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Operational Risk Manager Jobs in Minnesota (NOW HIRING)

Rjm Construction

Risk Manager

Golden Valley, MN · On-site

$150 - $200/hr

Position Summary The Risk Manager is responsible for leading and administering the company's risk management, insurance, and claims programs while supporting operational teams in managing risk across ...

RJM CONSTRUCTION LLC

Risk Manager

Golden Valley, MN · On-site

Position Summary The Risk Manager is responsible for leading and administering the company's risk management, insurance, and claims programs while supporting operational teams in managing risk across ...

Titus Talent Strategies

Risk Manager

Minneapolis, MN · On-site

Position Summary The Risk Manager is responsible for leading and administering the company's risk management, insurance, and claims programs while supporting operational teams in managing risk across ...

Children's Minnesota

Risk Manager

Minneapolis, MN · On-site

Provides both strategic program and operational management to the Family Liaison function with the Family Liaison roles as direct reports. * Primary focus on risk assessment and guidance on all ...

Donaldson Company, Inc.

Risk Manager

Bloomington, MN · Hybrid

$93K - $122K/yr

The position requires a detail-oriented professional who can effectively collaborate across functions-including HR, EHS, Finance, Legal, and Operations-to drive claim outcomes, manage risk, and ...

Children's Minnesota

Risk Manager

Minneapolis, MN · On-site

Provides both strategic program and operational management to the Family Liaison function with the Family Liaison roles as direct reports. * Primary focus on risk assessment and guidance on all ...

Childrens Health Care

Risk Manager

Minneapolis, MN · On-site

Provides both strategic program and operational management to the Family Liaison function with the Family Liaison roles as direct reports. * Primary focus on risk assessment and guidance on all ...

Children's Minnesota

Risk Manager

Minneapolis, MN · On-site

Provides both strategic program and operational management to the Family Liaison function with the Family Liaison roles as direct reports. * Primary focus on risk assessment and guidance on all ...

Beacon Mobility

Risk Manager

Maple Grove, MN · On-site

$150K/yr

... operations and corporate partners - Manage insurance program renewals, administration, and document ... risk management strategies impact the organization - Implement solutions without creating ...

Donaldson Aerospace & Defense

Risk Manager

Bloomington, MN · On-site

$100 - $125/hr

The position requires a detail-oriented professional who can effectively collaborate across functions--including HR, EHS, Finance, Legal, and Operations--to drive claim outcomes, manage risk, and ...

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Operational Risk Manager information

See Minnesota salary details

$46K

$118.2K

$232.1K

How much do operational risk manager jobs pay per year?

As of Sep 8, 2026, the average yearly pay for operational risk manager in Minnesota is $118,220.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,000.00 and $155,700.00 per year, depending on experience, location, and employer.

What does an operational risk manager do?

An operational risk manager works to identify and limit the risk associated with a company’s operations. As an operational risk manager, your responsibilities involve assessing business operations, identifying issues, and creating reports on your findings. You then help develop policies and implement changes to lessen operational risks. Other duties include continually monitoring the business to find potential new threats and ensuring company compliance with laws and regulations.

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 a solid understanding of risk assessment, regulatory compliance, and internal controls, typically supported by a degree in finance, business, or a related field. Familiarity with risk management frameworks, GRC (governance, risk, and compliance) systems, and certifications such as FRM or ORM are highly valued. Strong analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These competencies are crucial for identifying, mitigating, and communicating operational risks, ensuring organizational stability and regulatory adherence.

What are some common challenges faced by operational risk managers in maintaining effective risk controls across different departments?

Operational Risk Managers often encounter challenges in ensuring consistent risk controls due to varying processes, priorities, and risk appetites across departments. Communication gaps and resistance to change can make it difficult to implement standardized procedures. Successfully overcoming these challenges involves building strong cross-functional relationships, conducting regular training, and fostering a risk-aware culture to ensure alignment on risk management practices throughout the organization.

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

AspectOperational Risk ManagerRisk Analyst
CertificationsCFA, FRM, or similarCFA, FRM, or similar
Work EnvironmentFinancial institutions, banks, insurance companiesFinancial firms, consulting, corporate risk teams
ResponsibilitiesIdentify, assess, and mitigate operational risks; develop risk frameworksAnalyze risk data, support risk assessments, prepare reports

The Operational Risk Manager focuses on managing and mitigating operational risks within organizations, often holding certifications like CFA or FRM. In contrast, Risk Analysts primarily analyze risk data and support risk management processes. Both roles are vital in financial sectors and share similar credentials, but the Operational Risk Manager has a broader responsibility for risk mitigation strategies.

More about Operational Risk Manager jobs

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For Operational Risk Manager jobs in Minnesota, the most frequently searched job titles are:

What job categories do people searching Operational Risk Manager jobs in Minnesota look for?

The top searched job categories for Operational Risk Manager jobs in Minnesota are:

What cities in Minnesota are hiring for Operational Risk Manager jobs?

Cities in Minnesota with the most Operational Risk Manager job openings:

Operational Risk Manager jobs near you
Infographic showing various Operational Risk Manager job openings in Minnesota as of September 2026, with employment types broken down into 79% Full Time, 10% Part Time, and 11% Contract. Highlights an 86% Physical, 2% Hybrid, and 12% Remote job distribution, with an average salary of $118,220 per year, or $56.8 per hour.

Operational Risk Analyst, Sr

Lake Elmo, MN • On-site

Old National Bank
See more jobs at Old National Bankexternal

Full-time

Medical, Dental, Vision, Retirement

Posted 19 days ago

Old National Bank rating

8.2

Company rating: 8.2 out of 10

Based on 39 frontline employees who took The Breakroom Quiz

54th of 176 rated banks

Job description

Overview
Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.
We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.
Responsibilities
The Operational Risk Management (ORM) Senior Analyst serves as a senior individual contributor within the Second Line of Defense, supporting the ORM Manager through independent execution of complex operational risk activities. The role is responsible for leading risk assessments, performing credible challenge of First Line risk practices, translating operational risk data into actionable insights, and contributing to the ongoing enhancement of the Operational Risk Management Framework.
The ORM Senior Analyst demonstrates strong technical expertise, sound judgment, and the ability to influence stakeholders, while supporting the overall effectiveness of the ORM program.
Salary Range
The salary range for this position is $60.000 - $121,300 per year plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate's relevant skills and professional experience, educational qualifications, and geographic location.
Key Accountabilities
Operational Risk Management
  • Independently execute and support enhancements to core ORM programs, including Risk and Control Self-Assessments (RCSAs), Operational Loss Event Management, Control Monitoring and Testing, and Issue Management.
  • Contribute to the development, refinement, and consistent application of ORM methodologies, procedures, tools, and reporting practices.
  • Collaborate with First Line business groups and enterprise functions to assess and challenge operational risk considerations, support business liaison understanding of ORM expectations, and promote consistent application of operational risk practices across business continuity planning, third-party risk, change initiatives, and other activities with operational risk exposure.
  • Apply effective Second Line challenge to First Line risk identification, control design, and remediation plans.
  • Perform other operational risk management duties, special projects, and program initiatives as assigned to support evolving ORM priorities, regulatory expectations, and business needs.

Risk Assessments
  • Lead risk assessments for assigned lines of business and facilitate RCSAs for Second Line enterprise functions in accordance with established ORM methodology, including identification of risks outside established risk appetite, tolerance, or expected control performance.
  • Evaluate inherent risk, control effectiveness, and residual risk using established ORM rating methodologies and supporting evidence.
  • Review and challenge First Line RCSA outputs and provide clear, risk-based feedback on assessment results, risk and control taxonomy alignment, control design, ratings, and supporting rationale.
  • Document assessment results, including risk ratings, control evaluations, key observations, and agreed-upon remediation actions.
  • Track ORM challenges and related management responses, validating closure evidence and completion of agreed-upon actions.
  • Communicate assessment results, key themes, risk appetite or tolerance concerns, and escalation items to management and appropriate governance committees or forums.

Control Monitoring, Testing, and Issue Management
  • Execute independent control monitoring and targeted testing based on risk profiles, control performance, emerging issues, and ORM priorities.
  • Analyze testing results, identify root causes or contributing factors, and recommend risk-based remediation actions, including escalation of control deficiencies into formal issues when warranted.
  • Track remediation progress and escalate overdue or high-risk issues.
  • Perform independent validation of issue remediation to confirm corrective actions effectively address identified risks, root causes, and intended outcomes.
  • Monitor operational risk issue reporting, escalation, and timely remediation, ensuring appropriate follow-up with First Line owners.

Risk Reporting & Stakeholder Engagement
  • Contribute to operational risk reports, dashboards, and governance materials for management and appropriate governance committees or forums.
  • Develop risk reporting content that highlights trends, emerging risks, control weaknesses, key risk indicators, risk appetite measures, and recommended management actions.
  • Support regulatory exams and internal audits related to operational risk, including information requests, audit or regulatory recommendation follow-up, issue follow-up, and management response support.
  • Serve as a trusted risk partner to First Line stakeholders while maintaining Second Line independence and objective challenge.
  • Escalate significant operational risk concerns, emerging themes, and unresolved issues to the ORM Manager or appropriate governance forum as warranted.

Key Competencies for Position
  • Independent Risk Judgment
  • Second Line Influence and Objective Challenge
  • Governance Reporting and Executive Communication
  • Risk Analysis, Root Cause Evaluation, and Issue Validation
  • Coaching and Knowledge Sharing

Qualifications and Education Requirements
  • Bachelor's degree in Business, Finance, Accounting, or a related field; operational risk, enterprise risk, audit, compliance, or banking-related certification preferred.
  • 5+ years of experience in operational risk management, internal audit, compliance, enterprise risk management, or a related risk function, preferably within financial services.
  • Strong understanding of regulatory expectations, operational risk frameworks, and effective Second Line oversight practices, including credible challenge, risk governance, and control effectiveness.
  • Experience leading or materially supporting RCSAs, control testing, and issue management activities.
  • Demonstrated ability to mentor junior staff, manage multiple priorities, and deliver high-quality work with limited supervision.
  • Excellent written, verbal, presentation, collaboration, and interpersonal skills, with the ability to communicate complex operational risk concepts clearly, influence stakeholders, and solve problems in a risk-based manner.
  • Proficiency with GRC systems, Microsoft Office tools, and data or reporting tools used to support operational risk analysis.

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.
As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.
Our culture is firmly rooted in our core values.
We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.
We are Old National Bank. Join our team!

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