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Corporate Risk Manager Jobs in Chicago, IL (NOW HIRING)

BMO Capital Markets

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Management of risk stakeholder program execution and interaction with Third Party Risk Specialists ... Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and ...

Bank of Montreal

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Management of risk stakeholder program execution and interaction with Third Party Risk Specialists ... Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and ...

BMO Financial

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Management of risk stakeholder program execution and interaction with Third Party Risk Specialists ... Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and ...

Posted today

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97.43 - $116.42/hr

Collaborate and consult with the corporate risk management department. * Lead Investigations and analyze actual and potential risks in the facility. Collaborate with the Legal team to assess ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

Collaborate and consult with the corporate risk management department. * Lead Investigations and analyze actual and potential risks in the facility. Collaborate with the Legal team to assess ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

Collaborate and consult with the corporate risk management department. * Lead Investigations and analyze actual and potential risks in the facility. Collaborate with the Legal team to assess ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

Collaborate and consult with the corporate risk management department. * Lead Investigations and analyze actual and potential risks in the facility. Collaborate with the Legal team to assess ...

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Corporate Risk Manager information

See Chicago, IL salary details

$53.1K

$115K

$175.3K

How much do corporate risk manager jobs pay per year?

As of Aug 12, 2026, the average yearly pay for corporate risk manager in Chicago, IL is $115,010.00, according to ZipRecruiter salary data. Most workers in this role earn between $92,800.00 and $133,000.00 per year, depending on experience, location, and employer.

Do corporate risk managers make good money?

Corporate risk managers typically earn a competitive salary that varies based on experience, industry, and location. According to industry data, the median annual salary ranges from $80,000 to over $130,000, with higher earnings possible for those with advanced certifications or extensive experience. They often work in office environments, utilizing risk assessment tools and analytical skills.

What are some common challenges a corporate risk manager faces when aligning risk strategies with different business units?

A Corporate Risk Manager often encounters the challenge of aligning risk strategies across diverse business units, each with its own objectives and risk appetite. Balancing these differences requires strong communication, negotiation skills, and a deep understanding of the company's overall risk framework. It’s common to facilitate cross-departmental discussions to ensure consistency and buy-in, while tailoring approaches to fit unique operational needs. Successfully navigating these dynamics not only helps mitigate risks but also fosters a collaborative culture around risk management.

What is the difference between Corporate Risk Manager vs Insurance Risk Analyst?

AspectCorporate Risk ManagerInsurance Risk Analyst
CertificationsCRM, FRM, or ERM certifications often preferredFRM, CPCU, or ARM certifications common
Work EnvironmentCorporate offices, risk management departmentsInsurance companies, brokerage firms, risk assessment teams
Employer & IndustryLarge corporations across industriesInsurance firms, reinsurance companies
Primary FocusIdentifying and mitigating enterprise-wide risksAssessing insurance risks and setting premiums

While both roles involve risk assessment, the Corporate Risk Manager focuses on overall enterprise risk management within a company, whereas the Insurance Risk Analyst specializes in evaluating insurance risks and determining policy premiums. Both positions require similar certifications and are integral to risk mitigation strategies in their respective environments.

What does a corporate risk manager do?

A Corporate Risk Manager is responsible for identifying, assessing, and mitigating risks that could negatively impact a company’s financial standing, reputation, or operations. They develop risk management strategies, policies, and procedures to minimize potential losses and ensure compliance with regulations. Their work involves analyzing internal and external risks, recommending insurance coverage, and implementing plans to address risks related to market changes, legal issues, or operational failures.

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

To thrive as a Corporate Risk Manager, you need strong analytical skills, a background in finance or business, and typically a bachelor's or master's degree in a related field. Familiarity with risk assessment tools, enterprise risk management (ERM) systems, and certifications such as FRM (Financial Risk Manager) or CRM (Certified Risk Manager) are highly valued. Exceptional communication, critical thinking, and leadership abilities are essential for influencing decision-makers and managing cross-functional teams. These skills are crucial for identifying, evaluating, and mitigating risks that could impact organizational objectives and ensuring long-term business stability.

How much do risk managers earn?

Risk managers typically earn a median annual salary of around $100,000, with salaries ranging from approximately $70,000 to over $150,000 depending on experience, industry, and location. Advanced certifications like the Certified Risk Manager (CRM) can enhance earning potential, and the role often requires strong analytical skills and familiarity with risk assessment tools.
What cities near Chicago, IL are hiring for Corporate Risk Manager jobs? Cities near Chicago, IL with the most Corporate Risk Manager job openings:
Corporate Risk Manager jobs near you
Infographic showing various Corporate Risk Manager job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 84% Full Time, 13% Part Time, and 2% Contract. Highlights an 94% Physical, 2% Hybrid, and 4% Remote job distribution, with an average salary of $115,010 per year, or $55.3 per hour.

Director, Risk Management

Pepper Construction

Barrington, IL • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 6 days ago

Job description

With offices in Illinois, Wisconsin, Indiana, and Ohio, Pepper Construction is a national general contracting and construction management firm that primarily serves the private sector. Pepper Construction provides clients the experience and resources of a national company, combined with the hands-on approach of a local company.
The Director, Corporate Risk Management will lead the Company's enterprise risk management strategy, providing strategic oversight of insurance programs, claims management, contractual risk, loss control, and risk mitigation initiatives across the organization. This role is responsible for designing, placing, and managing property and casualty insurance programs; supporting Contractor Controlled Insurance Programs (CCIPs); and developing practical solutions that protect the Company's people, projects, assets, and financial performance.
Serving as a trusted advisor to executive leadership, business unit leaders, and cross-functional partners, the Director will help embed risk awareness into daily operations while enabling informed decision-making and supporting continued growth. The ideal leader brings strong technical expertise, sound judgment, collaborative influence, and an innovative approach to managing emerging business, operational, financial, and contractual risks within a complex construction environment.
MAJOR RESPONSIBILITIES
Risk Strategy & Insurance Programs
  • Leads the implementation, governance and continuous improvement of a Contractor Controlled Insurance Program (CCIP) and Subcontractor Default Insurance program
  • In collaboration with brokers, underwriters, and insurers, designs, places and manages insurance programs that effectively allocate, mitigate, and finance risk
  • Regularly reviews insurance coverages, limits, deductibles, and structures to ensure alignment with business growth, coverage optimization, project risk profiles, and market conditions
  • Develops insurance cost allocation and billing models to support accurate divisional and project pricing
  • Meets with company clients, subcontractors, consultants to negotiate contractual insurance and bonding terms to mitigate retained risks.

Contractual & Financial Risk
  • Reviews contractual insurance and risk allocation provisions; identifies and advises on one-sided, unusual, or high-risk terms
  • Partners with the Corporate Legal Team to develop and negotiate contract terms, exceptions and amendments related to risk, insurance, and bonding
  • Obtains and evaluates specialty insurance coverage required by owner contracts or unique project risks

Claims & Loss Management
  • Partners with the third-party claims administrators ("TPAs"), claims adjusters/consultants, claims counsel, and General Counsel to oversee claims strategy, valuation, and reserve adequacy
  • Ensures claims data accuracy and provides clear, actionable reporting to executive leadership
  • Uses claims trends to drive loss prevention and operational improvements

Operational Risk & Loss Control
  • Works closely with Operations, Safety, Fleet Management, Human Resources, Facilities Management, and project teams to implement systems, procedures and controls that reduce the frequency and severity of losses
  • Provides training and guidance to Operation's project teams on insurance programs, CCIP requirements, risk controls, and risk management best practices
  • Serves as a trusted advisor to operations leadership on risk-related decision making

Fleet Risk Management
  • Oversees fleet risk strategy, including driver standards, insurance coverage, loss trends, auto liability exposure, and claims performance in partnership with Safety and Operations
  • Leads accident review, preventability determinations, repair estimate evaluation, severity tiering, and related cost-control processes
  • Manages driver risk tracking, including point assignment logic, scoring methodology, Samba MVR notifications, annual MVR reviews, and the system of record
  • Leads the Fleet Safety Committee and provides governance, reporting, and escalation support for fleet risk decisions
  • Analyzes frequency, severity, repeat drivers, and geographic trends to inform corrective actions, risk mitigation strategies, and reporting to executive leadership and insurance partners
  • Ensures alignment with TPAs, carriers, and the overall claims management strategy for auto losses

Management of External Partnerships & Provider Relations
  • Develops and maintains strong relationships with insurance brokers, carriers, TPAs, claims administrators, actuaries, loss control specialists, and consultants
  • Maintains all insurance policies, certificates, and records; provides regular reporting on program performance, claims activity and emerging risks
  • Serves as an active member of the Corporate Enterprise Risk Committee reporting to executive management
  • Represents and communicates the Company's insurance and risk programs to internal stakeholders and external partners

POSITION REQUIREMENTS
  • Bachelor's degree from an accredited university in Business Administration, Business Management, Risk Management, Insurance, Risk Control, or a related field. Master's Degree preferred
  • Professional Designations: Certified Risk Management Professional (CRMP), Certified Insurance Counselor (CIC), Associate in Risk Management (ARM), or Certified Risk Manager (CRM)
  • Minimum of 10 years of progressive risk and insurance management experience, preferably within the construction or investment real estate industry or a construction-focused insurance/bonding brokerage or insurance carrier environment
  • Demonstrated technical experience managing complex insurance and risk control programs, and large-scale claims portfolios
  • Previous experience successfully providing leadership and direction to a support team of risk management and claims management professionals
  • Strong leadership presence with the ability to advise and influence operational, legal, and executive management teams
  • Excellent written, verbal and presentation skills

The annual salary midpoint for this role is $195,000. We consider many factors when determining the actual hiring salary. These factors may include location, transferable skills, work experience, licensure and certification, business needs, internal equity, and market demands.
Pepper Construction is dedicated to offering our employees a comprehensive and best-in-class benefits package that prioritizes their physical, financial, and emotional well-being. We offer medical, dental, vision, life, and disability insurance plans, a generous 401k match, and a student loan repayment benefit. In addition to paid time off for company holidays, vacation, and personal days, Pepper offers fully paid medical and parental leave, mental health services, and more.
For additional information, visit www.pepperconstruction.com.
Pepper Construction is an Equal Employment Opportunity employer.
Please note: Pepper does not sponsor work visas.

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