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Insurance Risk Analyst Jobs in Virginia (NOW HIRING)

Robert Half

Risk Analyst

Richmond, VA · On-site

$40 - $55/hr

... insurance carriers. • Experience performing audits, claims reviews, or compliance assessments within risk management or insurance environments. • Ability to analyze financial, operational, and ...

Brookfield

Risk Analyst

Richmond, VA

Argo and Farm Family partner with agents and brokers to provide insurance solutions that enable businesses to manage risks with confidence. The Enterprise Risk Analyst supports the development ...

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All JobsInsurance Risk Analyst JobsInsurance Risk Analyst Jobs in Virginia

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 Jul 9, 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.

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 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 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

Risk Analyst

Argonaut Management Services, Inc

Richmond, VA • On-site

Other

Medical, Dental, Vision, Retirement, PTO

This job post has expired 1 day ago. Applications are no longer accepted.

Job description

Company

Shared Services

Argo and Farm Family are specialty property and casualty insurance brands whose underwriting companies are wholly-owned subsidaries of Clearbrook Holdings Inc. Argo and Farm Family partner with agents and brokers to provide insurance solutions that enable businesses to manage risks with confidence.


Job Description

The Enterprise Risk Analyst supports the development, implementation, and continuous enhancement of the organization's Enterprise Risk Management (ERM) framework within a property and casualty insurance environment. This role is responsible for assisting in the identification, assessment, monitoring, and reporting of enterprise risks in alignment with regulatory expectations (e.g., NAIC ORSA), industry standards, and internal governance practices.

The Analyst partners cross-functionally with the various departments of Clearbrook Group to enhance risk visibility, strengthen control effectiveness, and support risk-informed decision making. This role contributes to both strategic and operational risk initiatives, with a focus on current and emerging risks impacting the organization.

We are open to considering candidates with a range of experience levels; the final level will be determined based on the candidate's qualifications, experience, and business needs. Compensation will be commensurate with experience and aligned to the level at which the candidate is hired.

This is a 100% in-office position. The role requires consistent on-site presence to support collaboration, real-time decision-making, and effective partnership with cross-functional teams.

KEY ACCOUNTABILITIES

Risk Identification & Assessment

  • Support enterprise-wide risk identification and assessment processes, including Risk and Control Self-Assessments (RCSAs), risk registers, and emerging risk identification
  • Evaluate inherent and residual risks across key categories, including insurance, operational, financial, and strategic risks
  • Maintain and enhance risk taxonomies aligned with NAIC and COSO ERM frameworks
  • Participate in cross-functional engagements to support risk identification, assessment, and monitoring activities
  • Contribute to the design, implementation, and ongoing improvement of the ERM framework
  • Support the Own Risk and Solvency Assessment (ORSA) process, including documentation, reporting, and governance alignment
  • Maintain ERM policies, standards, and procedures to ensure regulatory compliance and audit readiness
  • Support governance activities, including preparation of materials and documentation for risk committees and working groups
  • Collect, aggregate, and analyze risk data arising from risk assessments and business processes
  • Support development and refinement of key risk indicators (KRIs) and risk metrics
  • Perform research and analysis to support enterprise risk initiatives and emerging risk evaluations
  • Capture and track risk events, near misses, and loss data to support risk trend analysis
  • Maintain risk registers, KRIs, and risk appetite metrics
  • Prepare risk reporting for senior management, risk committees, and the Board
  • Track risk issues, control gaps, and remediation activities to support timely resolution
  • Maintain ERM dashboards and support ongoing reporting and analytics initiatives
  • Support regulatory and rating agency reporting, including ad hoc requests
  • Partner with first- and second-line functions to evaluate control design and operating effectiveness
  • Support the development and maintenance of standardized control libraries aligned with SOX, MAR, and NAIC expectations
  • Identify control gaps and recommend practical, risk-based mitigation strategies
  • Support regulatory exam readiness and response activities (e.g., state Department of Insurance examinations)
  • Ensure ERM documentation is accurate, current, and defensible
  • Monitor regulatory developments and assess impacts to the ERM framework
  • Engage with underwriting, claims, actuarial, finance, IT, and legal & compliance teams to embed risk management practices
  • Support enterprise initiatives related to operational risk, third-party risk, model risk, AI risk, and IT risk
  • Facilitate risk discussions, workshops, and training sessions as appropriate

QUALIFICATIONS

Required

  • Bachelor's degree in risk management, finance, accounting, insurance, business, mathematics, or related field
  • 2-5 years of experience in risk management, internal audit, compliance, or insurance operations
  • Familiarity with insurance regulatory requirements, including NAIC guidance and ORSA

Preferred

  • Experience within a Property & Casualty insurance organization
  • Working knowledge of enterprise risk management frameworks (COSO ERM, ISO 31000)
  • Exposure to SOX, Model Risk Management (SR 11-7), AI Risk Management (NIST AI RMF), or IT GRC frameworks
  • Progress toward or completion of professional certifications (ARM, CRM, CERA, etc.)

KEY COMPETENCIES

  • Strong analytical and critical thinking skills with attention to detail
  • Ability to translate complex risk concepts into clear, actionable insights
  • Effective written and verbal communication skills for senior audiences
  • Collaborative mindset with strong relationship-building capabilities
  • Strong organizational skills and ability to manage multiple priorities
  • Results-oriented with a proactive approach to problem-solving
  • Proficiency in Microsoft Office (Excel, PowerPoint, Word) and data analysis tools
  • Ability to manage multiple priorities in a dynamic environment

The salary range provided reflects targeted hiring locations and will be commensurate with the candidate's experience, skills, and qualifications. Compensation may vary for candidates in other locations based on geographic differentials, cost of labor, and internal equity considerations.

  • New York City, NY: $77,500.00 - $102,000.00
  • Chicago, IL: $71,000.00 - $93,500.00
  • All Other Geographic Locations: $65,000.00 - $85,000.00

Candidates must be legally authorized to work in the United States at the time of application. This role is not eligible for employer-sponsored work authorization now or in the future.


PLEASE NOTE:

Applicants must be legally authorized to work in the United States. At this time, we are not able to sponsor or assume sponsorship of employment visas.


If you have a disability under the Americans with Disabilities Act or similar state or local law and you wish to discuss potential reasonable accommodations related to applying for employment with us, please contact our Benefits Department at 210-321-8400.


Benefits and Compensation

We offer a competitive compensation package, performance-based incentives, and a comprehensive benefits program-including health, dental, vision, 401(k) with company match, paid time off, and professional development opportunities.


Core Values

At Clearbrook our Core Values are Integrity, Collaboration, Pursuit of Excellence and Forward Thinking. These values reflect who we are today and who we apsire to be - guiding how we work, how we lead and how we succeed.


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