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$86.1K

$126.8K

$194.1K

How much do insurance risk manager jobs pay per year?

As of Jun 11, 2026, the average yearly pay for insurance risk manager in Minneapolis, MN is $126,827.00, according to ZipRecruiter salary data. Most workers in this role earn between $105,400.00 and $144,000.00 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 Minneapolis, MN? For Insurance Risk Manager jobs in Minneapolis, MN, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Manager jobs in Minneapolis, MN look for? The top searched job categories for Insurance Risk Manager jobs in Minneapolis, MN are:
What cities near Minneapolis, MN are hiring for Insurance Risk Manager jobs? Cities near Minneapolis, MN with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Minneapolis, MN as of June 2026, with employment types broken down into 92% Full Time, and 8% Part Time. Highlights an 94% In-person, 4% Hybrid, and 2% Remote job distribution, with an average salary of $126,827 per year, or $61 per hour.
Senior Manager, Client Risk Prevention

Senior Manager, Client Risk Prevention

Royal Bank of Canada

Minneapolis, MN • On-site

$90K - $160K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 27 days ago

Job description

Job Description
What is the opportunity?
As Client Risk Prevention Senior Manager in the Business Risk Oversight team, you will manage the team responsible for the intake and case management of incidents of fraud, financial exploitation and senior/vulnerable client concerns, providing proactive and responsive advice to business partners. This is an ideal role for someone with a passion for helping others and the ability to demonstrate professionalism and empathy with a calm demeanor while addressing potentially stressful, time-sensitive situations.
While Minneapolis is our preferred location for this role, we are open to candidates working from any of our RBC Wealth Management branch locations with available space.
What will you do?
  • Manage performance and development of direct reports, including conducting performance reviews and creating individual development plans
  • Apply knowledge of regulations and best practices to provide a high level of service and guidance to employees when faced with scenarios involving fraud, financial exploitation, diminished capacity and vulnerability while soliciting advice from colleagues in Law Group and Compliance
  • Manage holds on client disbursements in accordance with FINRA Rule 2165 and conduct supporting investigations and facilitate reporting to state agencies
  • In partnership with other stakeholders, develop and maintain policies, procedures and written supervisory procedures to protect against all types of fraud, including cyber fraud, and financial exploitation and comply with applicable laws and regulations
  • Develop and maintain internal red flags training and resource materials to promote identification and escalation of fraud, exploitation and diminished capacity concerns. Travel periodically to conduct onsite training and participate in training calls on timely topics related to senior clients and fraud. Contribute to the development of external client educational materials on fraud, scams, and financial exploitation
  • Maintain management reporting related to fraud and exploitation and analyze case trends to identify potential fraud control enhancements.
  • Participate in industry groups/roundtables to engage in best practices and to stay abreast of current industry priorities
  • Maintain awareness of federal and state regulatory and reporting requirements

What do you need to succeed?
Must-have
  • College degree or comparable securities industry work experience
  • Strong understanding of financial industry regulations related to fraud, cyber fraud/scams and senior/vulnerable client concerns with the ability to identify and mitigate risks within the organization
  • Outstanding verbal and written communication skills with confidence to conduct training and lead group discussions
  • Advanced organizational skills, including the ability to multi-task and prioritize with high attention to detail
  • 7+ years of securities/financial markets experience
  • 1-3+ years of people management experience

Nice-to-have
  • JD, MBA or another advanced degree
  • FINRA Series 7, 63 and 24 licenses
  • Certified Fraud Examiner (CFE) designation

What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
  • A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
  • Leaders who support your development through coaching and managing opportunities.
  • Ability to make a difference and lasting impact.
  • Work in a dynamic, collaborative, progressive, and high-performing team.
  • Opportunities to do challenging work.
  • Opportunities to build close relationships with clients.

The expected salary range for this particular position is $90,000-$160,000 (Minneapolis), $99,000-$176,000 (Chicago), depending on your experience, skills, and registration status, market conditions and business needs.
You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.
RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
  • Drives RBC's high-performance culture
  • Enables collective achievement of our strategic goals
  • Generates sustainable shareholder returns and above market shareholder value

Job Skills
Business Process Improvements, Coaching, Employee Retention, Ethical Business, Fraud Risk Management, Matrix Management, Operational Risks, People Management, Performance Management (PM), Personal Development, Professional Etiquette, Resource Coordination, Risk Management, Stewardship, Vision Alignment
Additional Job Details
Address:
250 NICOLLET MALL:MINNEAPOLIS
City:
Minneapolis
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
WEALTH MANAGEMENT
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2026-05-15
Application Deadline:
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Our Employment Opportunities
At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.
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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.

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