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Insurance Risk Manager Jobs in Willowbrook, IL (NOW HIRING)

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 ...

Indeed

Senior Insurance Analyst

Chicago, IL · On-site

Maintain and update risk management documentation (e.g., certificates of insurance, local policies) to ensure accuracy and consistency across entities. * Partner with Finance to ensure premium ...

New

Deloitte

Cyber Insider Risk Manager

Chicago, IL

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 ...

Swiss Re

Clinical Risk Manager

Schaumburg, IL · Hybrid

$84K - $140K/yr

This position is ideal for applicants looking to enter the insurance sector in a nurse consultant ... management notes * Identify high risk associated with individuals and communicate required stop ...

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Showing results 21-40

All JobsInsurance Risk JobsInsurance Risk Manager JobsInsurance Risk Manager Jobs in Willowbrook, IL

Insurance Risk Manager information

See Willowbrook, IL salary details

$81.6K

$120.2K

$184K

How much do insurance risk manager jobs pay per year?

As of Aug 12, 2026, the average yearly pay for insurance risk manager in Willowbrook, IL is $120,173.00, according to ZipRecruiter salary data. Most workers in this role earn between $99,900.00 and $136,500.00 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 job categories do people searching Insurance Risk Manager jobs in Willowbrook, IL look for? The top searched job categories for Insurance Risk Manager jobs in Willowbrook, IL are:
What cities near Willowbrook, IL are hiring for Insurance Risk Manager jobs? Cities near Willowbrook, IL with the most Insurance Risk Manager job openings:
Insurance Risk Manager jobs near you
Infographic showing various Insurance Risk Manager job openings in Willowbrook, IL as of August 2026, with employment types broken down into 1% As Needed, 74% Full Time, 20% Part Time, and 5% Contract. Highlights an 92% Physical, 1% Hybrid, and 7% Remote job distribution, with an average salary of $120,173 per year, or $57.8 per hour.

Hedge Fund Risk Manager

Northern Trust

Chicago, IL • On-site

$80K - $133K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 29 days ago

Northern Trust rating

8.2

Company rating: 8.2 out of 10

Based on 27 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Role Overview
We are seeking an experienced Risk Manager to join our investment team and oversee risk across a diversified portfolio of external hedge fund managers. This role focuses on portfolio-level risk aggregation, manager-level due diligence, and forward-looking risk analytics to support investment decision-making.
The ideal candidate will act as a strategic partner to the investment team, providing actionable insights on portfolio construction, diversification, and downside risk management.
Essential Duties and Responsibilities
Portfolio Risk Oversight
  • Monitor and aggregate risk exposures across underlying hedge funds by strategy, asset class, and geography
  • Assess market, liquidity, concentration, leverage, and tail risks
  • Ensure alignment with risk budgets and investment objectives

Manager Risk Assessment
  • Conduct risk-focused due diligence on hedge fund managers
  • Evaluate strategy risk, leverage, derivatives use, and drawdowns
  • Challenge portfolio construction and hedging assumptions

Risk Analytics & Reporting
  • Maintain VaR, stress testing, and scenario analysis models
  • Build dashboards and deliver risk reporting to senior stakeholders
  • Provide actionable insights to investment decision-makers

Liquidity & Capital Planning
  • Assess liquidity terms including lockups and gates
  • Monitor portfolio liquidity vs investor redemption terms
  • Run stress scenarios for market dislocation events

Portfolio Construction Support
  • Advise on allocation sizing and diversification
  • Identify hidden correlations and portfolio risks
  • Support investment decisions with forward-looking risk views

Ongoing Monitoring & Surveillance
  • Track risk metrics regularly
  • Identify early warning signals such as style drift or anomalies
  • Participate in ongoing manager monitoring

Qualifications
Necessary Experience and Education
  • 3 - 5 years in hedge fund risk management, fund of funds, asset management, risk management or related roles.
  • Bachelor's degree in Finance, Economics, Mathematics, or related field. CFA or FRM preferred.

Necessary Technical Skills
  • Strong understanding of hedge fund strategies
  • Expertise in VaR, stress testing, and risk modeling
  • Prior experience with MSCI RiskMetrics
  • Proficiency in Excel, Power BI, or SQL

Necessary Core Competencies
  • Strong analytical and quantitative skills
  • Ability to interpret limited transparency data
  • Excellent communication and stakeholder management
  • High attention to detail

Salary Range:
$80,800 - 133,400 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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