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Associate Risk Manager Jobs in Oak Brook, IL (NOW HIRING)

Aon Corporation

Risk Manager

Chicago, IL · Hybrid

$100K - $150K/yr

Professional certifications such as Associate in Risk Management (ARM) or Certified Risk Manager (CRM) or similar. * Demonstrable experience using and leveraging AI tools to enhance business ...

Aon Corporation

Risk Manager

Chicago, IL · Hybrid

$100K - $150K/yr

Professional certifications such as Associate in Risk Management (ARM) or Certified Risk Manager (CRM) or similar. * Demonstrable experience using and leveraging AI tools to enhance business ...

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How much do associate risk manager jobs pay per hour?

As of Jun 23, 2026, the average hourly pay for associate risk manager in Oak Brook, IL is $25.65, according to ZipRecruiter salary data. Most workers in this role earn between $17.45 and $30.10 per hour, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as an Associate Risk Manager, and why are they important?

To thrive as an Associate Risk Manager, you need strong analytical abilities, knowledge of risk assessment methodologies, and a bachelor's degree in finance, business, or a related field. Familiarity with risk management software, Microsoft Excel, and relevant certifications such as CRM or FRM are commonly expected. Excellent communication, problem-solving skills, and attention to detail help you collaborate effectively and identify potential risks. These competencies are crucial for identifying, evaluating, and mitigating organizational risks to support informed decision-making and safeguard company assets.

What are some common challenges an Associate Risk Manager faces when collaborating across departments?

Associate Risk Managers often work closely with various departments such as finance, operations, and compliance to identify and mitigate risks. A common challenge is ensuring clear communication and alignment, as different teams may have varying priorities and levels of risk awareness. Successfully navigating these dynamics requires strong interpersonal skills and the ability to translate complex risk concepts into actionable recommendations for non-specialists. Building trust and maintaining open lines of communication are key to fostering effective cross-departmental collaboration.

What is the difference between Associate Risk Manager vs Risk Analyst?

AspectAssociate Risk ManagerRisk Analyst
CredentialsBachelor's degree, certifications like CRM or FRM often preferredBachelor's degree, certifications like CRM or FRM beneficial
Work EnvironmentCollaborates with risk management teams, involved in strategy developmentAnalyzes data, assesses risks, supports risk management decisions
Employer & Industry UsageInsurance, banking, corporate risk departmentsFinancial services, insurance, consulting firms

The Associate Risk Manager and Risk Analyst roles share similar credentials and industry usage, but the Associate Risk Manager typically has more involvement in strategic planning and risk mitigation efforts, whereas the Risk Analyst focuses more on data analysis and risk assessment support.

What does an Associate Risk Manager do?

An Associate Risk Manager is responsible for helping organizations identify, assess, and minimize risks that could impact their operations, finances, or reputation. They work closely with senior risk managers to develop risk management strategies, conduct risk assessments, and implement control measures. Their duties may also include analyzing data, preparing reports, and ensuring compliance with regulatory requirements. This role is often entry-level or early-career, providing foundational experience in risk management practices. Associate Risk Managers play a key role in supporting the overall risk management framework within an organization.
What job categories do people searching Associate Risk Manager jobs in Oak Brook, IL look for? The top searched job categories for Associate Risk Manager jobs in Oak Brook, IL are:
What cities near Oak Brook, IL are hiring for Associate Risk Manager jobs? Cities near Oak Brook, IL with the most Associate Risk Manager job openings:
Associate Risk Manager jobs near you
Associate Risk Manager

Associate Risk Manager

Northwestern University

Evanston, IL

$78K - $85K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 16 days ago

Northwestern University rating

8.2

Company rating: 8.2 out of 10

Based on 46 frontline employees who took The Breakroom Quiz

110th of 539 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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