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Insurance Risk Manager Jobs in Madison, WI (NOW HIRING)

Life Underwriter

Madison, WI · Remote

$30 - $32/hr

Partner with underwriting management to develop and implement corrective actions when needed ... Advanced knowledge of life insurance risk selection and mortality assessment. * Strong analytical ...

Risk Program Specialist

Janesville, WI · On-site

$80K - $129K/yr

Identify and report those occurrences as required by the Safe Medical Devices Act. * Assist director of risk management with insurance and claim management programs when necessary. * Work closely ...

Identify and report those occurrences as required by the Safe Medical Devices Act. * Assist director of risk management with insurance and claim management programs when necessary. * Work closely ...

Director of Cyber Risk & Assurance

Madison, WI · On-site +1

$185K - $225K/yr

Enjoy leading the Cyber Risk & Assurance function encompassing governance, risk management ... Experience in healthcare, insurance, government contracting, Medicare Administrative Contractor ...

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Insurance Risk Manager information

See Madison, WI salary details

$83.1K

$122.5K

$187.4K

How much do insurance risk manager jobs pay per year?

As of Jul 22, 2026, the average yearly pay for insurance risk manager in Madison, WI is $122,451.00, according to ZipRecruiter salary data. Most workers in this role earn between $101,800.00 and $139,100.00 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 Madison, WI? For Insurance Risk Manager jobs in Madison, WI, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Manager jobs in Madison, WI look for? The top searched job categories for Insurance Risk Manager jobs in Madison, WI are:
What cities near Madison, WI are hiring for Insurance Risk Manager jobs? Cities near Madison, WI with the most Insurance Risk Manager job openings:
Infographic showing various Insurance Risk Manager job openings in Madison, WI as of July 2026, with employment types broken down into 1% As Needed, 70% Full Time, 22% Part Time, and 7% Contract. Highlights an 95% Physical, 1% Hybrid, and 4% Remote job distribution, with an average salary of $122,451 per year, or $58.9 per hour.
Risk Manager

Full-time

Retirement

Re-posted 10 days ago


Job description

The Opportunity
Are you a dynamic risk management professional ready to make a meaningful impact for clients in the Construction and Real Estate industries? As a Risk Manager at M3, you'll be at the forefront of client safety and cost containment strategy, partnering with Client Executives in our Construction and Real Estate practice group to deliver high-quality risk management services. This role offers an exciting blend of analytical expertise, client consulting, and relationship building - making it an ideal opportunity for driven professionals looking to shape real outcomes for middle and large market clients in these dynamic industries.
How You Will Make an Impact
  • Drive cost containment strategies for a portfolio of 25-30 clients, developing and executing customized service plans with clear objectives and industry benchmarks.
  • Consult directly with clients on overall risk management programs, safety initiatives, and regulatory compliance specific to construction and real estate environments - both over the phone and face-to-face.
  • Deliver data-driven insights through loss reporting analysis, custom spreadsheets, and Risk Analysis Report interpretations that help clients and prospects make informed decisions.
  • Collaborate with Client Executives to support renewals, negotiate fully insured programs using actuarial analysis, and help retain and grow the client base.
  • Develop and present high-level risk management reports, Market Trend Alerts, and training materials tailored to the unique exposures of construction and real estate operations.
  • Build lasting relationships with clients, carrier partners, and internal colleagues to strengthen M3's risk management reputation in the Construction and Real Estate market.
What You Will Need to Succeed
  • Bachelor's degree in Risk Management, Safety, Industrial Hygiene, or a related field - or an equivalent combination of education and experience.
  • Minimum of 3 years of experience in health, safety, or risk management, ideally with exposure to construction and/or real estate industry risks.
  • Wisconsin P&C Insurance license, or the ability to obtain one within the first 6 months.
  • Experience with workers' compensation data analysis and familiarity with OSHA, MSHA, DOT, NFPA, and related regulatory frameworks is a plus - particularly as they apply to construction environments.
  • Professional designations such as ARM, CSP, CIH, CPCU, or RN are a plus.
  • Strong analytical ability with proficiency in Microsoft Excel, Word, and PowerPoint.
  • Excellent communication and presentation skills, with the ability to engage confidently with executive-level audiences.
  • Ability to travel to client sites approximately 85% of the time.
  • Valid Drivers license.
Join Us
Your role at M3 won't be about the boundaries presented in a job description - it's about the possibilities that you can envision once you walk through the doors on your first day. We're looking for people ready to take control of their career and excited to make a real impact with their position.
Who We Are
As an insurance broker, M3 helps you manage risk, purchase insurance, and provide benefits to your employees. We partner with clients on everything from property & casualty and employee benefits to personal lines, executive benefits, and employer-sponsored retirement plans. And, we're privately owned and independent which means we're doing what's best for our clients - not what's best for Wall Street or private equity.
What Draws People to M3
Autonomy- Being able to work towards a common goal, but how you get there is an open book.
Immediate Impact- Every M3er can make an impact, from day one in any role.
Powered by Team- Be a part of a close-knit group of team members with whom you build trust and share responsibility.
People- Every M3er is unique in their own way, M3 is a collection of unique achievers.
At M3 Insurance experience the best of both worlds with our dynamic flexible work environment. Enjoy the flexibility to work in a flexible hybrid work environment while still fostering collaboration and innovation in-person in our office spaces. We prioritize work-life balance and empower our employees to thrive in a supportive and inclusive atmosphere.
Benefits as an M3er
Joining the M3 team means gaining access to a host of exceptional benefits and perks. Our benefits package is continuously evolving to cater to the needs of our team members. From flexible time-off and paid parental leave to employee appreciation events and volunteering opportunities, we prioritize the well-being and satisfaction of our employees. Additionally, our profit-sharing program ensures that every member of our team shares in the success of our organization. These enticing benefits showcase our commitment to nurturing and retaining top talent within our organization.
Diversity, Equity & Inclusion
M3 is building a culture focused on learning and progression, where M3ers are empowered by education, inclusive conversations, and real action that supports the future we envision.
Equal Employment Opportunity
M3 is committed to providing equal employment opportunity for all qualified individuals regardless of their age, sex, color, race, creed, national origin or ancestry, religion, marital status, military status, sexual orientation, disability/handicap, family responsibilities, non-relevant arrest or conviction records, or any other basis protected by law. In addition, we are committed to fully observing all relevant non-discrimination laws, including those regarding veterans' status, and will make reasonable accommodations for otherwise qualified individuals as appropriate.
This commitment is reflected in all M3's practices and policies regarding hiring, training, promotions, transfers, rates of pay, and layoff, as well as in all forms of compensation, granting leaves of absence and in any other conditions of employment. All matters relating to employment are based upon ability to perform the job.
In the best interests of M3 and all of its employees, every employee is to make every effort to avoid bias or prejudice in the workplace with regard to the above categories.
Equal Opportunity Employer
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.