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Insurance Risk Analyst Jobs in Illinois (NOW HIRING)

Senior IT Risk Analyst

Rosemont, IL · Hybrid

$98K - $110K/yr

Position Overview The Senior IT Risk Analyst (Audit concentration) role supports IT Risk Leadership ... Benefits Medical Insurance Dental Vision Life insurance Accidental death and dismemberment Short ...

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 ... The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ...

Insurance Coordinator

Chicago, IL · On-site

$58K - $68K/yr

Interacts with Corporate Insurance/Risk Management when needed to adjust contract requirements or complete internal waiver documentation. Essential Job Functions * Analyze and interpret lease and ...

Insurance Coordinator

Chicago, IL · On-site

$58K - $68K/yr

Interacts with Corporate Insurance/Risk Management when needed to adjust contract requirements or complete internal waiver documentation. Essential Job Functions * Analyze and interpret lease and ...

Enterprise Insurance Strategy * Lead administration and strategic oversight of all property ... Analyze claim frequency, severity, lag time, and emerging loss trends to drive corrective action ...

Risk Manager

Berwyn, IL · On-site

$78K - $121K/yr

Investigate, evaluate and analyze events that threaten or potentially threaten patient safety ... Input and monitor data in multiple Trinity insurance databases. * Participate in Trinity ...

Provide regulatory, insurance, risk management, underwriting expertise, and administrative captive ... Strong analytical and problem-solving skills and good attention to details. * Exceptional ...

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Showing results 1-20

Insurance Risk Analyst information

See Illinois salary details

$47.5K

$80.7K

$151.2K

How much do insurance risk analyst jobs pay per year?

As of Jul 22, 2026, the average yearly pay for insurance risk analyst in Illinois is $80,659.00, according to ZipRecruiter salary data. Most workers in this role earn between $63,000.00 and $83,800.00 per year, depending on experience, location, and employer.

How much does an insurance analyst make?

The average salary for an insurance risk analyst is around $70,000 to $85,000 per year, depending on experience, location, and certifications. Entry-level analysts typically earn less, while those with specialized skills or advanced credentials can earn higher salaries. Compensation may also include bonuses and benefits based on performance and company size.

What are some common challenges faced by Insurance Risk Analysts in evaluating emerging risks?

Insurance Risk Analysts often encounter challenges when assessing emerging risks such as cyber threats, climate change, or new technologies, as there may be limited historical data available. This requires them to continuously update their knowledge, collaborate with underwriters, actuaries, and external experts, and adopt advanced analytical tools to make informed recommendations. Staying proactive in identifying trends and adapting risk models is essential for success in this dynamic environment.

How much do risk analysts get paid?

Risk analysts in the insurance industry typically earn a median annual salary of around $70,000 to $90,000, depending on experience, location, and certifications. Entry-level positions may start lower, while experienced analysts with specialized skills can earn over $100,000 annually.

What are Insurance Risk Analysts?

Insurance Risk Analysts are professionals who assess and analyze potential risks that could affect an insurance company or its clients. They evaluate data and financial information to determine the likelihood and potential cost of events such as accidents, natural disasters, or other losses. Their work helps insurance companies set appropriate premiums and develop strategies to minimize financial loss. Insurance Risk Analysts also monitor trends and provide recommendations to reduce risk exposure.

What does a risk analyst do for an insurance company?

An insurance risk analyst evaluates potential risks that could affect an insurance company's financial stability by analyzing data, assessing risk exposure, and developing strategies to mitigate losses. They use statistical tools and industry knowledge to determine policy pricing and ensure the company's risk management aligns with regulatory standards.

What is the difference between Insurance Risk Analyst vs Insurance Underwriter?

AspectInsurance Risk AnalystInsurance Underwriter
Required CredentialsBachelor's degree in finance, economics, or related field; certifications like CPCU or ARM beneficialBachelor's degree in finance, economics, or related field; certifications like CPCU or ARM beneficial
Work EnvironmentAnalyzes data, assesses risks, and provides reports; often in an office settingEvaluates applications, determines policy terms, and approves or declines coverage; office-based
Employer & Industry UsageInsurance companies, risk management firms, consulting agenciesInsurance companies, brokerage firms, underwriting agencies

While both roles require similar credentials and work in the insurance industry, Insurance Risk Analysts focus on analyzing and quantifying risks to inform decision-making, whereas Insurance Underwriters evaluate individual applications to determine policy terms. Understanding these differences helps clarify career paths and employer expectations in the insurance sector.

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

To thrive as an Insurance Risk Analyst, you need strong analytical skills, a solid understanding of risk assessment methodologies, and typically a bachelor’s degree in finance, mathematics, or a related field. Familiarity with statistical software, risk modeling tools, and certifications such as Chartered Property Casualty Underwriter (CPCU) or Associate in Risk Management (ARM) are often required. Attention to detail, critical thinking, and effective communication are crucial soft skills for interpreting data and presenting findings to stakeholders. These skills ensure accurate risk evaluation, informed decision-making, and the development of effective risk mitigation strategies within insurance organizations.

Is risk analyst an entry level job?

A risk analyst position can be entry-level or require some experience, depending on the employer. Entry-level risk analyst roles typically require a bachelor's degree in finance, economics, or a related field, and may involve on-the-job training. Advanced roles may require additional certifications or experience in data analysis or risk management tools.

What Does an Insurance Risk Analyst Do?

An insurance risk analyst performs a variety of duties related to assessing risks your clients may undergo and how to insure them properly. You collect and analyze data, such as past claims in the industry, competitor pricing, and various risk management strategies to help your company keep costs down. Qualifications for the job include career training, education, and specialized skills. Typically, you need a bachelor’s degree in accounting or finance and some work experience in the industry. Important skills include an excellent eye for detail and strong analytical problem-solving.

What job categories do people searching Insurance Risk Analyst jobs in Illinois look for? The top searched job categories for Insurance Risk Analyst jobs in Illinois are:
What cities in Illinois are hiring for Insurance Risk Analyst jobs? Cities in Illinois with the most Insurance Risk Analyst job openings:
What are popular job titles related to Insurance Risk Analyst jobs in IL? For Insurance Risk Analyst jobs in IL, the most frequently searched job titles are:
Infographic showing various Insurance Risk Analyst job openings in Illinois as of July 2026, with employment types broken down into 89% Full Time, and 11% Part Time. Highlights an 94% In-person, and 6% Remote job distribution, with an average salary of $80,659 per year, or $38.8 per hour.
Senior IT Risk Analyst

Senior IT Risk Analyst

Wintrust

Rosemont, IL • Hybrid

$98K - $110K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 5 days ago


Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

60th of 150 rated banks


Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."

Why join us?

  • An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years)
  • Competitive pay and discretionary or incentive bonus eligible
  • Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few
  • Promote from within culture

Why join this team?

  • This position has the opportunity to interface with and have a positive impact on multiple areas of Wintrust's business
  • We hold ourselves accountable to high standards, share wins, operate ethically, and have fun
  • This team touches every IT process across the organization, you'll gain exposure to new technologies and initiatives as they're evaluated for risk.
  • You'll play a direct role in protecting the company from major financial and operational loss, while continually growing in your knowledge of Wintrust's evolving technology landscape.

Position Overview

The Senior IT Risk Analyst (Audit concentration) role supports IT Risk Leadership in maintaining a strong, healthy audit culture across IT globally. This role applies industry best practices and regulatory requirements to IT audit-related activities, while also contributing to the broader IT risk and controls landscape. You'll serve as a key liaison during audits and regulatory exams, coordinating across internal and external stakeholders and helping ensure the organization is well-prepared and well-represented. This is a hybrid role, reporting directly to the Principal IT Risk Analyst Manager.

What You'll Do

  • Lead audit and regulatory examination facilitation efforts by coordinating activities, fostering collaboration, and advocating between internal and external auditors, regulatory examiners, and key stakeholders.
  • Assist leadership in designing and developing appropriate performance metrics for audit related efforts.
  • Review submitted audit artifacts for completeness and provide effective challenge where appropriate.
  • Participate in mentoring and coaching IT team members, as well as inter-departmental partners, in educating on related IT audit related matters and processes.
  • Periodic execution of internal testing to validate IT controls beyond the audit facilitation function.
  • Mapping of technology risk and control library inventory utilizing Industry standard IT risk frameworks.

Qualifications

  • 5 - 8 years of experience in IT Risk Analysis.
  • Demonstrated experience with IT Governance, IT-related risk, and IT Risk Management.
  • Proficiency in Microsoft Office, Egnyte, and SharePoint.
  • Bachelors degree preferred.
  • CRISC or CISA certification, a plus.
  • Prior experience in financial services/banking or other regulated industry.
  • Working knowledge of IT risk frameworks.

Benefits

Medical Insurance Dental Vision Life insurance Accidental death and dismemberment Short-term and long-term Disability Insurance Parental Leave Employee Assistance Program (EAP) Traditional and Roth 401(k) with company match Flexible Spending Account (FSA) Employee Stock Purchase Plan at 5% discount Critical Illness Insurance Accident Insurance Transportation and Commuting Benefits Banking Benefits Pet Insurance

Compensation

The estimated salary range for this role is $98,000.00 - $110,000.00, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.


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