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Operational Risk Jobs in Phoenix, AZ (NOW HIRING)

Early Warning Services

IT Risk Manager

Scottsdale, AZ · Hybrid

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 ...

MUFG

Operational & Compliance Data Analyst

Tempe, AZ · Hybrid

$78K - $106K/yr

We seek a candidate with risk background, preferably operational risk or compliance risk domain expertise with understanding of how risks are identified, measured, governed, and reported across the ...

OMC

Risk Director

Phoenix, AZ

Operational Risk Oversight * Identify, quantify, and monitor operational risks across safety, project delivery, subcontractor performance, and financial exposure. * Develop a "lessons learned ...

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Operational Risk information

See Phoenix, AZ salary details

$38.7K

$85.2K

$153.9K

How much do operational risk jobs pay per year?

As of Jun 9, 2026, the average yearly pay for operational risk in Phoenix, AZ is $85,231.00, according to ZipRecruiter salary data. Most workers in this role earn between $65,000.00 and $103,800.00 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 Phoenix, AZ? The most popular types of Operational Risk jobs in Phoenix, AZ are:
What are popular job titles related to Operational Risk jobs in Phoenix, AZ? For Operational Risk jobs in Phoenix, AZ, the most frequently searched job titles are:
What job categories do people searching Operational Risk jobs in Phoenix, AZ look for? The top searched job categories for Operational Risk jobs in Phoenix, AZ are:
Operational Risk jobs near you
Infographic showing various Operational Risk job openings in Phoenix, AZ as of May 2026, with employment types broken down into 100% Full Time. Highlights an 50% In-person, and 50% Hybrid job distribution, with an average salary of $85,231 per year, or $41 per hour.
Enterprise Risk Management (ERM) Operational Risk Director

Enterprise Risk Management (ERM) Operational Risk Director

Western Alliance Bancorporation

Phoenix, AZ • On-site

Full-time

Medical, Dental, Retirement

Posted 4 days ago

Job description

Job Title:
Enterprise Risk Management (ERM) Operational Risk Director
Location:
CityScape
What you'll do:
As an ERM Operational Risk Director you will lead a team that develops and implements programs to identify, measure, monitor, and control risks throughout the organization. You'll play a key role in the Bank's Enterprise and Operational Risk Management Team, who is responsible for several enterprise-wide programs, including Risk and Control Self-Assessment (RCSA), Operational Loss, Controls Testing, Operational Risk Issues and Key Risk Indicators (KRI).
  • The Operational Risk Director will be responsible for overseeing a team that develops and executes the RCSA and Operational Loss programs, including methodology, policies and standards, reporting, training, and continuous improvement.
  • Oversee execution and enhancement of the RCSA Program, including maintaining standards for risk identification and effective challenge, maintaining the bank's risk taxonomy, and managing technology used to execute the RCSA program.
    Collaborate across the three lines of defense to ensure adherence to RCSA Program requirements.
    Develop executive level reporting to track execution and to aggregate RCSA results for management and the Board.
  • Oversee the operational risk scenario analysis for use in the Capital Stress Tests.
  • Develop and oversee a bank-wide Operational Loss Program, including creation of standards, partnering with the 1LOD for successful program adoption, providing effective challenge, and creation of reporting.
  • Perform operational risk effective challenge over various programs including issues, KRIs, RCSAs, and operational losses.
  • Manage a medium to large team (6-16) and help develop, train, and drive continuous improvement.

What you'll need:
  • 10+ years related experience in Risk Management, Internal Audit, SOX, and Financial Institutions.
  • Bachelor's degree in related field required. Masters or MBA in related field preferred
  • Previous leadership experience required.
  • Advanced to expert knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
  • Advanced to expert knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
  • Advanced to expert knowledge of industry and professional experience across one or more of the three lines of defense (e.g., banking operations, information technology, SOX, compliance, risk management, audit).
  • Advanced to expert knowledge and experience with risk and control frameworks (COSO ERM Framework, Basel etc)
  • Advanced to expert knowledge of risk management tools and systems and advanced proficiency in Microsoft Office Suite (Word, Excel, and PowerPoint).
  • Advanced to expert technical knowledge of risk frameworks and industry best practices.
  • Advanced to expert experience with developing KRIs, enterprise Issue Management, risk and controls, within a financial services company.
  • Expert speaking and writing communication skills.
  • Professional certification or advanced degree in Risk Management, Accounting, Banking, Legal, or associated field of study preferred.

Benefits you'll love:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!
About the company:
Western Alliance Bank, Member FDIC, is a wholly owned subsidiary of Western Alliance Bancorporation. Serving clients nationwide, Western Alliance Bank includes six legacy bank brands - Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank - that remain part of the company's heritage, as well as AmeriHome Mortgage, a Western Alliance Bank Company.
Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.
© Western Alliance Bancorporation

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