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

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 ...

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 ...

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 ...

Associatedbank

Model Risk Manager

Chicago, IL · On-site

Role Summary The Model Risk Manager is responsible for leading and advancing Associated Bank ... Personal banking, loan, investmentand insurance benefits. Associated Bank serves more than 120 ...

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 ...

Old National Bank

IST Risk Manager

Chicago, IL · On-site

$199K/yr

... insurance. 401K, continuing education opportunities and an employee assistance program are also ... The Information Security & Technology Risk Manager supports and executes second line of defense ...

Invenergy

Manager, Insurance (Captive)

Chicago, IL

Provide regulatory, insurance, risk management, underwriting expertise, and administrative captive management support. * Coordinate new placements and renewal efforts with brokers, consultants ...

Capital One

Principal Risk Manager

Chicago, IL · On-site

Principal Risk Manager The Principal Risk Specialist is responsible for performing business compliance and operational risk and control activities. They are also responsible for educating and ...

Capital One

Principal Risk Manager

Riverwoods, IL · On-site

Principal Risk Manager The Principal Risk Specialist is responsible for performing business compliance and operational risk and control activities. They are also responsible for educating and ...

Deloitte

Financial Risk Manager

Chicago, IL · On-site

Financial Services Manager - Financial Risk Our Deloitte Regulatory, Risk & Forensic team helps client leaders translate multifaceted risk and an evolving regulatory environment into defensible ...

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Showing results 1-20

All JobsInsurance Risk JobsInsurance Risk Manager JobsInsurance Risk Manager Jobs in Elgin, IL

Insurance Risk Manager information

See Elgin, IL salary details

$81.6K

$120.1K

$183.9K

How much do insurance risk manager jobs pay per year?

As of Jul 22, 2026, the average yearly pay for insurance risk manager in Elgin, IL is $120,109.00, according to ZipRecruiter salary data. Most workers in this role earn between $99,800.00 and $136,400.00 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 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 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 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 are popular job titles related to Insurance Risk Manager jobs in Elgin, IL? For Insurance Risk Manager jobs in Elgin, IL, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Manager jobs in Elgin, IL look for? The top searched job categories for Insurance Risk Manager jobs in Elgin, IL are:
What cities near Elgin, IL are hiring for Insurance Risk Manager jobs? Cities near Elgin, IL with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Elgin, IL as of July 2026, with employment types broken down into 1% As Needed, 71% Full Time, 23% Part Time, and 5% Contract. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution, with an average salary of $120,109 per year, or $57.7 per hour.
Risk Manager

Risk Manager

PremiStar

Deerfield, IL • On-site

Full-time

Re-posted 13 days ago

Job description

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 and construction environment.
Reporting jointly to the Controller and Director of Safety, this role serves as a strategic partner to Finance, Safety, Operations, and Executive Leadership to reduce total cost of risk, strengthen insurance performance, and protect enterprise financial stability across all Business Units.
This position requires a seasoned risk professional with deep property & casualty insurance expertise, executive-level claims management experience, and working knowledge of field operations and safety performance in HVAC/MEP environments.
Key Responsibilities
  • Enterprise Insurance Strategy
  • Lead administration and strategic oversight of all property & casualty insurance programs, including general liability, auto liability, workers' compensation, umbrella/excess, and property
  • Partner with brokers and carriers to develop renewal strategy, underwriting submissions, coverage negotiations, and program structure optimization.
  • Lead the annual insurance renewal process, gather necessary information from business units for the annual renewal, prepare summarized information to review internally and supply to the broker. Develop insurance rates for monthly accruals performed by the business.
  • Evaluate limits, deductibles, and retention strategies to align with operational risk profile and financial objectives
  • Support M&A due diligence, insurance modeling, and post-acquisition integration

Claims & Total Cost of Risk Management
  • Provide executive-level oversight of workers' compensation, auto, general liability, and property claims arising from HVAC and MEP operations
  • Partner with TPAs, carriers, and legal counsel to manage complex and litigated claims
  • Review reserves, monitor large-loss development, and provide financial forecasting insight to leadership
  • Conduct structured quarterly claims reviews with Business Unit leadership
  • Analyze claim frequency, severity, lag time, and emerging loss trends to drive corrective action

Risk Analytics & Operational Alignment
  • Analyze TRIR trends, at-fault auto incidents, and operational loss drivers across the enterprise
  • Partner with the Director of Safety to align prevention initiatives with insurance data and financial impact
  • Support targeted interventions for high-loss Business Units
  • Provide insurance education and financial risk insight to General Managers and senior leadership
  • Parter with Corporate Accounting on monthly deductible cross charges
  • Key contact for business and insurance broker related to insurance matters

Contractual Risk & Compliance
  • Review of contractual insurance requirements in commercial service and construction agreements
  • Ensure certificates of insurance and compliance documentation align with enterprise standards
  • Mitigate contractual transfer risk exposure

Qualifications
  • Bachelor's degree in risk management, Insurance, Finance, Business, Safety, or related field required
  • Minimum 10 years of progressive experience in insurance risk management, claims oversight, underwriting, or enterprise property & casualty leadership
  • Experience supporting construction, HVAC, MEP, or field service operations strongly preferred
  • Experience managing large deductible or self-insured retention programs preferred
  • Demonstrated experience partnering with executive leadership on financial risk strategy
  • Strong analytical, financial modeling, and communication skills

MINIMUM AND/OR PREFERRED QUALIFICATIONS:
  • ARM
  • CPCU
  • CSP or safety credential a plus
  • MBA or advanced business degree a plus

Additional Requirements
  • Ability to travel to Business Unit locations as needed
  • Ability to walk active construction sites, rooftops, mechanical rooms, and shop environments
  • Ability to access elevated work areas and fleet operations environments
  • Executive presence and ability to influence senior operational leaders
  • Ability to manage priorities across geographically dispersed operations

PHYSICAL DEMANDS
  • The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

WORK ENVIRONMENT:
This job operates in both an office and a field environment. Must be able to sit and/or stand for extended periods of time.
REASONABLE ACCOMODATION:
Reasonable accommodation will be made to enable individuals with disabilities to perform the essential job functions unless doing so presents an undue hardship on the Company's business operations.
OTHER DUTIES:
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Employees understand the above job description and agree to comply with and be subject to its conditions. Employee further agrees this job description does not alter his/her at-will employment status. Employees understand the Company reserves the right to delegate, remove, expand or change all responsibilities. Employees acknowledge that he/she can fulfill the above duties with or without reasonable accommodation.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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