Financial Risk Manager Jobs in Middleton, WI (NOW HIRING)

Salary : $118,695.46 - $143,147.42 Annually
Location : Madison Municipal Building, 215 Martin Luther King Jr. Blvd., Madison, WI
Job Type: PERMANENT FULL TIME
Job Number: 2026-00228
Department: Finance
Opening Date: 08/03/2026
Closing Date: 8/31/2026 11:59 PM Central
Comp. Group/Range: 18/17
General Description
UPDATE: THE COMPENSATION RANGE FOR THIS POSITION WAS CORRECTED ON 8/5/2026
The Risk Manager is a highly responsible managerial position that works in developing and administering the City's risk management program which includes, but is not limited to: the City's liability, property and workers' compensation programs; employee safety programs; and contract review. The position oversees the City's Safety Coordinator, Administrative Services Supervisor, and Risk Manager Assistant. Work is performed under the general supervision of the City Finance Director and is characterized by considerable independent judgment.
This position is regularly scheduled for 38.75 hours per week.
IMPORTANT: A COMPLETE APPLICATION WILL INCLUDE A COVER LETTER
(MAXIMUM OF TWO (2) PAGES) THAT ADDRESSES BOTH OF THE FOLLOWING POINTS:
1) Describe how your experience, knowledge, skills, and abilities have prepared you for this role;
2) Describe your approach to leadership.
If your submission exceeds two pages, only the first two pages will be considered.
**Applications received without the required cover letter will immediately be removed from consideration**
For more information about the Finance Department, please visit
Employees may be eligible for loan forgiveness through the Public Service Loan Forgiveness Program.
Black, Indigenous, people of color, women, trans, nonbinary, and individuals with disabilities are encouraged to apply. We value the unique blend of lived experiences and diverse perspectives that comes from non-traditional education pathways and the variety of transferrable skills each candidate brings to the table. We value diversity, equity, inclusion, and belonging. Even if every item on the job posting doesn't match your experience perfectly, we encourage you to apply and share how your skills and experience can best serve our community.
Examples of Duties and Responsibilities
Develop, Administer, and Oversee the City of Madison Risk Management Program

• Develop and oversee a risk management program which includes utilization of deductibles and large retentions, self-insurance, financial plans, and reinsurance.
• Prepare and/or contribute to strategic planning efforts in relationship to the insurance needs of the City.
• Administer the City's insurance program incorporating the purchase, renewal, claims oversight and policy detail for the City's and Community Development Authority (CDA)'s liability, property, worker's compensation, crime, and other miscellaneous coverages.
• Represent the City and CDA in related negotiations. Provide necessary liaison between the City and Wisconsin Municipal Mutual Insurance Company (WMMIC) and Municipal Property Insurance Company (MPIC). Participate in related committee efforts, as assigned.

Review Claims and Represent City in Subrogation Claims

• Review liability and property claims against the City and CDA for referral to appropriate carrier.
• Adjust and pay prescribed property damage claims through the City's Insurance Fund.
• Prepare related information for City attorneys, outside counsel and insurance adjusters.
• Represent/oversee City's subrogation efforts related to City vehicles and other property.
• Follow up to ensure claims are processed in an appropriate and timely manner.
• Manage the City's workers' compensation program, including managing the City's claim Third-Party Administrator (TPA).
• Participate in settlement discussions, mediations, hearings and trials regarding liability, property and workers' compensation claims.
• Investigate liability and property claims and prepare claims for filing with carriers.
• Discuss claims with claimants and provide information on how to file a claim and the City's liability.

Review of City Contracts and Ordinances

• Review City contracts for relevant risk management provisions.
• Review, approve, and make changes to contracts with language affecting risk management.
• Review, approve, and make changes to draft contracts for insurance and indemnification language.
• Review and offer changes to City ordinances in the area of insurance and indemnification.
• Review insurance certificates to determine compliance with contract and City permit requirements.

Administer the City Insurance and Workers' Compensation Funds

• Establish premiums for departmental contributions.
• Estimate necessary reserves for future claims handling.
• Process invoices for payment. Monitor fund activity and recommend remedial action as required.
• Provide assistance in related budgeting efforts.

Coordinate City Loss Prevention Efforts

• Manage the City's Safety Coordinator.
• Serve as the City's HIPAA Security Officer.
• Coordinate loss prevention efforts within assigned program areas.
• Meet with agencies to share loss prevention data and recommend methods to reduce risk, both with managers and within appropriate committee structures.
• Review City loss control policies.
• Serve in an advisory capacity on department safety committees.
• Provide training on City policies and claim reporting policies.

Perform other related duties as required
Minimum Qualifications

• Four (4) years of experience in applying the following:
  • Theory, principles, practices, methods, and markets of liability property, casualty, and other types of commercial insurance.
  • State and federal laws and ordinances relating to insurance management including rules, rates, forms, policy coverage, and statutory regulations.
  • Various methods and systems of governmental insurance and risk management.
  • Computer software applicable to the duties of the position; AND
• Two (2) years of experience in applying the following:
  • Insurance industry principles, practices, and methods relative to pricing, loss ratios, claims procedures, loss prevention, etc.; AND
  • The full range of principles and practices related to supervision, labor relations, and personnel management.

-OR-

• Four (4) years of responsible professional experience in the administration of a directly related insurance program; AND
• Associate's (or higher level) degree in insurance, risk management, economics, business administration, or a closely related field.

Other equivalent combinations of training and/or experience which can be demonstrated to result in the possession of the knowledge, skills, and abilities necessary to perform the duties of this position will also be considered.
The City of Madison strives to provide exceptional customer service to all its residents and visitors. Therefore, successful candidates will have demonstrated ability to effectively work with multicultural communities.
For a complete list of the Knowledge, Skills, and Abilities, please see the class specification. Please note that the class specification is in the process of being updated due to a reclassification of this position from Compensation Group 18/Range 15 to Compensation Group 18/Range 17.
Special Requirements
Ability to meet the transportation requirements of the position.
The employee may be expected to attend meetings and provide presentations outside the normal work schedule, including evenings and weekends.
Physical Requirements:

• Work in this position is primarily sedentary, requiring the ability to sit/stand at a desk, work on a computer, and use a monitor for extended periods of time.
• The employee will be expected to physically visit other City departments and worksites throughout the City in order to meet with staff, assist with safety studies, perform property inspections, take pictures, and perform other needs. This may involve walking over various terrains, including hilly, muddy, and snowy terrain. Work may be performed in all weather conditions and may involve dangerous chemicals, heavy machinery, and other hazardous conditions.

The City of Madison offers excellent pay and benefits for employees. City Ordinances, handbooks, and labor contracts provide specifics; the description here is not to be considered a binding statement but offers an informal summary.
Compensation
The City of Madison strives to pay competitive wages. View the current for pay for all classifications. Employees receive increases based on tenure with the City.
Benefits
The City offers a competitive benefits package, including a generous leave package, a variety of insurance options, and non-traditional benefits such as optional pet insurance, a bus pass for all employees, and the possibility of flexible work schedules. A brief summary of benefits is listed below. Please visit our for more information.
Leave
Vacation is earned upon starting employment and can be used after completion of probation. The general vacation schedule is below.
0-3 years 10 work days of vacation
After 3 years 12-1/2 days
After 7 years 15 days
After 11 years 17-1/2 days
After 15 years 20 days
After 19 years 25 days
After 27 years 27 days
Employees earn 3.5 personal days in addition to vacation.
Employees receive eight official paid holidays (New Year's Day, Martin Luther King, Jr. Holiday, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving, Christmas Day), as well as 3 paid leave days (the Friday after Thanksgiving, Christmas Eve, New Year's Eve).
Employees also earn 13 sick days annually that may accrue to a total of 150 days.
Retirement
The City of Madison participates in the Wisconsin Retirement System through the State of Wisconsin Department of Employee Trust Funds.
Insurance
The City of Madison offers a variety of optional insurance programs including:

• Health Insurance
• Dental Insurance
• Vision Insurance
• Pet Insurance
• Life Insurance
• Income Continuation Insurance (for short and long-term disability)
• Long Term Care Insurance

Other Benefits
The City offers numerous other benefits and programs for employees, including:
• 457(b) deferred compensation plans
• Employee Assistance Program
• Bus Pass on Madison Metro
• Flexible Work Schedules
• Employer-paid Training
01
Your two (2) page cover letter that addresses the following two (2) points is uploaded in the Attachments section of the application:1) Describe how your experience, knowledge, skills, and abilities have prepared you for this role; AND2) Describe your approach to leadership.Applications submitted without this required cover letter or with a response that fails to address both of the above points will immediately be removed from consideration.Your submission is limited to two (2) pages. If your submission exceeds two pages, only the first two pages will be considered.

• Agreed

Required Question