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Operational Risk Manager information

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$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 Zimmerman, MN is $125,983.00, 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 cities near Zimmerman, MN are hiring for Operational Risk Manager jobs? Cities near Zimmerman, MN with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Operational Manager / 245D Designated Manager

Operational Manager / 245D Designated Manager

Dungarvin

North Branch, MN

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 26 days ago

Dungarvin rating

6.5

Company rating: 6.5 out of 10

Based on 63 frontline employees who took The Breakroom Quiz

74th of 228 rated social care providers

Job description

Company Description

Embrace the opportunity to positively impact someone’s life! Join our team as an Operational Manager / 245D Designated Manager!

Job Description

The Operational Manager (OM) manages and oversees services, staff, and facilities, ensuring a high standard of care and seamless coordination of organizational services. You'll play a key role in upholding and promoting Dungarvin's mission, making a meaningful impact every day!

Perks/Benefits:
• Starting Salary $73,000.00 - $75,007.50 annually *Listed salary range is based on experience level and may vary depending on an individuals skills and qualifications.
• $5,000.00 retention bonus
• Medical, Vision and Dental Insurance for eligible employees
• Supplemental Insurance
• Flex Spending and HSA Accounts for eligible employees.
• Pet Insurance
• Life Insurance
• 401 K plan for eligible employees with a 3% company match vested at 1 year
• Paid Time Off
• PTO Donation
• Growth and Development Opportunities
• Employee Referral Program
• Scheduled pay increases
• Employee Assistance Program
• Dedicated training department with paid training

What You Get To Do:
Quality and Program Management: Oversee service quality, maintain regular contact with individuals served and their support networks, manage support plans, and address complaints. Ensure programs meet licensure and certification standards and conduct evaluations and audits.

Financial Management: Ensure programs meet financial targets, manage budgets, and address financial needs. Collaborate on budget development and manage accounts receivable and expenditures.

Personnel Management: Supervise program managers, oversee hiring, training, and performance evaluations, and manage staff schedules and payroll.

Residential programs: Ensure the maintenance and safety of facilities, comply with regulatory standards, and manage risk.

Professionalism and Leadership: Promote the organization's mission and values, represent the organization professionally, and participate in work groups and committees.

Qualifications

What Makes You A Great Fit:

  •  Must meet Designated Manager qualifications in accordance with the 245D requirements. https://www.revisor.mn.gov/statutes/cite/245D.081
  •  Bachelor's Degree in Human Service field and 2 years' experience in a related field
  •  Valid United States Driver’s License with acceptable motor vehicle background check per Dungarvin, Inc’s policy.
  •  Valid liability vehicle insurance with reliable transportation.
  •  Must demonstrate good decision-making, time management, communication skills, be responsible, flexible and have management experience.
  •  Prior experience in a residential program is preferred.

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Additional Information

We believe in supporting not only those we serve but also each other, ensuring a collaborative and supportive work environment for all. Dungarvin is an Equal Opportunity Employer and does not discriminate based on race, color, religion, sex, protected veteran status, disability, genetic information, national origin, age, gender identity, sexual orientation, or any legally protected status per federal and/or state law.

What Dungarvin employees say

Pay

Benefits

Hours and flexibility

Workplace

Get the full story on Breakroom

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About Dungarvin

Sourced by ZipRecruiter

Industry

Individual, family and community social assistance

Company size

5,001 - 10,000 Employees

Headquarters location

Mendota Heights, MN, US

Year founded

1976

Social media

Facebook

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