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Insurance Risk Manager Jobs in Tinley Park, IL (NOW HIRING)

Crowe LLP

Third Party Risk Manager

Chicago, IL · On-site

Manager - Third Party Risk The position will be primarily responsible for managing and leading Third Party Risk Management (TPRM) engagements, including oversight of third-party assessments, client ...

Deloitte

Cyber Insider Risk Manager

Chicago, IL · On-site

Cyber Defense & Resilience - Insider Risk Manager Are you interested in working in a dynamic environment that offers opportunities for professional growth and new responsibilities? If so, Deloitte ...

Deloitte

Cyber Insider Risk Manager

Chicago, IL · On-site

Cyber Defense & Resilience - Insider Risk Manager Are you interested in working in a dynamic environment that offers opportunities for professional growth and new responsibilities? If so, Deloitte ...

Crowe LLP

Third Party Risk Manager

Chicago, IL

The Third Party Risk Manager position will be primarily responsible for managing and leading the assessment of the information security posture of key clients' third parties while overseeing the ...

Wedbush

Vice President, Market Risk Manager

Chicago, IL · On-site

$125K - $200K/yr

The primary function of this role is to act as a Market Risk Analytics Manager focusing on futures, options on futures, FX, power products and Fixed Income. Responsibilities include, but are not ...

BMO Capital Markets

Manager, Risk Appetite

Chicago, IL · On-site

$74K - $138K/yr

Data Analytics & Reporting Role Summary The Manager, Enterprise Risk Appetite (ERA), is an ... BMO also offers health insurance, tuition reimbursement, accident and life insurance, and ...

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All JobsInsurance Risk JobsInsurance Risk Manager JobsInsurance Risk Manager Jobs in Tinley Park, IL

Insurance Risk Manager information

See Tinley Park, IL salary details

$80K

$117.8K

$180.3K

How much do insurance risk manager jobs pay per year?

As of Aug 8, 2026, the average yearly pay for insurance risk manager in Tinley Park, IL is $117,797.00, according to ZipRecruiter salary data. Most workers in this role earn between $97,900.00 and $133,800.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as an Insurance Risk Manager?

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 Tinley Park, IL? For Insurance Risk Manager jobs in Tinley Park, IL, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Manager jobs in Tinley Park, IL look for? The top searched job categories for Insurance Risk Manager jobs in Tinley Park, IL are:
What cities near Tinley Park, IL are hiring for Insurance Risk Manager jobs? Cities near Tinley Park, IL with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Tinley Park, IL as of August 2026, with employment types broken down into 90% Full Time, 5% Part Time, and 5% Contract. Highlights an 82% In-person, 9% Hybrid, and 9% Remote job distribution, with an average salary of $117,797 per year, or $56.6 per hour.

Manager, Insurance Optimization Services - Corporate Performance Improvement

Alvarez & Marsal

Chicago, IL • On-site

Full-time

Medical, Life, Retirement, PTO

Posted 11 days ago

Alvarez & Marsal rating

7.2

Company rating: 7.2 out of 10

Based on 7 frontline employees who took The Breakroom Quiz

54th of 72 rated business consultants

Job description

Description
About Alvarez & Marsal
Alvarez & Marsal (A&M) is a global consulting firm with over 10,000 entrepreneurial, action and results-oriented professionals in over 40 countries. We take a hands-on approach to solving our clients' problems and assisting them in reaching their potential. Our culture celebrates independent thinkers and doers who positively impact our clients and shape our industry. The collaborative environment and engaging work-guided by A&M's core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity-are why our people love working at A&M.
The Team
A&M's Insurance Optimization Services (IOS) business unit provides support to a client company's in-house insurance managers (Risk Manager and Benefits Manager) as an independent, deeply experienced insurance Total Cost of Risk (TCOR) strategic advisor. IOS works exclusively for the client, with no influence from external compensation sources. This advisory relationship is achieved by IOS collaborating with the client's insurance broker(s), insurance carrier(s), and third-party providers to optimize the client's insurance programs, thereby generating for the client significant value creation and annual EBITDA improvement.
How you will contribute
A respected leader and a trusted advisor to clients within the Insurance industry. You are excited to leverage your experience to transform and optimize insurance products for our clients to drive growth and profitability via continuous innovation.
Professional Experience Desired
  • Prior customer and market-facing experience in the insurance industry. Experience as a risk manager, insurance broker, underwriter, coverage specialist or consultant providing similar services is highly preferred.
  • Direct responsibility for customer management, sales, and contract negotiations
  • Significant experience in large-scale transactions
  • Experience should include complex quality of earnings, valuation, collateral, financing, and cash flow analysis
  • Hands-on or prior advisory experience with unique elements impacting transactions including captives, loss portfolio transfers, transition services, purchase agreements and day-one readiness assessments
  • Demonstrable track-record of experience with a broad spectrum of insurance coverages with emphasis on financial lines (D&O, GPL, E&O, Cyber), specialties coverages, commercial liability, and workers compensation
  • Experience managing vendor performance (brokers, third party administrators, actuaries, and other consultants)
  • Familiarity with enterprise risk management (ERM) implementation and frameworks (ISO 3100, COSO)
  • Experience utilizing risk tools (actuarial and benchmarking)
Professional Skills Required
  • Strong communication skills written, oral, and analytical with ability to listen and develop clear, credible, and concise responses to complex / technical client concerns
  • Initiative to lead and drive
  • Critical thinking, process, and organizational skills with thorough attention to detail, but discernment between what is critical vs. interesting
  • Ability to develop critical insights and make strategic recommendations based upon relevant metrics
  • Structured project management (time, team, and work-stream's management)
  • Ability to deliver time-pressured projects on-time and with the highest (error-free) quality
  • Ability to identify key operational performance drivers and flexibility to support clients with a broad array of issues
  • Core accounting knowledge and impacts of risk on financial and operational results
  • Flexible and creative thinking
  • Advanced Excel and PowerPoint skills
Qualifications
  • Bachelor's degree in insurance / risk management, Business Administration, or other relevant degree with a preference for advanced education including MBA, JD or other
  • 4+ years of previous related risk management, insurance brokerage, underwriting and coverage
  • Prior consulting experience is a plus
  • Significant knowledge of the marketplace
  • Flexibility with respect to travel
Your journey at A&M
We recognize that our people are the driving force behind our success, which is why we prioritize an employee experience that fosters each person's unique professional and personal development. Our robust performance development process promotes continuous learning, rewards your contributions, and fosters a culture of meritocracy. With top-notch training and on-the-job learning opportunities, you can acquire new skills and advance your career.
We prioritize your well-being, providing benefits and resources to support you on your personal journey. Our people consistently highlight the growth opportunities, our unique, entrepreneurial culture, and the fun we have together as their favorite aspects of working at A&M. The possibilities are endless for high-performing and passionate professionals.
Regular employees working 30 or more hours per week are also entitled to participate in Alvarez & Marsal Holdings' fringe benefits consisting of healthcare plans, flexible spending and savings accounts, life, AD&D, and disability coverages at rates determined periodically as well as a 401(k) retirement savings plan. Provided the eligibility requirements are met, employees will also receive an annual discretionary contribution to their 401(k) retirement savings plan from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave. The amount of vacation and personal days available varies based on tenure and role type. Click here for more information regarding A&M's benefits programs.
The salary range for Managers is $130,000 - $160,000 annually, dependent on several variables including but not limited to education, experience, skills, and geography. In addition, A&M offers a discretionary bonus program which is based on a number of factors, including individual and firm performance. Please ask your recruiter for details.
Alvarez & Marsal recruits on an ongoing basis. Candidates are considered as they apply, until the opportunity is filled. Candidates are encouraged to apply expeditiously to any role(s) that they are qualified for and that are of interest to them.

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