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Operational Risk Associate Jobs in Illinois (NOW HIRING)

Capital One

Senior Auditor - Risk Management

Riverwoods, IL

$84K - $103K/yr

... Operational Risk Management At this time, Capital One will not sponsor a new applicant for employment authorization for this position. This role is hybrid meaning associates typically spend 3 days ...

Capital One

Senior Auditor - Risk Management

Riverwoods, IL

$84K - $103K/yr

... Operational Risk Management At this time, Capital One will not sponsor a new applicant for employment authorization for this position. This role is hybrid meaning associates typically spend 3 days ...

Capital One

Senior Auditor - Risk Management

Chicago, IL

$83K - $102K/yr

... Operational Risk Management At this time, Capital One will not sponsor a new applicant for employment authorization for this position. This role is hybrid meaning associates typically spend 3 days ...

Capital One

Senior Auditor - Risk Management

Chicago, IL

$83K - $102K/yr

... Operational Risk Management At this time, Capital One will not sponsor a new applicant for employment authorization for this position. This role is hybrid meaning associates typically spend 3 days ...

Addison Group

Risk & Compliance Associate

Chicago, IL · On-site

$50 - $60/hr

This opportunity offers exposure to global operations, enterprise risk management initiatives, and ... The Risk & Compliance Associate will support the organization's global compliance, ethics, and ...

Pop-Up Talent

Associate Attorney

Chicago, IL · On-site

$125K - $200K/yr

Associate Attorney Chicago, IL * Employment Type: Full-Time, Salaried * Reports To: Executive ... Advise operations and leadership on contractual risk, scope disputes, and project documentation ...

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All JobsOperational Risk Associate JobsOperational Risk Associate Jobs in Illinois

Operational Risk Associate information

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How much do operational risk associate jobs pay per hour?

As of Jul 21, 2026, the average hourly pay for operational risk associate in Illinois is $25.43, according to ZipRecruiter salary data. Most workers in this role earn between $17.26 and $29.33 per hour, depending on experience, location, and employer.

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

To thrive as an Operational Risk Associate, you need strong analytical skills, knowledge of risk management frameworks, and a background in finance, business, or a related field. Familiarity with risk assessment tools, regulatory compliance systems, and certifications such as FRM or CRISC is often required. Attention to detail, problem-solving ability, and effective communication are vital soft skills for identifying risks and collaborating with teams. These skills ensure accurate risk identification, regulatory compliance, and the development of strategies to mitigate operational losses.

What are the typical challenges an Operational Risk Associate faces when working with cross-functional teams?

Operational Risk Associates often collaborate with departments such as compliance, audit, IT, and business operations to identify and mitigate potential risks. One common challenge is ensuring clear communication and alignment across teams with different priorities and risk tolerances. Additionally, navigating data inconsistencies and varying risk awareness levels can make it difficult to implement standardized controls. Building strong relationships and maintaining open channels for feedback help address these challenges and foster a proactive risk culture.

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

AspectOperational Risk AssociateCredit Risk Analyst
Required CredentialsBachelor's degree, certifications like FRM or ORMBachelor's degree, certifications like CFA or FRM
Work EnvironmentFinancial institutions, risk management teamsBanking, lending institutions, credit departments
Employer & Industry UsageUsed in risk management departments across finance sectorsCommon in banking and lending sectors for credit assessment
Comparison Search IntentUnderstanding risk management roles in operationsAssessing credit risk and loan viability

The Operational Risk Associate focuses on identifying and mitigating risks related to operational processes within financial institutions, while the Credit Risk Analyst specializes in evaluating the creditworthiness of borrowers. Both roles require similar certifications and work in risk-related departments, but their core responsibilities differ—one manages operational risks, the other assesses credit risks.

What does an Operational Risk Associate do?

An Operational Risk Associate is responsible for identifying, assessing, and helping to mitigate risks that could impact a company's day-to-day operations. They work to ensure that processes, systems, and controls are in place to minimize the likelihood and impact of operational failures, such as fraud, system breakdowns, or regulatory breaches. Their duties often include risk assessments, incident reporting, data analysis, and supporting the implementation of risk management policies and procedures. Operational Risk Associates frequently collaborate with other departments to raise awareness and promote a strong risk culture within the organization.
What are the most commonly searched types of Operational Risk jobs in Illinois? The most popular types of Operational Risk jobs in Illinois are:
What cities in Illinois are hiring for Operational Risk Associate jobs? Cities in Illinois with the most Operational Risk Associate job openings:
Operational Risk Associate jobs near you
Compliance and Ops Risk Test Lead - Senior Associate

Compliance and Ops Risk Test Lead - Senior Associate

JPMorgan Chase & Co.

Chicago, IL • On-site

$79K - $118K/yr

Full-time

Medical, Retirement

Posted 22 days ago

JPMorgan Chase & Co. rating

8.0

Company rating: 8.0 out of 10

Based on 491 frontline employees who took The Breakroom Quiz

58th of 149 rated banks

Job description


Join our dynamic team to navigate complex risk landscapes and fortify technology governance, making a pivotal impact in our firm's robust risk strategy.
As a Compliance and Operations Risk Test Lead in the Testing Center of Excellence, you will play a pivotal role in enhancing our compliance and operational risk management. Your expertise in test execution will be crucial in managing and conducting precise and accountable tests, ensuring alignment with the firm's highest risks. Your analytical thinking and problem-solving skills will be key in identifying control coverage gaps and driving remediation of control issues. You will also be responsible for planning and organizing your own work, and potentially that of a team, while liaising and coordinating activities across various departments. Your role will be integral in ensuring a cohesive and efficient testing framework, contributing to the seamless delivery of quality outcomes.
Job responsibilities
  • Conduct comprehensive testing processes, ensuring all activities are completed accurately and on time, while adhering to the firm's highest risk priorities.
  • Utilize advanced analytical thinking to identify control coverage gaps and verify that controls are properly designed and implemented.
  • Apply problem-solving skills to address complex situations, develop alternate solutions, and interpret policies to ensure compliance with technical standards.
  • Collaborate with cross-functional teams to align testing efforts and maintain open communication with stakeholders, ensuring effective execution of tasks.
  • Continuously improve control evaluation methods and interpret control ratings and metrics to enhance the firm's compliance and operational risk management.

Required qualifications, capabilities, and skills
  • 3+ years of experience in executing and managing testing processes within a professional or specialized field.
  • Demonstrated proficiency in analytical thinking, with a track record of systematically organizing, comparing, and evaluating various aspects of a situation to identify key information.
  • Proven ability to perform assessments of the control environment, identifying control coverage gaps and verifying the proper design and implementation of controls.
  • Experience in coordinating activities across multiple departments, with the ability to adapt to changing priorities and manage a team if required.
  • Proficiency in utilizing Project Management methodologies, tools, and techniques to lead and manage aspects of the project management lifecycle.

About Us
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About the Team
Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.
Control Management maintains a strong and consistent control environment through a joint accountability model that aligns managers with each function and region to mitigate operational risk. The team focuses on four areas: Control Design & Expertise, Risks & Controls Identification/Assessment, Issues & Control Deficiencies and Control Governance & Reporting.

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