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Operational Risk Manager Jobs in Malden, MA (NOW HIRING)

Ameriprise Financial

Investment Risk Analyst

Boston, MA · On-site

$87K - $120K/yr

Review risk reports, communicate findings and raise observations to senior risk managers and ... Group Business Support & Operations Line of Business AMINV US Asset Management Columbia ...

Pwc

Data Validation Risk - Manager

Boston, MA · On-site

$99K - $232K/yr

... Risk Manager, you will play a pivotal role within our Risk & Regulatory practice, focusing on ... operations, and achieving strategic goals. As a Manager, you will lead teams and manage client ...

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Operational Risk Manager information

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$49K

$125.9K

$247.2K

How much do operational risk manager jobs pay per year?

As of Jul 13, 2026, the average yearly pay for operational risk manager in Malden, MA is $125,890.00, according to ZipRecruiter salary data. Most workers in this role earn between $76,700.00 and $165,800.00 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 the most commonly searched types of Operational Risk jobs in Malden, MA? The most popular types of Operational Risk jobs in Malden, MA are:
What job categories do people searching Operational Risk Manager jobs in Malden, MA look for? The top searched job categories for Operational Risk Manager jobs in Malden, MA are:
What cities near Malden, MA are hiring for Operational Risk Manager jobs? Cities near Malden, MA with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Quantitative Risk Analyst, Model Risk Management, Assistant Vice President

Quantitative Risk Analyst, Model Risk Management, Assistant Vice President

State Street Corporation

Boston, MA • On-site

$90K - $157K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 18 days ago

Job description

JOB DESCRIPTION
State Street Investment Management (State Street IM) Model Risk Management (MRM) function is seeking a Quantitative Risk Analyst to join its State Street IM Model Validation team based in Boston, MA. The Quantitative Risk Analyst will conduct model validation to ensure model risks are correctly identified, assessed, and managed across the global asset management business. Diverse product knowledge including index products, ETFs, responsible investing as well as experience in the general risk areas covering credit, liquidity, market and operational risk, securities finance, asset management, and stress testing is important.
Specific tasks performed during model reviews include:
  • Review the model workflow and identify gaps in model methodology, development, implementation, and usage process and documentation
  • Challenge the model methodology by testing its assumptions and parameters; independently evaluate model performance and perform benchmarking; suggest areas for improvement
  • Collaborate with portfolio managers, traders, researchers, model developers, IT, and Corporate Model Risk Management to conduct independent validation as well as annual reviews of models supporting State Street IM business and company-wide strategic initiatives
  • Review and assess model changes and conduct targeted validation on significant model changes
  • Evaluate remediation submissions and ongoing monitoring of models
  • Identify, assess, and report model risks on individual model and aggregate level to management through validation reports and other MRM reporting

Job Qualifications:
  • MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or related field
  • Excellent quantitative modeling, analytical, research, and programming skills (e.g., R, Python, MATLAB, SQL)
  • Deep knowledge of economic theory and empirical finance across a broad range of products and asset classes
  • Strong understanding of the asset management business and its modeling philosophy, including factor models
  • Proven ability to leverage LLMs/GenAI or their applications in day-to-day work and model review activities
  • Solid understanding of Model Risk Management Framework including SR 11-7 and other regulatory guidance related to the model risk management
  • Strong written and verbal communication skills
  • Strong project management skills exemplified by the ability to work independently on multiple projects and meet deadlines

Salary Range:
$90,000 - $157,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
Discover more information on jobs at StateStreet.com/careers
Read our CEO Statement
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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About State Street

Sourced by ZipRecruiter

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

Boston, MA, US

Year founded

1792

Social media

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