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

Senior Risk Manager Capital One's Enterprise Risk Management (ERM) Team has responsibility for helping the overall organization identify, manage, and mitigate key risks that may keep the company from ...

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Management of risk stakeholder program execution and interaction with Third Party Risk Specialists ... BMO also offers health insurance, tuition reimbursement, accident and life insurance, and ...

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... insurance, and other voluntary and well-being benefits. Northern Trust also provides a ...

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... insurance, and other voluntary and well-being benefits. Northern Trust also provides a ...

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... insurance, and other voluntary and well-being benefits. Northern Trust also provides a ...

Overview The Manager, Risk Management is responsible for the building and coordination of a centralized first-line of defense (LOD1) risk and internal control program efforts for Early Warning ...

Maintain and update risk management documentation (e.g., certificates of insurance, local policies) to ensure accuracy and consistency across entities. * Partner with Finance to ensure premium ...

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Showing results 21-40

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 Aug 12, 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?

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 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:
Infographic showing various Insurance Risk Manager job openings in Elgin, IL as of August 2026, with employment types broken down into 79% Full Time, and 21% Temporary. Highlights an 100% In-person job distribution, with an average salary of $120,109 per year, or $57.7 per hour.

Senior Risk Manager

Capital One

Riverwoods, IL • On-site

Full-time

Posted 20 days ago


Capital One rating

7.7

Company rating: 7.7 out of 10

Based on 146 frontline employees who took The Breakroom Quiz

93rd of 171 rated banks


Job description

Senior Risk Manager

Capital One's Enterprise Risk Management (ERM) Team has responsibility for helping the overall organization identify, manage, and mitigate key risks that may keep the company from achieving its strategic objectives. The Corporate Policy Office (CPO) is a dedicated group of professionals within ERM, focused on executing second line-of-defense oversight responsibilities by improving governance and quality of policy documents for Capital One.

The team is seeking a Senior Risk Manager who will contribute to the establishment and execution of a sustainable policy program, including the strategies and processes, to govern and improve the quality of policy documents across the Enterprise. The Senior Risk Manager will partner with senior leaders and stakeholders at all levels to develop, implement, and drive adherence to the enterprise policy program. The Senior Risk Manager will build and maintain effective relationships with business partners in a way that enhances the CPO brand.

Success in this position will rely heavily on working well with senior leaders across the Enterprise in large scale, enterprise-wide policy related projects. This role requires core strengths in Influence, Results Focus, Problem Solving, Communication, and Teamwork. The ideal candidate will have prior experience working with senior leaders and enterprise-wide stakeholders, a demonstrated ability to manage complex processes and projects through a customer-focused risk lens, and an ability to assess and make improvements to the effectiveness of these processes and related strategies. Additionally, the Senior Risk Manager should have a comfort in developing and presenting materials in forums and other communication channels with senior leaders. The ideal candidate also has prior experience working with policy, with an ability to read, analyze, and rationalize policy gaps or areas for improvement and consult with stakeholders to address. An attention to detail and commitment to collaboration and teamwork is required, while also having a strong ability to influence in driving results through change.

Responsibilities:

  • Contributes to the development and execution of a sustainable policy program to govern and improve the quality of policy documents across the Enterprise

  • Contributes to the development and execution of policy program initiatives and strategies leveraging a cross-functional network

  • Analyzes data and information and drives to solutions in large scale policy related projects

  • Assists in leading the enterprise policy program through change

  • Develops and delivers policy related communications and presentations via ERM communication channels and other forums with senior leaders

  • Develops and delivers other communications (including presentations) that aid in the design, development, refinement, and usage of risk management functions, practices, and activities

  • Engages in the review of policy documents and partners with policy stakeholders to drive consistency and improve content in policy documents

  • Demonstrates strong business judgment, leadership, and integrity

  • Collaborates effectively with senior leadership across organizations such as Operational Risk Management, Compliance, Legal, Technology, Internal Audit, Regulatory Relations, etc.

Basic Qualifications:

  • Bachelor's Degree or military experience

  • At least 5 years of audit, quality assurance or risk management experience

  • At least 5 years of experience supporting, partnering, and interacting with internal business clients

  • At least 5 years of experience in process or project management

Preferred Qualifications:

  • Master's Degree in Business Administration (MBA) or Juris Doctorate (JD)

  • 6+ years of audit, quality assurance or risk management experience

  • 6+ years of experience in process or project management

  • Workiva or Wdesk experience

  • Policy management experience

  • Project Management Professional (PMP) Certification

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

McLean, VA: $177,700 - $202,800 for Sr. Risk Manager


Richmond, VA: $161,500 - $184,300 for Sr. Risk Manager


Riverwoods, IL: $161,500 - $184,300 for Sr. Risk Manager









Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.

Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).


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