Operational Risk Manager
Career GuideKey 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.
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
1
Choose one business area to specialize in, such as payments operations, customer support, or technology change2
Build a portfolio of risk artifacts, including a process map, a risk assessment, and an issues log3
Strengthen reporting by learning a dashboard tool and defining consistent metrics4
Seek cross functional projects with compliance, security, and audit teams5
Practice incident reviews and root cause analysis using recent operational events6
Consider certifications aligned to the role, such as CRISC, CISA, or ORM focused programs7
Target roles that expand scope, such as enterprise risk initiatives or third party risk ownership