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Insurance Risk Manager Jobs in Oakbrook Terrace, IL

Invenergy

Manager, Insurance (Captive)

Chicago, IL

Provide regulatory, insurance, risk management, underwriting expertise, and administrative captive management support. * Coordinate new placements and renewal efforts with brokers, consultants ...

First Industrial

Insurance Coordinator

Chicago, IL · On-site

$58K - $68K/yr

Interacts with Corporate Insurance/Risk Management when needed to adjust contract requirements or complete internal waiver documentation. Essential Job Functions * Analyze and interpret lease and ...

First Industrial

Insurance Coordinator

Chicago, IL · On-site

$58K - $68K/yr

Interacts with Corporate Insurance/Risk Management when needed to adjust contract requirements or complete internal waiver documentation. Essential Job Functions * Analyze and interpret lease and ...

JP Morgan Chase

Industry Risk Manager

Chicago, IL

As a Manager within our Industry Risk team, you will support Bankers and KYC Officers by providing subject matter expertise regarding AML risks presented by specific High-Risk Industries (TPPPs, MSBs ...

Capital One

Senior Risk Manager

Riverwoods, IL

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 ...

New

Deloitte

Financial Risk Manager

Chicago, IL · On-site

Financial Services Manager - Financial Risk Our Deloitte Regulatory, Risk & Forensic team helps client leaders translate multifaceted risk and an evolving regulatory environment into defensible ...

JPMorgan Chase & Co.

Industry Risk Manager

Chicago, IL · On-site

$108K - $183K/yr

As a Manager within our Industry Risk team, you will support Bankers and KYC Officers by providing subject matter expertise regarding AML risks presented by specific High-Risk Industries (TPPPs, MSBs ...

Northern Trust

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 ...

Northern Trust

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 ...

Northern Trust

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 ...

Early Warning Services

IT Risk Manager

Chicago, IL · Hybrid

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 ...

Capital One

Manager, Risk Advisor

Riverwoods, IL · On-site

Manager, Risk Advisor Do you want to be part of an organization that's dedicated to helping Capital One identify, manage and effectively mitigate risk? Can you build relationships and employ ...

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Showing results 21-40

All JobsInsurance Risk JobsInsurance Risk Manager JobsInsurance Risk Manager Jobs in Oakbrook Terrace, IL

Insurance Risk Manager information

See Oakbrook Terrace, IL salary details

$83K

$122.2K

$187.1K

How much do insurance risk manager jobs pay per year?

As of Jul 25, 2026, the average yearly pay for insurance risk manager in Oakbrook Terrace, IL is $122,192.00, according to ZipRecruiter salary data. Most workers in this role earn between $101,600.00 and $138,800.00 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 Oakbrook Terrace, IL look for? The top searched job categories for Insurance Risk Manager jobs in Oakbrook Terrace, IL are:
What cities near Oakbrook Terrace, IL are hiring for Insurance Risk Manager jobs? Cities near Oakbrook Terrace, IL with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Oakbrook Terrace, IL as of July 2026, with employment types broken down into 1% As Needed, 70% Full Time, 23% Part Time, and 6% Contract. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution, with an average salary of $122,192 per year, or $58.7 per hour.
Manager, Insurance (Captive)

Manager, Insurance (Captive)

Invenergy LLC

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 15 days ago

Invenergy rating

8.6

Company rating: 8.6 out of 10

Based on 7 frontline employees who took The Breakroom Quiz

Job description

Invenergy is North America's largest privately held developer, owner, and operator of power infrastructure. With 25 years of trusted execution, we deliver reliable, affordable energy through a diverse portfolio that includes natural gas, solar, land-based wind, energy storage, transmission, and domestic manufacturing. Headquartered in Chicago, we develop, own, and operate large scale projects that power communities and support the energy future.
This position will be open for application for at least 3 calendar days from the posting date. This position will remain open for application based on business need, which may be before or after the 3-day posting window.
Job Description
Position Overview:
The Manager, Insurance will be responsible for overseeing the captive insurance program. This person will be the SME for the captive insurance program here at Invenergy.
Responsibilities:
  • Support Vice President, Insurance, with all aspects of the captive insurance requirements of an energy portfolio.
  • Work collaboratively with brokers, reinsurers, and tax/legal counsel to develop and evaluate insurance products, policy terms and conditions, as well as evaluate written coverage to outgoing/ceded reinsurance.
  • Support development of business plans and pro forma financial statements. Maintain financial and operational records.
  • Provide regulatory, insurance, risk management, underwriting expertise, and administrative captive management support.
  • Coordinate new placements and renewal efforts with brokers, consultants, insurers and Invenergy's insurance team.
  • Oversee timely and efficient management of insurance and reinsurance documentation.
  • Oversee premiums billing and manage collateral requirements.
  • Provide claims support.
  • Manage communication with state regulators for changes to the insurance program/business plan.
  • Support the preparation for an participate in board meetings.

Basic Qualifications
  • Bachelor's degree in insurance, risk management or other relevant majors
  • 5+ years of working insurance or risk management industry experience
  • Eligible to work in the United States without the need for employer visa sponsorship now or in the future

Preferred Skills
  • Power and/or natural gas experience is preferred.
  • Other majors may be acceptable if supported by strong industry experience and insurance industry designations such as CPCU and ARM.
  • Working experience with setting up and operating captive insurance companies/cells.
  • Commercial Insurance experience including, Property, Casualty, Forced Outage, Capacity payments, parametric, tax and representations and warranties insurance is preferred.
  • Insurance or risk management designations.
  • Ability to communicate verbally and in writing in Spanish or Japanese is a strong asset.
  • Track record of being able to work reliably under tight timelines, experience training junior team members and propose, design and implement process improvements.
  • Strong analytical and problem-solving skills and good attention to details.
  • Exceptional organizational and time management skills to complete settlement responsibilities in accordance with internal and external deadlines.
  • Must be able to work independently with minimal oversight as well as in a team setting.
  • Exhibit effective written and oral communication skills, including email, Skype and Microsoft Teams video conferencing, phone, and in-person communications.
  • Must be a self-starting and motivated team player who is able to efficiently become skilled at new systems and effectively manage deadlines.

Base Pay
120,000.00 - 139,000.00 USD Annual
Bonus: 25% - 40%
The base pay range reflects the minimum and maximum target salary for the position. Invenergy considers a number of factors when determining base pay offers such as the scope and responsibilities of the position and the candidate's experience, education and skills.
In addition to base pay, the total annual compensation package may also include eligibility to participate in our bonus program(s) which are designed to reward individual and company performance. Your recruiter can share more about bonus eligibility for this position during the hiring process.
Invenergy offers a variety of other benefits including medical, dental and vision insurance, 401k, paid time off, etc.
Invenergy LLC is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to, among other things, race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a protected veteran, or disability.

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