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Insurance And Risk Management Jobs in Chicago, IL

DRiV

Insurance Risk Manager

Skokie, IL · On-site

Insurance Risk Manager Location: Southfield, MI or Skokie, IL(Hybrid) DRiV, Tenneco's Aftermarket ... Claims Management and Loss Control * Oversee the administration and resolution of property ...

DRiV

Insurance Risk Manager

Skokie, IL · Hybrid

Insurance Risk Manager Location: Southfield, MI or Skokie, IL(Hybrid) DRiV, Tenneco's Aftermarket ... Claims Management and Loss Control * Oversee the administration and resolution of property ...

PremiStar

Risk Manager

Deerfield, IL · On-site

This position requires a seasoned risk professional with deep property & casualty insurance expertise, executive-level claims management experience, and working knowledge of field operations and ...

Invenergy

Manager, Insurance (Captive)

Chicago, IL · On-site

Provide regulatory, insurance, risk management, underwriting expertise, and administrative captive management support. * Coordinate new placements and renewal efforts with brokers, consultants ...

Indeed

Senior Insurance Analyst

Chicago, IL · On-site

Maintain and update risk management documentation (e.g., certificates of insurance, local policies) to ensure accuracy and consistency across entities. * Partner with Finance to ensure premium ...

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All JobsInsurance And Risk Management JobsInsurance And Risk Management Jobs in Chicago, IL

Insurance And Risk Management information

See Chicago, IL salary details

$85K

$125.2K

$191.6K

How much do insurance and risk management jobs pay per year?

As of Sep 1, 2026, the average yearly pay for insurance and risk management in Chicago, IL is $125,168.00, according to ZipRecruiter salary data. Most workers in this role earn between $104,000.00 and $142,200.00 per year, depending on experience, location, and employer.

What is insurance and risk management?

Insurance and risk management is a field focused on identifying, assessing, and minimizing potential risks that individuals or organizations may face, as well as providing financial protection through insurance products. Professionals in this field analyze possible threats, develop strategies to mitigate them, and recommend appropriate insurance policies to cover potential losses. This helps businesses and individuals protect their assets, comply with regulations, and maintain financial stability in the face of unexpected events.

What are the key skills and qualifications needed to thrive as an insurance and risk management professional?

To thrive in Insurance and Risk Management, you need strong analytical abilities, a solid understanding of insurance principles, and typically a degree in finance, business, or a related field. Familiarity with risk assessment software, claims management systems, and relevant certifications such as CPCU (Chartered Property Casualty Underwriter) or ARM (Associate in Risk Management) are highly valued. Excellent communication, negotiation, and problem-solving skills help professionals build trust with clients and effectively manage complex situations. These skills are crucial for accurately assessing risk, developing sound policies, and ensuring organizational stability and client satisfaction.

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

Professionals in insurance and risk management often encounter challenges such as keeping up with evolving regulations, accurately assessing complex risks, and managing client expectations. Addressing these challenges requires continuous learning, leveraging new technologies for data analysis, and effective communication with clients and stakeholders. Team collaboration is also essential, as working closely with underwriters, actuaries, and claims specialists helps ensure comprehensive risk solutions and client satisfaction.

What is the difference between Insurance And Risk Management vs Insurance Underwriter?

AspectInsurance And Risk ManagementInsurance Underwriter
CredentialsCertifications like CRM, ARM, CPCU often preferredAdjustments vary; CPCU common but not mandatory
Work EnvironmentCorporate offices, risk assessment teamsUnderwriting departments, insurance companies
Industry UsageUsed across insurance, risk consulting, corporate risk teamsPrimarily within insurance companies for policy evaluation

Insurance And Risk Management professionals focus on identifying, analyzing, and mitigating risks for organizations, often working on strategic risk planning. Insurance Underwriters evaluate insurance applications and determine policy terms and premiums. While both roles involve risk assessment, Insurance And Risk Management has a broader scope, including risk control and management strategies, whereas Insurance Underwriters specialize in assessing individual insurance risks for policy issuance.

Is insurance and risk management a good career?

Insurance and risk management is a stable career that involves assessing and mitigating financial risks for individuals and organizations. It often requires strong analytical skills, certifications such as CPCU or ARM, and offers opportunities in various industries with potential for advancement and steady employment.

What do insurance and risk management risk managers do?

Insurance and risk management risk managers assess and analyze potential risks to an organization, develop strategies to mitigate those risks, and oversee insurance policies and claims. They use data analysis, risk assessment tools, and industry regulations to protect the company's assets and ensure compliance.

What jobs can you get with a degree in insurance and risk management?

A degree in insurance and risk management prepares individuals for roles such as insurance underwriters, risk analysts, claims adjusters, and insurance agents. These jobs involve evaluating risks, analyzing policies, and using industry-specific software, often requiring strong analytical skills and knowledge of insurance regulations.

What are popular job titles related to Insurance And Risk Management jobs in Chicago, IL?

For Insurance And Risk Management jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Insurance And Risk Management jobs in Chicago, IL look for?

The top searched job categories for Insurance And Risk Management jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Insurance And Risk Management jobs?

Cities near Chicago, IL with the most Insurance And Risk Management job openings:

Insurance And Risk Management jobs near you
Infographic showing various Insurance And Risk Management job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 74% Full Time, 20% Part Time, and 5% Contract. Highlights an 89% Physical, 2% Hybrid, and 9% Remote job distribution, with an average salary of $125,168 per year, or $60.2 per hour.

Insurance Risk Manager

Skokie, IL • On-site

DRiV
Motor Vehicle Manufacturing • 10K+ employees
Learn more about DRiVexternal

Full-time

Posted 15 days ago

Job description

Insurance Risk Manager
Location: Southfield, MI or Skokie, IL(Hybrid)
DRiV, Tenneco's Aftermarket business group, is a global leader with top-three market share positions across most of our product categories.
As a premier "House of Brands," DRiV represents more than 30 of the world's most trusted aftermarket names, including Monroe®, MOOG®, Wagner®, Walker®, Fel-Pro®, Champion®, Ferodo®, Payen®, and others, many with more than 100 years of heritage.
Our scaled and differentiated capabilities allow regional business lines to serve customers with precision while leveraging global manufacturing, engineering, and distribution strength. Approximately 75% of our revenue is positioned as a #1 brand within its product category.
Across shocks & struts, steering & suspension, braking, sealing, engine, emissions, and ignition systems, DRiV delivers quality, performance, and value that customers rely on worldwide.
At DRiV, we win through execution, innovation, and the power of our brands.
Position Summary
We are seeking an experienced Insurance Risk Manager to join DRiV's Global Treasury organization. Reporting to the Treasurer, this position will lead the Company's global insurance risk management programs while partnering with business leaders to identify, assess, mitigate, and monitor strategic, operational, financial, and insurable risks.
The successful candidate will oversee global insurance programs, broker relationships, claims management, and risk governance. This role will collaborate closely with Treasury, Legal, Finance, Tax, Human Resources, Environmental Health & Safety (EHS), Operations, Internal Audit, and external insurance brokers to protect the Company's assets and support its strategic objectives.
As DRiV establishes itself as an independent company, this position will play a critical role in designing scalable risk management processes, strengthening governance, and supporting acquisitions, treasury initiatives, and business transformation.
Key Responsibilities
Insurance Program Management
  • Lead the Company's global property, casualty, liability, cyber, directors & officers (D&O), cargo, environmental, and other commercial insurance programs.
  • Coordinate annual insurance renewals, policy placement, and coverage negotiations with brokers and insurance carriers.
  • Evaluate insurance program design, policy limits, deductibles, and alternative risk financing solutions to optimize protection and cost.
  • Monitor global insurance costs and recommend optimization opportunities.
  • Review contracts and insurance requirements to ensure appropriate risk transfer provisions.
  • Maintain strong relationships with insurance brokers, carriers, consultants, and third-party administrators.

Claims Management and Loss Control
  • Oversee the administration and resolution of property, casualty, workers' compensation, liability, and other insured claims.
  • Coordinate claim investigations with Legal, Human Resources, Operations, and EHS.
  • Monitor claim reserves, settlement strategies, and litigation support.
  • Develop and implement loss prevention programs to reduce frequency and severity of claims.
  • Maintain claims documentation and management reporting.

Treasury & Financial Risk Support
  • Partner with Treasury on financial risk management initiatives, including counterparty credit risk, banking risk assessments, and treasury operational risk.
  • Support Treasury governance initiatives related to internal controls, policy compliance, and regulatory requirements.
  • Participate in business continuity planning and operational resilience initiatives
  • Participate in treasury transformation and process improvement initiatives.

Business Continuity & Crisis Management
  • Support enterprise business continuity planning.
  • Coordinate insurance and risk support during major operational events.
  • Assist with disaster recovery planning and crisis response activities.
  • Develop post-event reviews and lessons learned.

Mergers, Acquisitions & Strategic Projects
  • Lead insurance and risk due diligence for acquisitions, divestitures, and restructuring activities.
  • Evaluate target company insurance programs and identify potential liabilities and coverage gaps.
  • Coordinate insurance integration activities following acquisitions.
  • Assess risk profiles and recommend mitigation strategies for strategic transactions.
  • Support Treasury and Finance during complex business transformation initiatives.

Governance, Compliance and Cross-Functional Leadership
  • Ensure compliance with insurance regulations, corporate governance requirements, and international risk standards.
  • Maintain insurance documentation, certificates of insurance, and policy records.
  • Coordinate internal and external audits related to insurance and risk management.
  • Develop and maintain risk management policies, procedures, and governance frameworks.
  • Serve as the primary liaison between Treasury and cross functional teams including Legal, Finance, EHS, Procurement. Internal Audit, and Operations.
  • Provide risk management guidance to business units and regional finance organizations.

Education
  • Bachelor's degree in Risk Management, Finance, Business Administration, Accounting, or related field.
  • CPCU, ARM, CRM, CTP, CPA, or equivalent professional designation preferred.

Qualifications
  • 8+ years of progressive experience in corporate risk management, insurance, treasury, or finance.
  • Strong knowledge of commercial insurance programs, policy language, and claims management.
  • Experience leading Enterprise Risk Management (ERM) programs.
  • Experience managing insurance brokers and third-party administrators.
  • Knowledge of multinational insurance programs and global risk financing strategies.
  • Strong analytical and financial skills with ability to evaluate complex risk scenarios.
  • Excellent project management, communication, and stakeholder relationship abilities.
  • Ability to influence senior leadership and work effectively across multiple business functions.
  • Proficiency with risk management software and enterprise systems.

Preferred Experience
  • Professional certifications such as CPCU, ARM, CRM, CTP, or CPA.
  • Experience with insurance renewals and broker negotiations.
  • Captive insurance or alternative risk financing solutions experience.
  • Treasury operational risk and financial controls expertise.
  • Mergers & acquisitions due diligence and risk integration experience.
  • Business continuity planning and crisis management expertise.
  • Claims analytics and loss trend reporting capabilities.
  • Experience in a multinational manufacturing or industrial environment.

Compensation: The base pay for this position generally ranges between $110,000 - $145,000. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.
Why Join DRiV?
This is a unique opportunity to help build DRiV's global risk management function during a transformational period as we establish an independent company. As Insurance & Enterprise Risk Manager, you will play a critical role in protecting the Company's people, assets, operations, and financial strength while helping shape our long-term risk management strategy.
This role goes beyond traditional insurance administration. You will partner with senior leaders across Treasury, Finance, Legal, Operations, Human Resources, and EHS to develop enterprise-wide risk solutions that support business growth and operational resilience.
If you're looking for an opportunity to make a meaningful impact while building a modern enterprise risk management function, DRiV offers the chance to shape the future of risk management in a dynamic global organization.

Apply