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

Wedbush Securities

Analyst, Risk Monitoring

Chicago, IL · On-site

$68K - $89K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Our Chicago office is hiring an experienced Supervisor, Risk Monitoring Analyst to join our Risk ... Escalate risk or operational concerns to the Head of Risk and leadership * Coordinate team ...

Wedbush

Analyst, Risk Monitoring

Chicago, IL

$68K - $89K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Our Chicago office is hiring an experienced Supervisor, Risk Monitoring Analyst to join our Risk ... The primary function of this role is to lead after-hours trading operations with a focus on client ...

Bank of Montreal

Manager, Fraud Risk Oversight

Chicago, IL · On-site

  • Medical

  • Life

  • Retirement

Develops and monitors the operational management framework that includes the governance framework ... Conducts independent analysis and assessment to resolve strategic issues. * Leads the development ...

IMC

Experienced Risk Manager

Chicago, IL · On-site

Monitor and analyze market, credit, capital, and operational risks across IMC's portfolios * Develop and enhance risk methodologies for products including equities, ETFs, futures, and other exchange ...

Orion

Senior Privacy & AI Risk Analyst

Mundelein, IL · Hybrid

  • Medical

  • Dental

  • Vision

  • Retirement

As a Senior Privacy & AI Risk Analyst, you will be expected to spearhead privacy initiatives and ... Has knowledge of the investment advisor industry, operations, and regulatory landscape * Has ...

3M HEALTHCARE

Senior Financial Risk Analyst

Chicago, IL · On-site

$111 - $130/hr

  • Medical

  • Life

  • Retirement

  • PTO

... risk models, forecasting key balance sheet items and providing deep dive analysis into financial ... You are the perfect mix of analytical, technical, operational, and creative. You are a clear ...

Danaher

Senior Cybersecurity Risk Analyst - USA Remote

Chicago, IL · Remote

$130K - $160K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

The Senior Cybersecurity Risk Analyst is responsible for executing third-party and supplier risk ... Contribute to enterprise risk register operations and data quality, including consistent risk ...

IMC

Experienced Risk Manager

Chicago, IL · On-site

$150K - $210K/yr

  • PTO

Monitor and analyze market, credit, capital, and operational risks across IMC's portfolios * Develop and enhance risk methodologies for products including equities, ETFs, futures, and other exchange ...

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Showing results 21-40

All JobsOperational Risk Analyst JobsOperational Risk Analyst Jobs in Chicago, IL

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 Aug 20, 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 does an operational risk analyst do?

An Operational Risk Analyst is responsible for identifying, assessing, and mitigating risks that could impact a company's day-to-day business operations. They analyze processes, policies, and systems to detect potential operational failures or weaknesses. Their role often includes developing risk management strategies, monitoring risk indicators, and helping to ensure compliance with regulatory standards. They also work closely with other departments to implement best practices and improve overall risk awareness.

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.

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 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
Infographic showing various Operational Risk Analyst job openings in Chicago, IL as of August 2026, with employment types broken down into 88% Full Time, 11% Part Time, and 1% Contract. Highlights an 94% Physical, 2% Hybrid, and 4% Remote job distribution, with an average salary of $88,427 per year, or $42.5 per hour.

Associate Principal, Operational Risk Management and Controls

The Options Clearing Corporation

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 17 days ago

Job description

To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.
What You'll Do:
This role will provide critical support to the Director of Operational Risk to evaluate IT and Security risks by assisting with risk assessments and applying aspects of the risk management framework across the process, risk, and control universe. Additionally, this role will help with the risk assessment program activities, coordinate with other functions (e.g. IT, Security, TPRM, Legal, Compliance, and Internal Audit) and facilitate appropriate ORM governance to ensure alignment to OCC strategy and short-term objectives.
The Operational Risk Management (ORM) department identifies, measures, monitors, and reports risks and exposures across the organization through the Risk Management Framework, and specifically through several risk programs, including but not limited to: Enterprise Risk Assessments (ERA) , Risk Event Analysis, Scenario Analysis, Key Risk Indicators, and Risk Reporting. The ORM team is a dedicated group of professionals focused on developing and executing second line of defense oversight responsibilities for OCC.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
  • Collaborate with IT, Security, TPRM, Legal, Compliance, and Internal Audit to ensure that ORM contributes to strengthening the overall effective management of IT and Security risk across the organization.
  • Lead the OCC's risk identification and assessment process (Risk Intake) for IT, Security and business risks, and verify the consistency and reliability of the associated frameworks and systems.
  • Drive adherence to methodologies, guidance, and standards applicable to risk identification and assessment frameworks.
  • Maintain risk inventories, taxonomies, and other elements supporting IT & Security risk management and compliance activities
  • Lead and execute the IT and Security risk assessment process, while aligning to the risk and control universe, and regulatory requirements and expectations.
  • Ensure issues are properly reported to business areas and remediated appropriately to reduce outstanding risk or performance breakdowns
  • Generate reports of Archer data for various stakeholders, including regulators.
  • Help automate IT & Security risk oversight.
  • Communicate results of risk assessments to governance committees, business owners, and various levels of leadership.
  • Collaborate on the enhancement and maintenance of ORM program methodologies, policies, procedures, and job aides, including the development of new program activities.
  • Track and update ORM team internal findings, external exam issues, and business area self-identified issues resulting from Enterprise Risk Assessment.

Supervisory Responsibilities
None
Are the essental duties of this job required to be performed in an OCC office location? Yes - Chicago office 3 days/week
Qualifications:
The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.
  • [Required] Advanced understanding of IT risk, Security risk, and intermediate understanding of Operational risk
  • [Required] Ability to act as a trusted advisor and provide effective challenge
  • [Required] Creative, independent thinker, with a willingness to develop and drive new ideas
  • [Required] Excellent written, verbal and presentation skills
  • [Required] Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts
  • [Required] Ability to work under pressure and with tight deadlines
  • [Preferred] Familiarity with Financial Market Utilities; securities and derivatives markets
  • [Preferred] Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve; Familiarity with the Covered Clearing Agency regulations

Technical Skills & Background
  • [Required] Proficient in Microsoft Word, Excel, Access, and PowerPoint
  • [Required] Experience with eGRC systems (e.g., Archer)

Education & Training
  • [Required] Bachelor's Degree in Finance, Business, Information Systems, Computer Science (or equivalent) preferred
  • [Required] 3+ years of experience in enterprise risk, technology risk, security risk, or risk consultancy, specifically with focus on assessing IT and Security risk
  • [Preferred] Consulting experience

Certificates or Licenses:
  • [Preferred] Certification such as: CPA, CISSP, Security+, CSX-P, CET, CISA or CISM

About Us
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
Benefits
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:
  • A hybrid work environment, up to 2 days per week of remote work
  • Tuition Reimbursement to support your continued education
  • Student Loan Repayment Assistance
  • Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
  • Generous PTO and Parental leave
  • 401k Employer Match
  • Competitive health benefits including medical, dental and vision

Visit https://www.theocc.com/careers/thriving-together for more information.
Compensation
  • The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
  • In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
  • We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
  • All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Salary Range
$98,100.00 - $142,000.00
Incentive Range
8% to 15%
This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.
Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
Step 2
You will receive an email notification to confirm that we've received your application.
Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
For more information about OCC, please click here.
OCC is an Equal Opportunity Employer

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