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Insurance Risk Manager Jobs in Bloomington, IL (NOW HIRING)

Kirby Risk

Driver - Bloomington, IL

Bloomington, IL · On-site

$19 - $20/hr

At Kirby Risk Electrical Supply, our Service Delivery Drivers are the face of our company-ensuring ... Strong attention to detail and time management. * Ability to lift up to 50 lbs. and work in an ...

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Insurance Risk Manager information

See Bloomington, IL salary details

$79.1K

$116.6K

$178.4K

How much do insurance risk manager jobs pay per year?

As of May 28, 2026, the average yearly pay for insurance risk manager in Bloomington, IL is $116,552.00, according to ZipRecruiter salary data. Most workers in this role earn between $96,900.00 and $132,400.00 per year, depending on experience, location, and employer.

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

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 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 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 job categories do people searching Insurance Risk Manager jobs in Bloomington, IL look for? The top searched job categories for Insurance Risk Manager jobs in Bloomington, IL are:
What cities near Bloomington, IL are hiring for Insurance Risk Manager jobs? Cities near Bloomington, IL with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Manager - Corporate Insurance

Manager - Corporate Insurance

State Farm

Bloomington, IL • On-site

Full-time

Medical, Dental, Vision, Retirement

Posted 6 days ago

State Farm rating

7.5

Company rating: 7.5 out of 10

Based on 1,355 frontline employees who took The Breakroom Quiz

183rd of 258 rated insurance

Job description

Overview
State Farm is looking to expand its Corporate Insurance & Risk Management team. As manager for State Farm's Corporate Insurance team, you will be responsible for oversight of the team responsible for corporate insurance programs. This will include directing the purchase of corporate insurance programs and management of program outcomes. Successful outcomes will be enabled through strong relationships with third party service providers, brokers, insurers.
Additionally, you will collaborate with internal risk owners and stakeholders across the organization to assess and mitigate potential risks. Domestic travel will be required to meet with internal and external business partners, including travel to attend industry conferences and events. When not traveling, this person will work a hybrid schedule from one of State Farm's offices in Bloomington, Atlanta, Dallas, or Phoenix.
Being good neighbors - helping people, investing in our communities, and making the world a better place - is who we are at State Farm. It is at the core of how we operate and the reason for our success. Come join a #1 team and do some good!
Responsibilities
  • Leading a high-performing corporate insurance and risk management team, in partnership with the Enterprise Risk Management department
  • Building strong relationships with brokers, insurers, and TPAs, as well as maintaining relationships with industry organizations and societies
  • Overseeing risk identification and formulation of strategic plans to mitigate risk
  • Utilizes risk management knowledge in problem solving for enterprise business partners
  • Support incident/event review (e.g., root cause themes) and ensure learnings are reflected in insurance solutions
  • Accountability for decisions which impact the enterprise insurance portfolio
  • Negotiation of the purchase of risk transfer solutions for the enterprise in partnership with brokers
  • Overseeing risk identification and formulation of strategic plans, utilizing risk management knowledge in problem solving
  • Advising upper leadership levels on risk management issues for the enterprise
  • Supervision of the corporate insurance team, including employee selection, training, career development, and the administration of performance evaluations and rewards
  • Continual monitoring of global developments in insurance and risk management

Qualifications
  • 3+ years of P&C / Casualty insurance leadership experience
  • Risk management experience preferably within insurance and financial institutions
  • Strong financial acumen, including understanding of TCOR, loss reserves, and operational risks
  • Ability to strategically influence stakeholders by challenging assumptions and influencing internal and external business partners to ensure decisions appropriately balance risk and growth.
  • Effective communication to present risk information clearly, concisely, and with appropriate context, building credibility through transparency and consistency
  • Strong decision making which demonstrates independence of thought while aligning with organizational priorities
  • Professional certifications such as CPCU, ARM, RIMS-CRMP, or ACI preferred
  • Bachelor's degree or higher (Risk Management, Finance, Business, or related field preferred)

Our Benefits
Because work-life balance is a priority at State Farm, compensation is based on our standard 38-hr. 45-min. work week!
  • Potential starting salary range: $137,000 - $155,000
    • Starting salary will be based on skills, background, and experience
    • High end of the range limited to applicants with significant relevant experience
  • Potential yearly incentive pay up to 24% of base salary

At State Farm, we offer more than just a paycheck. Check out our suite of benefits designed to give you the flexibility you need to take care of you and your family!
  • Get Paid! On top of our competitive pay, you are eligible for an annual raise and bonus.
  • Stay Well! Focus on you and your family's health with our robust health and wellbeing programs. State Farm pays most of your healthcare premium, and we offer multiple healthcare plan options, including a high deductible plan. All medical plans provide 100% coverage for in-network preventative care, AND you and your family have access to vision, dental, telemedicine, 24/7 mental health professionals, and much more!
  • Develop and Grow! Take advantage of educational benefits like industry leading training programs, top-notch tuition assistance programs, employee resource groups, and mentoring.
  • Plan Ahead! Plan for those big moments in life with benefits like fertility/IVF/adoption assistance, college coaching, national discount programs, interactive monthly financial workshops, free financial coaching, and more. You can also start a savings account or consider financing through our State Farm Federal Credit Union!
  • Take a Little "You" Time! You will have access to our generous time off policies designed so you can plan around holidays, family events, volunteering, or just to take a relaxing day off. With the opportunity to initially earn up to 20 days annually plus parental leave, paid holidays, celebration day, life leave (40 hours/year), bereavement leave, and community service/education support days, there will be plenty of time for you!
  • Give Back! We offer several ways to give back through our Matching Gift Program, Good Neighbor Grant Program, and the Employee Assistance Fund.
  • Finish Strong! Plan for retirement using free financial advisors and a 401(k) plan with company contributions of up to 7% of your salary.

Visit our State Farm Careers page for more information on our benefits, locations, and the hiring process of joining the State Farm team!

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