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Insurance Risk Analyst Jobs in Illinois (NOW HIRING)

General insurance support: * Assist with the preparation of monthly, quarterly, and annual risk reports for various committees and boards. Assist in preparing loss analyses and identifying ...

General insurance support: * Assist with the preparation of monthly, quarterly, and annual risk reports for various committees and boards. Assist in preparing loss analyses and identifying ...

General insurance support: * Assist with the preparation of monthly, quarterly, and annual risk reports for various committees and boards. Assist in preparing loss analyses and identifying ...

General insurance support: * Assist with the preparation of monthly, quarterly, and annual risk reports for various committees and boards. Assist in preparing loss analyses and identifying ...

As an Senior Actuary on the Pricing team, you will be working under the risk function with talented team members in modeling, risk analytics, decision engine, insurance and tech product. The Pricing ...

As an Senior Actuary on the Pricing team, you will be working under the risk function with talented team members in modeling, risk analytics, decision engine, insurance and tech product. The Pricing ...

Conduct market research and competitive analysis on cybersecurity providers, emerging technologies, cyber risk trends, and insurance market developments to support Marketplace strategy. * Support day ...

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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 1, 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:
Governance, Risk, & Compliance (GRC) Analyst (Senior or Lead)

Governance, Risk, & Compliance (GRC) Analyst (Senior or Lead)

Boeing

Chicago, IL • On-site

Full-time

Medical, Life, Retirement

Posted 19 days ago


Boeing rating

8.5

Company rating: 8.5 out of 10

Based on 598 frontline employees who took The Breakroom Quiz

35th of 527 rated manufacturers


Job description

Governance, Risk, & Compliance (GRC) Analyst (Senior or Lead)

Company:

The Boeing Company

Boeing currently has an opening for a Governance, Risk, & Compliance (GRC) Analyst (Senior or Lead) that will play a key role in developing and maintaining enterprise policies, standards, control frameworks, implementation procedures and control applicability mappings across applications, infrastructure, cloud environments, databases, shared resources, and information systems. The hybrid position is located in Seattle, WA but will consider candidates in Arlington, VA; Berkeley, MO; Charleston, SC; Chicago, IL; El Segundo, CA; Englewood, CO; Everett, WA; Kent, WA; Mesa, AZ; Plano, TX; Ridley Park, PA; San Francisco, CA, or Seal Beach, CA.

The ideal candidate possesses a strong blend of cybersecurity governance expertise, broad technical understanding, regulatory interpretation capabilities, and enterprise control framework experience.

Position Responsibilities:

  • Lead the development, maintenance, and continuous improvement of enterprise policies, standards, controls, and implementation procedures

  • Translate regulatory, contractual, and cybersecurity requirements into actionable governance and control requirements

  • Design, maintain, and optimize the enterprise control framework, including control rationalization, consolidation, and framework alignment activities

  • Partner with cybersecurity, infrastructure, engineering, cloud, application, data governance, privacy, and compliance teams to ensure governance requirements are practical, feasible, and align with business and operational needs

  • Provide subject matter expertise related to control intent, implementation expectations, regulatory interpretation, and governance best practices

  • Support governance modernization initiatives, ServiceNow IRM policy management, and control automation efforts to improve scalability, consistency, and efficiency

  • Develop and support control policies and strategies, prepare governance reporting, and communicate program status, priorities, and progress to stakeholders and leadership

Basic Qualifications(Required Skills/Experience):

  • 5+ years of experience in in Governance, Risk and Compliance (GRC), Information Technology (IT) Audit, Information Security, Vulnerability Management, and Compliance

  • 5+ years experience supporting enterprise technology environments including applications, infrastructure, cloud services, databases, networks, or identity and access management platforms

  • 3+ years experience writing enterprise policies, standards, controls and implementation procedures

  • 3+ years of experience leading governance transformation or enterprise control framework initiatives

  • Strong understanding of how enterprise technologies are deployed, operated, administered, and secured across different environments

  • Experience collaborating directly with engineering, infrastructure, cloud, application, or operations teams to develop practical and technically feasible implementation procedures

  • 3+ years of experience in cybersecurity and regulatory frameworks including NIST 800-53, NIST 800-171, CMMC, ISO, GDPR, ITAR or similar frameworks

  • Experience mapping controls to enterprise technology assets and environments

Preferred qualifications(Desired Skills/Experience):

  • 10 or more years of higher education and/or related work experience (Higher education includes college, university, technical school, licensing/certification programs, etc.)

  • Bachelor's degree in Cybersecurity, information Technology, Risk Management, Computer Science, or related field

  • Experience partnering with Legal, Privacy, Compliance, Internal Audit, or Regulatory Affairs teams to interpret and implement compliance obligations

  • Ability to lead cross-functional governance discussions with both technical and non-technical stakeholders

  • Experience with ServiceNow IRM or enterprise GRC platforms

  • Familiarity with CMDB, enterprise asset inventoried, and configuration concepts

  • Experience supporting control rationalization initiatives

  • Experience supporting highly regulated industries

  • Professional certifications such as CISSP, CGRC, CISA, CRISC

Conflict of Interest:

Successful candidates for this job must satisfy the Company's Conflict of Interest (COI) assessment process.

Drug Free Workplace:

Boeingis a Drug Free Workplace where post offer applicants and employees are subject to testing for marijuana, cocaine, opioids, amphetamines, PCP, and alcohol when criteria is met as outlined in our policies.

Pay & Benefits:

At Boeing, we strive to deliver a Total Rewards package that will attract, engage and retain the top talent. Elements of the Total Rewards package include competitive base pay and variable compensation opportunities.

The Boeing Company also provides eligible employees with an opportunity to enroll in a variety of benefit programs, generally including health insurance, flexible spending accounts, health savings accounts, retirement savings plans, life and disability insurance programs, and a number of programs that provide for both paid and unpaid time away from work.

The specific programs and options available to any given employee may vary depending on eligibility factors such as geographic location, date of hire, and the applicability of collective bargaining agreements.

Pay is based upon candidate experience and qualifications, as well as market and business considerations.

Summary pay range:

Senior - $130,900 - $189,750

Lead - $161,500 - $233,450

Language Requirements:

Not Applicable

Education:

Not Applicable

Relocation:

Relocation assistance is not a negotiable benefit for this position.

Export Control Requirement:

This position must meet U.S. export control compliance requirements. To meet U.S. export control compliance requirements, a "U.S. Person" as defined by 22 C.F.R. 120.62 is required. "U.S. Person" includes U.S. Citizen, U.S. National, lawful permanent resident, refugee, or asylee.

Safety Sensitive:

This is not a Safety Sensitive Position.

Security Clearance:

This position does not require a Security Clearance.

Visa Sponsorship:

Employer will not sponsor applicants for employment visa status.

Contingent Upon Award Program

This position is not contingent upon program award

Shift:

Shift 1 (United States of America)

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Boeing is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national origin, gender, sexual orientation, gender identity, age, physical or mental disability, genetic factors, military/veteran status or other characteristics protected by law.

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