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Insurance Risk Manager Jobs in Milford, CT (NOW HIRING)

Webster Bank

Sr Anlst Fraud Risk Mgmt

Southington, CT

$75K - $90K/yr

The Senior Analyst Fraud Risk Management is required to analyze bank transactions, new accounts, and customer behavior to identify anomalous activity and potential risk to the customer and the bank.

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Insurance Risk Manager information

See Milford, CT salary details

$82.7K

$121.9K

$186.6K

How much do insurance risk manager jobs pay per year?

As of Jun 11, 2026, the average yearly pay for insurance risk manager in Milford, CT is $121,868.00, according to ZipRecruiter salary data. Most workers in this role earn between $101,300.00 and $138,400.00 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 job categories do people searching Insurance Risk Manager jobs in Milford, CT look for? The top searched job categories for Insurance Risk Manager jobs in Milford, CT are:
What cities near Milford, CT are hiring for Insurance Risk Manager jobs? Cities near Milford, CT with the most Insurance Risk Manager job openings:
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Sr Anlst Fraud Risk Mgmt

Sr Anlst Fraud Risk Mgmt

Webster Bank

Southington, CT

$75K - $90K/yr

Full-time

Posted 19 days ago

Webster Bank rating

7.0

Company rating: 7.0 out of 10

Based on 21 frontline employees who took The Breakroom Quiz

102nd of 141 rated banks

Job description

If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

The Senior Analyst Fraud Risk Management is required to analyze bank transactions, new accounts, and customer behavior to identify anomalous activity and potential risk to the customer and the bank. The position will need to document their findings and take appropriate action to prevent losses to our customers and the bank. The position will act as a point of escalation, assist analysts with questions, and help train new analysts. The position could also be asked to help with special projects and take on more responsibility as needed.

What you will do

  • Monitors transactions across multiple delivery channels to identify trends and patterns of fraudulent activity and takes appropriate action.
  • Reviews output of daily account warning reports using automated scoring system, researches fraudulent information or discrepancies.
  • Mitigates identified potential fraud loss by: placing holds/restricting access; preparing STMs; performing necessary due diligence.
  • Recommends closure of accounts deemed risky or suspicious; performs account maintenance as necessary.
  • Maintains accurate records to ensure accurate reporting and adherence to applicable laws and regulations.
  • Based upon research and findings, makes recommendations to management for updates to fraud prevention strategies.
  • Provides internal support to retail personnel on all issues concerning fraud and suspicious activity.
  • Acts as an escalation point for other members of the fraud team
  • Works with other lines of business to help with fraud training for front line bankers
  • Helps to train new hires and support them throughout their growth

Basic Qualifications

  • Basic understanding of card fraud mitigation strategies and current card fraud trends.
  • Basic understanding of card processing and data points provided by Visa, Mastercard, Fiserv, etc.
  • Basic understanding of Regulation E.
  • Proficiency with Microsoft Excel and Microsoft Office suite of products.

Preferred Qualifications

  • Bachelor's Degree in related discipline or equivalent combination of education and work experience.
  • Experience with sequel, card fraud rule writing and data analysis utilizing third party tools associated w/ Visa, Mastercard, Fiserv, etc.
  • Excellent verbal and written communication skills.
  • Self-motivated, accountable, and highly adaptable.

The estimated salary range for this position is $75,000.00 to $90,000.00. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

#LI-RK1

Webster Financial Corporation and its subsidiaries ("Webster") are equal opportunity employers that are committed to sustaining an inclusive environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law.

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