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Operational Risk Manager Jobs in Phoenix, AZ (NOW HIRING)

Okland Construction Co., Inc.

Risk Director

Phoenix, AZ · On-site

As Risk Director, you'll lead the enterprise-wide risk management program - from insurance strategy ... Operations, helping Okland proactively identify, mitigate, and manage risks across all areas of the ...

Northern Trust

Risk Treatment Specialist

Tempe, AZ · On-site

$108K - $185K/yr

Operational Risk, Financial Risk, Cyber Resilience, Cybersecurity, Risk Management, IT Risk and Control, and/or IT Audit * Strong working knowledge of the inherent risks in the financial services ...

Northern Trust

Risk Treatment Specialist

Tempe, AZ · On-site

$108K - $185K/yr

Operational Risk, Financial Risk, Cyber Resilience, Cybersecurity, Risk Management, IT Risk and Control, and/or IT Audit * Strong working knowledge of the inherent risks in the financial services ...

Northern Trust

Risk Treatment Specialist

Tempe, AZ · Hybrid

$108K - $185K/yr

Operational Risk, Financial Risk,Cyber Resilience, Cybersecurity, Risk Management, IT RiskandControl, and/or IT Audit * Strong working knowledge of theinherentrisksin the financial services industry

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All JobsOperational Risk Manager JobsOperational Risk Manager Jobs in Phoenix, AZ

Operational Risk Manager information

See Phoenix, AZ salary details

$46.7K

$119.8K

$235.3K

How much do operational risk manager jobs pay per year?

As of Jun 30, 2026, the average yearly pay for operational risk manager in Phoenix, AZ is $119,850.00, according to ZipRecruiter salary data. Most workers in this role earn between $73,000.00 and $157,900.00 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 popular job titles related to Operational Risk Manager jobs in Phoenix, AZ? For Operational Risk Manager jobs in Phoenix, AZ, the most frequently searched job titles are:
What job categories do people searching Operational Risk Manager jobs in Phoenix, AZ look for? The top searched job categories for Operational Risk Manager jobs in Phoenix, AZ are:
What cities near Phoenix, AZ are hiring for Operational Risk Manager jobs? Cities near Phoenix, AZ with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Infographic showing various Operational Risk Manager job openings in Phoenix, AZ as of June 2026, with employment types broken down into 1% As Needed, 70% Full Time, 26% Part Time, 1% Temporary, and 2% Contract. Highlights an 83% Physical, 3% Hybrid, and 14% Remote job distribution, with an average salary of $119,850 per year, or $57.6 per hour.
Risk Director

Risk Director

Okland Construction Co., Inc.

Phoenix, AZ • On-site

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 9 days ago

Key responsibilities

  • Lead the enterprise-wide risk management program, including insurance strategy, claims oversight, safety alignment, and contract risk allocation.

  • Track and manage all insurance claims and coordinate with adjusters, brokers, and insurers to ensure efficient resolution.

  • Identify, quantify, and monitor operational risks across safety, project delivery, subcontractor performance, and financial exposure.

Job description

Description
ABOUT US
At Okland, we exist to create remarkable experiences - not just through the projects we deliver, but in the way we show up for our clients, partners, and each other every day. We believe that how we build is just as important as what we build, and our purpose is rooted in people. Whether it's a trusted partner we've worked with for decades or a new team member stepping onto their first jobsite, we approach every relationship with care, clarity, and commitment.
We're a commercial general contractor and construction management company with more than 1,200 team members and a track record of delivering some of the most complex and high-profile projects in the country - from semiconductor and healthcare facilities to professional sports venues and high-end hospitality.
Founded in 1918 in Salt Lake City, we've grown steadily for over a century - now with offices in Utah, Arizona, and Idaho - and we're entering one of the most exciting chapters in our company's history. We're building more than projects. We're building careers, capabilities, and momentum for the future. And we're looking for passionate, driven people who want to be part of it.
ABOUT THIS OPPORTUNITY
If you're a strategic, detail-oriented risk professional who thrives on balancing financial insight with operational awareness, this role is for you. As Risk Director, you'll lead the enterprise-wide risk management program - from insurance strategy and claims oversight to safety alignment and contract risk allocation. You'll be a trusted advisor to Finance, Legal, and Operations, helping Okland proactively identify, mitigate, and manage risks across all areas of the business. This is a high-impact role for someone who loves building structure, shaping policy, and driving results that protect both people and performance.
YOUR DAY-TO-DAY
Financial Risk Management
  • Lead procurement and administration of corporate and project-specific insurance programs (GL, Builder's Risk, Professional Liability, Umbrella/Excess, Cyber, and OCIP/CCIP).
  • Collaborate with Finance and Legal to ensure proper risk transfer, coverage adequacy, and contractual compliance.
  • Oversee subcontractor and vendor Certificate of Insurance (COI) compliance and manage OCIP/CCIP enrollment.
  • Serve as the company's primary liaison with brokers, insurers, and third-party administrators.
  • Evaluate and improve risk allocation across contracts to align with business objectives.

Claims and Incident Management
  • Track and manage all insurance claims (general liability, builders risk, property, auto, and workers' compensation).
  • Coordinate with adjusters, brokers, and insurers to ensure efficient resolution.
  • Partner with field teams on incident documentation and claim preparation.
  • Escalate high-value or disputed claims in partnership with Legal.

Operational Risk Oversight
  • Identify, quantify, and monitor operational risks across safety, project delivery, subcontractor performance, and financial exposure.
  • Develop a "lessons learned" program to apply insights from claims and incidents to field operations.
  • Partner with Safety and Operations to implement data-driven risk reduction initiatives.
  • Lead enterprise-level emergency preparedness, business continuity, and crisis response efforts.

Leadership and Strategy
  • Establish KPIs and reporting dashboards to monitor risk trends and communicate insights to leadership.
  • Promote a proactive, risk-aware culture through education, communication, and cross-functional collaboration.
  • Partner with leaders to integrate risk strategy into business planning and decision-making.

YOU'RE READY FOR THIS ROLE IF YOU HAVE
  • A bachelor's degree in Risk Management, Business, Construction Management, Finance, or a related field.
  • 10+ years of progressive risk management experience within the construction or real estate development industry.
  • Deep knowledge of insurance programs relevant to large-scale commercial construction.
  • Proven ability to manage complex, cross-functional initiatives.
  • Familiarity with safety regulations, claims management, and risk control practices.
  • Professional designations such as ARM, CPCU, or CRIS.
  • Experience implementing or managing OCIP/CCIP programs.
  • Knowledge of construction contracts (AIA, ConsensusDocs).
  • Experience with risk analytics or insurance management systems.

WHAT WE OFFER
  • Award-winning culture - consistently recognized by Best Places to Work in Arizona, Utah, and Idaho.
  • Competitive pay - weekly paychecks, salary, bonus incentives, 401(k) with employer match.
  • Holistic benefits - Medical, Dental, Vision, Life & Disability Insurance; paid parental leave, financial literacy resources, and an Employee Assistance Program with legal and mental health support.
  • Perks - tenure awards including pro sports tickets, fitness memberships, travel vouchers, and paid work anniversary sabbaticals.
  • Award-winning work - our projects are consistently honored with recognitions from AIA, ENR, AGC, and more.

PHYSICAL ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, talk, and/or hear. The employee is frequently required to use hands to finger, handle or feel. The employee is occasionally required to reach with hands and arms, climb, balance, stoop, kneel, crouch, and/or crawl. The employee must occasionally lift and/or move up to 20 pounds. Specific vision abilities include close vision and color vision. The employee may also be required to inspect project sites and be exposed to ongoing construction and varying weather conditions. The noise level in the work environment may range from moderate to loud.
EEO STATEMENT
Okland is an equal opportunity employer and considers all applicants for employment based on merit, competence, performance, and business needs. We do not discriminate on the basis of any status protected under federal, state, or local law. Applicants will be considered regardless of their race, color, sex, gender identity or expression, age, religion, creed, national origin, citizenship status, sexual orientation, genetic information, physical or mental disability, military status, or any other characteristic protected under federal, state, or local law. In addition to complying with all applicable laws, Okland also has a strong corporate commitment to inclusion.
VISA AND SPONSORSHIP
Must be currently legally authorized to work in the U.S. without sponsorship for employment visa status (e.g., H1B Status, O-1, CPT, OPT, etc.). Unless specifically stated in this job posting, we are unable to sponsor or take over sponsorship of an employment visa at this time.

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