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Operational Risk Management Jobs in Baltimore, MD

Mondo

Compliance & Risk Analyst

Owings Mills, MD · On-site

$30 - $34/hr

The ideal candidate has experience in technology audit, operational controls, and risk management within a financial services environment. Day-to-Day Responsibilities: • Triage and facilitate audit ...

Aegon

Sr Risk Manager, GRC Systems

Baltimore, MD

Summary As Transamerica continues to strengthen and evolve its Operational Risk Management (ORM) program, we are creating a new position to drive the next phase of our Governance, Risk, and ...

Sheppard Pratt

Director of Risk Management

Towson, MD

$106K - $175K/yr

This position oversees risk management processes, supports litigation and claims management ... The Director collaborates with operational leaders, committees, and external stakeholders to ...

Sheppard Pratt

Director of Risk Management

Towson, MD · On-site

$51.18 - $84.34/hr

This position oversees risk management processes, supports litigation and claims management ... The Director collaborates with operational leaders, committees, and external stakeholders to ...

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All JobsOperational Risk Management JobsOperational Risk Management Jobs in Baltimore, MD

Operational Risk Management information

See Baltimore, MD salary details

$46.7K

$119.9K

$235.5K

How much do operational risk management jobs pay per year?

As of Jul 30, 2026, the average yearly pay for operational risk management in Baltimore, MD is $119,938.00, according to ZipRecruiter salary data. Most workers in this role earn between $73,000.00 and $158,000.00 per year, depending on experience, location, and employer.

What does an operational risk manager do?

An operational risk manager identifies, assesses, and monitors risks that could disrupt a company's operations, such as process failures, fraud, or system outages. They develop strategies to mitigate these risks, often using risk management tools and frameworks, and ensure compliance with regulations. Their role involves analyzing data, implementing controls, and working with various departments to minimize operational losses.

What is the highest paying risk management job?

The highest paying risk management roles are often senior positions such as Chief Risk Officer (CRO) or Director of Risk Management, with salaries exceeding $200,000 annually. These roles require extensive experience, advanced certifications like FRM or PRM, and strong leadership skills in overseeing enterprise-wide risk strategies.

Is risk management a good career?

Operational risk management is a valuable career that involves identifying, assessing, and mitigating risks within organizations to ensure stability and compliance. It often requires strong analytical skills, knowledge of industry regulations, and certifications such as FRM or ORM. The field offers opportunities for advancement and is essential across various industries, including finance, healthcare, and manufacturing.

What is the difference between Operational Risk Management vs Risk Analyst?

AspectOperational Risk ManagementRisk Analyst
CredentialsCertifications like FRM, CRM, or RIMS; relevant degrees in finance, risk management, or businessSimilar certifications; degrees in finance, economics, or related fields
Work EnvironmentCorporate offices, financial institutions, or industries with risk management departmentsFinancial firms, consulting agencies, or corporate risk teams
Employer & Industry UsageUsed across banking, insurance, and large corporations to manage operational risksCommonly employed in finance, insurance, and consulting to analyze risk data

Operational Risk Management focuses on identifying, assessing, and mitigating risks related to daily business operations. Risk Analysts analyze data to evaluate potential risks and support decision-making. While both roles require similar credentials and work environments, Operational Risk Managers oversee comprehensive risk strategies, whereas Risk Analysts focus on data analysis and risk assessment.

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

To thrive as an Operational Risk Manager, you need strong analytical abilities, knowledge of risk assessment frameworks, and typically a degree in finance, business, or a related field. Familiarity with risk management software, regulatory compliance systems, and certifications like FRM or ORM are commonly required. Exceptional communication, problem-solving, and stakeholder management skills help you influence business processes and foster a risk-aware culture. These skills ensure the effective identification, mitigation, and communication of risks, safeguarding organizational assets and compliance.

What is the highest salary for a risk manager?

The highest salary for a risk manager can exceed $150,000 annually, especially for those with extensive experience, advanced certifications like FRM or CFA, and leadership roles in large organizations. Senior risk managers or directors in financial services or multinational corporations often earn the top-tier salaries in this field.

What is operational risk management?

Operational risk management is the process of identifying, assessing, and controlling risks that arise from an organization’s day-to-day operations. These risks can include system failures, human errors, fraud, or external events that could disrupt business processes. Effective operational risk management helps organizations minimize losses and ensure business continuity by implementing controls, monitoring processes, and developing contingency plans. It is an essential component of overall risk management in industries such as finance, healthcare, and manufacturing.

What are common challenges faced by professionals in Operational Risk Management, and how can they be addressed?

Professionals in Operational Risk Management often face challenges such as identifying emerging risks, ensuring regulatory compliance, and fostering a risk-aware culture across departments. These challenges can be addressed by staying updated on industry regulations, implementing robust risk assessment tools, and promoting open communication with business units. Regular training and collaboration with other risk management functions also help in proactively managing potential operational threats and ensuring organizational resilience.
What are popular job titles related to Operational Risk Management jobs in Baltimore, MD? For Operational Risk Management jobs in Baltimore, MD, the most frequently searched job titles are:
What job categories do people searching Operational Risk Management jobs in Baltimore, MD look for? The top searched job categories for Operational Risk Management jobs in Baltimore, MD are:
Operational Risk Management jobs near you
Infographic showing various Operational Risk Management job openings in Baltimore, MD as of July 2026, with employment types broken down into 1% As Needed, 82% Full Time, 13% Part Time, 1% Temporary, and 3% Contract. Highlights an 93% Physical, 2% Hybrid, and 5% Remote job distribution, with an average salary of $119,938 per year, or $57.7 per hour.

Senior Analyst, Operational Risk Management (Hybrid)

Aegon

Baltimore, MD • Hybrid

$80K - $95K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 5 days ago

Job description

Job Family

Operational Risk

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.

Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment - one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.

Who We Are

We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.

Today, we're part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what's important to them.

We're empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good - for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.

What We Do

Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It's part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.

Job Description Summary

Support the day-to-day execution of the Transamerica Operational Risk Management activities including identification, assessment, monitoring, and reporting of key risks across the company business and technology landscape.

Job Description

Responsibilities:

  • Participate in risk assessments across assigned business groups.

  • Participate in process design reviews and identify areas for improvement to increase efficiency and quality.

  • Carry out action plan status reporting and monitoring, and assist with root cause analysis.

  • Assist process owners during the development of action plans to assess adequacy of actions taken by management.

  • Participate in the execution of Process Risk Assessments.

  • Participate in and support management control testing efforts.

  • Collaborate with peers in the Risk Management function, and various partners and stakeholders throughout the organization (e.g. line and functional management, compliance, IT, Internal Audit).

  • Navigate company Governance Risk & Compliance (GRC) tool to record, update and report on various risk issues, risk events, action plans, etc.


Qualifications:

  • Bachelor's degree in accounting, finance, or relevant field

  • Four years of experience in operational risk management or internal controls, or experience in an operational role with working knowledge of operational risk management or internal controls

  • Experience in operational risk management, internal controls, audit, or equivalent field

  • Good knowledge and experience with risk management principles and techniques including development of process flows, identification and assessment of risks and controls, testing and monitoring procedures, and development of related metrics

  • Ability to present and interact with various levels of management

  • Ability to build relationships with people at all levels

  • Excellent oral/written communication skills


Preferred Qualifications:

  • Knowledge and/or experience in the insurance or financial services industry

  • Data Analytics experience, particularly Power BI or advanced Excel

  • CPA

  • CIA

  • CISA

Working Conditions:

  • Hybrid office environment: 3 days in office (Cedar Rapids, IA/Baltimore, MD, Denver, CO)

Compensation:

  • The Salary for this position generally ranges between$80,000 - $95,000 annually.Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors includingqualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

  • Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company's discretion.

#LI-BD1

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.

Disclaimer:
Beware of fake job offers!

We've been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions. Please note:

  • We will never request personal information such as ID or payment for equipment upfront.

  • Official offers are sent via DocuSign following a verbal offer-not through text or email.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

  • Competitive Pay

  • Bonus for Eligible Employees

Benefits Package

  • Pension Plan

  • 401k Match

  • Employee Stock Purchase Plan

  • Tuition Reimbursement

  • Disability Insurance

  • Medical Insurance

  • Dental Insurance

  • Vision Insurance

  • Employee Discounts

  • Career Training & Development Opportunities

Health and Work/Life Balance Benefits

  • Paid Time Off starting at 160 hours annually for employees in their first year of service.

  • Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).

  • Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

  • Parental Leave - fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.

  • Adoption Assistance

  • Employee Assistance Program

  • Back-Up Care Program

  • PTO for Volunteer Hours

  • Employee Matching Gifts Program

  • Employee Resource Groups

  • Inclusion and Diversity Programs

  • Employee Recognition Program

  • Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We're thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica's Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

* As of December 31, 2023

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