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Insurance Risk Manager Jobs in Indianapolis, IN (NOW HIRING)

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Insurance Risk Manager information

See Indianapolis, IN salary details

$78.9K

$116.1K

$177.8K

How much do insurance risk manager jobs pay per year?

As of Jun 14, 2026, the average yearly pay for insurance risk manager in Indianapolis, IN is $116,143.00, according to ZipRecruiter salary data. Most workers in this role earn between $96,500.00 and $131,900.00 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 Indianapolis, IN? For Insurance Risk Manager jobs in Indianapolis, IN, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Manager jobs in Indianapolis, IN look for? The top searched job categories for Insurance Risk Manager jobs in Indianapolis, IN are:
What cities near Indianapolis, IN are hiring for Insurance Risk Manager jobs? Cities near Indianapolis, IN with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Compliance & Risk Manager (On-site/Hybrid/Remote)

Compliance & Risk Manager (On-site/Hybrid/Remote)

Precinmac

Indianapolis, IN • On-site

$74K - $145K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 20 days ago

Job description

Precinmac is a leading supplier of mission-critical, precision machined components used in the aerospace and defense, semiconductor, and automation equipment sectors. We strive to create an environment where employees, leaders and the customer are aligned in purpose and engaged to deliver best in class results. Partners that are essential to the world.

Precinmac is hiring a Compliance and Risk Manager to join our dynamic team. This position reports to our General Counsel and Compliance Officer and will serve as a key member of the Company’s Legal Department, responsible for formalizing and centralizing Precinmac’s compliance and risk management planning across all operating facilities in the United States and Canada. This position will lead initiatives to protect and enhance enterprise value by identifying, assessing, and managing strategic, operational, financial, technological, legal, human capital, and reputational risks. This role will coordinate with leadership across all business units to ensure compliance with U.S. and Canadian regulatory requirements, including ITAR, EAR, DFARS, FAR, and CMMC, and will promote a consistent framework for governance, training, internal controls, and enterprise risk mitigation.

Location: Preferred locations include Indianapolis, IN; Ogden, UT; South Paris, ME; Chicopee, MA. Remote based work may be considered.

What You Will Do:

  • Lead the Company’s government compliance programs, including export and import controls, DDTC licensing, CUI management, and adherence to FAR, DFARS, and related contracting requirements.
  • Oversee internal compliance audits, employee compliance training, and certification tracking across all business units.
  • Support the Legal Department in drafting, reviewing, and maintaining compliance-related policies, procedures, and certifications, ensuring adherence to applicable laws and regulations.
  • Coordinate enterprise risk management activities, including business continuity planning, disaster recovery, cybersecurity readiness, and third-party risk management.
  • Collaborate with IT on cybersecurity policy development, employee training, and annual third-party assessments or penetration tests.
  • Support the implementation and monitoring of supplier risk management and compliance with DFARS and CMMC requirements, including supplier qualification, performance tracking, and corrective action documentation.
  • Lead initiatives related to employee reporting, ethics, and Code of Conduct training, ensuring consistent application across all subsidiaries.
  • Support ESG initiatives where applicable, including environmental impact reporting, ethical sourcing, and human rights compliance.
  • Serve as the internal liaison to management on risk and compliance matters, providing periodic updates to the General Counsel and contributing to quarterly reporting to the Audit Committee.
  • Promote continuous improvement and best practices in compliance and risk management throughout the enterprise.

What You Will Bring:

  • Education: Bachelor’s degree required. Advanced degree preferred in business, law, or a related field.
  • Experience: Minimum of 10 years of experience in compliance, risk management, or related legal or operational roles in an industrial, manufacturing, or defense environment. Experience with U.S. Government contracting and export control regulatory frameworks (FAR/DFARS/ITAR/EAR) preferred.
  • Strong attention to detail and ability to handle multiple projects simultaneously.
  • Excellent organizational, communication, administrative and problem-solving skills.
  • Experience in and/or strong interest in developing understanding of a corporate legal department environment
  • Ability to work independently, as part of a team and with other corporate departments
  • Proficiency in Microsoft Office Suite, Adobe Acrobat, and legal document management software.

Precinmac offers a competitive, employee-focused benefits package designed to support your health, financial security, and work-life balance.

  • Health & Wellness: Health, life, vision, disability, life insurance, and dental insurance; tax-advantaged savings through HSA and Flexible Spending Accounts.
  • Financial Security: 401(k) with automatic enrollment and employer match (immediate vesting).
  • Time Off & Work-Life: Paid holidays, PTO/Vacation
  • Career: Tuition reimbursement after 90 days of full-time employment

Base pay offered may vary depending on job-related knowledge, skills, and experience.
Pay Range
$74,200 - $145,700 USD

Affirmative Action/EEO Statement: We are proud to be an Equal Opportunity Employer. All qualified applicants will receive consideration for employment in compliance with all federal and state regulations. Precinmac provides affirmative action in employment for qualified individuals with a disability and Protected Veterans in compliance with Section 503 of the Rehabilitation Act and the Vietnam Era Veterans’ Readjustment Assistance Act.
Precinmac Values Statement: We are bound by Trust; we express our Gratitude, we lead with Action, we are poised for Growth, and we are driven by Excellence.