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Insurance Risk Analyst Jobs in Virginia (NOW HIRING)

Ascendant

Senior Risk Analyst (USTDA)

Arlington, VA

Ascendant is seeking a Senior Risk Analyst to support a multi-year contract we hold with the U.S ... firm, insurance company, or government entity * Strong knowledge of AML, sanctions, and anti ...

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Insurance Risk Analyst information

See Virginia salary details

$48.6K

$82.5K

$154.7K

How much do insurance risk analyst jobs pay per year?

As of May 29, 2026, the average yearly pay for insurance risk analyst in Virginia is $82,523.00, according to ZipRecruiter salary data. Most workers in this role earn between $64,400.00 and $85,800.00 per year, depending on experience, location, and employer.

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 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.

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.

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 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.

More about Insurance Risk Analyst jobs
What are popular job titles related to Insurance Risk Analyst jobs in Virginia? For Insurance Risk Analyst jobs in Virginia, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Analyst jobs in Virginia look for? The top searched job categories for Insurance Risk Analyst jobs in Virginia are:
What cities in Virginia are hiring for Insurance Risk Analyst jobs? Cities in Virginia with the most Insurance Risk Analyst job openings:
What are popular job titles related to Insurance Risk Analyst jobs in VA? For Insurance Risk Analyst jobs in VA, the most frequently searched job titles are:
Insurance Risk Analyst jobs near you
Infographic showing various Insurance Risk Analyst job openings in Virginia as of May 2026, with employment types broken down into 100% Full Time. Highlights an 74% In-person, 5% Hybrid, and 21% Remote job distribution, with an average salary of $82,523 per year, or $39.7 per hour.
Enterprise Risk Analyst

Enterprise Risk Analyst

Burke & Herbert Bank & Trust

Alexandria, VA • On-site

Full-time

Posted 28 days ago

Burke & Herbert Bank rating

5.6

Company rating: 5.6 out of 10

Based on 8 frontline employees who took The Breakroom Quiz

131st of 141 rated banks

Job description

CLASSIFICATION: Non-exempt


REPORTS TO: Regulatory Affairs Manager


DATE: April 30, 2026



JOB DESCRIPTION

Summary/Objective

The Enterprise Risk Analyst supports the execution and continued evolution of the Company’s Enterprise Risk Management (ERM) program, with specific focus on regulatory readiness to support anticipated continued growth. Reporting to the Regulatory Affairs Manager, this role provides advanced analytical, governance and program support to ensure risk management frameworks, documentation and reporting are appropriately scaled to meet heightened supervisory, governance and infrastructure expectations. The Enterprise Risk Analyst plays a key role in supporting risk management activities, including policy management, risk assessments, risk appetite, model risk management, issues management, insurance and ERM governance processes, while contributing to the development and implementation of sustainable, repeatable risk management practices.


Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


General / Governance

  • Serve as a key contributor to the execution, enhancement and ongoing maturity of the Company’s Enterprise Risk Management (ERM) framework, in alignment with Federal Reserve supervisory expectations.
  • Support governance of the ERM program by ensuring risk management activities are well documented, repeatable and supported by effective challenge and escalation processes.
  • Prepare and review ERM Committee materials, including risk appetite statements, dashboards/scorecards and related analyses, to support informed decision‑making and effective Board‑level oversight.
  • Act as a knowledgeable ERM resource to business partners, providing guidance on risk frameworks, documentation standards and regulatory expectations.
  • Contribute to change management initiatives impacting risk frameworks, processes, or governance, ensuring continued alignment with supervisory expectations and internal standards.
  • Assist the Regulatory Affairs Manager with drafting, updating and implementing related policies, procedures and processes.


Tactical Execution

  • Support regulatory examination activities by coordinating and tracking requests for materials, documenting key steps in the examination lifecycle, taking meeting notes and tracking remediation of examination findings.
  • Partner with Business Lines to facilitate non‑financial risk assessments, including risk identification, control evaluation, effective challenge and remediation tracking.
  • Partner with the Regulatory Affairs Manager to design and implement a Risk and Control Self‑Assessment (RCSA) framework that supports risk transparency and supervisory readiness.
  • Assist in monitoring adherence to the risk appetite framework, including tracking and ongoing escalation of metric breaches, as appropriate.
  • Support issues management processes across multiple sources and departments, with a focus on sustainable remediation and timely closure.
  • Analyze risk data and trends to support proactive identification of emerging risks and enhancements to risk reporting.
  • Provide support for model risk management activities, including model identification, maintenance of model inventories, documentation standards, issue tracking and Management/Board reporting.
  • Support the Company’s Policy Management process by helping establish and maintain the Policy Inventory, coordinating with policy owners to ensure timely updates, answering questions related to policy governance requirements and supporting adherence to required Board approval processes and timeframes.
  • Support administration of the Company’s insurance program, including annual renewals, coverage documentation, claims tracking, and payments.


Skills/Abilities

  • Strong organizational and attention-to-detail skills.
  • Ability to analyze and synthesize information across multiple risk domains.
  • Excellent written and verbal communication skills.
  • Strong Microsoft Office skills (Excel, Word, PowerPoint).
  • Experience working with SharePoint or similar document management platforms.
  • Ability to manage multiple priorities and deadlines in a collaborative environment.
  • Working knowledge of enterprise risk management concepts, regulatory risk or financial services risk practices preferred.


Other Duties

  • Perform other duties as assigned.

Supervisory Responsibility

This position does not have supervisory responsibilities.


Work Environment

This job operates in an office setting, the opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.


Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.


Travel

Limited local travel may be required for this position.

Education and Experience

  • Related Bachelor’s Degree, or equivalent additional related experience, required; Master’s degree preferred.
  • Two years of experience in a risk management, compliance or a similar role in the financial services industry.
  • Risk management and/or regulatory management certifications preferred.



Equal Employment Opportunity/M/F/disability/protected veteran status


Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.