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

Primient

Sr. Risk Analyst

Schaumburg, IL · On-site

Build strong relationships with key stakeholders across the organization to ensure risk management initiatives are integrated into day-to-day operations. * Educate and provide guidance to teams on ...

Primient

Sr. Risk Analyst

Schaumburg, IL

Build strong relationships with key stakeholders across the organization to ensure risk management initiatives are integrated into day-to-day operations. * Educate and provide guidance to teams on ...

Baxter

PV Risk Management Specialist

Deerfield, IL · On-site

$112K - $154K/yr

We strive for efficient and effective operations, and we hold each other accountable for delivering ... Your role at Baxter As a Pharmacovigilance Risk Management Specialist , you will lead the ...

Level 10, LLC

Finance

Hoffman Estates, IL · On-site

Risk Management: Identifying, assessing, and mitigating financial risks (e.g., market risk, credit risk, operational risk) that could impact the organization's financial stability and objectives.

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Operational Risk Manager information

See Grayslake, IL salary details

$45.7K

$117.4K

$230.6K

How much do operational risk manager jobs pay per year?

As of Sep 13, 2026, the average yearly pay for operational risk manager in Grayslake, IL is $117,437.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,500.00 and $154,700.00 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.

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

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

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

Operational Risk Manager jobs near you
Infographic showing various Operational Risk Manager job openings in Grayslake, IL as of August 2026, with employment types broken down into 82% Full Time, 15% Part Time, 1% Contract, and 2% Nights. Highlights an 78% Physical, 2% Hybrid, and 20% Remote job distribution, with an average salary of $117,437 per year, or $56.5 per hour.

Business Risk & Control Manager - Consumer Deposits and Payments

Glenview, IL

Busey
See more jobs at Buseyexternal

$98K - $140K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 25 days ago

Job description

Position Summary

The Consumer Business Risk & Compliance Manager creates, facilitates, and executes risk and control frameworks within the Consumer Payments and Deposits departments of Busey Bank. This position serves as the business line subject matter expert for consumer-specific risks associated with both traditional Retail and digital banking products and processes. The Business Risk and Compliance Manger provides consultative advice across consumer banking processes end-to-end to minimize the bank's exposure to financial risk of loss, regulatory criticism, and reputational risk.Duties & Responsibilities
  • Assess existing controls frameworks throughout the consumer payments and deposits business lines - both front and back office - and provide recommendations for improvement when gaps or weaknesses are identified.
  • Provide guidance on control improvements to ensure control design objectives adequately mitigate risk in an operationally efficient manner.
  • Develop or enhance control testing standards and monitoring programs with business line staff to evaluate the design and operating effectiveness of controls.
  • Create and maintain reporting of testing results and other risk and compliance projects to keep business line staff and management apprised of risk management priorities and progress.
  • Support change management necessitated by 1) the impact of new legislation/regulations or 2) the introduction or modification of new products and services insofar as they relate to an existing controls framework or require the creation of new controls; assist business line staff in implementing monitoring programs to ensure new processes/controls are both effective and followed.
  • Function as a liaison between the second line of defense and the business to ensure coordination on consumer-related changes by translating the regulatory impact into the business lines' operations.
  • Support, track, review and/or validate the resolution of risk-related issues and findings to ensure root causes are addressed and post-remediation monitoring is implemented.
  • Support the facilitation of enterprise risk management programs within business lines such as risk assessments, root cause analysis, business resiliency, etc., to ensure specific regulatory obligations or operational risk issues are adhered to.
  • Participate in the interpretation of new legal and regulatory requirements, identify relevant requirements, and oversee implementation of these requirements, where appropriate.
Education & Experience

Knowledge of:

  • Strong oral and written communication skills; can adapt communication and presentation style to fit various audiences up, down and across the organization.
  • In-depth and up-to-date knowledge of consumer regulations and trends, which include small business protection regulations.
  • Design and documentation of procedures and controls that promote consistent and repeatable processes.
  • Products and services offered in both a traditional brick-and-mortar banking environment as well as a digital environment.

Ability to:

  • Develop new approaches and procedures for remediating a variety of issues and findings, including those involving lookback and customer restitution.
  • Develop testing and monitoring programs and related metrics to measure the effectiveness of business processes.
  • Problem-solve by making sound and timely recommendations or decisions to keep forward progress; is discerning and applies situational knowledge to determine appropriate action or escalation.
  • Identify process efficiency and automation opportunities to strengthen control effectiveness.
  • Establish and maintain collaborative partnerships at all levels throughout the organization; facilitate cooperation between process leaders when conflicting views and priorities arise.
  • Manage a department and team of associates.

Education and Training:

  • Bachelor's degree or the equivalent combination of education and experience; Business or Finance degree preferred.
  • 8-10 years' experience in financial services with an audit, risk management or compliance background and/or experience in consumer banking operations.
  • Large-bank experience (> $10B) strongly preferred.
  • Current Certified Regulatory Compliance Manager (CRCM) certification a plus.
  • Proficiency in Microsoft Office required, Smartsheet, PowerBi and other project and reporting tools preferred.

Compensation and Benefits

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range: $98,000 - $140,000/year)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit BuseyTotal Rewardsfor more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. VisitBusey.com/Careersto learn more about Busey's Equal Opportunity Employment.

Unsolicited Resumes

Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.

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