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Operational Risk Analyst Jobs in Indiana (NOW HIRING)

Risk Advisory Senior Manager

Bedford, IN · On-site +1

$119K - $215K/yr

Experience across multiple internal audit domains (ICFR, regulatory compliance, operational risk, IT controls) * Experience in technology-enabled audit or data analytics solutions * Industry ...

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As a Lead Analyst, Product Compliance supporting Circle's Payments product pillar, you will play a ... Experience assessing compliance and operational risk in payment networks, managed payments products ...

As a Lead Analyst, Product Compliance supporting Circle's Payments product pillar, you will play a ... Experience assessing compliance and operational risk in payment networks, managed payments products ...

As a Lead Analyst, Product Compliance supporting Circle's Payments product pillar, you will play a ... Experience assessing compliance and operational risk in payment networks, managed payments products ...

As a Lead Analyst, Product Compliance supporting Circle's Payments product pillar, you will play a ... Experience assessing compliance and operational risk in payment networks, managed payments products ...

As a Lead Analyst, Product Compliance supporting Circle's Payments product pillar, you will play a ... Experience assessing compliance and operational risk in payment networks, managed payments products ...

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Operational Risk Analyst information

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$37.1K

$81.7K

$147.5K

How much do operational risk analyst jobs pay per year?

As of Jun 19, 2026, the average yearly pay for operational risk analyst in Indiana is $81,682.00, according to ZipRecruiter salary data. Most workers in this role earn between $62,300.00 and $99,400.00 per year, depending on experience, location, and employer.

What are some common challenges faced by Operational Risk Analysts, and how can these be effectively managed?

Operational Risk Analysts often face challenges such as identifying emerging risks, effectively communicating findings to stakeholders, and ensuring compliance with evolving regulations. Managing these challenges involves staying up-to-date with industry best practices, developing strong analytical and communication skills, and collaborating closely with other departments like compliance, IT, and internal audit. Building robust risk assessment frameworks and fostering a culture of transparency within the organization are also key to success in this role.

What does an operational risk analyst do?

An operational risk analyst assesses and monitors risks arising from internal processes, systems, people, or external events that could disrupt business operations. They analyze data, develop risk mitigation strategies, and use tools like risk management software to ensure organizational resilience and compliance. Strong analytical skills and knowledge of industry regulations are essential for this role.

What are the 4 pillars of operational risk management?

The four pillars of operational risk management are risk identification, risk assessment, risk mitigation, and risk monitoring. Operational risk analysts focus on these areas to develop strategies that minimize potential losses from internal processes, people, systems, or external events. Mastery of these pillars is essential for effective risk management in organizations.

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

To thrive as an Operational Risk Analyst, you need a solid background in risk management, data analysis, and business processes, typically supported by a degree in finance, business, or a related field. Familiarity with risk assessment tools, governance frameworks, and systems like GRC (Governance, Risk, and Compliance) platforms or Excel is commonly required, and certifications such as FRM or CRM are advantageous. Strong analytical thinking, attention to detail, and effective communication skills help you identify risks and collaborate with stakeholders across the organization. These skills ensure accurate risk identification and mitigation, safeguarding the organization's assets and reputation.

How much do operational risk analysts make?

Operational risk analysts typically earn a median annual salary of around $70,000 to $100,000, depending on experience, location, and industry. Entry-level positions may start lower, while experienced analysts with certifications like FRM or ORM can earn higher salaries and bonuses. The role often requires strong analytical skills and knowledge of risk management tools.

What is a risk operations analyst?

A risk operations analyst is a professional responsible for identifying, assessing, and monitoring operational risks within an organization. They analyze data, develop risk mitigation strategies, and often use tools like risk management software to ensure business processes are compliant and secure.

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

AspectOperational Risk AnalystCredit Risk Analyst
Required CredentialsBachelor's degree in finance, risk management, or related field; certifications like FRM or CRMBachelor's degree in finance, economics, or related; certifications like CFA or FRM
Work EnvironmentFinancial institutions, banks, insurance companies; focus on internal processesBanking, lending institutions; focus on borrower creditworthiness
Employer & Industry UsageUsed across banking, insurance, and investment firms for risk mitigationPrimarily in banking and lending sectors for credit assessment
Common Search & Comparison IntentUnderstanding risk management roles within financial firmsAssessing credit risk and loan approval processes

Operational Risk Analysts focus on internal processes and operational hazards within financial institutions, while Credit Risk Analysts evaluate the creditworthiness of borrowers. Both roles require similar credentials and are vital in risk management but serve different aspects of financial risk assessment.

What are the most commonly searched types of Operational Risk Analyst jobs in Indiana? The most popular types of Operational Risk Analyst jobs in Indiana are:
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What job categories do people searching Operational Risk Analyst jobs in Indiana look for? The top searched job categories for Operational Risk Analyst jobs in Indiana are:
What are popular job titles related to Operational Risk Analyst jobs in IN? For Operational Risk Analyst jobs in IN, the most frequently searched job titles are:
Infographic showing various Operational Risk Analyst job openings in Indiana as of June 2026, with employment types broken down into 87% Full Time, and 13% Contract. Highlights an 74% In-person, 13% Hybrid, and 13% Remote job distribution, with an average salary of $81,682 per year, or $39.3 per hour.
Senior Risk Adjustment Analyst

Senior Risk Adjustment Analyst

Elevance Health

Indianapolis, IN • Hybrid

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 8 days ago


Elevance Health rating

7.8

Company rating: 7.8 out of 10

Based on 334 frontline employees who took The Breakroom Quiz

165th of 261 rated insurance


Job description

Anticipated End Date:

2026-06-19

Position Title:

Senior Risk Adjustment Analyst

Job Description:

Location: Norfolk VA, Mason OH, Indianapolis IN, Louisville KY, Grand Prairie TX, Tampa FL, Atlanta GA

Hours: Standard Working hours

Travel: This role requires associates to be in-office 1 - 2 days per week, fostering collaboration and connectivity, while providing flexibility to support productivity and work-life balance. This approach combines structured office engagement with the autonomy of virtual work, promoting a dynamic and adaptable workplace. Alternate locations may be considered if candidates reside within a commuting distance from an office. Please note that per our policy on hybrid/virtual work, candidates not within a reasonable commuting distance from the posting location(s) will not be considered for employment, unless accommodation is granted as required by law.


Position Overview:

The Senior Risk Adjustment Analyst is a high-impact individual contributor on Elevance's Medicare Advantage Risk Adjustment team, reporting directly to the Staff VP of Analytics/Decision Support. This role is responsible for conducting advanced data analysis, building and maintaining HCC performance reporting, supporting predictive modeling initiatives and monitoring vendor performance. The Sr. Analyst serves as a key analytical resource, translating complex data into actionable insights for both clinical and operational stakeholders.

How You Will Make an Impact:

  • Design, develop, and maintain risk adjustment performance dashboards and reports using Power BI, Tableau, or equivalent tools to monitor KPIs

  • Write and optimize complex SQL queries to extract, transform, and analyze large datasets from data warehouses and payer/provider data systems

  • Support the development and validation of predictive models for HCC suspecting, risk score forecasting, and provider performance stratification

  • Prepare and present analytical findings, trend analyses, and performance summaries to key internal stakeholders

  • Mentor junior analysts and coordinators, providing guidance on analytical methods, data interpretation, and risk adjustment concepts

  • Support cross-functional initiatives in quality, population health, provider engagement and finance as they relate to risk adjustment analytics

  • Maintains active relationships with customers to determine business requirements, leads requirement meetings

  • Proactively addresses customer issues, prepares alternatives and implements solutions

  • Collaborates with engineers for creative ideas for supporting interactive content, analyzes and classifies complex change request and reviews and evaluates possible enhancements

  • Identifies and manages risks and develops contingency plans

  • Partners with business, architecture and infrastructure and oversees all service levels

  • Develops and defines application scope and objectives, including impact to interfaces

  • Analyzes and evaluates detailed business and technical requirements

  • Mentors others on coding standards and performs code reviews

  • Supervises others on developing application internals for usability, reliability and scalability requirements

  • Ensures system testing is completed and meets the test plan requirements

  • Coordinates integration activities with other IT to ensure successful implementation and support of project efforts

  • Assesses current status and supports BI planning efforts

  • Mentors and assists in training initiatives and performs estimates for costs and impacts

  • Manages small to medium projects, potentially leading global projects

  • Mentors and provides training, conducts vendor evaluations and manages pilots for Business Intelligence tool upgrades

Required Qualifications:

  • Requires an BA/BS degree in Information Technology, Computer Science or related field of study and minimum of 5 years experience with multi platform, two or more BI applications and/or multiple Business Intelligence tools required; or any combination of education and experience, which would provide an equivalent background.

Preferred Qualifications:

  • Medicare Advantage or commercial Risk adjustment data analysis experience is a must have

  • SQL experience strongly preferred

  • Intermediate Excel experience preferred

  • Power BI experience is nice to have

Job Level:

Non-Management Exempt

Workshift:

1st Shift (United States of America)

Job Family:

IFT > Engineering/Dev

Please be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health.


Who We Are

Elevance Health is a health company dedicated to improving lives and communities - and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.


How We Work

At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.


We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.


Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process.


The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.


Elevance Health is an Equal Employment Opportunity employer, and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process should submit the following form: Accessibility Accommodation Request Form and a member of the team will be in contact. Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.


Prospective employees required to be screened under Florida law should review the education and awareness resources at HB531 | Florida Agency for Health Care Administration.


NOTE: Workday keeps job postings active through 11:59:59 PM on the day before the listed end date. Example: If the end date is 3/13, the posting will automatically come down on 3/12 at 11:59:59 PM. In other words - the job is posted until 3/13, not through 3/13.


What Elevance Health employees say

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About Elevance Health

Sourced by ZipRecruiter

Elevance Health is a health company dedicated to improving lives and communities - and making healthcare simpler. A Fortune 20 company with a longstanding history in the healthcare industry, we are looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve. You will thrive in a complex and collaborative environment where you take action and ownership to solve problems and lead change. Do you want to be part of a larger purpose and an evolving, high-performance culture that empowers you to make an impact?

Industry

Health care and social assistance

Company size

10,000+ Employees

Headquarters location

Indianapolis, IN, US

Year founded

2004

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