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

MSCCN

Director, Risk Management

Chicago, IL · On-site

$150K - $170K/yr

The Director of Risk Management will work closely with Finance, Operations, Safety, Legal, and external advisors to ensure risk is managed thoughtfully, proactively, and cost-effectively. The ...

Prime Healthcare

Risk Management Manager

Chicago, IL

$70K - $102K/yr

Risk Management • Schedule: Day shift- 100% Onsite • Facility: St. Mary of Nazareth • ... safety, and operations. Why Resurrection? It's where Big City Energy Meets Suburban Ease ...

Capital One

Principal Risk Manager

Chicago, IL

Works as a liaison between Payments Risk and partners such as Operational Risk * Management, Internal Audit, Third Party Risk Management, etc. Basic Qualifications: * Bachelor's Degree in Business Or ...

Capital One

Principal Risk Manager

Riverwoods, IL

Works as a liaison between Payments Risk and partners such as Operational Risk * Management, Internal Audit, Third Party Risk Management, etc. Basic Qualifications: * Bachelor's Degree in Business Or ...

Zurich Insurance Group

AVP, Risk Manager

Schaumburg, IL · Hybrid

This role partners with senior stakeholders to ensure risk management practices are effectively ... This person will report to the Head of Strategic and Operational Risk. The AVP-Risk Manager will ...

Zurich Insurance Group

AVP, Risk Manager

Schaumburg, IL · On-site

This role partners with senior stakeholders to ensure risk management practices are effectively ... This person will report to the Head of Strategic and Operational Risk. The AVP-Risk Manager will ...

Capital One

Senior Auditor - Risk Management

Riverwoods, IL · On-site

$84K - $103K/yr

As a member of the Audit team, the candidate will focus on audits of Enterprise and Operational Risk Management frameworks and processes in the Second Line of Defense, as well as the related risk ...

PremiStar

Risk Manager

Deerfield, IL · On-site

This position requires a seasoned risk professional with deep property & casualty insurance expertise, executive-level claims management experience, and working knowledge of field operations and ...

LivaNova

Manager, Enterprise Risk Management

Chicago, IL · On-site

$110K - $150K/yr

... Enterprise Risk Management is responsible for overseeing and coordinating the organization ... Provide operational support during crisis events and post-incident reviews. * Executive and Board ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Stand up the operational risk program covering technology risk, business continuity, and third-party risk management. * Build real-time risk monitoring and surveillance systems that can scale with ...

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All JobsOperational Risk Management JobsOperational Risk Management Jobs in Chicago, IL

Operational Risk Management information

See Chicago, IL salary details

$48.4K

$124.3K

$244.1K

How much do operational risk management jobs pay per year?

As of Jun 14, 2026, the average yearly pay for operational risk management in Chicago, IL is $124,344.00, according to ZipRecruiter salary data. Most workers in this role earn between $75,700.00 and $163,800.00 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, ensure compliance with regulations, and often use tools like risk assessment frameworks and data analysis. Their role helps protect the organization from financial loss and reputational damage.

Is operational risk management a good career?

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

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.

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 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 jobs can I get with frm?

With an FRM (Financial Risk Manager) certification, you can pursue roles such as risk analyst, risk manager, credit risk analyst, market risk analyst, and operational risk manager. These positions typically involve assessing financial risks, developing risk management strategies, and using tools like risk modeling and data analysis software.
What are the most commonly searched types of Operational Risk Management jobs in Chicago, IL? The most popular types of Operational Risk Management jobs in Chicago, IL are:
What are popular job titles related to Operational Risk Management jobs in Chicago, IL? For Operational Risk Management jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Operational Risk Management jobs in Chicago, IL look for? The top searched job categories for Operational Risk Management jobs in Chicago, IL are:
Operational Risk Management jobs near you
Infographic showing various Operational Risk Management job openings in Chicago, IL as of June 2026, with employment types broken down into 1% As Needed, 83% Full Time, 12% Part Time, 1% Temporary, 1% Contract, and 2% Nights. Highlights an 91% Physical, 5% Hybrid, and 4% Remote job distribution, with an average salary of $124,344 per year, or $59.8 per hour.

Director, Risk Management

MSCCN

Chicago, IL • On-site

$150K - $170K/yr

Full-time

Medical, Dental, Vision, Retirement

Posted 23 days ago

Job description

Job Description
ATTENTION MILITARY AFFILIATED JOB SEEKERS - Our organization works with partner companies to source qualified talent for their open roles. The following position is available to Veterans, Transitioning Military, National Guard and Reserve Members, Military Spouses, Wounded Warriors, and their Caregivers. If you have the required skill set, education requirements, and experience, please click the submit button and follow the next steps. Unless specifically stated otherwise, this role is "On-Site"
Director, Risk Management
Chicago CorporateJob Description
Director, Risk Management Corporate
With more than 25 years in business, The Parking Spot has grown into the largest near-airport parking company in the United States with over 2,000 valued team members across over 40 locations nationwide. We are proud to offer an Employee Ownership Program, allowing every team member the opportunity to receive a direct financial stake in The Parking Spot's success. As employee owners, every one of us plays a part in providing exceptional service to our guests across the country.
What makes working at The Parking Spot so special? We've built a culture of support, fun, and camaraderie that empowers us to be the most innovative company in the parking industry. As a nationwide business with a small business feel, there are endless opportunities within The Parking Spot to grow your career. Come join us and see how we leverage people and technology to deliver a superior product, outshine our competition, and find creative and innovative solutions to everyday problems.
Salary Range: $150000 per year - $170000 per year
What we offer:
  • Participation in and financial benefit from our shared employee ownership program
  • Hybrid work experience in downtown Chicago
  • Career development and growth opportunities
  • Ability to gain exposure to all areas of the business
  • Great benefits including Medical, Vision, Dental and a 401k plan
  • Annual discretionary bonus program
  • Team oriented, fun and friendly work environment
  • Immediate opportunity to make a large impact

Position Summary:
As a Director of Risk Management, this role leads the Company's enterprise risk and insurance programs and serves as the primary point of accountability for how risk is identified, managed, and transferred across the organization.
This role is responsible for overseeing all risk management programs and initiatives, managing and negotiating the Company's insurance programs (excluding employee benefits), and serving as the primary face of TPS in the insurance marketplace. The Director of Risk Management will work closely with Finance, Operations, Safety, Legal, and external advisors to ensure risk is managed thoughtfully, proactively, and cost-effectively. The Director of Risk Management will report to the Chief Financial Officer.
The role is designed for a seasoned risk professional who combines strong technical risk and insurance knowledge with sound judgment, practical leadership skills, and a collaborative mindset. While the role requires strategic thinking, it is also hands-on and execution oriented, particularly as the Company continues to mature and formalize its risk management processes.
Key Responsibilities:
Enterprise Risk Management & Governance
  • Oversee the Company's enterprise risk management activities, including identification, prioritization, monitoring, and mitigation of key operational, safety, insurance, regulatory, and reputational risks.
  • Serve as a core contributor to the Company's Risk Management Committee, providing data driven insights, risk trend analysis, and escalation of material issues.
  • Develop and maintain risk reporting, dashboards, and key risk indicators to support senior management and Board-level oversight.
  • Help embed risk awareness and accountability into day-to-day decision-making across the organization.

Insurance Program Management
  • Own the design, placement, and ongoing management of the Company's insurance programs across all lines of coverage.
  • Work closely with the Safety team and Operations leadership to support the development and execution of a strong, data driven safety program.
  • Analyze incident and near miss data to identify trends and systemic risks.
  • Partner with Operations and Safety on training initiatives, operational controls, and tools designed to reduce risk companywide.
  • Serve as a key point of coordination following significant incidents, even where direct management responsibility resides elsewhere.
  • Partner with the Legal and Compliance team on claims and litigation strategies

Process Improvement & Market Engagement
  • Continue to mature and formalize risk management processes, governance, and documentation, building structure where needed.
  • Evaluate and leverage risk management and claims systems and tools (system-agnostic) to improve visibility, analytics, and decision-making.
  • Actively represent TPS in the insurance market, reinforcing the Company's commitment to disciplined risk management, safety, and continuous improvement.

Knowledge, Skills & Experience Required:
  • Bachelor's Degree required, preferably in Finance, Business Administration, Economics, or Risk Management
  • Professional certifications preferred (e.g., ARM, CPCU, CRM).
  • 8+ years of relevant experience in a corporate risk environment overseeing enterprise insurance programs and working directly with brokers, carriers, TPAs, and outside counsel
  • Demonstrated ability to operate across functions, influence without direct authority, and balance strategic thinking with practical execution.
  • 15-20% travel may be required

______
Any disclosed pay range is based on a consideration of neutral factors and criteria such as required qualifications, experience, education, skill, training, certifications, seniority, etc. The Parking Spot reserves the right to offer the selected candidate or applicant a salary at an appropriate level to be set and determined by the employer that is commensurate with the applicant's qualifications, experience, education, skill, training, certifications, or seniority.
At The Parking Spot, we don't just accept difference - we celebrate and seek it. We believe a diverse, inclusive, and equitable company is one where all employees, partners, and customers are welcome, supported, and valued. As a company in the travel industry, we witness the power of bringing individuals from different backgrounds and communities together. We treat all others with dignity and respect and stand firmly against racism and discrimination in any form. We intentionally develop diverse teams and relationships to ensure all voices are heard and to foster equal opportunity for all. We are committed to listening, learning, and growing because we know that our work is never done.

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