ZipRecruiter

Log In

1

Operational Risk Manager Jobs in Gaithersburg, MD

Flatiron Construction Corp

Risk Manager

Riverdale, MD · On-site

$115K - $125K/yr

Overview The Risk Manager is responsible for leading the project's risk management program and ... Identify operational, contractual, insurance, and safety-related risks affecting the project.

Bechtel Global Corporation

Risk Manager

Reston, VA · On-site

Our services span from initial planning and investment, through start-up and operations. Core to ... This Project Risk Manager role is a senior role responsible for managing the project risk ...

New

Capital One

Lead Risk Specialist

Mclean, VA · On-site

$99K/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 ...

New

EagleBank

US-MD-Bethesda

Bethesda, MD · Hybrid

$114K - $192K/yr

The Operational Risk Manager drives and supports the Operational Risk Management framework, to enable the Bank to effectively identify, monitor, measure, and control its operational risk profile.

Capital One

Senior Associate, Risk Manager

Mclean, VA · On-site

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

Deloitte

Financial Risk Manager

Mclean, VA · On-site

Learn how to identify, evaluate, and prioritize business, operational, regulatory, and technology ... Credit Risk, Liquidity Risk, Market Risk, Capital Management/Stress Testing * Knowledge of ...

EagleBank

Fraud Risk Manager

Silver Spring, MD · Hybrid

$104K - $173K/yr

Responsibilities The Fraud Risk Manager manages the operations of the fraud investigations department and the supervision of its staff. They develop policies and procedures to prevent fraud ...

next page

Showing results 1-20

All JobsOperational Risk JobsOperational Risk Manager JobsOperational Risk Manager Jobs in Gaithersburg, MD

Operational Risk Manager information

See Gaithersburg, MD salary details

$50.8K

$130.4K

$256.1K

How much do operational risk manager jobs pay per year?

As of Jul 12, 2026, the average yearly pay for operational risk manager in Gaithersburg, MD is $130,417.00, according to ZipRecruiter salary data. Most workers in this role earn between $79,400.00 and $171,800.00 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 4 pillars of operational risk management?

The four pillars of operational risk management are risk identification, risk assessment, risk mitigation, and risk monitoring. An Operational Risk Manager uses these pillars to develop strategies that minimize potential losses from internal processes, people, systems, or external events, often utilizing tools like risk dashboards and frameworks such as Basel II. Mastery of these pillars is essential for effective risk oversight and compliance.

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 risk management tools and data analysis to support decision-making.

Do risk managers make good money?

Operational Risk Managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, the median annual salary ranges from $80,000 to over $130,000, with additional compensation such as bonuses and certifications like FRM or ORM enhancing earning potential.

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 are the three C's of operational risk management?

The three C's of operational risk management are Culture, Controls, and Communication. These elements help organizations identify, assess, and mitigate risks effectively, which is essential for an Operational Risk Manager to ensure operational resilience and compliance. Developing strong controls and fostering a risk-aware culture are key skills in this role.

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 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 popular job titles related to Operational Risk Manager jobs in Gaithersburg, MD? For Operational Risk Manager jobs in Gaithersburg, MD, the most frequently searched job titles are:
What job categories do people searching Operational Risk Manager jobs in Gaithersburg, MD look for? The top searched job categories for Operational Risk Manager jobs in Gaithersburg, MD are:
What cities near Gaithersburg, MD are hiring for Operational Risk Manager jobs? Cities near Gaithersburg, MD with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Risk Manager

Risk Manager

Flatiron Construction Corp

Riverdale, MD • On-site

$115K - $125K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 2 days ago

Job description

Overview
The Risk Manager is responsible for leading the project's risk management program and ensuring that risks and opportunities are identified, evaluated, documented, communicated, and managed throughout the project lifecycle. This position works closely with project leadership, construction teams, engineering, safety, quality, procurement, legal, and commercial personnel to proactively manage risks that may affect project objectives.
The Risk Manager develops and maintains the project risk register, facilitates risk assessments, monitors mitigation plans, and provides reporting and analysis to support informed decision-making.
Collaborate with industry experts and committed teams to shape successful project outcomes and safeguard our interests.
Apply now and transform your career with us.
What you will be doing
  • Insurance Program Administration
    • Manage and administer the Purple Line Project Owner Controlled Insurance Program (OCIP).
    • Coordinate contractor enrollment and compliance with OCIP requirements.
    • Review insurance certificates, endorsements, and coverage requirements.
    • Monitor insurance program performance and compliance with contractual obligations.
    • Serve as the primary contact for insurance carriers, brokers, and project stakeholders.

    Claims Management
    • Direct and oversee all project-related claims, including:
      • Workers' Compensation
      • General Liability
      • Automobile Liability
      • Property Damage
      • Professional Liability
      • Management Liability
    • Coordinate claim investigations, documentation, reporting, and resolution activities.
    • Review loss trends and identify opportunities for risk reduction.
    • Collaborate with legal counsel and insurance carriers regarding litigation and settlement strategies.
    • Monitor claim reserves and claim closure performance.

    Risk Assessment and Mitigation
    • Identify operational, contractual, insurance, and safety-related risks affecting the project.
    • Develop and implement risk mitigation strategies.
    • Analyze incident and claims data to identify emerging trends.
    • Support crisis management and incident response activities.
    • Recommend corrective actions to reduce project exposure.

    Contractor Compliance
    • Monitor contractor compliance with insurance and contractual requirements.
    • Conduct audits of contractor insurance documentation and payroll reporting.
    • Review enrollment submissions and verify eligibility for participation in the OCIP.
    • Resolve compliance deficiencies and coverage issues.

    Reporting and Stakeholder Communication
    • Prepare monthly and quarterly risk management reports.
    • Present claims, insurance, and risk management updates to executive leadership and project stakeholders.
    • Facilitate regular claims review and risk management meetings.
    • Provide guidance to project teams regarding insurance coverage and risk-related matters.

    Safety and Loss Prevention
    • Partner with project safety teams to identify and address risk exposures.
    • Participate in safety committee meetings and incident reviews.
    • Support return-to-work initiatives and injury management programs.
    • Utilize claims and incident data to support proactive safety improvements.

    Regulatory and Contractual Compliance
    • Ensure compliance with applicable insurance regulations and project contractual requirements.
    • Support audits and reporting requirements for project owners and governmental agencies.
    • Maintain complete and accurate records related to claims, insurance, and compliance activities.

What we are looking for
Education
  • Bachelor's degree in Risk Management, Business Administration, Construction Management, Finance, Insurance, or related field preferred.

Experience
  • Minimum 10 years of experience in construction risk management, insurance administration, OCIP/CCIP management, or claims management.
  • Experience supporting large transportation, transit, infrastructure, or heavy civil construction projects.
  • Demonstrated experience managing complex insurance and claims programs.

Knowledge, Skills, and Abilities
  • Extensive knowledge of OCIP and CCIP programs.
  • Strong understanding of construction insurance coverages and claims processes.
  • Knowledge of workers' compensation, general liability, automobile liability, property, and professional liability claims.
  • Experience working with insurance carriers, brokers, attorneys, and project owners.
  • Strong analytical, organizational, and communication skills.
  • Ability to manage multiple stakeholders and complex issues simultaneously.

Preferred Certifications
  • Associate in Risk Management (ARM)
  • Certified Risk Manager (CRM)
  • Construction Risk and Insurance Specialist (CRIS)
  • CPCU (Chartered Property Casualty Underwriter)
  • Relevant insurance or risk management certifications

Why work for us
Some of the benefits you may be eligible for as an employee are:
  • Comprehensive compensation package and paid time off program
  • Industry leading 401(k)/RRSP
  • Medical/Extended Health Care, Dental, Vision and/or Provincial Medical
  • Wellness benefits & Employee Assistance Program
  • Tuition Reimbursement Program

We are an EEO/ADA/Veterans employer.
Salary Min
USD $115,000.00/Yr.
Salary Max
USD $125,000.00/Yr.

Apply