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Operational Risk Manager Jobs in Summit, NJ (NOW HIRING)

Premium Technology

Operational Risk VP

New York, NY

The incumbent will be responsible for the oversight of the operational risk management framework and program including IT risk management, business continuity planning. The VP will be responsible for ...

Betterment

Risk Manager

New York, NY · Hybrid

$140K - $155K/yr

The team partners closely with Engineering and with other risk disciplines including Security, Compliance, Legal, and Operations. As a Risk Manager, you will own a portfolio of risk processes ...

Betterment

Risk Manager

New York, NY · On-site

$140K - $155K/yr

The team partners closely with Engineering and with other risk disciplines including Security, Compliance, Legal, and Operations. As a Risk Manager, you will own a portfolio of risk processes ...

Jump Trading

Risk Manager | Equities

New York, NY

The department manages moment-to-moment risk for all trading teams and is responsible for ... Serve as the NYC go-to operational risk partner: set and monitor exposure limits and guardrails ...

Jump Trading

Risk Manager | Equities

New York, NY · On-site

$150K - $200K/yr

The department manages moment-to-moment risk for all trading teams and is responsible for ... Serve as the NYC go-to operational risk partner: set and monitor exposure limits and guardrails ...

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Operational Risk Manager information

See Summit, NJ salary details

$49.9K

$128.3K

$251.8K

How much do operational risk manager jobs pay per year?

As of Jul 23, 2026, the average yearly pay for operational risk manager in Summit, NJ is $128,261.00, according to ZipRecruiter salary data. Most workers in this role earn between $78,100.00 and $169,000.00 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 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
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What cities near Summit, NJ are hiring for Operational Risk Manager jobs? Cities near Summit, NJ with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Operational Risk VP

Operational Risk VP

Premium Technology

New York, NY

Full-time

Posted 17 days ago

Job description

Company Description

A Major International Bank in Midtown Manhattan is seeking Operational Risk VP in their HQ NYC office.

 

Job Description

The incumbent will be responsible for the oversight of the operational risk management framework and program including IT risk management, business continuity planning.

The VP will be responsible for training staff to carry out all necessary functions within operational risk management and work closely with all line managers to facilitate the coordination of risk management activities across businesses.

The VP will be responsible for developing and implementing a companywide risk governance framework and supervising the business continuity program.

The incumbent will oversee operational risk management in the company; s/he will develop, enhance and implement the definitions, communication and training on risk management processes, including IT risk management and tools to enable consistent assessment, monitoring and reporting of risks.


Qualifications

We are looking for someone with at least 10 years of working experience, at least 5-7 years of demonstrated experience in operational risk management/enterprise risk management in large banks.

A Bachelor's degree or above (Master's preferred) is required, CFA/FRM is preferred. Communication and coordination skills and problem solving abilities are required.

Bilingual abilities preferred.

Additional Information

All your information will be kept confidential according to EEO guidelines.

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