Typically more than six years of applicable experience

Preferred Skills/Experience

  • Working knowledge of fair lending and UDAP/UDAAP risks, with the ability to identify and assess risk drivers across consumer products and related processes.

  • Experience supporting fair and responsible banking program activities, such as translation / Limited English Proficiency, program governance, risk assessment, and stakeholder engagement.

  • Ability to interpret regulatory expectations and internal policies, translating them into practical guidance and supporting effective challenge of business practices and controls.

  • Strong analytical and problem-solving skills, including the ability to interpret data, identify trends, and communicate risk insights clearly.

  • Effective communication skills, with experience supporting routine governance activities, preparing materials, and responding to internal and external inquiries.

  • Experience supporting project management activities, including tracking actions, assessing progress, and ensuring timely completion of program objectives.

  • Considerable knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business

  • Considerable understanding of the business line's operations, products/services, systems, and associated risks/controls

  • Thorough knowledge of Risk/Compliance/Audit competencies

  • Strong analytical, process facilitation and project management skills

  • Effective presentation, interpersonal, written and verbal communication skills

  • Effective relationship building and negotiation skills

  • Proficient computer navigation skills using a variety of software packages, including Microsoft Office applications and word processing, spreadsheets, databases, and presentations

  • Applicable professional certifications

LOCATION EXPECTATIONS: This role requires working from a U.S. Bank Location three (3) or more days per week.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to ourdisability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

  • Healthcare (medical, dental, vision)

  • Basic term and optional term life insurance

  • Short-term and long-term disability

  • Pregnancy disability and parental leave

  • 401(k) and employer-funded retirement plan

  • Paid vacation (from two to five weeks depending on salary grade and tenure)

  • Up to 11 paid holiday opportunities

  • Adoption assistance

  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about theE-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $98,175.00 - $115,500.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

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About U.S. Bank

Sourced by ZipRecruiter

U.S. Bank is a reputable and established financial institution that plays a significant role in the banking sector. With a history spanning over 150 years, U.S. Bank has built a strong foundation of trust and reliability. As a comprehensive bank, they offer a wide array of financial products and services to cater to the diverse needs of their customers, including individuals, businesses, and communities. Customer satisfaction is of utmost importance to U.S. Bank. They prioritize delivering exceptional service and fostering long-term relationships with their clients. Through their extensive network of branches and advanced digital banking platforms, U.S. Bank ensures convenient access to their services, empowering customers to manage their finances efficiently and securely.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

Year founded

1863

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