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Operational Risk Jobs in Illinois (NOW HIRING)

Servbank

AVP, Banking Risk & Controls

Watseka, IL · On-site

$94K - $110K/yr

This role provides oversight for operational risk and control testing of deposit-related processes and monitors the capacity and scheduling calendar for the Banking Risk function. The AVP of Banking ...

Servbank

AVP, Banking Risk & Controls

Danville, IL · On-site

$94K - $110K/yr

This role provides oversight for operational risk and control testing of deposit-related processes and monitors the capacity and scheduling calendar for the Banking Risk function. The AVP of Banking ...

Servbank

AVP, Banking Risk & Controls

Oswego, IL · On-site

$94K - $110K/yr

This role provides oversight for operational risk and control testing of deposit-related processes and monitors the capacity and scheduling calendar for the Banking Risk function. The AVP of Banking ...

Servbank

AVP, Banking Risk & Controls

Watseka, IL · On-site

$94K - $110K/yr

This role provides oversight for operational risk and control testing of deposit-related processes and monitors the capacity and scheduling calendar for the Banking Risk function. The AVP of Banking ...

Early Warning Services

IT Risk Manager

Chicago, IL · Hybrid

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Build and manage the business line's centralized LOD1 function; act as business-line liaison to Enterprise Risk Management, Operational Risk Management, and Compliance in support of the company ...

IMC

Experienced Risk Manager

Chicago, IL · On-site

Our team has a broad mandate across market, credit, capital, and operational risk. Rather than assigning rigid responsibilities, we encourage people to contribute wherever they can have the greatest ...

Epitec

Risk Manager - US

Chicago, IL · On-site

$78 - $82/hr

Collaborate with EHS, Operations, Legal, HR, and Finance teams to implement loss prevention and risk reduction initiatives. * Monitor claim trends, loss data, and Total Cost of Risk (TCOR) metrics to ...

Altorfer CAT

Director of Safety & Risk Management

East Peoria, IL

$95K - $140K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Identify and reduce safety, operational, environmental, fleet, property, regulatory, and reputational risk. * Compliance: Ensure compliance with OSHA, DOT, EPA, MSHA, and applicable state safety and ...

Altorfer CAT

Director of Safety & Risk Management

Addison, IL · On-site

$95K - $140K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Identify and reduce safety, operational, environmental, fleet, property, regulatory, and reputational risk. * Compliance: Ensure compliance with OSHA, DOT, EPA, MSHA, and applicable state safety and ...

TIAA

Sr Associate Business Risk and Controls

Chicago, IL · On-site

$76K - $103K/yr

  • Medical

  • Life

  • Retirement

Manage and oversee operational risk across multiple business units and asset classes, ensuring that the right controls are in place to safeguard client assets and support business objectives

Niemann Foods

Risk & Loss Prevention Analyst

Quincy, IL

$60K - $90K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

This role collaborates with Finance, Operations, HR and IT, ensuring strong internal controls, standardized processes, and data-driven risk mitigation strategies across all locations and formats. The ...

Niemann Foods

Risk & Loss Prevention Analyst

Quincy, IL · On-site

$60K - $90K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

This role collaborates with Finance, Operations, HR and IT, ensuring strong internal controls, standardized processes, and data-driven risk mitigation strategies across all locations and formats. The ...

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Showing results 41-60

All JobsOperational Risk JobsOperational Risk Jobs in Illinois

Operational Risk information

See Illinois salary details

$37.8K

$83.2K

$150.2K

How much do operational risk jobs pay per year?

As of Aug 15, 2026, the average yearly pay for operational risk in Illinois is $83,181.00, according to ZipRecruiter salary data. Most workers in this role earn between $63,500.00 and $101,300.00 per year, depending on experience, location, and employer.

How does an operational risk professional typically interact with other departments within an organization?

Operational Risk professionals work closely with a variety of teams, such as compliance, internal audit, IT, and business units, to identify and assess risks that could impact the organization's operations. They often facilitate risk assessments, lead training sessions on risk awareness, and collaborate on developing controls and mitigation strategies. Building strong relationships and communicating effectively across departments is essential, as much of the role involves influencing others and ensuring risk management practices are integrated into daily operations.

What is operational risk?

Operational risk refers to the potential for losses resulting from inadequate or failed internal processes, people, systems, or external events. Unlike credit or market risk, operational risk is related to the day-to-day operations of a business and can include issues such as fraud, system failures, natural disasters, or human error. Managing operational risk is essential for organizations to ensure business continuity, regulatory compliance, and to protect their reputation and assets.

What is the difference between Operational Risk vs Credit Analyst?

AspectOperational RiskCredit Analyst
Required CredentialsCertifications like FRM, PRM often preferredCertifications such as CFA, credit-specific courses
Work EnvironmentBanking, financial institutions, risk management departmentsBanking, lending institutions, financial services
Employer & Industry UsageUsed across financial sectors to manage risksUsed in lending to assess creditworthiness
Comparison Search IntentUnderstanding risk management rolesAssessing credit risk and loan eligibility

Operational Risk focuses on identifying and mitigating risks within business operations, including processes, systems, and people. Credit Analysts evaluate the creditworthiness of individuals or companies to determine loan eligibility. While both roles are within the financial industry, Operational Risk professionals concentrate on risk management frameworks, whereas Credit Analysts focus on credit assessment and lending decisions.

What are the key skills and qualifications needed to thrive as an operational risk professional, and why are they important?

To thrive as an Operational Risk professional, you need strong analytical skills, risk assessment expertise, and a background in finance, business, or risk management, often supported by relevant certifications such as FRM or ORM. Familiarity with risk management frameworks, data analysis tools, and governance, risk, and compliance (GRC) systems is typically required. Exceptional communication, attention to detail, and problem-solving abilities are crucial soft skills for identifying risks and collaborating across departments. These skills ensure that operational risks are effectively identified, assessed, and mitigated, protecting the organization from potential losses and regulatory issues.

What are the most commonly searched types of Operational Risk jobs in Illinois?

The most popular types of Operational Risk jobs in Illinois are:

What are popular job titles related to Operational Risk jobs in Illinois?

For Operational Risk jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Operational Risk jobs in Illinois look for?

The top searched job categories for Operational Risk jobs in Illinois are:

Operational Risk jobs near you
Infographic showing various Operational Risk job openings in Illinois as of July 2026, with employment types broken down into 79% Full Time, 16% Part Time, 3% Temporary, and 2% Contract. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution, with an average salary of $83,181 per year, or $40 per hour.

AVP, Banking Risk & Controls

Servbank

Watseka, IL • On-site

$94K - $110K/yr

Full-time

Re-posted 16 days ago

Job description

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with the Servbank BSA team. This role provides oversight for operational risk and control testing of deposit-related processes and monitors the capacity and scheduling calendar for the Banking Risk function. The AVP of Banking Risk collaborates with Deposit Operations, BSA, and other Lines of Defense to identify and mitigate risks, enhance operational resilience, and promote control effectiveness. The role assists in the testing of risk-mitigating controls, supports enterprise risk reporting, and ensures strong governance over BAU activities and operational initiatives. The AVP ensures the ongoing testing schedule is executed by analyzing capacity and assigning responsibilities aligned with departmental priorities, as directed by the SVP of Enterprise Risk.
About Servbank:
Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service. We work with individuals, businesses, and communities, so that whether you're a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals. Come create excellence with Servbank.
Duties and Responsibilities:
  • Oversee functions within Banking Risk for Deposit Operations, including completion of required monthly KPI metric tracking scorecards.
  • Develop, implement, and oversee risk management processes to test in-line QA control effectiveness across Commercial and Consumer Deposit Operations. Evaluate risks of key control deficiencies and effectiveness of the overall control framework, and ensure management maintains timely and effective remediation plans.
  • Partner with Line of Business and BSA leadership to enhance internal testing processes and minimize defects across deposit-related activities.
  • Assist Senior Management, Risk Committee, and other Lines of and other Lines of Defense in developing methodologies used to assess and rank risk controls within Deposit Operations.
  • Deliver risk-related findings to the Risk Committee and other governance forums, including recommended corrective actions and implementation timelines.
  • Develop and maintain processes to test transactional, operational, and BSA-related controls within Deposit Operations to ensure adherence to regulatory requirements, internal policies, and business expectations. Oversee effectiveness testing and required retesting.
  • Develop, maintain, and report on testing programs covering deposit account lifecycle activities (e.g., onboarding, maintenance, transactions, exceptions handling). Establish benchmarks, testing methodologies, and partner with LOBs and Learning & Development to drive continuous improvement.
  • Develop corporate compliance and operational risk strategies by analyzing internal testing results, regulatory guidance, and external industry trends.
  • Assist in developing procedures that minimize operational, regulatory, and financial risk exposure.
  • Provide operational and regulatory research to management, including interpretation of applicable banking and BSA/AML requirements.
  • Interact and communicate with federal and state regulators, and support exam readiness to ensure appropriate controls, documentation, and reporting are in place.
  • Guide resolution of findings through the Issues Management program, including assignment of ownership and oversight of post-remediation validation testing.
  • Assist Learning & Development, Lines of Business, and other Lines of Defense in developing training programs, policies, and procedures related to deposit operations and BSA controls.
  • Maintain current knowledge of regulatory changes and assess impacts to Deposit Operations and associated control environments.
  • Provide monthly oversight for completion and reporting of all Banking Risk & Controls testing activities for Deposit Operations.
  • Provide monthly reporting to Risk Committee on systemic issues, emerging risks, and control effectiveness trends across Deposit Operations and BSA-related processes.
  • Oversee reporting of internal and external findings related to Deposit Operations, including tracking, escalation, and resolution status.
  • Ensure adherence to scheduled and risk-based testing calendars.
  • Oversee assignment and completion of required training for team members and relevant stakeholders.
  • Assist other Lines of Defense in performing risk assessments across Deposit Operations and ensure timely documentation and governance within the Risk Management platform.
  • Other duties as assigned.

Requirements
  • Experience in banking and deposit operations, consumer lending, commercial lending, commercial loan servicing, or commercial banking.
  • Background in an Operations, Risk Management, Compliance, BSA/AML, or Internal Audit role within a financial institution.
  • Degree in Finance, Accounting, Business Law, or equivalent mortgage servicing and banking operations knowledge.
  • Minimum 5 years of experience in mortgage banking or mortgage servicing with an emphasis in risk management, internal audit, or compliance within the financial services industry. Prior leadership experience is preferred.
  • Comprehensive knowledge of risk management frameworks, banking regulations, lending/servicing guidelines, internal controls, and regulatory compliance requirements.
  • Knowledge of federal and state laws, government regulations, and agency requirements, including but not limited to BSA/AML, RESPA, TILA, UDAAP, Gramm-Leach-Bliley, COSO, FTC, FFIEC, and OCC.
  • Prior experience working with Fiserv products.
  • Knowledge of business and management principles related to strategic planning, resource allocation, leadership, and the coordination of teams across multiple branch and remote locations.
  • Proficiency with risk management, auditing, and reporting tools and software.
  • Strong analytical, investigative, problem-solving, organizational, and project management skills, with the ability to manage multiple priorities, work independently, collaborate across departments, and maintain strict confidentiality.
  • Excellent written, verbal, and interpersonal communication skills.

EEO Statement: We're an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
Salary Description
$94.8k to $110.9k

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