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Director Financial Risk Management Jobs in Illinois

Adyen

Senior Financial Risk Analyst

Chicago, IL · On-site

$125K - $170K/yr

As a member of our team, you will help us scale and innovate our financial risk management framework and processes. You will be working closely with the Commercial, Product and Legal teams while ...

powercon

Director of Risk Management

Chicago, IL

$150K - $175K/yr

The Director owns program design, renewals, and claims management while partnering with Operations, Safety, Legal, Finance, outside counsels and brokers to drive consistent risk decisions across the ...

powercon

Director of Risk Management

Chicago, IL

$150K - $175K/yr

The Director owns program design, renewals, and claims management while partnering with Operations, Safety, Legal, Finance, outside counsels and brokers to drive consistent risk decisions across the ...

Power Construction

Director of Risk Management

Chicago, IL · On-site

$150K - $175K/yr

The Director owns program design, renewals, and claims management while partnering with Operations, Safety, Legal, Finance, outside counsels and brokers to drive consistent risk decisions across the ...

Power Construction

Director of Risk Management

Chicago, IL · On-site

$150K - $175K/yr

The Director owns program design, renewals, and claims management while partnering with Operations, Safety, Legal, Finance, outside counsels and brokers to drive consistent risk decisions across the ...

Sinai Chicago

Director of Risk Management

Chicago, IL · On-site

The Director of Risk Management will collaborate closely with executive leadership, operational ... Lead insurance and risk financing programs, including policy management and claims oversight.

Sinai Chicago

Director of Risk Management

Chicago, IL · On-site

The Director of Risk Management will collaborate closely with executive leadership, operational ... Lead insurance and risk financing programs, including policy management and claims oversight.

CC Industries

Head of Risk Management

Chicago, IL · On-site

$350K - $420K/yr

Develop and direct production of reports and analyze financial results of the risk management program. * Develop training programs on insurance and risk management issues. * Spearhead risk management ...

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All JobsFinancial Risk Management JobsDirector Financial Risk Management JobsDirector Financial Risk Management Jobs in Illinois

Director Financial Risk Management information

See Illinois salary details

$52.3K

$138.7K

$251.9K

How much do director financial risk management jobs pay per year?

As of Sep 13, 2026, the average yearly pay for director financial risk management in Illinois is $138,749.00, according to ZipRecruiter salary data. Most workers in this role earn between $102,200.00 and $162,300.00 per year, depending on experience, location, and employer.

What does a director of financial risk management do?

A Director of Financial Risk Management is responsible for identifying, assessing, and mitigating financial risks that could impact an organization’s profitability and operations. They develop and implement risk management strategies, policies, and procedures to manage risks related to market fluctuations, credit, liquidity, and regulatory compliance. This role often involves working closely with senior executives, analyzing financial data, and ensuring the company adheres to risk-related regulations and standards. The director also leads a team of risk analysts and collaborates with other departments to promote a risk-aware culture throughout the organization.

What are the key skills and qualifications needed to thrive as a director of financial risk management, and why are they important?

To thrive as a Director of Financial Risk Management, you need deep expertise in finance, risk assessment, and regulatory compliance, often supported by a degree in finance or a related field and several years of relevant experience. Familiarity with risk modeling software, advanced Excel, and certifications such as FRM (Financial Risk Manager) or CFA are typically required. Strong analytical thinking, leadership, and effective communication are crucial soft skills for influencing stakeholders and managing teams. These skills ensure prudent risk oversight, regulatory adherence, and strategic decision-making to protect the organization's financial health.

What are the main challenges a director of financial risk management faces when aligning risk strategies across multiple departments?

A Director of Financial Risk Management often encounters the challenge of ensuring consistent risk assessment and mitigation strategies across various business units, each with its own priorities and risk appetites. This requires strong communication skills and the ability to build consensus among stakeholders, as well as staying current with regulatory changes and industry standards. Balancing the need for robust risk controls with the organization's overall business objectives can be complex, but collaboration with finance, operations, and compliance teams is key to implementing effective, enterprise-wide risk policies.

What is the difference between Director Financial Risk Management vs Risk Analyst?

AspectDirector Financial Risk ManagementRisk Analyst
CredentialsTypically requires advanced degrees (MBA, CFA), extensive experienceBachelor's or master's degree, relevant certifications (FRM, CFA)
Work EnvironmentStrategic leadership, executive meetings, cross-department collaborationData analysis, risk assessment, reporting
Employer & Industry UsageFinancial institutions, corporations, investment firmsBanks, insurance companies, asset management firms

The main difference is that the Director Financial Risk Management oversees risk strategies at an executive level, focusing on high-level decision-making, while Risk Analysts perform detailed risk assessments and data analysis to support those strategies. The director has broader responsibilities and requires more experience and credentials.

What does a director of financial risk management make?

A director of financial risk management typically earns a salary ranging from $120,000 to $200,000 annually, depending on experience, industry, and location. They often receive bonuses and benefits, and the role requires strong analytical skills, knowledge of financial instruments, and risk assessment tools.

What are the most commonly searched types of Financial Risk Management jobs in Illinois?

The most popular types of Financial Risk Management jobs in Illinois are:

What are popular job titles related to Director Financial Risk Management jobs in Illinois?

For Director Financial Risk Management jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Director Financial Risk Management jobs in Illinois look for?

The top searched job categories for Director Financial Risk Management jobs in Illinois are:

What cities in Illinois are hiring for Director Financial Risk Management jobs?

Cities in Illinois with the most Director Financial Risk Management job openings:

Director Financial Risk Management jobs near you
Infographic showing various Director Financial Risk Management job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 10% Part Time, and 2% Contract. Highlights an 84% Physical, 3% Hybrid, and 13% Remote job distribution, with an average salary of $138,749 per year, or $66.7 per hour.

Director of Risk Management

Oak Brook, IL

inlandgroup
See more jobs at inlandgroupexternal

Full-time

Re-posted 21 days ago

Key responsibilities

  • Oversee the placement, structure, and management of complex property & casualty insurance programs.

  • Manage claims processes to ensure effective resolution and cost control.

  • Lead, mentor, and develop the risk management team, including supervisory duties.

Job description

The Inland Real Estate Group of Companies, a diversified real estate, investment, and financial services organization, is seeking an experienced Director of Risk Management to lead and advance our enterprise-wide risk management strategy. This is a highly visible, senior-level role with broad exposure to executive leadership and multiple business lines across the organization.

Reporting directly to the Chief Risk Officer, EVP, the Director of Risk Management will oversee complex insurance programs, captive operations, claims management, and key financial and strategic risk initiatives. Inland Risk Management operates as a shared service model, offering the opportunity to collaborate closely with leaders across the firm and influence risk strategy at an enterprise level.

Key Responsibilities
  • Lead the placement, structure, and ongoing management of complex property & casualty insurance programs, including D&O/E&O, Cyber, EPL, Fiduciary, Crime, and Workers’ Compensation.
  • Oversee claims management, ensuring effective resolution and cost control.
  • Manage and grow a single-parent captive insurance program domiciled in Vermont, coordinating with brokers, captive managers, and internal stakeholders to maximize utilization and revenue opportunities.
  • Conduct comprehensive risk assessments and enterprise risk analysis, identifying exposures and developing mitigation strategies.
  • Support and participate in Enterprise Risk Management (ERM) and Environmental, Social & Governance (ESG) initiatives.
  • Develop and execute strategies for collateral recovery, strengthening financial outcomes and reducing losses.
  • Perform risk-related financial forecasting, providing insight and recommendations to support strategic decision-making.
  • Participate in group P&L reviews, analyzing trends, variances, and opportunities for improvement.
  • Serve as a key advisor to leadership on insurance market conditions, coverage optimization, and cost containment.
  • Develop, implement, and maintain risk management policies and procedures in alignment with regulatory and industry best practices.
  • Act as a key member of the Cyber Security Incident Response Team and ESG committee.
  • Lead, mentor, and develop the risk management team, fostering professional growth and continuous improvement.
  • Perform supervisory duties including hiring, performance management, coaching, promotion, and disciplinary actions.
  • Maintain the highest standards of professionalism, integrity, and compliance with all laws, policies, and regulations.
  • Perform other duties as assigned.
Supervisory Responsibility
  • Directly supervises two team members:
    • Administrative Assistant
    • Claims Specialist
Qualifications

Education

  • Bachelor’s degree with a concentration in Risk Management, Finance, or equivalent professional experience required

Experience

  • 10+ years of progressive experience in Risk Management, Claims, Loss Control, Insurance, and Financial Management
  • Demonstrated experience with captive insurance administration (required)

Licenses & Certifications

  • Property & Casualty License – required (or able to obtain within 1 year)
  • ARM (Associate in Risk Management) strongly preferred

Skills & Technical Expertise

  • Expert-level Microsoft Excel skills
  • Proficiency in Microsoft Word and Outlook
  • Experience with RMIS and TPA systems
  • Strong analytical, financial, and problem-solving skills
  • Excellent written and verbal communication abilities
  • Proven leadership skills with the ability to influence across diverse business groups
Why Join Inland
  • High-impact, enterprise-level leadership role
  • Exposure to executive leadership and multiple business platforms
  • Opportunity to shape and grow a sophisticated risk function and captive program
  • Stable, well-established organization with a long-term view

Apply