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Insurance And Risk Management Jobs in Chicago, IL

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

FIRST Insurance Funding prides itself in its commitment to service. Not only do we provide ... or Management. The associate will make informed decisions based on Risk evaluation criteria.

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

$20.19 - $26/hr

FIRST Insurance Funding prides itself in its commitment to service. Not only do we provide ... or Management. The associate will make informed decisions based on Risk evaluation criteria.

Medline

Risk Management Engineer

Northfield, IL

$79K - $119K/yr

Responsible for managing an automated risk-based trending system that will help the organization ... Our benefit package includes health insurance, life and disability, 401(k) contributions, paid time ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

The Risk Director will lead incident investigations, manage compliance with regulations, and ... Company-paid Basic Life & AD&D insurance * Disability benefits * 401(k) Retirement Plan with a ...

New

Medline

Risk Management Engineer

Northfield, IL

$79K - $119K/yr

Responsible for managing an automated risk-based trending system that will help the organization ... Our benefit package includes health insurance, life and disability, 401(k) contributions, paid time ...

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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 Jul 23, 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 do risk managers do in insurance?

Risk managers in insurance identify, assess, and prioritize potential risks that could impact an organization. They develop strategies to mitigate or transfer these risks, often through policies, claims management, and risk analysis tools, to minimize financial losses and ensure regulatory compliance.

What is the highest paying job in the insurance industry?

Chief Risk Officer (CRO) is among the highest paying roles in the insurance industry, overseeing enterprise risk management and strategic decision-making. These executives typically have extensive experience, advanced degrees, and certifications such as FRM or CRM, and they often earn high six-figure or seven-figure salaries depending on the company size and location.

Is risk management and insurance a good career?

Risk management and insurance are stable career fields that offer opportunities in underwriting, claims, and consulting. They often require analytical skills, industry certifications, and knowledge of regulations, with job prospects influenced by economic conditions and industry demand.

What can you do with a risk management and insurance degree?

A degree in risk management and insurance prepares individuals for roles such as risk analyst, insurance underwriter, claims adjuster, or risk manager. These positions involve assessing and mitigating financial risks, analyzing data, and understanding insurance policies, often requiring knowledge of industry regulations and certifications like CPCU or ARM.

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 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 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.

What are the key skills and qualifications needed to thrive as an Insurance and Risk Management professional, and why are they important?

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 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 July 2026, with employment types broken down into 1% As Needed, 75% Full Time, 19% Part Time, and 5% Contract. Highlights an 93% Physical, 2% Hybrid, and 5% Remote job distribution, with an average salary of $125,168 per year, or $60.2 per hour.

Director of Risk Management

inlandgroup

Oak Brook, IL

Other

Posted 7 hours ago

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