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Insurance Risk Analyst Jobs in New Jersey (NOW HIRING)

DTCC

Market Risk Executive Director

Jersey City, NJ · On-site

Comprehensive health and life insurance and well-being benefits, based on location * Pension ... analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal ...

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All JobsInsurance Risk Analyst JobsInsurance Risk Analyst Jobs in New Jersey

Insurance Risk Analyst information

See New Jersey salary details

$49.7K

$84.5K

$158.4K

How much do insurance risk analyst jobs pay per year?

As of Jun 12, 2026, the average yearly pay for insurance risk analyst in New Jersey is $84,505.00, according to ZipRecruiter salary data. Most workers in this role earn between $66,000.00 and $87,800.00 per year, depending on experience, location, and employer.

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 between $60,000 and $80,000, with experienced professionals or those in senior roles earning over $100,000. Salaries vary based on experience, location, and certifications such as the Chartered Property Casualty Underwriter (CPCU).

What is the highest paid position in insurance?

In insurance, executive roles such as Chief Underwriting Officer, Chief Risk Officer, or Chief Executive Officer tend to be the highest paid positions, often earning six- to seven-figure salaries. These roles require extensive experience, leadership skills, and often advanced certifications or degrees, and they oversee strategic decision-making and risk management at the highest level.

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 policyholders' risk profiles, and using statistical tools. They help determine appropriate premiums and develop strategies to mitigate losses, often working with underwriting teams and utilizing risk management software.

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 several years of experience, depending on the employer and specific role. Entry-level risk analyst jobs typically require a bachelor's degree in finance, economics, or a related field, and may involve on-the-job training or certifications such as FRM or CRM. More advanced roles may require prior experience or specialized skills in data analysis or risk modeling.

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 New Jersey? For Insurance Risk Analyst jobs in New Jersey, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Analyst jobs in New Jersey look for? The top searched job categories for Insurance Risk Analyst jobs in New Jersey are:
What are popular job titles related to Insurance Risk Analyst jobs in NJ? For Insurance Risk Analyst jobs in NJ, the most frequently searched job titles are:
Insurance Risk Analyst jobs near you
Infographic showing various Insurance Risk Analyst job openings in New Jersey as of June 2026, with employment types broken down into 1% Locum Tenens, 1% Internship, 85% Full Time, 10% Part Time, and 3% Contract. Highlights an 82% Physical, 7% Hybrid, and 11% Remote job distribution, with an average salary of $84,505 per year, or $40.6 per hour.
Risk Management Analyst

Risk Management Analyst

Hackensack Meridian Health

Neptune, NJ • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 21 days ago

Hackensack Meridian Health rating

7.8

Company rating: 7.8 out of 10

Based on 352 frontline employees who took The Breakroom Quiz

130th of 871 rated healthcare providers

Job description

Overview
Our team members are the heart of what makes us better.
At Hackensack Meridian Health we help our patients live better, healthier lives - and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It's also about how we support one another and how we show up for our community.
Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.
The Risk Management Analyst (RMA) is responsible for investigating risk management events, reviewing and analyzing events in the ONElink event reporting system, assisting with proactive risk management educational initiatives, working on various insurance matters, as well as assisting with claims and litigation matters on a day-to-day basis for the various lines of coverage for multiple sites within the Hackensack Meridian Health Care System. The RMA shall be responsible for legal research, discovery requests, and maintenance of files and statistical reports. The RMA shall work closely with internal and external counsel, the medical claims TPA, and insurance broker representatives. This position interacts with all levels in the organization along with the Enterprise Risk Management team toward the goal of improving safe and trusted healthcare. This position reports to the Director, Enterprise Risk Management.
Responsibilities
A day in the life of a Risk Management Analyst at Hackensack Meridian Health includes:
  • Investigates risks involving actual or potential injury to patients, visitors and team members
  • Assists with the review, investigation, follow up and closure of ONElink event reports
  • Prepares and provides statistical data, graphs and various other reports from the ONElink system/other systems for Enterprise Risk Management and other ad hoc requests; presents and explains relevant trends, data, and outcomes to a variety of audiences.
  • Makes appropriate referrals to Managers, Internal Quality Improvement teams, Peer Review Committees for appropriate follow-up to reduce risk of recurrence.
  • Responsible for additions and deletions of team member access and updates in the ONElink system
  • Assists in the process of accepting Subpoenas, and Summonses and Complaints
  • Investigates and analyzes claims/litigation and potential claims upon receipt.
  • Obtains and sequesters evidence
  • Obtains visit history and pertinent medical records
  • Notifies the liability insurance carrier of actual and potential claims
  • Obtains insurance information and partners with insurance team to determine coverage analysis
  • Processes claims with the appropriate carrier(s) and broker within policy period
  • Obtains coverage determinations, and partners with the risk leader to resolve unfavorable determinations
  • Coordinates day-to day discovery (document production, interrogatories, scheduling interviews and depositions)
  • Maintaining a positive working relationship with the hospital's professional and general liability insurance carrier and general counsel.
  • Working in coordination with the Director of Risk Management reply to requests from the hospital's legal counsel.
  • Obtains reimbursement from carriers as appropriate on first party claims (eg., auto and property)
  • Maintains current knowledge of status of all claims and litigation matters and keeps Risk Management leaders/team apprised of changes
  • Performs legal research as needed
  • Keeps abreast of healthcare risk management issues, assisting with implementation of new or revised guidelines and practices 21. Maintains the confidentiality and integrity of all information encountered during work activities.
  • Audits expenses and processes payments as needed
  • Maintains up-to-date claims run at all times and updates relevant parties on a quarterly basis and as needed
  • Maintains appropriately organized litigation files; including electronic and paper claim files;
  • Prepares materials for quarter claim and steering committee meetings
  • Acts as a liaison with insurance brokers for requests from various department
  • Assists the Corporate Insurance Department with the professional liability insurance coverage process which includes collaboration with the Medical Staff Office, Human Resources and our insurance broker
  • Assists Corporate Insurance Department with the Due Diligence process and works with Physician Enterprise to assure appropriate documentation is received and reviewed
  • Notifies insurance broker of terminations/resignations of healthcare providers
  • Investigates all incidents related to vehicle and property claims in conjunction with insurance manager
  • Receives and investigates recall reports of medical device and product problems in collaboration with the Purchasing Dept
  • Represents the Enterprise Risk Management Department on various medical center committees as assigned
  • Participates in training of team members and in-services provided by the Enterprise Risk Management team
  • Adheres to HMH Organizational competencies and standards of behavior
  • Must work independently with general guidance on a wide variety of special projects
  • All other duties and projects as assigned to assist the Enterprise Risk Management Department to maintain daily activities of the departments.

Qualifications
Education, Knowledge, Skills and Abilities Required:
  • Minimum of Associates degree in Business, Insurance or related field or at least 5 years of related work experience in Risk, Paralegal, Insurance, or other related field
  • Proficient in Google Suite
  • Strong analytical and communication skills
  • Knowledge of legal and medical terminology
  • Excellent technological skills and organizational skills

Education, Knowledge, Skills and Abilities Preferred:
  • A minimum of 1 to 3 years of experience in risk management, claims, and/or insurance experience is preferred.
  • Experience working with Insurance Brokers and representatives preferred.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!
Starting Minimum Rate
Minimum rate of $56,430.40 Annually
Job Posting Disclosure
HMH is committed to pay equity and transparency for our team members. The posted rate of pay in this job posting is a reasonable good faith estimate of the minimum base pay for this role at the time of posting in accordance with the New Jersey Pay Transparency Act and does not reflect the full value of our market-competitive total rewards package.
The starting rate of pay is provided for informational purposes only and is not a guarantee of a specific offer. Posted hourly rates may be stated as an annual salary in the offer and posted annual salaries may be stated as an hourly rate in the offer, depending on the level and nature of the job duties and credentials of the candidate. The base compensation determined at the time of the offer may be different than the posted rate of pay based on a number of non-discriminatory factors, including but not limited to:
Labor Market Data: Compensation is benchmarked against market data to ensure competitiveness.
Experience: Years of relevant work experience.
Education and Certifications: Level of education attained, including specialized certifications, credentials, completed apprenticeship programs or advanced training.
Skills: Demonstrated proficiency in relevant skills and competencies.
Geographic Location: Cost of living and market rates for the specific location.
Internal Equity: Compensation is determined in a manner consistent with compensation ranges for similar roles within the organization.
Budget and Grant Funding: Departmental budgets and any grant funding associated with the job position may impact the pay that can be offered.
Some jobs may also be eligible for performance-based incentives, bonuses, or commissions not reflected in the starting rate. Certain positions may also be eligible for shift differentials for work performed on evening, night, or weekend shifts.
In addition to our compensation for full-time and part-time (20+ hours/week) job positions, HMH offers a comprehensive benefits package, including health, dental, vision, paid leave, tuition reimbursement, and retirement benefits.

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