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Operational Risk Associate Jobs in New York (NOW HIRING)

DTCC

Market Risk Senior Associate

Jersey City, NJ · On-site

Collaborate with cross functional teams including Counterparty Credit Risk, Liquidity Risk, Operations, Quantitative Risk, Relationship Management to bolster risk management practices. * Educate ...

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Operational Risk Associate information

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How much do operational risk associate jobs pay per hour?

As of Jun 29, 2026, the average hourly pay for operational risk associate in New York is $28.71, according to ZipRecruiter salary data. Most workers in this role earn between $19.47 and $33.12 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.
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Operational Risk Associate jobs near you
Infographic showing various Operational Risk Associate job openings in New York as of June 2026, with employment types broken down into 1% As Needed, 71% Full Time, 26% Part Time, and 2% Contract. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution, with an average salary of $59,722 per year, or $28.7 per hour.

Operational Risk Management Department - Business Management Associate/AVP

Bank of China Limited, New York Branch

Manhattan, NY • On-site

$42K - $150K/yr

Full-time

Posted 28 days ago

Key responsibilities

  • Assist in planning, managing, and monitoring the departmental annual expense budget, including expense tracking and variance analysis.

  • Manage and support people management processes such as onboarding, offboarding, attendance checks, consultant lifecycle management, and staffing reports.

  • Conduct training needs assessments, submit and monitor execution of the annual training plan, and ensure completion and documentation of mandatory training programs.

Job description

Introduction
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview
The incumbent will support the efficient and effective operations of the Operational Risk Management Department.
Responsibilities
Including but not limited to:
Expense Budget Management:
  • Assist in the planning and management of the departmental annual expense budget, including categories such as consulting fees, consultant fees, legal expenses, training costs, IT fixed assets expenses, department activity fee and etc.
  • Ensure accurate budget forecasting, meticulous expense tracking, and thorough variance analysis.
  • Oversee the budget execution status, diligently monitoring allocations and expenditures to maintain strict financial discipline.
  • Facilitate procurement processes by reviewing purchasing requests and ensuring strict adherence to established budget constraints.
  • Centralize the processing of invoice payment requests, ensuring timely and accurate submissions.

People Management Support:
  • Manage the New Hire/Termination Checklist updates, ensuring seamless and compliant onboarding and offboarding processes for department personnel.
  • Conduct monthly attendance checks, meticulously tracking and verifying staff attendance for compliance and reporting purposes.
  • Maintain the departmental organizational chart, conduct insightful staffing analysis, and coordinate the annual skill assessment process.
  • Manage the end-to-end consultant lifecycle, including Consultant New Hire Application approval requests, timesheet approvals, invoice payments, and Consultant Performance Evaluation Reports.
  • Coordinate Consultant contract renewals and provide comprehensive support for consultant onboarding and offboarding procedures.
  • Manage other relevant consultant-related paperwork, such as open requests, interview reports, and Statements of Work (SOWs).
  • Prepare departmental staffing reports, providing insights into team composition and resource allocation.

Training Management:
  • Conduct training needs assessments, at multiple levels of analyses, including but not limited to: the department level for its professional areas and the individual employee level to support its talent development;
  • Submit, implement, and monitor execution of the annual training plan;
  • Ensure the annual training plan covers legally required topics under the department/branch's expertise
  • Ensure the employees and consultants' timely completion on all relevant mandatory training programs
  • Submit training request per program with supporting documents, review and approve training requests, reports and expense reimbursement within the limits of authority
  • Follow up with missing attendees, if any, of its initiated mandatory training programs
  • Submit required training records to HRD in a timely manner and ensure the documents' completeness and accuracy

Risk Reporting:
  • Compile comprehensive risk management reports summarizing key departmental activities, achievements, and critical operational updates for management review.
  • Compile and/or translate various Risk Management reports, including Key Initiative Implementation Status Reports, Major Event Reports and Head Office Reports, ensuring accuracy and timely delivery.

Business Continuity Coordination:
  • Acting as the ORD-BCM team's main departmental point of contact for all business as usual ("BAU") business continuity related matters
  • Promoting awareness of business continuity within their department
  • Updating relevant BCM documentation at minimum annually or every time there is a significant change within the department
  • Coordinating department participation in BCM exercises

Record Coordination:
  • Assisting the Department Head in implementing record management practices, including all aspects of adherence to the requirements in the Policy, the Retention Procedure, the Record Retention Schedule, and related procedures,
  • Providing expertise on records management issues and for coordinating the implementation of active records systems and Record Retention Schedule
  • Determining whether the addition of a new record type on the Retention Schedule is appropriate, when an Employee determines that Bank records under their control are not included on the RRS, and have a business or regulatory record-keeping requirement,
  • Addressing questions that arise and issue escalation, if applicable
  • Working with the Department Head to safeguard records following the Record Retention Schedule.

ABAC Points of Contact:
  • Assist the Department Head in identifying ABAC Sensitive Parties, ABAC Related Transactions, and ABAC Sensitive Activities in consultation and coordination, as necessary, with the ABAC Manager and LGO.
  • Assist the Department Head in identifying and reviewing accounts, expenditures, and disbursements to be incurred by Covered Persons and Third Parties acting on behalf of the Bank, relating in any way to, or for the benefit of, ABAC Sensitive Parties.
  • Assist the Department Head in obtaining, and be responsible for obtaining, required approvals and authorizations for all ABAC Related Transactions and ABAC Sensitive Activities.
  • Escalate all questions or concerns regarding compliance with the ABAC Policy and this Procedure to the ABAC Officer, ABAC Manager, and/or LGO, as appropriate.
  • Assist the Department Head in maintaining open and direct communications with ABAC Sensitive Third Parties regarding Bank transactions and activities involving in any way ABAC Sensitive Third Parties.
  • Assist the Department Head in implementing and executing risk-based internal controls and any recordkeeping required by the ABAC Laws, the ABAC Policy, and this Procedure for each Owner Department's respective transactions and activities.
  • Assist the Department Head and responsible Owner Department staff in responding to ABAC-related questions presented in risk assessment questionnaires and other inquiries to ensure that such responses are accurate and complete.
  • Act as the primary departmental liaison with the ABAC Manager and LGO.

Department Administrative Support:
  • Manage office resource planning, including the efficient procurement of stationery and diligent oversight of the department's asset inventory.
  • Oversee IT assets management, ensuring accurate inventory tracking, timely replacements, and strict compliance with all technology security policies.
  • Serve as the primary liaison for Head Office Lotus Notes email forwarding requests, ensuring seamless and efficient communication flow between the Head Office and NYB Operational Risk Mangagement Department, within the department and across interdepartmental teams.
  • Facilitate the User Access Tracker updates, ensuring accurate and up-to-date record-keeping of system access for critical security and audit purposes.
  • Facilitate team-building activities to foster a positive and collaborative work culture.
  • Conduct the Annual Abandoned Property Reconciliation process, ensuring meticulous compliance with all applicable regulatory requirements.
  • Maintain and regularly update the department's Authorized Signature Lists.
  • Administer the OA system application submission process, ensuring accuracy and timely processing.

Qualifications
  • Bachelor's degree in Finance, Accounting, Data Science, Business Administration, Economics, or a related field is required.
  • Minimum 4 years of experience in business management, banking operations, or administrative support for AVP level; Minimum 1 years of experience in business management, banking operations, or administrative support for Associate level.
  • Strong analytical and problem-solving skills, with the ability to interpret financial and operational data.
  • Excellent communication and stakeholder management skills, with experience working cross-functionally.
  • Proficiency in Microsoft Office Suite (Excel, PowerPoint, Word) and experience with business reporting tools.
  • Strong ability to manage multiple priorities, meet deadlines, and drive process improvements in a fast-paced financial services environment.

Pay Range
Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.
USD $42,000.00 - USD $150,000.00 /Yr.

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