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Insurance Risk Manager Jobs in Illinois (NOW HIRING)

DRiV

Insurance Risk Manager

Skokie, IL · On-site

Insurance Risk Manager Location: Southfield, MI or Skokie, IL(Hybrid) DRiV, Tenneco's Aftermarket business group, is a global leader with top-three market share positions across most of our product ...

DRiV

Insurance Risk Manager

Skokie, IL · Hybrid

Insurance Risk Manager Location: Southfield, MI or Skokie, IL(Hybrid) DRiV, Tenneco's Aftermarket business group, is a global leader with top-three market share positions across most of our product ...

PremiStar

Risk Manager

Deerfield, IL · On-site

The Risk Manager is responsible for leading the organization's enterprise insurance strategy, claims management oversight, and risk mitigation initiatives within a multi-state HVAC and MEP service ...

Arrive Logistics

Risk Manager

Chicago, IL · On-site +1

In this role, you won't just be managing risk behind a screen; you will be the bridge between the ... level insurance requirements, and audit compliance. * Cross-Functional Collaboration: Partner ...

Arrive Logistics

Risk Manager

Chicago, IL · On-site

In this role, you won't just be managing risk behind a screen; you will be the bridge between the ... level insurance requirements, and audit compliance. * Cross-Functional Collaboration: Partner ...

Capital One

Risk Manager

Riverwoods, IL · On-site

Risk Manager As part of Enterprise Risk Management (ERM), you will work with talented associates to ensure our businesses effectively adhere to Capital One's Risk Management Framework. This role ...

International Motors, LLC

Senior Risk Manager

Lisle, IL · On-site

$138K - $207K/yr

This position will own the insurance purchasing cycle, manage external partners (brokers, insurers, TPAs), and oversee claims governance while driving measurable reductions in total cost of risk ...

NorthShore

Clinical Risk Manager

Evanston, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Liaising with insurance providers and legal counsel as needed Other * Address and assist the ...

Endeavor Health

Clinical Risk Manager

Evanston, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Liaising with insurance providers and legal counsel as needed Other * Address and assist the ...

Capital One

Manager, Risk Manager

Riverwoods, IL · On-site

Manager, Risk Manager Are you ready to lead from the front line of a top 10 bank? Do you thrive in a high-visibility environment where your strategic relationship-building and rigorous audit ...

Endeavor Health

Clinical Risk Manager

Wilmette, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Liaising with insurance providers and legal counsel as needed Other * Address and assist the ...

Endeavor Health

Clinical Risk Manager

Highwood, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Liaising with insurance providers and legal counsel as needed Other * Address and assist the ...

Endeavor Health

Clinical Risk Manager

Glenview, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Liaising with insurance providers and legal counsel as needed Other * Address and assist the ...

NorthShore

Clinical Risk Manager

Chicago, IL · On-site

$42.54 - $65.94/hr

The Clinical Risk Manager is responsible for the review, investigation and prioritization of ... Identify potential insurance claims, including tracking, reporting, and coordinating resolution ...

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All JobsInsurance Risk JobsInsurance Risk Manager JobsInsurance Risk Manager Jobs in Illinois

Insurance Risk Manager information

See Illinois salary details

$79.9K

$117.7K

$180.2K

How much do insurance risk manager jobs pay per year?

As of Sep 2, 2026, the average yearly pay for insurance risk manager in Illinois is $117,742.00, according to ZipRecruiter salary data. Most workers in this role earn between $97,900.00 and $133,700.00 per year, depending on experience, location, and employer.

What does an Insurance Risk Manager do?

An Insurance Risk Manager is responsible for identifying, assessing, and mitigating risks that could negatively impact an organization’s assets, operations, or reputation. They analyze various types of risks—including financial, operational, and compliance risks—and develop strategies to minimize potential losses. Insurance Risk Managers also advise on appropriate insurance coverage, negotiate policies with insurers, and ensure that the company complies with relevant regulations to protect against unforeseen events.

What are the key skills and qualifications needed to thrive as an Insurance Risk Manager?

To thrive as an Insurance Risk Manager, you need expertise in risk assessment, analytical thinking, and a strong understanding of insurance principles, often supported by a relevant degree and certifications like ARM or CPCU. Familiarity with risk modeling software, statistical analysis tools, and regulatory compliance systems is typically required. Strong communication, decision-making, and problem-solving skills help you effectively advise stakeholders and manage complex risk scenarios. These abilities are crucial for identifying, evaluating, and mitigating risks to protect organizational assets and ensure regulatory compliance.

What are the most common challenges Insurance Risk Managers face when working across different departments?

Insurance Risk Managers often collaborate with various departments such as underwriting, claims, and compliance to identify and mitigate potential risks. One common challenge is ensuring clear communication and alignment of risk policies across teams that may have different priorities or levels of risk awareness. Balancing regulatory requirements with business objectives can also be complex, requiring strong negotiation and relationship-building skills. Successfully navigating these challenges helps create a unified risk culture and strengthens the organization's overall resilience.

What is the difference between Insurance Risk Manager vs Insurance Underwriter?

AspectInsurance Risk ManagerInsurance Underwriter
CredentialsTypically requires a bachelor's degree in risk management, finance, or related fields; professional certifications like ARM or CPCU are commonUsually holds a bachelor's degree in finance, economics, or related areas; certifications like CPCU or ARe are beneficial
Work EnvironmentWorks in corporate risk management departments, analyzing and mitigating risks for the companyWorks in insurance companies, assessing individual or business applications to determine coverage and premiums
Employer & Industry UsageUsed by insurance companies and large corporations to manage risk exposurePrimarily employed by insurance carriers to evaluate and approve insurance policies

While both roles involve understanding insurance policies, the Insurance Risk Manager focuses on overall risk mitigation strategies within an organization, whereas the Insurance Underwriter evaluates individual insurance applications to determine coverage and pricing.

What are popular job titles related to Insurance Risk Manager jobs in Illinois?

For Insurance Risk Manager jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Insurance Risk Manager jobs in Illinois look for?

The top searched job categories for Insurance Risk Manager jobs in Illinois are:

What cities in Illinois are hiring for Insurance Risk Manager jobs?

Cities in Illinois with the most Insurance Risk Manager job openings:

Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Illinois as of August 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $117,742 per year, or $56.6 per hour.

Insurance Risk Manager

DRiV

Skokie, IL • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Insurance Risk Manager
Location: Southfield, MI or Skokie, IL(Hybrid)
DRiV, Tenneco's Aftermarket business group, is a global leader with top-three market share positions across most of our product categories.
As a premier "House of Brands," DRiV represents more than 30 of the world's most trusted aftermarket names, including Monroe®, MOOG®, Wagner®, Walker®, Fel-Pro®, Champion®, Ferodo®, Payen®, and others, many with more than 100 years of heritage.
Our scaled and differentiated capabilities allow regional business lines to serve customers with precision while leveraging global manufacturing, engineering, and distribution strength. Approximately 75% of our revenue is positioned as a #1 brand within its product category.
Across shocks & struts, steering & suspension, braking, sealing, engine, emissions, and ignition systems, DRiV delivers quality, performance, and value that customers rely on worldwide.
At DRiV, we win through execution, innovation, and the power of our brands.
Position Summary
We are seeking an experienced Insurance Risk Manager to join DRiV's Global Treasury organization. Reporting to the Treasurer, this position will lead the Company's global insurance risk management programs while partnering with business leaders to identify, assess, mitigate, and monitor strategic, operational, financial, and insurable risks.
The successful candidate will oversee global insurance programs, broker relationships, claims management, and risk governance. This role will collaborate closely with Treasury, Legal, Finance, Tax, Human Resources, Environmental Health & Safety (EHS), Operations, Internal Audit, and external insurance brokers to protect the Company's assets and support its strategic objectives.
As DRiV establishes itself as an independent company, this position will play a critical role in designing scalable risk management processes, strengthening governance, and supporting acquisitions, treasury initiatives, and business transformation.
Key Responsibilities
Insurance Program Management
  • Lead the Company's global property, casualty, liability, cyber, directors & officers (D&O), cargo, environmental, and other commercial insurance programs.
  • Coordinate annual insurance renewals, policy placement, and coverage negotiations with brokers and insurance carriers.
  • Evaluate insurance program design, policy limits, deductibles, and alternative risk financing solutions to optimize protection and cost.
  • Monitor global insurance costs and recommend optimization opportunities.
  • Review contracts and insurance requirements to ensure appropriate risk transfer provisions.
  • Maintain strong relationships with insurance brokers, carriers, consultants, and third-party administrators.

Claims Management and Loss Control
  • Oversee the administration and resolution of property, casualty, workers' compensation, liability, and other insured claims.
  • Coordinate claim investigations with Legal, Human Resources, Operations, and EHS.
  • Monitor claim reserves, settlement strategies, and litigation support.
  • Develop and implement loss prevention programs to reduce frequency and severity of claims.
  • Maintain claims documentation and management reporting.

Treasury & Financial Risk Support
  • Partner with Treasury on financial risk management initiatives, including counterparty credit risk, banking risk assessments, and treasury operational risk.
  • Support Treasury governance initiatives related to internal controls, policy compliance, and regulatory requirements.
  • Participate in business continuity planning and operational resilience initiatives
  • Participate in treasury transformation and process improvement initiatives.

Business Continuity & Crisis Management
  • Support enterprise business continuity planning.
  • Coordinate insurance and risk support during major operational events.
  • Assist with disaster recovery planning and crisis response activities.
  • Develop post-event reviews and lessons learned.

Mergers, Acquisitions & Strategic Projects
  • Lead insurance and risk due diligence for acquisitions, divestitures, and restructuring activities.
  • Evaluate target company insurance programs and identify potential liabilities and coverage gaps.
  • Coordinate insurance integration activities following acquisitions.
  • Assess risk profiles and recommend mitigation strategies for strategic transactions.
  • Support Treasury and Finance during complex business transformation initiatives.

Governance, Compliance and Cross-Functional Leadership
  • Ensure compliance with insurance regulations, corporate governance requirements, and international risk standards.
  • Maintain insurance documentation, certificates of insurance, and policy records.
  • Coordinate internal and external audits related to insurance and risk management.
  • Develop and maintain risk management policies, procedures, and governance frameworks.
  • Serve as the primary liaison between Treasury and cross functional teams including Legal, Finance, EHS, Procurement. Internal Audit, and Operations.
  • Provide risk management guidance to business units and regional finance organizations.

Education
  • Bachelor's degree in Risk Management, Finance, Business Administration, Accounting, or related field.
  • CPCU, ARM, CRM, CTP, CPA, or equivalent professional designation preferred.

Qualifications
  • 8+ years of progressive experience in corporate risk management, insurance, treasury, or finance.
  • Strong knowledge of commercial insurance programs, policy language, and claims management.
  • Experience leading Enterprise Risk Management (ERM) programs.
  • Experience managing insurance brokers and third-party administrators.
  • Knowledge of multinational insurance programs and global risk financing strategies.
  • Strong analytical and financial skills with ability to evaluate complex risk scenarios.
  • Excellent project management, communication, and stakeholder relationship abilities.
  • Ability to influence senior leadership and work effectively across multiple business functions.
  • Proficiency with risk management software and enterprise systems.

Preferred Experience
  • Professional certifications such as CPCU, ARM, CRM, CTP, or CPA.
  • Experience with insurance renewals and broker negotiations.
  • Captive insurance or alternative risk financing solutions experience.
  • Treasury operational risk and financial controls expertise.
  • Mergers & acquisitions due diligence and risk integration experience.
  • Business continuity planning and crisis management expertise.
  • Claims analytics and loss trend reporting capabilities.
  • Experience in a multinational manufacturing or industrial environment.

Compensation: The base pay for this position generally ranges between $110,000 - $145,000. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.
Why Join DRiV?
This is a unique opportunity to help build DRiV's global risk management function during a transformational period as we establish an independent company. As Insurance & Enterprise Risk Manager, you will play a critical role in protecting the Company's people, assets, operations, and financial strength while helping shape our long-term risk management strategy.
This role goes beyond traditional insurance administration. You will partner with senior leaders across Treasury, Finance, Legal, Operations, Human Resources, and EHS to develop enterprise-wide risk solutions that support business growth and operational resilience.
If you're looking for an opportunity to make a meaningful impact while building a modern enterprise risk management function, DRiV offers the chance to shape the future of risk management in a dynamic global organization.

Apply