ZipRecruiter

Log In

1

Vice President Operational Risk Management Jobs in Chicago, IL

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Provide independent model risk management and support for the VP of Model Risk as follows: Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Provide independent model risk management and support for the VP of Model Risk as follows: Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric ...

next page

Showing results 1-20

All JobsVice President Operational Risk Management JobsVice President Operational Risk Management Jobs in Chicago, IL

Vice President Operational Risk Management information

See Chicago, IL salary details

$70.6K

$160.5K

$272K

How much do vice president operational risk management jobs pay per year?

As of Jul 26, 2026, the average yearly pay for vice president operational risk management in Chicago, IL is $160,476.00, according to ZipRecruiter salary data. Most workers in this role earn between $119,000.00 and $190,600.00 per year, depending on experience, location, and employer.

How much does a VP of risk management make?

A Vice President of Operational Risk Management typically earns between $120,000 and $200,000 annually, with total compensation often including bonuses and benefits. Salaries vary based on industry, company size, location, and experience, and the role requires strong analytical skills and risk assessment expertise.

What are some common challenges faced by a Vice President of Operational Risk Management, and how are they typically addressed?

A Vice President of Operational Risk Management often faces the challenge of balancing risk mitigation with business objectives, especially in rapidly changing regulatory environments. They must ensure that risk management frameworks are robust yet adaptable, and that teams across the organization are aligned in their understanding and implementation of risk controls. Collaboration with business units, compliance, and internal audit is essential to proactively identify and address potential risks. Regular training, strong communication, and fostering a risk-aware culture help address these challenges and drive continuous improvement.

What does a Vice President of Operational Risk Management do?

A Vice President of Operational Risk Management is responsible for identifying, assessing, and mitigating risks that could impact the operations of an organization. They develop risk management strategies, establish policies and procedures, and ensure compliance with relevant regulations. This role involves collaborating with various departments to promote a risk-aware culture and to implement effective risk controls. Additionally, they often oversee risk assessments, incident investigations, and the reporting of risk exposures to senior leadership.

What are the key skills and qualifications needed to thrive as a Vice President of Operational Risk Management, and why are they important?

To thrive as a Vice President of Operational Risk Management, you need deep expertise in risk assessment, regulatory compliance, and business process analysis, typically supported by a bachelor’s or master’s degree in finance, risk management, or a related field. Familiarity with risk management frameworks (such as COSO and ISO 31000), governance tools, and certifications like FRM or ORM are highly valuable. Exceptional communication, leadership, and critical thinking skills help effectively guide teams and influence organizational culture. These competencies are crucial to proactively identifying, assessing, and mitigating operational risks that could impact an organization’s performance and reputation.

What is the salary of VP risk?

The salary of a Vice President in Operational Risk Management typically ranges from $120,000 to $200,000 annually, depending on the industry, location, and experience level. Senior VPs or those in major financial centers may earn higher compensation, often supplemented with bonuses and benefits. Certifications like FRM or ORM can also influence salary levels.

What does a VP of risk management do?

A Vice President of Risk Management oversees an organization's strategies to identify, assess, and mitigate operational risks. They develop policies, implement risk controls, and collaborate with other departments to ensure compliance and minimize potential losses, often using risk management tools and data analysis. This role requires strong leadership, industry knowledge, and often relevant certifications such as FRM or CRM.

What is the difference between Vice President Operational Risk Management vs Risk Manager?

AspectVice President Operational Risk ManagementRisk Manager
CredentialsAdvanced degrees (MBA, Risk Management certifications)Bachelor's or Master's in related fields, certifications like CRM or FRM
Work EnvironmentStrategic leadership, executive meetings, policy developmentOperational risk assessments, reporting, and implementation
Employer & Industry UsageFinancial institutions, large corporations, bankingFinancial services, insurance, corporate risk departments

The Vice President of Operational Risk Management typically oversees risk strategies at an executive level, focusing on policy and strategic risk mitigation. In contrast, Risk Managers handle day-to-day risk assessments and operational controls. Both roles require risk management credentials and are vital in financial and corporate sectors, but the VP role involves higher-level decision-making and leadership responsibilities.

Vice President Operational Risk Management jobs near you
Vice President, Operational Risk Management

Vice President, Operational Risk Management

Golub Capital

Chicago, IL • On-site

Full-time

Retirement, PTO

Posted 18 days ago

Job description

Position Information
Hiring Manager:
Associate Director
Department:
Operational Risk Management
Department Overview
The Operational Risk Management ("ORM") Department is responsible for the Risk Mitigation Framework. The Risk Mitigation Framework provides the process, tools and approach that are needed to support and enhance the control environment required to minimize operational risks related to Golub Capital's non-investment functions. The Risk Mitigation Framework was created to minimize material losses, provide process and internal control oversight, and anticipate potential material loss events. The Risk Mitigation Framework is comprised of a set of consistent and repeatable elements that allow Golub Capital to identify, assess, mitigate, and report on the operational risk profile of the firm. The Risk Mitigation programs include Risk and Control Self-Assessment ("RCSA"), Issue Management ("IM"), Vendor Risk Management ("VRM"), Business Continuity Management ("BCM"), and Internal Control Testing ("ICT").
Position Responsibilities
The essential functions of this role include participating in the assessment of risks facing Golub Capital and supporting the development of a comprehensive plan to identify, measure, monitor and report risk components. We are seeking an individual to support the continued development of this function and help advance the program. This individual will serve as a subject matter expert for the Vendor Risk Management (VRM) and Business Continuity Management (BCM) programs and will be responsible for expanding the program's capabilities, increasing participation and driving process improvements.
This role requires strong project management skills to develop detailed plans, track progress, manage obstacles and deliver initiatives on time and within budget. This is an internal client-facing role requiring communication with users at all levels of the organization.
Responsibilities include but are not limited to:
  • Overseeing the development and implementation of initiatives and tasks associated with the VRM and BCM programs
  • Guiding the implementation of the VRM framework, providing strategic direction to the First and Second Line of Defense
  • Managing the central vendor repository for the Firm and overseeing the automation of vendor on-boarding and off-boarding processes
  • Ensuring effective vendor risk mitigation plans and providing stakeholders with visibility into current and emerging risks
  • Leading VRM training initiatives to ensure effective application and awareness of the program across the Firm
  • Staying informed of industry developments and regulatory requirements, ensuring compliance and proactive adaptation
  • Liaising with third-party vendors, as required
  • Creating and maintaining VRM and BCM-related reporting for senior management and oversight committees
  • Proactively identifying, tracking and analyzing operational risks within Golub Capital and implementing critical control improvement
  • Representing the ORM Team interests at internal meetings, committees and working groups
  • Building and maintaining relationships with key ORM stakeholders, promoting a robust risk culture
  • Delivering concise risk assessments and program insights to senior management to support informed decision-making
  • Cultivating strong cross-functional relationships to advance program understanding and enterprise-wide adoption

Candidate Requirements
Qualifications & Experience:
  • Bachelor's degree required
  • 10+ years of experience in financial services risk management, management information systems or related role
  • Experience and detailed knowledge of third-party risk management, financial services industry practices, internal controls and regulatory requirements
  • Certifications (Preferred): Operational Risk Management Certificate, Certified Third Party Risk Management Professional (C3PRMP) or Project Management (PMP)
  • Experience and knowledge with operational loss causes, measures and mitigation strategies
  • Experience analyzing Excel reports with ability to leverage formulas preferred
  • Experience with third-party risk management systems (Processuntiy, Aravo)
  • Assertive, self-motivated, team oriented, flexible and able to multi-task
  • Excellent analytical and problem-solving skills
  • Exceptional written and verbal communication skills; capable of communicating effectively across all levels of the organization
  • Attention to detail and strong organizational skills, including the ability to manage several projects at one time
  • Highly resourceful and proven ability to work both independently and as a team member
  • Ability to probe sensitive issues while maintaining high level of integrity and objectivity
  • Demonstrated ability to effectively leverage AI tools in day-to-day work, with strong critical thinking to assess accuracy, limitations and appropriate use of AI generated outputs
  • Enthusiastic about working in office and creating a Gold Standard hybrid work culture

Critical Competencies for Success
Our Gold Standards define key behaviors and competencies across 4 dimensions: Leadership, Achieving Results, Personal Effectiveness and Thinking Critically. These behaviors and competencies drive our ability to win together.
  • Leadership: Role models in this area consistently focus on the right goals and priorities and continually develop themselves and others. Always team players, they influence and engage with others to contribute to a supportive and inclusive culture where all feel welcome.
  • Achieving Results: Role models in this area are high achievers who develop careful plans and deliver consistently and effectively. They hold themselves and others accountable for delivering high quality results, and they remove barriers to ensure others can contribute and grow.
  • Personal Effectiveness: Role models in this area build strong relationships, treat others with respect and communicate effectively. They are driven to exceed expectations and are adaptable to changing circumstances.
  • Thinking Critically: Role models in this area understand our business, rely on analytical reasoning and seek diverse perspectives to solve problems. They are forward thinking, anticipating issues and addressing them in advance.

The department-specific competencies define the knowledge, skills and abilities that are needed to successfully perform the functional or technical work of this role.
  • Change Management: Communicates the benefits and the impact of refinements to internal processes or technology.
  • Innovative Mindset: Leverages an agile and creative mindset to drive innovative value creation, continuous process improvement and proactive learning through new technology, processes and people.
  • Risk Management: Identifies, forecasts and articulates ways to pursue and manage informed risks in ambiguous, complex or uncertain situations based on sound value propositions and an analysis of potential rewards and costs.
  • Technical Communication and Documentation: Documents and communicates technical processes and procedures in area of specialty to stakeholders. Adapts the level of detail and specificity based on the needs of the intended audience.
  • Industry Knowledge: Demonstrates an understanding of risk management and the Firm's position in the industry, including its complex structure and competitive advantage in the marketplace. Monitors industry trends and changes and recognizes their relevancy and implications.
  • Business Needs Assessment: Identifies business needs across departments within the Firm to understand the challenges, goals and problems that the business needs to solve and identifies appropriate technical solutions.
  • Project / Program Management: Manages projects and / or programs through planning, identifying resources, monitoring and communicating project activities and assessing impacts of project decisions.

Compensation and Benefits
For Illinois Only: It is expected that the base salary range for this position will be $115,000 to $180,000. Actual salaries may vary based on factors such as skills, experiences and qualifications for the role. The total compensation package for this position may also include other elements and discretionary awards in addition to a full range of medical, financial and / or other benefits (including 401(k) eligibility and various paid time off benefits such as vacation, sick time and parental leave) dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment. If hired, the employee will be in an 'at-will position' and the Firm reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time including for reasons related to individual performance, Firm or individual department / team performance and market factors.
Golub Capital is an Equal Opportunity Employer.
Due to the highly regulated nature of Golub Capital's business and because of the sensitivity of the information that all personnel have access to, Golub Capital performs extensive and thorough pre-hire screens to ensure that its personnel act with expected levels of integrity, professionalism and personal responsibility.
Please review Golub Capital's US Job Applicant privacy notice and, for California residents, the California Applicant privacy notice for information on how your personal data is collected, processed and stored.

Apply