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Insurance Risk Manager Jobs in Buffalo, NY (NOW HIRING)

M&T Bank

Fraud Risk Manager

Buffalo, NY · On-site

$107K - $179K/yr

Manage the first line of defense risk management responsibilities of the business unit in accordance with the Enterprise Risk Framework. Oversee the proactive identification, accurate assessment and ...

M&T Bank

Fraud Risk Manager

Buffalo, NY · On-site

$107K - $179K/yr

Manage the first line of defense risk management responsibilities of the business unit in accordance with the Enterprise Risk Framework. Oversee the proactive identification, accurate assessment and ...

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Insurance Risk Manager information

See Buffalo, NY salary details

$79.9K

$117.7K

$180.2K

How much do insurance risk manager jobs pay per year?

As of Aug 20, 2026, the average yearly pay for insurance risk manager in Buffalo, NY is $117,698.00, according to ZipRecruiter salary data. Most workers in this role earn between $97,800.00 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 Buffalo, NY?

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

What job categories do people searching Insurance Risk Manager jobs in Buffalo, NY look for?

The top searched job categories for Insurance Risk Manager jobs in Buffalo, NY are:

What cities near Buffalo, NY are hiring for Insurance Risk Manager jobs?

Cities near Buffalo, NY with the most Insurance Risk Manager job openings:

Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Buffalo, NY as of August 2026, with employment types broken down into 1% As Needed, 73% Full Time, 21% Part Time, 4% Contract, and 1% Nights. Highlights an 90% Physical, 1% Hybrid, and 9% Remote job distribution, with an average salary of $117,698 per year, or $56.6 per hour.

Fraud Risk Manager

M&T Bank

Buffalo, NY • On-site

$107K - $179K/yr

Full-time

Posted 9 days ago

M&T Bank rating

7.9

Company rating: 7.9 out of 10

Based on 186 frontline employees who took The Breakroom Quiz

80th of 171 rated banks

Job description

Overview:
Manage the first line of defense risk management responsibilities of the business unit in accordance with the Enterprise Risk Framework. Oversee the proactive identification, accurate assessment and reporting of risks impacting the business unit, including loss events and Key Risk Indicators (KRI's). Ensure the appropriate escalation of identified issues and the timely completion of remediation plans. Manage the team responsible for risk and control functions in the business unit. Assist the Business Risk Officer in setting direction for the department and risk policy of the organization.
Primary Responsibilities:
  • Lead the planning, execution, and reporting of the business unit's first line of defense risk management function including ensuring the documentation of key processes and internal controls. Ensure the complete and proper identification and assessment of risks in the business unit's key processes in accordance with the Enterprise Risk Framework, internal guidance, and risk management professional standards.
  • Drive the development, execution and reporting of the business unit's risk-based testing program. Ensure control testing is performed in accordance with M&T's First Line of Defense Guidance on Management of Risks & Internal Controls and professional standards.
  • Oversee reporting to Business Unit Management, Scenario Management and internal risk committees. Provide direct assistance/support to the First Line Risk Officer
  • Monitor business unit performance with respect to established key risk indicators (KRIs) and prepare comprehensive KRI reporting.
  • Ensure the accurate and timely completion of Risk Control Self Assessments (RCSAs) and other risk management reporting. Develop a process by which emerging risks and losses are reviewed and incorporated into the RCSAs and KRIs.
  • Identify emerging risks and risks associated with new products/ services/ markets/ channels or changes to existing products/ services/ markets/ channels and oversee the reporting of these risks to management and the Markets, Products and Services Risk Committee.
  • Ensure the effective and efficient management and reporting of issues, including remediation plans. Develop and oversee the process for identifying and reporting risk events and losses in a timely manner. Appropriately escalate identified issues to the First Line Risk Officer and business unit management.
  • Develop, implement and oversee the maintenance of policies for the business unit. This includes the updating of policies in response to federal, state or business unit process changes. Respond to both internal and external requests in relation to departmental policies and procedures.
  • Provide coaching and mentoring to the staff. Review and approve test results. Build a working relationship with business unit management, Internal Audit, Corporate Operational Risk and Corporate Compliance Portfolio Managers.
  • Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
  • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Promote an environment that supports belonging and reflects the M&T Bank brand.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Complete other related duties as assigned.

Education and Experience Required:
Bachelor's degree and a minimum of 7 years' relevant work experience, or in lieu of a degree, a combined minimum of 11 years' higher education and/or work experience, including a minimum of 7 years' relevant work experience
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $107,500.00 - $179,100.00 Annual (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.
Location
Buffalo, New York, United States of America

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