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Operational Risk Associate Jobs in Westfield, MA

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Operational Risk Associate information

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$11

$27

$55

How much do operational risk associate jobs pay per hour?

As of Sep 10, 2026, the average hourly pay for operational risk associate in Westfield, MA is $27.40, according to ZipRecruiter salary data. Most workers in this role earn between $18.56 and $31.63 per hour, depending on experience, location, and employer.

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 key skills and qualifications needed to thrive as an Operational Risk Associate?

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 cities near Westfield, MA are hiring for Operational Risk Associate jobs?

Cities near Westfield, MA with the most Operational Risk Associate job openings:

Operational Risk Associate jobs near you

Associate Underwriter

Avon, CT • On-site

Paragon Insurance Holdings
Insurance Services • 11 - 50 employees
Learn more about Paragon Insurance Holdingsexternal

Full-time

Medical, Retirement

This job post has expired 1 day ago. Applications are no longer accepted.

Job description

Formed as a broadly diversified MGA, Paragon supports retail agents and insurance carriers, and reinsurers with our strong underwriting talent, broad capabilities, sophisticated operations, and varied business interests. Our goal: To help our partners do business better. And we do. 

We are looking for an Associate Underwriter for Excess & Surplus Lines with the ability to review, evaluate, and determine premium for applications. This role will be required to quote, review binding/endorsement requests, review inspections and audits within the carriers delegated authority.  Associate Underwriter will also build a knowledge base of the competitive markets, coverages, and agents to ensure efficient delivery, follow-up and servicing requirements for new business and renewal accounts.

The Associate Underwriter can be located in Nashville TX, Dallas TX, Avon CT or Boston MA and can work a hybrid schedule.

Responsibilities: 

  • Develop the ability to perform risk selection and analysis by examining and evaluating documents such as applications, inspections reports, valuations, risk meters scores and insured web sites. Follow underwriting guidelines and authority granted in the review of risks and account selection.
  • Build relationships with agents through timely service of accounts and risk placement.
  • Effectively communicate with agent or brokers, company underwriters, internal staff and management to obtain additional information, quote accounts, as well as servicing existing accounts.
  • Connect with carrier underwriters to assist in learning coverage, guidelines, and technology.
  • Address assigned workload within quality, productivity and service standards as established by the company/underwriting guidelines.
  • Appropriate and timely response to questions posed by brokers, clients, underwriters, and other company personnel.
  • Special projects as needed/assigned.

Requirements: 

  •  Recognize and effectively act upon situations with limited supervision.
  • 1-3 years of similar related job experience
  • Good computer and application skills.
  • Excellent oral and written communication skills
  • Ability to follow instructions and adhere to prescribed routines and practices.
  • Critical and analytical thinking abilities.
  • Effective time management and organizational skills
  • Interpersonal skills/Effective team skills
  • High School Diploma required.
  • Working knowledge of insurance coverages, procedures, and rating.

The base salary offered for the successful candidate will be based on compensable factors such as job-relevant education, job-relevant experience, training, licensure, demonstrated competencies, geographic location, and other factors. Discretionary incentive compensation may be awarded. Jencap also offers a range of benefits and programs, based on eligibility, which currently include but are not limited to; comprehensive health care coverage, a 401k plan, and tuition reimbursement. Jencap is an emerging and rapidly growing leader in the industry and as such, we approach talent acquisition as an opportunity to identify the best talent. Therefore, the level of the role and compensation may vary depending upon the best available candidate. 

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