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Contract Risk Jobs in Chicago, IL (NOW HIRING)

LMK Recruiting Solutions

Contracts Manager

Chicago, IL

$91K - $122K/yr

Advise leadership on contract risk areas including indemnification, limitation of liability, IP ownership, and confidentiality; recommend mitigation strategies. Support internal audits, DCAA/DCMA ...

Pfizer

Director, Contract Development

Lake Forest, IL · On-site

Lead the early-risk identification framework, converting cross-functional input from Contract Strategy, Contract Management, Rebate Operations, Account Management, Portfolio, Pricing & Commercial ...

TREW LLC

Contract Manager

Chicago, IL · On-site

$91K - $122K/yr

Identify and elevate non-standard terms, unusual risk allocations, and provisions requiring legal review. Contract Lifecycle Management Own the end-to-end contract lifecycle: intake, drafting ...

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All JobsContract Risk JobsContract Risk Jobs in Chicago, IL

Contract Risk information

See Chicago, IL salary details

$14

$31

$76

How much do contract risk jobs pay per hour?

As of Sep 10, 2026, the average hourly pay for contract risk in Chicago, IL is $31.25, according to ZipRecruiter salary data. Most workers in this role earn between $20.05 and $39.86 per hour, depending on experience, location, and employer.

What is contract risk?

Contract risk refers to the potential for financial loss, legal exposure, or operational issues arising from the terms, execution, or management of contracts between parties. This can include risks such as non-performance, ambiguous clauses, regulatory non-compliance, and disputes over contract obligations. Identifying and managing contract risk is essential for organizations to safeguard their interests and ensure smooth business operations. Contract risk professionals assess agreements for potential pitfalls and develop strategies to minimize or mitigate these risks.

What are some common challenges faced by professionals in contract risk roles, and how can they be addressed?

Professionals in Contract Risk roles often encounter challenges such as navigating ambiguous contract language, managing tight deadlines for risk assessments, and ensuring coordination between legal, compliance, and business teams. Addressing these challenges typically involves developing strong communication skills, utilizing risk management tools, and staying updated on regulatory changes. Building collaborative relationships across departments and participating in ongoing training can also help contract risk professionals effectively mitigate risks and add value to their organizations.

What are the key skills and qualifications needed to thrive as a contract risk professional, and why are they important?

To thrive as a Contract Risk professional, you need strong knowledge of contract law, risk assessment, and compliance, usually supported by a degree in law, business, or a related field. Familiarity with contract management software, risk analysis tools, and regulatory frameworks is essential. Exceptional attention to detail, negotiation skills, and the ability to communicate complex concepts clearly are vital soft skills. These competencies help ensure that organizations identify, mitigate, and manage contractual risks effectively, protecting their interests and maintaining regulatory compliance.

What is the difference between Contract Risk vs Contract Administrator?

AspectContract RiskContract Administrator
Primary FocusIdentifying and mitigating contractual risksManaging contract documentation and execution
Required CredentialsLegal or risk management background, certifications in risk managementLegal, administrative, or contract management experience
Work EnvironmentRisk departments, legal teams, project managementContract departments, procurement, project teams

Contract Risk professionals focus on analyzing and reducing contractual risks before and during contract execution, often working closely with legal and risk management teams. Contract Administrators handle the day-to-day management of contracts, ensuring compliance, documentation, and timely execution. While both roles require understanding contracts, Contract Risk emphasizes risk mitigation strategies, whereas Contract Administrators focus on contract administration and operational tasks.

What are the most commonly searched types of Risk jobs in Chicago, IL?

The most popular types of Risk jobs in Chicago, IL are:

Contract Risk jobs near you
Infographic showing various Contract Risk job openings in Chicago, IL as of September 2026, with employment types broken down into 88% Full Time, 6% Part Time, and 6% Temporary. Highlights an 83% In-person, 6% Hybrid, and 11% Remote job distribution, with an average salary of $65,002 per year, or $31.3 per hour.

Senior Risk Manager - Insurance and Contract Compliance

Bedford Park, IL • On-site

Michels
See more jobs at Michelsexternal

Other

Medical, Dental, Life, Retirement

Posted 22 days ago

Key responsibilities

  • Manage the team by supervising, interviewing, training, and providing feedback to employees.

  • Ensure project-specific insurance coverage and bonds are managed throughout the project lifecycle.

  • Review and evaluate construction contracts, joint venture agreements, and customer terms to identify risk exposures and insurance requirements.

Job description

Senior Risk Manager - Insurance and Contract Compliance

Improving America’s infrastructure isn’t for the weak. It takes grit, determination, and hard work to execute high impact projects. Michels Corporation engages 8,000 people and 18,000 pieces of heavy equipment in our insatiable drive to be the best. Our work improves lives. Find out how a career as a Senior Risk Manager of Insurance and Contract Compliance can change yours.

The Senior Risk Manager of Insurance and Contract Compliance has strong experience in risk management, insurance, and contract risk transfer within the heavy civil construction industry, supporting both U.S. and international operations. They are comfortable working in a fast-paced environment and have a proven track record of overseeing contract compliance, managing surety programs, coordinating project-specific insurance coverage, and handling insurance requirements across multiple countries and jurisdictions.

This role requires prior experience in the construction industry.

  • We are consistently ranked among the top 10% of Engineering News-Record’s Top 400 Contractors
  • Our steady, strategic growth revolves around a commitment to quality
  • We are family owned and operated
  • We invest an average of $5,000 per employee on training each year
  • We reward hard work and dedication with limitless opportunities
  • We believe it is everyone’s responsibility to promote safety, regardless of job titles
  • We offer a comprehensive benefits program including (depending on your positions and location you may participate in a different benefit plan):
  • Health, Dental, Life, Flexible Spending Accounts, Health Savings Account, Short Term and Long-Term Disability Insurance, 401(k) plan, Legal Plan, and Identity Theft and Monitoring Plan

Why you?

  • You thrive in fast-paced environments under tight deadlines
  • You relish new challenges and evolving technology
  • You enjoy collaborating and communicating with your teammates
  • You like to know your efforts are noticed and appreciated
  • You have strong communication skills
  • You deliver exemplary customer service through interactions with others

Responsibilities:

  • Directly manage the team. Carry out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing and training employees, planning, assigning and directing work; providing feedback; addressing complaints and resolving problems
  • Ensure that all project specific insurance coverage and bonds are managed throughout the lifecycle of the project, the respective extended reporting period and/or completed operations period
  • Review and evaluate domestic and international construction contracts, joint venture agreements, and customer terms to identify risk exposures, contractual obligations, insurance requirements, and risk transfer opportunities
  • Handle key aspects of initial contract review including identifying benefits and potential disadvantages and coordinating legal and insurance review of contract terms and conditions
  • Procure appropriate contract specific insurance coverages to comply with contract insurance requirements, joint venture bids, builders risk insurance and accompanying certificates of insurance
  • Review insurance coverage issues related to construction contracts, lease agreements, subcontract agreements and consultant agreements with Corporate Legal, Division Operational Management and Construction Project Management

Qualifications:

  • Bachelor’s Degree and 10+ years of related experience, or an equivalent combination
  • Proficient in Microsoft Office Suite
  • Experience supporting international construction projects and multinational insurance programs (desired)
  • Professional designations such as CPCU, ARM, CRIS, or equivalent risk management and insurance certifications (desired)
  • Must possess a valid driver license for the type(s) of vehicles which may be driven and an acceptable driving record as determined by the Michels Review Team

This information reflects the anticipated base salary for this position based on current market data. Minimums and maximums may vary based on location. Actual pay will be adjusted based on individual’s skills, experiences, education, and other job-related factors permitted by law.

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