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

Chubb

Director, Enterprise Risk Management

Chicago, IL

$98K - $167K/yr

This position requires significant involvement with analysis and reporting of risks and key controls to mitigate operational risks to the organization. The Director, Risk Management will assume a ...

Smarkets

Chief Risk Officer

Chicago, IL · On-site

... operational resilience requirements. * Strong background identifying and analysing technology risk, counterparty exposures, and internal control weaknesses, and translating them into a defensible ...

Addison Group

Risk Management Specialist

Chicago, IL · On-site

$50 - $60/hr

Background as a Compliance Analyst, Risk Analyst, Legal Operations professional, or Paralegal preferred. * Experience managing projects and driving process improvements. * Strong analytical ...

Adyen

Credit Risk Officer

Chicago, IL

Credit Risk Officer - Financial Products As a Credit Risk Analyst based in Chicago, you will be ... operation of credit risk frameworks for new and evolving financial products (e.g. Adyen Capital)

Adyen

Credit Risk Officer

Chicago, IL · On-site

Credit Risk Officer - Financial Products As a Credit Risk Analyst based in Chicago, you will be ... operation of credit risk frameworks for new and evolving financial products (e.g. Adyen Capital)

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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 Jun 23, 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
Senior Risk Management & Insurance Analyst

Senior Risk Management & Insurance Analyst

Rotary International

Evanston, IL • Hybrid

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 17 days ago

Job description

Job Title: Senior Risk Management amp; Insurance Analyst
Area: Risk Management
Reports to: Risk Management Manager
Classification: ​Exempt
Location: Evanston, IL
This position is designated as Hybrid - Fully Flexible and expected to work from our world headquarters office once per month to several times a week. The specific days in the office are determined by managers based on business requirements. Rotary is under the jurisdiction of Illinois employment laws; we require all employees to live within reasonable daily commuting distance to Evanston.
Organization Overview
Rotary is a membership organization that unites people from all continents and cultures who take action to deliver real, long-term solutions to pressing issues facing our communities and the world. Each year, Rotary members expand their networks, build lasting relationships, and invest more than $300 million and 16 million volunteer hours to improve lives and create positive change in the world. In exchange for hard work and dedication in support of Rotary’s clubs, members and other participants, and their humanitarian service projects, our employees receive competitive salaries, flexible schedules, comprehensive benefits, and job enrichment. To learn more, visit http://www.rotary.org.
Rotary’s Commitment to Belonging
At Rotary, we foster a welcoming environment where all employees are valued and empowered. We are dedicated to creating meaningful opportunities and supporting the growth and well-being of our team. Join us in building a world where everyone can unite, take action, and create lasting change.
Position Overview
This position supports the Risk Management team, responsible for assisting in organizational insurance placement, risk and enterprise risk management activities, and managing insurance program for U.S. Rotary-related entities at Rotary International. You will be part of the Risk Management team that includes risk management, insurance, business resiliency and claims professionals. You will have the opportunity to support U.S. clubs and Rotary members in insurance matters, work on placement of various insurance policies for Rotary while interacting with diverse and talented Rotary staff. Your contribution will help ensure the organization understands and considers its insurable and non-insurable risks as it works to achieve its strategic goals.
You Will Have
  • Bachelor’s degree (preferably in Insurance, Risk Management, Business Administration, or similar)
  • Minimum 5 years of experience in Insurance / Risk Management (in organizational setting or commercial brokerage operations)
  • Certification/designation in ARM, CIC or CPCU a plus
  • 3 years of experience with commercial general liability insurance coverages
  • Experience with loss control, risk mitigation strategies, analyzing and monitoring operational risks in the organization
  • Proficiency in or willingness to learn various collaboration tools (e.g., Microsoft tools, Microsoft Teams, Stream, Loop, etc.) to enhance communications and collaboration
  • Excellent customer service skills
  • Strong written and verbal skills, and the ability to effectively communicate insurance and risk management concepts with different audiences
  • Demonstrated strong analytical and problem solving skills
You Are Good At
  • Written and oral communication
  • Public speaking
  • Showing attention to detail
  • Self-motivating and managing multiple projects and tasks
You Will Be Responsible For
U.S. Liability Insurance Program – Communications with Insureds
Developing risk management and insurance communication vehicles for the U.S. Club Insurance Program. This includes:
  • managing liability insurance program’s daily communications with insureds
  • developing and coordinating mass e-mailings and other communication vehicles to increase awareness and understanding of available insurance coverages and mitigation strategies
  • developing and maintaining risk management and insurance content for insureds (webinars, loss control guidelines, surveys and other)
  • main contact for Club Insurance Program’s broker service team
Insurance Placements
  • Assisting Insurance amp; Claims Manager with gathering and preparing exposure data for reporting to insurance broker and underwriters for all insurance programs,
  • Assisting in the development of insurance coverage requirements, coverage placements, coverage analysis and underwriting programs for all insurance programs.
  • Assisting with review of insurance policies
Enterprise Risk Management
  • Assisting with gathering information on key organizational risks and work with subject matter experts on documenting mitigation activities
  • Developing new vehicles to collect organizational risk information (surveys, risk assessments, etc.)
  • Developing and implementing risk management strategies and policies
  • Assist with Rotary’s large meetings’ risk assessments
Travel Insurance Program
Managing the day-to-day responsibilities of the travel insurance program , which include:
  • communications with insureds and broker,
  • maintain and update resources and share with insureds
  • analyze exposures (claims, questions, trends)
  • maintain program documents and files
  • work with service providers and insurer to ensure proper handling of the cases and claims
  • work with other departments on travel risk management issues and questions
Special Projects
  • Undertake special projects relating to various risk management and insurance issues.
  • Assist in maintaining departmental databases and other structured formats
Travel
May travel on Rotary business (up to 3 business trips per year, including international travel)
Leadership Attributes
  • Communication: Be open to receiving ideas from diverse viewpoints and able to communicate messages so that they are universally understood.
  • Collaboration: Builds partnerships and works jointly with others to meet shared objectives.
  • Productivity: Able to generate results that moves Rotary toward achieving its goals.
  • Accountability: Have a clear sense of ownership and take personal responsibility for actions.
  • Adaptability: Respond to changes willingly and recognize when to adjust based on the situation.
Salary Range
  • $99,900 - $111,000
Why Work for Rotary?
  • Generous medical, dental, and vision benefits package
  • Progressive 401k matching contributions
  • Above market and generous paid time off package
  • Tuition reimbursement
  • Professional development opportunities
  • On-site cafeteria and coffee bar with special pricing for Rotary employees
  • Flextime-several different work schedules to choose from
  • Close to CTA, Metra, a variety of stores, and many food options
Please note:
  • Rotary does not provide VISA sponsorship or relocation assistance

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