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Operational Risk Manager Jobs in Elgin, IL (NOW HIRING)

Capital One

Manager, Risk Manager

Riverwoods, IL · On-site

Partner effectively with specialized teams across the enterprise-including Operational Risk Management, Enterprise Risk Management, Compliance, Business Risk Offices, Information Technology, Basel ...

IMC

Experienced Risk Manager

Chicago, IL · On-site

IMC is looking for an Experienced Risk Manager to join our Chicago Risk team, focusing primarily on ... Our team has a broad mandate across market, credit, capital, and operational risk. Rather than ...

Early Warning Services

IT Risk Manager

Chicago, IL · Hybrid

Build and manage the business line's centralized LOD1 function; act as business-line liaison to Enterprise Risk Management, Operational Risk Management, and Compliance in support of the company ...

IMC B.V.

Experienced Risk Manager

Chicago, IL · On-site

$150 - $210/hr

IMC is looking for an Experienced Risk Manager to join our Chicago Risk team, focusing primarily on ... Our team has a broad mandate across market, credit, capital, and operational risk. Rather than ...

New

IMC

Experienced Risk Manager

Chicago, IL · On-site

$150K - $210K/yr

IMC is looking for an Experienced Risk Manager to join our Chicago Risk team, focusing primarily on ... Our team has a broad mandate across market, credit, capital, and operational risk. Rather than ...

Capital One

Lead Risk Specialist

Riverwoods, IL · On-site

$102K/yr

Audit-Ready Operations: Foster a culture of proactive risk awareness, helping manage horizontal routines to ensure the business is continuously audit-ready. * Cross-Functional Collaboration: Partner ...

Capital One

Lead Risk Specialist

Chicago, IL · On-site

$101K/yr

Audit-Ready Operations: Foster a culture of proactive risk awareness, helping manage horizontal routines to ensure the business is continuously audit-ready. * Cross-Functional Collaboration: Partner ...

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All JobsOperational Risk JobsOperational Risk Manager JobsOperational Risk Manager Jobs in Elgin, IL

Operational Risk Manager information

See Elgin, IL salary details

$46.5K

$119.3K

$234.3K

How much do operational risk manager jobs pay per year?

As of Aug 19, 2026, the average yearly pay for operational risk manager in Elgin, IL is $119,319.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,700.00 and $157,200.00 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

What are the most commonly searched types of Operational Risk jobs in Elgin, IL?

The most popular types of Operational Risk jobs in Elgin, IL are:

What job categories do people searching Operational Risk Manager jobs in Elgin, IL look for?

The top searched job categories for Operational Risk Manager jobs in Elgin, IL are:

What cities near Elgin, IL are hiring for Operational Risk Manager jobs?

Cities near Elgin, IL with the most Operational Risk Manager job openings:

Operational Risk Manager jobs near you
Infographic showing various Operational Risk Manager job openings in Elgin, IL as of August 2026, with employment types broken down into 92% Full Time, 5% Part Time, and 3% Contract. Highlights an 90% In-person, 5% Hybrid, and 5% Remote job distribution, with an average salary of $119,319 per year, or $57.4 per hour.

Manager, Risk Manager

Capital One

Riverwoods, IL • On-site

Full-time

Re-posted 28 days ago

Capital One rating

7.7

Company rating: 7.7 out of 10

Based on 147 frontline employees who took The Breakroom Quiz

93rd of 171 rated banks

Job description

Manager, Risk Manager
Are you ready to lead from the front line of a top 10 bank? Do you thrive in a high-visibility environment where your strategic relationship-building and rigorous audit expertise translate directly into innovative risk solutions? As a Risk Manager at Capital One, you won't just monitor risk-you will partner with business leaders to actively shape our defense strategies, ensuring the company remains stable, resilient, and profitable.
We are seeking highly motivated Risk Management professionals who blend sharp organizational prowess, internal/external audit experience, and exceptional communication skills. In this role, you will enjoy significant exposure across multiple lines of business, leveraging your audit background to design, champion, and implement progressive frameworks that safeguard our enterprise.
Responsibilities:
  • Strategic Risk Consulting: Serve as a trusted advisor to core business areas, providing tailored guidance and proactive risk mitigation strategies relative to their specific business lines.
  • Audit & Remediation Leadership:Lead risk assessments, manage internal/external audit preparation, and oversee the successful execution of audit remediation efforts to ensure compliance.
  • Stakeholder & Client Management:Cultivate, leverage, and sustain key executive relationships across the enterprise to foster deep collaboration and break down silos.
  • Reporting & Compliance Excellence: Own, enhance, and execute internal and external reporting processes, ensuring flawless documentation that aligns with complex regulatory and internal audit expectations.
  • Framework Alignment: Map and adjust localized business processes to seamlessly align with overarching Capital One corporate requirements and risk frameworks.
  • Governance Documentation: Author, review, and continuously refine critical governance documents, including policies, standards, procedures, and operational guidelines.
  • Cross-Functional Collaboration: Partner effectively with specialized teams across the enterprise-including Operational Risk Management, Enterprise Risk Management, Compliance, Business Risk Offices, Information Technology, Basel Program, Internal Audit, and Regulatory Relations-to achieve unified risk objectives.

Basic Qualifications:
  • Bachelor's Degree or military experience
  • At least 3 years of experience in Internal Audit, External Audit, Risk Management, or Compliance within the financial services industry
  • At least 2 years of Project Management or Process Management experience

Preferred Qualifications:
  • At least 5 years of experience in Internal Audit, External Audit, Risk Management, or Compliance within the financial services industry
  • Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified Public Accountant (CPA), or similar professional certification
  • At least 3 years of experience leading cross-functional projects and audit readiness programs
  • Strong communication and stakeholder management skills, with a proven track record of influencing senior leadership through audit findings and risk insights

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.
The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.
Riverwoods, IL: $138,100 - $157,700 for Risk Manager
Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.
This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
This role is expected to accept applications for a minimum of 5 business days.
No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com
Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.
Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

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