Operational Risk Manager

Career Guide

An Operational Risk Manager helps an organization prevent losses and service disruptions by identifying process risks, improving controls, and ensuring issues are tracked and fixed. The role sits between business teams, compliance, security, audit, and leadership to turn risk findings into practical actions.

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Key Responsibilities

Identify and assess operational risks across processes, people, systems, and vendors
Map key processes and document where failures could occur
Design and improve controls that reduce errors and losses
Run risk and control assessments with business teams
Monitor incidents, losses, and near misses to spot patterns
Lead root cause analysis for major issues and track corrective actions
Create risk reports and dashboards for senior leaders
Support audits and regulatory reviews with clear evidence
Set risk policies and standards for consistent execution
Oversee third party risk activities for critical vendors
Deliver training that improves risk awareness and control ownership
Coordinate with technology teams on system change risk reviews

Top Skills for Success

Risk Assessment

Control Design

Issue Management

Incident Management

Root Cause Analysis

Process Mapping

Stakeholder Management

Written Communication

Executive Reporting

Data Analysis

Regulatory Awareness

Audit Management

Third Party Risk Management

Business Continuity Planning

Change Management

Career Progression

Can Lead To

Senior Operational Risk Manager

Operational Risk Lead

Operational Risk Director

Head of Operational Risk

Enterprise Risk Manager

Risk and Controls Manager

Transition Opportunities

Internal Audit Manager

Compliance Manager

Information Security Risk Manager

Third Party Risk Manager

Business Continuity Manager

Fraud Risk Manager

Operations Director

Common Skill Gaps

Often Missing Skills

Control TestingRisk ReportingVendor Risk ReviewsRisk Tool AdministrationScenario AnalysisPolicy WritingData Visualization

Development SuggestionsBuild a simple risk and control library for one process area, practice writing clear issue statements with measurable actions, and create a monthly risk dashboard using real operational metrics. Pair this with exposure to audits and vendor reviews to strengthen evidence collection and documentation quality.

Market Intelligence Report

Operational Risk Manager is part of the Risk Management category.Explore our market intelligence report to see how AI and hiring demand are shifting for these roles.

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Salary & Demand

Median Salary Range

Entry LevelUSD 80,000 to 110,000

Mid LevelUSD 110,000 to 150,000

Senior LevelUSD 150,000 to 210,000

Growth Trend

Stable to growing demand, especially in financial services, payments, healthcare, and large technology operations. Hiring increases when regulations tighten, when companies scale quickly, or after major incidents.

Companies Hiring

Major Employers

JPMorgan ChaseBank of AmericaCitigroupWells FargoGoldman SachsMorgan StanleyHSBCBarclaysVisaMastercardPayPalAmerican ExpressAmazonGoogleMicrosoftUnitedHealth GroupCVS HealthAIGChubbDeloittePwCEYKPMG

Industry Sectors

BankingCapital MarketsInsurancePaymentsFintechHealthcareEcommerceCloud ServicesConsultingTelecommunicationsEnergy

Recommended Next Steps

Choose one business area to specialize in, such as payments operations, customer support, or technology change

Build a portfolio of risk artifacts, including a process map, a risk assessment, and an issues log

Strengthen reporting by learning a dashboard tool and defining consistent metrics

Seek cross functional projects with compliance, security, and audit teams

Practice incident reviews and root cause analysis using recent operational events

Consider certifications aligned to the role, such as CRISC, CISA, or ORM focused programs

Target roles that expand scope, such as enterprise risk initiatives or third party risk ownership