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Business Risk Manager Jobs in Illinois (NOW HIRING)

Old National Bank

IST Risk Manager

Chicago, IL · On-site

$199K/yr

The Manager serves as a consultative partner to both the first and second lines of defense, providing risk advisory and interpretation of regulatory expectations to business units and leadership.

Capital One

Principal Risk Manager

Chicago, IL · On-site

Provides education and monitors the business on requirements of company policies and standards related to risk and control ownership. * Develops and implements job aids and tools to facilitate ...

Capital One

Principal Risk Manager

Riverwoods, IL · On-site

Provides education and monitors the business on requirements of company policies and standards related to risk and control ownership. * Develops and implements job aids and tools to facilitate ...

Deloitte

Financial Risk Manager

Chicago, IL

Manage internal business development initiatives and sales opportunities, including the creation of ... Credit Risk, Liquidity Risk, Market Risk, Capital Management/Stress Testing * Knowledge of ...

Early Warning Services

IT Risk Manager

Chicago, IL · Hybrid

Build and manage the business line's centralized LOD1 function; act as business-line liaison to Enterprise Risk Management, Operational Risk Management, and Compliance in support of the company ...

Capital One

Manager, Risk Advisor

Riverwoods, IL

Manager, Risk Advisor Do you want to be part of an organization that's dedicated to helping Capital ... As the Business Continuity Lead for Risk Tech, you will facilitate tabletop exercises to support ...

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All JobsBusiness Risk JobsBusiness Risk Manager JobsBusiness Risk Manager Jobs in Illinois

Business Risk Manager information

See Illinois salary details

$26.3K

$95K

$156.6K

How much do business risk manager jobs pay per year?

As of Jul 17, 2026, the average yearly pay for business risk manager in Illinois is $95,017.00, according to ZipRecruiter salary data. Most workers in this role earn between $75,901.00 and $109,684.00 per year, depending on experience, location, and employer.

How much does a risk manager get paid?

A business risk manager's average salary in the United States ranges from $80,000 to $130,000 annually, depending on experience, industry, and location. Senior risk managers or those with specialized certifications like FRM or CRM can earn higher salaries, often exceeding $150,000. Compensation also includes benefits such as bonuses and professional development opportunities.

What does a business risk manager do?

A business risk manager identifies, assesses, and mitigates potential risks that could impact an organization's operations, financial health, or reputation. They analyze data, develop risk management strategies, and implement policies to minimize threats, often using tools like risk assessment software and requiring certifications such as CRM or FRM. Their role involves continuous monitoring and communication with stakeholders to ensure business resilience.

How does a Business Risk Manager typically collaborate with other departments to address organizational risks?

As a Business Risk Manager, cross-functional collaboration is a key part of the role. You’ll regularly work with departments such as finance, compliance, operations, and IT to identify potential risks, assess their impact, and develop mitigation strategies. This often involves facilitating risk assessment workshops, sharing reports, and ensuring that risk controls are integrated into business processes. Effective communication and relationship-building skills are essential, as you’ll act as a bridge between senior management and operational teams to align risk management efforts with organizational goals.

Do risk managers make good money?

Risk managers, including business risk managers, typically earn competitive salaries that vary based on experience, industry, and location. According to industry reports, median annual salaries range from $80,000 to over $130,000, with higher earnings possible for those with advanced certifications like CRM or FRM. The role often requires strong analytical skills and knowledge of risk assessment tools.

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

AspectBusiness Risk ManagerRisk Analyst
CredentialsCertifications like CRM, FRM, or CRC; bachelor's degree in business, finance, or related fieldCertifications such as FRM or CRM; bachelor's degree in finance, economics, or related field
Work EnvironmentStrategic planning, risk assessment, and policy development in corporate settingsData analysis, risk modeling, and reporting in finance or insurance firms
Employer & IndustryCorporations, financial institutions, insurance companiesFinancial services, consulting firms, insurance companies

The Business Risk Manager focuses on developing risk strategies and policies at a strategic level, while the Risk Analyst primarily conducts data analysis and risk assessments. Both roles require similar certifications and often work within the same industries, but their responsibilities differ in scope and focus.

What is the highest salary for a risk manager?

The highest salary for a business risk manager can exceed $150,000 annually, especially for those with extensive experience, advanced certifications, or leadership roles in large organizations. Senior risk managers or directors in financial services, insurance, or consulting firms tend to earn the highest compensation. Salary levels also depend on geographic location, industry, and the complexity of risk management responsibilities.

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

To thrive as a Business Risk Manager, you need strong analytical skills, risk assessment expertise, and a background in finance, business, or a related field, often backed by a bachelor's degree or higher. Familiarity with risk management frameworks, regulatory compliance systems, and certifications like FRM (Financial Risk Manager) or CRM (Certified Risk Manager) is typically required. Exceptional communication, problem-solving, and stakeholder management skills help you effectively identify, mitigate, and communicate risks across an organization. These competencies are crucial for proactively managing threats, ensuring regulatory compliance, and supporting the long-term stability and success of the business.
What are popular job titles related to Business Risk Manager jobs in Illinois? For Business Risk Manager jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Business Risk Manager jobs in Illinois look for? The top searched job categories for Business Risk Manager jobs in Illinois are:
What cities in Illinois are hiring for Business Risk Manager jobs? Cities in Illinois with the most Business Risk Manager job openings:
Business Risk Manager jobs near you
Infographic showing various Business Risk Manager job openings in Illinois as of July 2026, with employment types broken down into 86% Full Time, 12% Part Time, and 2% Contract. Highlights an 91% Physical, 2% Hybrid, and 7% Remote job distribution, with an average salary of $95,017 per year, or $45.7 per hour.
AVP, Risk Manager

AVP, Risk Manager

Zurich Insurance Group

Schaumburg, IL • On-site

Full-time

This job post has expired 2 days ago. Applications are no longer accepted.

Job description

Zurich North America is seeking an AVP, Risk Manager to provide second line oversight and governance across business units. This role partners with senior stakeholders to ensure risk management practices are effectively embedded, supports risk-informed decision making, and ensures alignment with enterprise and regulatory expectations.
The AVP, Risk Manager can work out of our Chicago, IL or Schaumburg, IL North America HQ in a hybrid schedule. This person will report to the Head of Strategic and Operational Risk.
The AVP-Risk Manager will provide independent oversight and challenge of business unit risk activities, ensuring effective governance and alignment with enterprise standards. This person will lead and support project and strategic risk assessments, support execution and ongoing management of TRP and SAOR frameworks, including coordination, review, and consolidate risk inputs to support enterprise reporting, oversee risk action plans, including monitoring progress, assessing effectiveness, and validating; trigger and manage the quarterly attestation process, ensuring timely and complete submissions.
Basic Qualifications:
  • Bachelor's Degree in Risk Management and 7 or more years of experience in the Risk Management área OR
  • High School Diploma or Equivalent and 9 or more years of experience in the Risk Management área OR
  • Zurich Certified Insurance Apprentice including an Associate's Degree in Risk Management and 7 or more years of experience in the Risk Management área AND
  • 7 or more years in the insurance or financial industry, including experience in different technical functions
  • Knowledge in risk management or risk engineering

Preferred Qualifications:
  • Strong ability to challenge and influence senior stakeholders
  • Experience with risk frameworks, governance, and regulatory expectations
  • Proven ability to manage multiple priorities and deliver high-quality outputs
  • Strong written and verbal communication skills
  • Advanced degree and/or professional risk or finance certification
  • Demonstrates independent judgment and effective challenge
  • Applies an enterprise-wide perspective to risk assessment and decision-making
  • Influences outcomes in a matrixed environment
  • Ensures strong governance, execution, and delivery discipline
  • Builds capability through coaching and enablement across teams

Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply-your unique background matters to us.
The pay range shown is a national average and may vary by location. The proposed salary range for this position is $110,220 - $180,510, with short-term incentive bonus eligibility set at 20%.
Why Zurich?
At Zurich, we value your ideas and experience. We offer growth, inclusion, and a supportive environment-so you can help shape the future of insurance. Zurich North America is a leader in risk management, with over 150 years of expertise and coverage across 25+ industries, including 90% of the Fortune 500®.
Join us for a brighter future-for yourself and our customers.
Zurich in North America does not discriminate based on race, ethnicity, color, religion, national origin, sex, gender expression, gender identity, genetic information, age, disability, protected veteran status, marital status, sexual orientation, pregnancy or other characteristics protected by applicable law. Equal Opportunity Employer disability/vets.
Zurich complies with 18 U.S. Code § 1033.
Please note: Zurich does not accept unsolicited CVs from agencies. Preferred vendors should use our Recruiting Agency Portal.
Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No
Linkedin Recruiter Tag: #LI-MG1 #LI-DIRECTOR

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