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Operational Risk Manager Jobs in Minneapolis, MN

Deloitte

Payments Fraud Manager 1

Minneapolis, MN

Payments Fraud Manager - Forensic Investigations and Fraud - Financial Services About Deloitte ... Advise on opportunities for process improvement and operational risk reduction. * Payments ...

Procare HR

Senior Manager, Workforce Risk

Minnetonka, MN · On-site +1

$120K/yr

Start a new career as a Senior Manager, Workforce Risk with Procare HR! At Procare HR, we're on a ... This role bridges legal obligations and business operations, helping clients confidently navigate ...

Procare HR

Senior Manager, Workforce Risk

Hopkins, MN · Remote

Start a new career as a Senior Manager, Workforce Risk with Procare HR! At Procare HR, we're on a ... This role bridges legal obligations and business operations, helping clients confidently navigate ...

Medica

Senior Director Risk Adjustment

Minnetonka, MN · On-site

... Risk Adjustment. This role drives sustained improvements in data collection, data processing ... role strengthens operational maturity, reduces rework, and enables proactive management of ...

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Operational Risk Manager information

See Minneapolis, MN salary details

$49.1K

$126K

$247.4K

How much do operational risk manager jobs pay per year?

As of Jun 13, 2026, the average yearly pay for operational risk manager in Minneapolis, MN is $125,992.00, according to ZipRecruiter salary data. Most workers in this role earn between $76,700.00 and $166,000.00 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 helps ensure organizational resilience and compliance.

What does an operational risk manager do?

An operational risk manager identifies, assesses, and mitigates risks that could disrupt a company's operations, such as process failures, fraud, or system outages. They develop risk management frameworks, monitor key risk indicators, and ensure compliance with regulations to protect the organization’s assets and reputation.

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 benefits. Certifications like FRM or ORM can enhance earning potential in this field.

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 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.

What are the 5 steps of orm?

In operational risk management (ORM), the five key steps are: identifying risks, assessing their likelihood and impact, implementing controls to mitigate risks, monitoring the effectiveness of these controls, and reviewing and improving the risk management process regularly. These steps help operational risk managers proactively manage potential threats to an organization’s operations.
More about Operational Risk Manager jobs
What are the most commonly searched types of Operational Risk jobs in Minneapolis, MN? The most popular types of Operational Risk jobs in Minneapolis, MN are:
What job categories do people searching Operational Risk Manager jobs in Minneapolis, MN look for? The top searched job categories for Operational Risk Manager jobs in Minneapolis, MN are:
What cities near Minneapolis, MN are hiring for Operational Risk Manager jobs? Cities near Minneapolis, MN with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Supervisory Risk Principal/Assistant Manager

Supervisory Risk Principal/Assistant Manager

Royal Bank of Canada

Minneapolis, MN • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 4 days ago

Job description

Job Description
What is the opportunity?
As a Supervisory Risk Principal/Assistant Manager you will be responsible for effectively supervising the daily, weekly, monthly and periodic business activities performed by FAs and support staff in the field as well as performing oversight of certain supervisory activities that will remain the responsibilities of complex/branch management.
What will you do?
  • Serve as direct supervisor relative to all sales, trade-related and non-trade related activities for RBC Advantage, Unclaimed Property, Corporate Executive Services and the International Foreign Business.
  • Such activities may include:
  • Review daily trade and periodic activity via the on-line trade blotter (ProSurv) and conduct necessary investigation and follow-up as warranted (including additional review for certain foreign accounts/jurisdictions and mailing of any required exonerating letters); review all related supervisory reports
  • Review and Approval of Trade Corrections (Cancel/Rebill and Errors)
  • Review and Approve any Trade Order Ticket/Syndicate Ticket for applicable business lines
  • Responsible for notifying DOL committee of any Self-Correction reporting.
  • Review and approve new accounts (and options) and account updates as well as related supervisory reports
  • Review & approve new Investment Advisory business and oversee the Investment Policy Monitoring.
  • Review Missing CIP Information Report and Mail/Image CIP Request letters- Feb/Jun/Oct
  • Review all daily, weekly & monthly Workflow and Postedge reports and maintain electronically
  • Review and maintain the UTMA/UGMA Minor over the Age of Custodial Termination Report
  • Open Order Review - Monthly Reminder Email
  • Respond to Margins Calls/Cash Calls/Money due notifications
  • Monitor and assist with the completion of Reg BI items
  • Review Undeliverable Mail Tracking log with focus on trade related items
  • Monitor Frozen Account Activity and take action on trades that need to be busted.
  • Perform account triage and in-depth analysis for monthly account reviews and work with Complex Directors to ensure client contact and action steps are completed and corrective action is implemented as warranted
  • Perform analysis on Inactive IAG accounts, work with complex management on a recommended course of action that confirms the client's best interests are being served
  • Supervise all employee-related activities specific to the employee's personal accounts, outside activities, private securities transactions etc.
  • Review all communications with the public (excluding e-communications) including advertisements, speaking engagements etc.
  • Assess risk in all areas of responsibility and escalate potential problems and concerns to the appropriate parties; monitor issue through resolution
  • Work with complex management on systemic weaknesses that pose risk to ensure corrective measures are implemented to improve behaviors
  • Lead internal review and analysis for material sales practice violations
  • Identify, propose and assist in the development of supervisory tools and procedures
  • Design, implement and track warning memos when necessary; work with compliance, the Complex Director and the Division on determining when such punitive measures should be imposed
  • Work with corporate and field personnel to investigate and resolve potential sales practice issues
  • Act as backup to CAM for Operational Workflow approvals (disbursement of funds, journal activity, ACH set up, etc.), cross complex check deposits and 2nd approvals for large or foreign currency wires.
  • Communicate policy & procedure changes and other issues that impact Financial Advisors and Client Associates to effectively perform their job.
  • Respond to requests throughout the day from complex employees and other departments within the firm (AML, Margins, IAG Surveillance, Legal)
  • Prepare and coordinate the annual compliance branch inspections. Create & implement an action plan to make necessary corrections to address deficiencies.
  • Ensure the firm's AML policy & procedures are followed and respond to the department's Enhanced Due Diligence, Client Due Diligence and surveillance requests.
  • Ensure all required documents are maintained and archived in the main complex office
  • Review and approve Foreign Account Paperwork for International Accounts
  • Stay abreast of various cross border rules with regard to new accounts & trade related activity
  • Ensure that complaints are escalated to Dispute Resolution in a timely manner
  • Maintain a high level of confidentiality in accordance with department, Firm and enterprise standards Serves as supervisory subject matter expert on firm initiatives; work with BSG leadership to design related supervisory procedures
  • Maintain a high level of knowledge on industry trends and areas of focus to ensure appropriate supervisory practices are in place

What do you need to succeed?
Must-have
  • 7-10 years of industry/industry related experience
  • 3-5 years of direct supervisory experience in a broker/dealer
  • Series 7, 63/66, 65 and Series 8 or 9/10 or equivalent combination. Other licenses may be required
  • Excellent understanding of the stock market, investments and investment programs
  • Comprehensive and in-depth knowledge of investment products and strategies and their suitability for clients based on investment objectives, risk tolerance and financials

What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
  • A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
  • Leaders who support your development through coaching and managing opportunities.
  • Ability to make a difference and lasting impact.
  • Work in a dynamic, collaborative, progressive, and high-performing team.
  • Opportunities to do challenging work.
  • Opportunities to build close relationships with clients.

The expected salary range for this particular position is $90,000-$160,000, depending on your experience, skills, and registration status, market conditions and business needs.
You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.
RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
  • Drives RBC's high-performance culture
  • Enables collective achievement of our strategic goals
  • Generates sustainable shareholder returns and above market shareholder value

Job Skills
Audits Compliance, Critical Thinking, Data Gathering Analysis, Decision Making, Detail-Oriented, Financial Regulation, Industry Knowledge, Interpersonal Relationship Management, Risk Management, Strategic Thinking
Additional Job Details
Address:
250 NICOLLET MALL:MINNEAPOLIS
City:
Minneapolis
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
WEALTH MANAGEMENT
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2026-06-09
Application Deadline:
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Our Employment Opportunities
At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.
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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.

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