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Senior Operational Risk Analyst Jobs in Niles, IL

William Blair

Risk Analyst

Chicago, IL · Hybrid

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/yr

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

SageSure, a leader in catastrophe-exposed property insurance, is seeking a Senior Catastrophe Risk Analyst. In this role, you'll play a critical part in advancing the scientific, statistical, and ...

Adyen

Senior Financial Risk Analyst

Chicago, IL · On-site

$125K - $170K/yr

Senior Financial Risk Analyst As a Senior Financial Risk Analyst located in Chicago, you will be part of a team of high-performing professionals that evaluates and manages financial risk (i.e ...

DV Trading

Credit Risk Manager

Chicago, IL

Co-Lead the Credit Risk Committee with the CFO and CRO by preparing materials that clearly communicate Counterparty and Credit Risk Analytics to senior management by building your own data, metrics ...

Adyen

Senior Financial Risk Analyst

Chicago, IL

$125K - $170K/yr

Senior Financial Risk Analyst As a Senior Financial Risk Analyst located in Chicago, you will be part of a team of high-performing professionals that evaluates and manages financial risk (i.e ...

DV Trading

Credit Risk Analyst

Chicago, IL

$150K - $200K/yr

DV is looking for a Credit Risk Analyst to lead its counterparty and credit risk management ... This role will partner closely with senior leadership to enhance the firm's credit risk framework ...

DV Trading

Credit Risk Analyst

Chicago, IL · On-site

$150K - $200K/yr

DV is looking for a Credit Risk Analyst to lead its counterparty and credit risk management ... This role will partner closely with senior leadership to enhance the firm's credit risk framework ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

Prepare reports and presentations for senior management, highlighting risk exposure and mitigation ... Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL · On-site

$72K - $90K/yr

Prepare reports and presentations for senior management, highlighting risk exposure and mitigation ... Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience ...

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All JobsOperational Risk Analyst JobsSenior Operational Risk Analyst JobsSenior Operational Risk Analyst Jobs in Niles, IL

Senior Operational Risk Analyst information

See Niles, IL salary details

$53.2K

$109.3K

$141.8K

How much do senior operational risk analyst jobs pay per year?

As of Aug 19, 2026, the average yearly pay for senior operational risk analyst in Niles, IL is $109,332.00, according to ZipRecruiter salary data. Most workers in this role earn between $90,100.00 and $136,400.00 per year, depending on experience, location, and employer.

What does a senior operational risk analyst do?

A Senior Operational Risk Analyst is responsible for identifying, assessing, and mitigating risks that could affect an organization’s operations. They analyze internal processes, monitor compliance with regulations, and develop strategies to minimize potential losses or disruptions. In this role, they collaborate with various departments to ensure effective risk management and provide recommendations for improving controls. Their expertise helps protect the organization from financial, reputational, and operational harm.

How does a senior operational risk analyst typically collaborate with other departments to identify and mitigate risks?

A Senior Operational Risk Analyst works closely with departments such as compliance, internal audit, IT, and business units to identify, assess, and monitor operational risks. This collaboration often involves regular meetings, risk workshops, and sharing of data or incident reports to ensure all potential risks are captured and managed effectively. The analyst also helps develop and implement risk mitigation strategies, offering guidance and training to staff across teams. Effective communication and relationship-building are essential, as the role often requires balancing diverse perspectives to support the organization's risk management objectives.

What are the key skills and qualifications needed to thrive as a senior operational risk analyst, and why are they important?

A Senior Operational Risk Analyst must have strong analytical skills, in-depth knowledge of risk management frameworks, and a relevant degree such as finance, business, or risk management. Proficiency with risk assessment software, data analytics tools (like SAS or Excel), and certifications such as FRM or ORM are commonly required. Outstanding communication, attention to detail, and problem-solving abilities help them collaborate effectively and deliver actionable insights. These skills ensure accurate risk identification, effective mitigation strategies, and compliance with regulatory standards.

What is the difference between Senior Operational Risk Analyst vs Operational Risk Analyst?

AspectSenior Operational Risk AnalystOperational Risk Analyst
Required CredentialsBachelor's degree, professional certifications (e.g., ORM, FRM)Bachelor's degree, some certifications preferred
Work EnvironmentFinancial institutions, large corporations, risk management teamsFinancial firms, banks, insurance companies
Employer & Industry UsageUsed in senior roles within risk departmentsEntry to mid-level roles in risk management
Common Search & ComparisonOften compared for career progressionBase role for operational risk careers

The main difference between a Senior Operational Risk Analyst and an Operational Risk Analyst lies in experience, responsibilities, and seniority. The senior role typically involves more complex risk assessments, leadership, and strategic input, while the operational risk analyst focuses on data collection, analysis, and supporting risk management processes. Both roles are essential in financial and corporate sectors, with the senior position representing a step up in expertise and scope.

What cities near Niles, IL are hiring for Senior Operational Risk Analyst jobs?

Cities near Niles, IL with the most Senior Operational Risk Analyst job openings:

Senior Operational Risk Analyst jobs near you
Infographic showing various Senior Operational Risk Analyst job openings in Niles, IL as of August 2026, with employment types broken down into 81% Full Time, 17% Part Time, and 2% Contract. Highlights an 93% Physical, 3% Hybrid, and 4% Remote job distribution, with an average salary of $109,332 per year, or $52.6 per hour.

Senior Operational Risk Testing Officer

Bank of Montreal

Chicago, IL • On-site

Full-time

Medical, Life, Retirement

Posted 15 days ago

Job description

Application Deadline:
08/19/2026
Address:
320 S Canal Street
Job Family Group:
Audit, Risk & Compliance
The Centralized Testing Team is a 2nd Line of Defense role responsible for the development, management, and execution of formal testing, monitoring, quality assurance, and review of the 1st and 2nd Line activities to assess the effectiveness of the control environment and program adherence to the bank's governance frameworks. This position will develop testing plans, test scripts, execute testing at both the transversal bank level and within specific business units, report on test results, recommend actions on any gaps identified and work with the Bank Groups to ensure remediation of those gaps.
Key Responsibilities:
  • Design and develop testing strategies and methodologies to assess the effectiveness of the Bank's control environment.
  • Execute independent testing across the organization from both a Transversal and Business Unit perspective.
  • Determine testing samples by performing in-depth risk-based analysis of the Domains.
  • Identify issues and develop recommendations to address any gaps during the test execution. Work with issue owners to develop Management Action Plans and work with the identified owners to remediate such gaps through closure.
  • Ensure implementation of consistent control frameworks across the enterprise.
  • Assess complex monitoring activities associated with the control frameworks. Ensure activities are performed accurately, thoroughly, and in accordance with dynamic regulatory, operational risk requirements, and/or industry best practices, and activities meet timeframe standards.
  • Act as a Subject Matter Expert around the Bank's Control Frameworks
  • Build effective professional relationships with business group, internal/external stakeholders and trust with regulators.
  • Works independently and regularly handles non-routine situations.

Additional Responsibilities:
  • Provides advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
  • Identifies and advises on emerging issues and trends to inform decision-making.
  • Analyses and reports on compliance data, and related data to gain insights on regulatory risk.
  • Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
  • Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
  • Supports root cause analysis in response to material control failures in business/group.
  • Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.
  • Analyzes and reports compliance information to Compliance and business/group management.
  • Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
  • Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.
  • Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
  • Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.
  • Provides specialized consulting, analytical and technical support.
  • Exercises judgment to identify, diagnose, and solve problems within given rules.
  • Broader work or accountabilities may be assigned as needed.

Qualifications:
  • Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience. Masters preferred.
  • In-depth knowledge and experience in Operational Risk Management in a Financial Institution.
  • Industry Certification preferred
  • Ability to run data analytics in Excel and extrapolate meaningful analysis.
  • Strong independent testing skills.
  • Strong relationship building skills to work with key stakeholders at all levels of the organization.
  • In-depth knowledge of the organization's control frameworks.
  • Knowledge of testing methodologies.
  • Ability to work independently under tight time constraints with minimal need for oversight and peer review to ensure adherence to the control framework.
  • Ability to simultaneously manage multiple high priority projects.
  • Must be able to quickly grasp complex strategies.
  • Mastery of the Microsoft Suite of products including, Power Point, Word, and Excel
  • Strong communication, critical thinking, relationship management and project management skills.
  • Verbal and written communication skills - In-depth
  • Collaboration and team skills - In-depth
  • Analytical and problem-solving skills - In-depth
  • Influence skills - In-depth
  • Data driven decision making - In-depth.

Salary:
$81,400.00 - $151,800.00
Pay Type:
Salaried
The above represents BMO Financial Group's pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.
BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.
To find out more visit us at http://jobs.bmo.com/us/en
BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.
BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
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About BMO

Sourced by ZipRecruiter

BMO, or Bank of Montreal, is one of the biggest multinational banking and financial services corporations in North America. Developed in 1817, BMO's American headquarters are located ideally in Chicago, Illinois while its main world headquarters are situated in Montreal. The bank operates in a multitude of sectors including personal and commercial banking, wealth management and investment banking products and solutions. Over the years, BMO has been recognized for its commitment to doing what's right for its customers, employees, and society.

Industry

Banking and credit intermediation

Company size

5,001 - 10,000 Employees

Headquarters location

Chicago, IL, US

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