Operational Risk Manager

Operational Risk Manager

Job Locations

US-IL-Chicago | US-IN-Evansville | US-MN-Lake Elmo

Category / Function

Risk / Security

Position Type

Regular Full-Time

Requisition ID

2025-18639

Workplace Type

On Site

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

The Operational Risk Manager serves as a key member within the bank's Second Line of Defense, supporting the Operational Risk Director in the oversight and enhancement of the enterprise-wide operational risk framework. The Operational Risk Manager is responsible for managing a team that drives risk identification, assessment, and monitoring activities across the bank. The position plays a critical role in strengthening risk governance, enhancing control environments, and ensuring alignment with OCC regulatory expectations. Through collaboration with business units, senior stakeholders, and other risk functions, the role promotes a culture of proactive risk management.

Salary Range

The salary range for this position is $81,700 - $165,100 per year. Final compensation will be determined by location, skills, experience, qualifications and the career level at which the position is filled.

Key Accountabilities

Lead the Operational Risk Management Framework

Lead the ongoing development, implementation, and enhancement of the enterprise-wide Operational Risk Management Framework, ensuring alignment with regulatory expectations and industry best practices.

• Oversee the design and execution of core Operational Risk Management Programs, including but not limited to the Operational Loss Event Program, the Risk and Control Self-Assessment (RCSA) Program, the Control Monitoring and Testing Program.
• Develop, design, and maintain detailed procedures and documentation for ORM team core activities, ensuring clarity, consistency, and alignment with the broader risk framework and regulatory expectations.
• Exercise effective challenge as part of the Second Line of Defense by independently reviewing and assessing First Line risk activities, control environments, and remediation plans.
• Collaborate with cross-functional teams to evaluate operational risk implications of new products, services, and strategic initiatives, providing independent challenge and risk-based recommendations.
• Monitor and track operational risk issues and control gaps through established governance routines, ensuring timely remediation and escalation where appropriate.
• Support the ongoing development, implementation, and enhancement of enterprise-wide taxonomies, including but not limited to the Risk Taxonomy, Process Taxonomy, Control Taxonomy, promoting consistency in risk identification, control mapping, and reporting.
• Partner with First Line and Internal Audit to ensure alignment and transparency across risk assessments, control testing, and issue management processes, while maintaining independence and objectivity in Second Line oversight.

Risk Assessments

Control Monitoring & Testing

Communicate and Report Operational Risks :

Risk Leadership :

Key Competencies for Position

People Leadership :

Culture Leadership :

Execution Leadership :

Qualifications and Education Requirements

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical. We are Old National Bank.

Join our team!

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If you're qualified for a position but need additional help with the application because of a disability, please email HRservices@oldnational.com (This email will respond to accommodation requests only.)