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Associate Risk Management Jobs in Illinois (NOW HIRING)

Addison Group

Risk Management Specialist

Chicago, IL · Hybrid

$50 - $60/hr

Risk & Compliance Associate Location: Chicago, IL Industry: Management Consulting Compensation: $50 - $60 / hour (Contract) Work Schedule: Monday-Friday, 8:00 AM-5:00 PM - HYBRID Benefits: This ...

Prime Healthcare

Risk Management Manager

Chicago, IL

$70K - $102K/yr

EDUCATION, EXPERIENCE, TRAINING 1. Bachelor of Science in Nursing or healthcare related field preferred. 2. Fellow or Diplomat of American Society of Healthcare Risk Managers Associate in Risk ...

Prime Healthcare

Risk Management Manager

Chicago, IL

$70K - $102K/yr

EDUCATION, EXPERIENCE, TRAINING 1. Bachelor of Science in Nursing or healthcare related field preferred. 2. Fellow or Diplomat of American Society of Healthcare Risk Managers Associate in Risk ...

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Associate Risk Management information

See Illinois salary details

$48.5K

$105.9K

$177.3K

How much do associate risk management jobs pay per year?

As of Jun 20, 2026, the average yearly pay for associate risk management in Illinois is $105,928.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,700.00 and $137,600.00 per year, depending on experience, location, and employer.

Is risk management high paying?

Risk management professionals, including those in associate roles, often earn competitive salaries that vary by industry, location, and experience. Entry-level positions typically have lower pay, but with experience and certifications like FRM or CRM, salaries can increase significantly, making risk management a potentially lucrative career path.

What are the key skills and qualifications needed to thrive in the Associate Risk Management position, and why are they important?

To thrive as an Associate Risk Management professional, you typically need a bachelor's degree in business, finance, or a related field, strong analytical abilities, and attention to detail. Familiarity with risk assessment software, data analysis tools like Excel, and industry certifications such as FRM (Financial Risk Manager) are common technical requirements. Excellent communication, problem-solving, and teamwork skills help you effectively collaborate and present risk findings. These skills ensure accurate risk evaluation, effective mitigation strategies, and support sound decision-making within the organization.

What is an associate in risk management?

An associate in risk management is an entry-level or junior professional responsible for assisting in identifying, assessing, and mitigating risks within an organization. They often support risk analysis, data collection, and reporting, and may work under the supervision of senior risk managers. Relevant skills include knowledge of risk assessment tools and certifications like the Associate in Risk Management (ARM) designation.

What is the salary of risk management associate in EY?

The salary for a Risk Management Associate at EY typically ranges from $60,000 to $80,000 annually, depending on experience, location, and education. Entry-level positions may start lower, while experienced professionals or those in high-cost areas can earn higher compensation. Benefits often include professional development opportunities and exposure to risk assessment tools.

What is a risk management associate job description?

A risk management associate analyzes and identifies potential risks that could affect an organization’s assets, operations, or reputation. They develop strategies to mitigate or manage these risks, often using data analysis, risk assessment tools, and industry standards. The role typically requires strong analytical skills, attention to detail, and knowledge of risk management frameworks or certifications.

What does an Associate Risk Management professional do?

An Associate Risk Management professional helps identify, assess, and mitigate potential risks that could impact an organization's financial, operational, or strategic objectives. They analyze data, monitor risk exposure, and assist in developing risk management strategies. Their role often involves collaborating with different departments to ensure compliance with policies and regulations. Additionally, they may prepare reports and provide recommendations to improve risk management practices.

What are some typical challenges faced by an Associate Risk Management professional, and how do they contribute to the team?

An Associate Risk Management professional often encounters challenges such as analyzing complex data from multiple sources, keeping up with evolving regulations, and effectively communicating potential risks to various stakeholders. You will regularly collaborate with colleagues in legal, compliance, and business units to ensure that risks are identified and addressed proactively. These challenges foster a culture of continuous learning and improvement, allowing you to play a key role in minimizing potential losses and enhancing the organization's overall stability. Overcoming these obstacles helps you develop critical thinking and adaptability, which are highly valued for future career growth in the field.

What are the most commonly searched types of Risk Management jobs in Illinois? The most popular types of Risk Management jobs in Illinois are:
What are popular job titles related to Associate Risk Management jobs in Illinois? For Associate Risk Management jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Associate Risk Management jobs in Illinois look for? The top searched job categories for Associate Risk Management jobs in Illinois are:
What cities in Illinois are hiring for Associate Risk Management jobs? Cities in Illinois with the most Associate Risk Management job openings:
Associate Risk Management jobs near you
Associate Risk Manager

Associate Risk Manager

Northwestern University

Evanston, IL • On-site

$9/hr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 14 days ago

Northwestern University rating

8.2

Company rating: 8.2 out of 10

Based on 46 frontline employees who took The Breakroom Quiz

109th of 538 rated colleges and universities

Job description

Department: Risk Management
Salary/Grade: EXS/9
The expected salary for this position is between $78,000-$85,000 per year, in alignment with departmental equity and market data.
Job Summary:
The Associate Risk Manager works independently to help manage Northwestern's insurance and risk finance programs, including supporting annual reporting and auditing requirements for Northwestern's captive insurance program. The Associate Risk Manager will support insurance claims and risk management activities of the University's various self-insured property and casualty insurance programs. The role will also be responsible for overseeing the administration of additional services offered by the department to members of the University community, including but not limited to special event management and certificates of insurance. The role will also handle primary day-to-day insurance needs and oversee the creation, production, and management of key metrics and tools used to assess risk appetite and measure insurance program performance. The incumbent should demonstrate close attention to detail, excellent customer service, and an aptitude for learning various software platforms and systems.
Specific Responsibilities:
Captive Administration:
  • Supports and helps oversee the annual financial audit processes and actuarial assessments, providing relevant documentation to CPAs and auditors as requested.
  • Manages required transactions and reconciliations to ensure management of captive finances in accordance with accounting standards.
  • Assists with managing the captive annual calendar, working with outside vendors to handle the implementation and management of the captive insurance program.
Risk Management:
  • Participate in discussions regarding risk, safety, and educational programs for University students, faculty, and staff.
  • Advise campus partners on the suitability of risk management strategies and opportunities for loss prevention.
  • Support department communications to drive enterprise-wide risk awareness.
  • Review contracts for proper risk transfer and insurance terms.
  • Oversee and manage the Risk Management Safe Driver program.
Claims Management:
  • Support the department in claims management activities, including but not limited to maintaining RMIS system, incident investigations, litigation coordination, and insurer communications.
  • Resolve recurring issues by identifying trends and process improvement opportunities.
  • Establish and maintain effective working relationships with campus partners, vendors, and outside panel counsel.
  • Supports resolution and close-out of property, casualty and executive liability claims.
Commercial Insurance Program Management:
  • Assist with the insurance renewal process, including sourcing of information, completion of applications, and inventory listings.
  • Assist campus partners in identifying and developing risk finance solutions as needed.
  • Create key operational dashboards to assess metrics across all areas of risk in RMIS system.
  • Review requests for and issue certificates of insurance in accordance with contractual terms and department SOPs. Review and maintain records of third-party certificates of insurance received by the department.
Miscellaneous
Performed other duties
Minimum Qualifications: (Education, experience, and any other certifications or clearances)
  • Successful completion of a full 4-year course of study in an accredited college or university leading to a bachelor's or higher degree in a major such as insurance, business, or finance.
  • 2-3 years of insurance, risk management, or finance experience.
Minimum Competencies: (Skills, knowledge, and abilities.)
  • Strong communication skills
  • Strong technical aptitude and understanding of insurance coverage.
  • Ability to work with a diverse set of stakeholders and provide excellent customer service.
  • Strong time management and project management skills
  • Basic understanding of claims adjudication, actuarial modeling, and risk finance.
  • Strong desire to learn and take on additional responsibility.
Preferred Qualifications: (Education and experience)
  • Degree in Risk Management or Insurance.
  • Commercial insurance underwriting or claims experience.
  • CPCU, CRM, ARM or other professional designations.
Benefits:
At Northwestern, we are proud to provide meaningful and competitive benefits. The available benefits package for this position will include health, dental, vision, disability, and life insurance; paid vacation and holidays; paid medical/sick and parental leave; tuition benefits for the employee and dependents; pre-tax and flex spending accounts for commuting and dependent care; generous retirement savings options; and wellness programs. For a comprehensive overview of available benefits, including eligibility details, visit us at https://www.northwestern.edu/hr/benefits/index.html to learn more.
Work-Life and Wellness:
Northwestern offers comprehensive programs and services to help you and your family navigate life's challenges and opportunities, and adopt and maintain healthy lifestyles.
We support flexible work arrangements where possible and programs to help you locate and pay for quality, affordable childcare and senior/adult care. Visit us at https://www.northwestern.edu/hr/benefits/work-life/index.html to learn more.
Professional Growth & Development:
Northwestern supports employee career development in all circumstances whether your workspace is on campus or at home. If you're interested in developing your professional potential or continuing your formal education, we offer a variety of tools and resources. Visit us at https://www.northwestern.edu/hr/learning/index.html to learn more
Northwestern University is an Equal Opportunity Employer and does not discriminate on the basis of protected characteristics, including disability and veteran status. View Northwestern's non-discrimination statement . Job applicants who wish to request an accommodation in the application or hiring process should contact the Office of Civil Rights and Title IX Compliance. View additional information on the accommodations process .
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