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

William Blair

Risk Analyst

Chicago, IL · Hybrid

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/yr

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

CME Group

Clearing Deliveries & Risk Analyst

Chicago, IL · Hybrid

$27.69 - $46.15/hr

As a Clearing Deliveries & Risk Analyst, you will step into a pivotal role, monitoring the ... What You'll Do * Orchestrate Delivery Operations: Take command of daily delivery processes ...

CME Group

Clearing Deliveries & Risk Analyst

Chicago, IL · On-site

$27.69 - $46.15/hr

As a Clearing Deliveries & Risk Analyst, you will step into a pivotal role, monitoring the ... What You'll Do * Orchestrate Delivery Operations: Take command of daily delivery processes ...

Chubb

Vendor Risk Analyst

Chicago, IL · On-site +1

The Vendor Risk Management Analyst will be responsible for assessing, monitoring, and mitigating ... This role plays a critical part in safeguarding the organization's operations, data, and reputation ...

Bmo

Payment Risk Oversight - Manager

Chicago, IL · Hybrid

$102K - $190K/yr

Monitor and analyze operational risk events and losses across enterprise payments functions and products, identifying root causes, trends, and emerging risk themes. * Assess risks associated with ...

City of Chicago

CHIEF PERFORMANCE ANALYST

Chicago, IL · On-site

$106K/yr

... operations in city departments and making recommendations to improve their effectiveness; and performs related duties as required ESSENTIAL DUTIES • Leads internal audits and reviews to monitor and ...

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Operational Risk Analyst information

See Chicago, IL salary details

$40.2K

$88.4K

$159.7K

How much do operational risk analyst jobs pay per year?

As of Jun 19, 2026, the average yearly pay for operational risk analyst in Chicago, IL is $88,427.00, according to ZipRecruiter salary data. Most workers in this role earn between $67,500.00 and $107,600.00 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 Chicago, IL? The most popular types of Operational Risk Analyst jobs in Chicago, IL are:
What are popular job titles related to Operational Risk Analyst jobs in Chicago, IL? For Operational Risk Analyst jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Operational Risk Analyst jobs in Chicago, IL look for? The top searched job categories for Operational Risk Analyst jobs in Chicago, IL are:
Operational Risk Analyst jobs near you
Onboarding & Risk Analyst - Currency Management

Onboarding & Risk Analyst - Currency Management

Mesirow Financial

Chicago, IL

$80K - $120K/yr

Full-time

Posted 14 days ago

Job description

The Opportunity:

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices across the country, Mesirow serves clients through capabilities spanning Private Capital & Currency, Capital Markets and Investment Banking, and Advisory Services. 

We are seeking an Onboarding & Risk Analyst in Mesirow’s Currency Management business responsible for client and account onboarding while ensuring robust risk management, regulatory compliance, and operational readiness across investment portfolios. This role partners across teams to establish trading infrastructure, oversee risk exposure, and maintain strong controls.

Responsibilities:

  • Risk Assessment & Oversight: Identify and monitor market, credit, and liquidity risks; ensure portfolios remain within limits, mandates, and risk appetite.
  • Operational Risk & Controls: Implement controls to mitigate operational risks, ensure data integrity, and audit readiness.
  • Documentation & Agreements: Manage negotiation and execution of legal agreements (ISDA, CSA, clearing agreements).
  • Counterparty Coordination: Liaise with brokers, custodians, and counterparties to establish accounts, connectivity, and trading readiness.
  • Regulatory Compliance: Oversee onboarding and ongoing compliance with regulations such as Dodd-Frank and EMIR, including reporting and margin requirements.
  • Operational Readiness: Coordinate with Legal, Compliance, Operations, Portfolio Management, and Trading to onboard accounts, test workflows, and ensure systems are ready for trading.

Requirements:

  • Bachelor’s degree required in relevant discipline
  • Self-starter challenged by ability to take on new initiatives and work independently.
  • Focused and organized with superior problem-solving skills, strong attention to detail is critical in this role
  • Proactively seek out process improvement opportunities and efficiencies
  • Advanced Excel skills. Ability to program in SQL and/or Python is desired.
  • Proficiency with mathematics, and familiarity with financial calculations
  • Must be able to handle multiple priorities effectively and with a high degree of accuracy and independence
  • Strong organizational, verbal, and written communication skills, with a proactive approach to problem-solving and collaboration
  • Experience working with global custodian banks
  • 3-5 years of experience in derivatives operations and collateral management, with a solid understanding of trade processing, settlement, and regulatory requirement in investment operations, risk management, or onboarding within asset management or financial services

In accordance with the Illinois Transparency Law the anticipated hiring base salary for the role will be between $80,000 and $120,000 per year. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, also provides the opportunity for a commission and discretionary performance bonus and the Mesirow benefit program.

EOE

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