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Insurance Risk Analyst Jobs in Minnesota (NOW HIRING)

Beacon Mobility

Risk Manager

Maple Grove, MN · On-site

$150K/yr

... Insurance - Wholly owned captives - Collateral negotiation - Actuarial analysis (does not need to ... in risk management, security operations, or a related field - Intermediate Microsoft Suite ...

Donaldson Company, Inc.

Risk Manager

Bloomington, MN · Hybrid

$93K - $122K/yr

The Risk Manager partners closely with the Director of Risk Management to support the ... analysis * Manage certificates of insurance, policy documentation, and related compliance ...

Donaldson Company

Risk Manager

Bloomington, MN · On-site

$93K - $122K/yr

The Risk Manager partners closely with the Director of Risk Management to support the ... analysis * Manage certificates of insurance, policy documentation, and related compliance ...

Donaldson Company, Inc.

Risk Manager

Bloomington, MN · On-site

$93K - $122K/yr

The Risk Manager partners closely with the Director of Risk Management to support the ... analysis * Manage certificates of insurance, policy documentation, and related compliance ...

Veterinary Pet Insurance

... agriculture insurance lines and their market position. With minimal supervision, this role ... May be asked to research, analyze and evaluate favorability of select industries or classes of ...

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All JobsInsurance Risk Analyst JobsInsurance Risk Analyst Jobs in Minnesota

Insurance Risk Analyst information

See Minnesota salary details

$48K

$81.5K

$152.8K

How much do insurance risk analyst jobs pay per year?

As of Jul 9, 2026, the average yearly pay for insurance risk analyst in Minnesota is $81,523.00, according to ZipRecruiter salary data. Most workers in this role earn between $63,700.00 and $84,700.00 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.

More about Insurance Risk Analyst jobs
What are popular job titles related to Insurance Risk Analyst jobs in Minnesota? For Insurance Risk Analyst jobs in Minnesota, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Analyst jobs in Minnesota look for? The top searched job categories for Insurance Risk Analyst jobs in Minnesota are:
What are popular job titles related to Insurance Risk Analyst jobs in MN? For Insurance Risk Analyst jobs in MN, the most frequently searched job titles are:
Insurance Risk Analyst jobs near you
IT Cyber Security Risk Analyst

IT Cyber Security Risk Analyst

Cretex Companies, Inc.

Elk River, MN • On-site

$60K - $91K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 14 days ago

Job description

Overview
The Cybersecurity Risk Analyst is a key member of the Digital & IT team, helping drive a culture of cybersecurity, improve risk posture, and enhance user-focused security practices across the enterprise.
This individual will serve as a backup to the Security Engineer(s), assisting with incident response, employee support, and cybersecurity projects. They will lead efforts to improve employee cybersecurity awareness, champion a Zero Trust approach to access and identity management, and help ensure business continuity and disaster recovery plans are in place, tested, and improved over time.
This role blends hands-on technical support with program management and education, making it ideal for someone who is both people-oriented and detail-driven.
Responsibilities
Essential Job Functions
Security Operations Support
  • Act as a secondary resource for daily security monitoring, incident response, and vulnerability remediation.
  • Assist in configuring and managing tools related to endpoint protection, logging, email security, and access control.
  • Help execute security-related projects, such as patching programs, encryption rollouts, and policy enforcement.

Access Management & Zero Trust Initiatives
  • Help assess and improve identity and access management practices across systems.
  • Partner with IT teams to implement role-based access controls and Just-In-Time access principles.
  • Lead projects and process design supporting Zero Trust architecture, especially for remote access and SaaS tools.
  • Participate in account reviews and privilege audits to ensure appropriate access levels.

Cybersecurity Awareness & Culture
  • Develop and lead training and awareness campaigns to reduce employee-related cyber risk.
  • Manage phishing simulation programs and track effectiveness.
  • Deliver cybersecurity onboarding for new employees and ongoing training for all staff.
  • Serve as the go-to contact for employee questions related to phishing, passwords, or safe technology use.

Risk Management & Resilience
  • Own the development and maintenance of Business Continuity and Disaster Recovery plans.
  • Facilitate tabletop exercises and capture lessons learned to enhance resilience.
  • Collaborate with IT and business leaders to identify and reduce operational risk.
  • Contribute to regulatory, insurance, and customer security documentation as needed.

Governance, Policy, and Metrics
  • Assist in drafting and maintaining cybersecurity policies and procedures.
  • Track and report on training compliance, incidents, and risk KPIs.
  • Stay current on emerging cyber threats and security trends, providing proactive recommendations.
  • Coordinate with external vendors (e.g., MDR, IAM, phishing) and internal teams to support tool effectiveness and projects.

Qualifications
Minimum Requirements, Education & Experience (incl. KSA's and certifications)
  • Bachelor's degree in Cybersecurity, Information Technology, or a related field
  • 2+ years in IT or cybersecurity roles, ideally with experience in user support, IAM, or risk management
  • Excellent communication and teaching skills; comfortable presenting to technical and non-technical audiences
  • Familiarity with Zero Trust concepts and tools (e.g., MFA, identity providers, conditional access)
  • Working knowledge of phishing, endpoint protection, and threat mitigation techniques
  • Strong organizational and documentation skills

Desirable Criteria & Qualifications
  • Security certifications (e.g., Security+, SSAP, GSEC, or similar)
  • Experience with identity & access management tools (e.g., Azure AD, Okta, Duo, etc.)
  • Experience managing phishing simulation platforms (Mimecast, KnowBe4)
  • Familiarity with business continuity planning and disaster recovery best practices
  • Experience conducting or facilitating tabletop exercises
  • Exposure to NIST, ISO 27001, or CIS Controls frameworks
  • Manufacturing, regulated industry, or multi-site IT experience

#LI-JW1
Pay Range
USD $60,800.00 - USD $91,200.00 /Yr.
Pay Range Details
This pay range reflects the base hourly rate or annual salary for positions within this job grade, based on our market-based pay structures. Actual compensation will depend on factors such as skills, relevant experience, education, internal equity, business needs, and local market conditions. While the full hiring range is shared for transparency, offers are rarely made at the minimum or maximum of the range.
Company Benefits
All Employees:
Our 401k retirement savings plan with a company match contribution; onsite health clinics, discretionary holiday bonus program (based on years of service), Cretex University, 24/7 employee assistance program with access to five confidential visits with a licensed counselor at no cost, wellness program with incentives, an employee death benefit, and employee sick and safe leave are available to all Cretex employees.
20+hours:
Cretex's medical benefit package includes: comprehensive medical insurance with access to virtual providers; dental insurance (Little Partners Dental benefit covers services 100 percent for children 12 and younger when seen by a Health Partners in network provider); vision insurance; a pre-tax health savings account, healthcare and dependent care pre-tax reimbursement accounts; paid holidays, paid time off; and our discretionary profit sharing program are available to employees working 20+ hours/week.
30+ hours:
Parental Leave, accident and critical illness benefits, optional employee, spouse, and child life; short and long term disability; company provided life insurance; and tuition assistance programs are available to employees working 30+ hours per week.
(Some benefits are subject to eligibility criteria.)
Applicants will receive consideration for employment regardless of their race, color, creed, religion, national origin, sex, sexual orientation, gender identity, disability, age, veteran status, marital status, family status, status with regard to public assistance, or any other protected status as required by law.
Our company uses E-Verify to confirm the employment and eligibility of all newly hired employees. To learn more about E-Verify, including your rights and responsibilities, please visit www.dhs.gov/E-Verify.

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