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Medical Risk Management Jobs in Illinois (NOW HIRING)

Captive Resources

Underwriter

Itasca, IL

$100K - $135K/hr

Experience with medical claims analysis, pricing, and risk management is essential. SKILLS/COMPETENCIES REQUIREMENTS: * Stay updated on industry trends, regulatory changes, and best practices in ...

Captive Resources

Underwriter

Itasca, IL · On-site +1

Risk management principles and stop-loss insurance products. * Medical terminology, healthcare costs, and trends in medical claims. * Regulatory and compliance issues in insurance underwriting.

Bank of Montreal

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Business Management In-depth knowledge of Global Third-Party Risk Management processes, lifecycle ... medical conditions), sexual orientation, gender identity, gender expression, transgender status ...

BMO Financial

Third Party Risk Manager

Chicago, IL · On-site

$57K - $106K/yr

Business Management In-depth knowledge of Global Third-Party Risk Management processes, lifecycle ... medical conditions), sexual orientation, gender identity, gender expression, transgender status ...

New

BMO Capital Markets

Third Party Risk Manager

Chicago, IL

$57K - $106K/yr

Business Management In-depth knowledge of Global Third-Party Risk Management processes, lifecycle ... medical conditions), sexual orientation, gender identity, gender expression, transgender status ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/yr

Apply knowledge of enterprise risk management principles and methodologies to aid business partners ... Our featured benefit offerings include medical, dental and vision coverage, employer paid short ...

BMO Capital Markets

Third Party Risk Manager

Chicago, IL

$74K - $138K/yr

Business Management In-depth knowledge of Global Third-Party Risk Management processes, lifecycle ... medical conditions), sexual orientation, gender identity, gender expression, transgender status ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL

$80K - $133K/yr

Excellent communication and stakeholder management * High attention to detail Salary Range: $80,800 ... welfare benefits (medical, dental, vision, spending accounts and disability), paid time off ...

Clear Street

Associate Director, Risk & Margin

Chicago, IL · On-site

$125K - $170K/yr

Manage the daily calculation, issuance, and settlement of margin calls. * Ensure the accurate and ... full medical, dental and vision insurance. Our belief has always been that we are better as a ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Excellent communication and stakeholder management * High attention to detail Salary Range: $80,800 ... welfare benefits (medical, dental, vision, spending accounts and disability), paid time off ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Excellent communication and stakeholder management * High attention to detail Salary Range: $80,800 ... welfare benefits (medical, dental, vision, spending accounts and disability), paid time off ...

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Medical Risk Management information

What does a medical risk management do?

A medical risk management professional assesses and minimizes risks related to patient safety, legal compliance, and operational efficiency within healthcare settings. They analyze data, develop policies, and implement strategies to prevent medical errors and reduce liability, often working with healthcare providers and using tools like risk assessment software.

What is the difference between Medical Risk Management vs Medical Compliance Officer?

AspectMedical Risk ManagementMedical Compliance Officer
Primary FocusIdentifying and mitigating risks to improve patient safety and reduce liabilityEnsuring adherence to healthcare laws, regulations, and policies
CertificationsRisk management certifications (e.g., ARM, CRM), healthcare credentialsCompliance certifications (e.g., CHC, CHPC), healthcare background
Work EnvironmentHospitals, clinics, insurance companies, healthcare organizationsHealthcare facilities, regulatory agencies, healthcare organizations
Employer & Industry UsageUsed in healthcare risk assessment and safety programsUsed in regulatory compliance and policy enforcement

Medical Risk Management focuses on proactively reducing risks and enhancing patient safety, while Medical Compliance Officers ensure healthcare providers follow laws and regulations. Both roles require healthcare knowledge and certifications but serve different aspects of healthcare quality and safety.

How do you get a job in medical risk management at a hospital?

To pursue a career in medical risk management at a hospital, candidates typically need a bachelor's degree in healthcare administration, nursing, or a related field, along with experience in healthcare or risk management. Certifications such as the Certified Professional in Healthcare Risk Management (CPHRM) can enhance job prospects, and strong analytical, communication, and problem-solving skills are essential for success in this role.

How does a medical risk management professional typically collaborate with clinical teams to improve patient safety?

Medical Risk Management professionals regularly work alongside clinical teams to identify, assess, and mitigate potential risks that could impact patient safety. They participate in case reviews, facilitate root cause analyses after adverse events, and help develop protocols or training to prevent future incidents. Open communication and a collaborative approach are essential, as risk managers rely on clinical staff for insights and data, while providing guidance on compliance, regulatory requirements, and best practices in risk reduction.

Is healthcare risk management a good career?

Healthcare risk management is a growing field that involves identifying and reducing risks in medical settings to improve patient safety and compliance. It typically requires knowledge of healthcare regulations, risk assessment skills, and certifications such as the Certified Professional in Healthcare Risk Management (CPHRM). The profession offers stable employment opportunities and the potential for advancement within healthcare organizations.

What is medical risk management?

Medical risk management is the process of identifying, assessing, and mitigating risks that can affect patient safety, staff, and the overall functioning of healthcare organizations. Its primary goal is to minimize the likelihood of adverse events, such as medical errors or malpractice claims, by implementing policies, training, and continuous monitoring. This field involves collaboration with healthcare professionals, administrators, and legal experts to ensure compliance with regulations and improve patient outcomes. Professionals in medical risk management also analyze incidents, develop preventive strategies, and foster a culture of safety. Effective risk management helps protect both patients and organizations from harm and financial loss.

What are the key skills and qualifications needed to thrive in medical risk management, and why are they important?

To thrive in Medical Risk Management, you need a background in healthcare, risk assessment, and regulatory compliance, often supported by a degree in health administration or related fields. Familiarity with risk management software, incident reporting systems, and certifications like Certified Professional in Healthcare Risk Management (CPHRM) are highly valuable. Strong analytical thinking, attention to detail, and effective communication skills set top professionals apart in this field. These competencies are crucial for identifying potential risks, ensuring patient safety, and protecting healthcare organizations from legal or financial liabilities.

What are popular job titles related to Medical Risk Management jobs in Illinois?

For Medical Risk Management jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Medical Risk Management jobs in Illinois look for?

The top searched job categories for Medical Risk Management jobs in Illinois are:

Medical Risk Management jobs near you
Infographic showing various Medical Risk Management job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 79% Full Time, 15% Part Time, and 5% Contract. Highlights an 96% Physical, 1% Hybrid, and 3% Remote job distribution.

Director - Cyber Third Party Risk Management (CTPRM)

3M HEALTHCARE

Chicago, IL • On-site

$137.40 - $240.40/hr

Other

Medical, Dental, Vision, Life, Retirement, PTO

Posted 9 days ago

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.

Key Responsibilities
  • Define and execute the CTPRM strategy and roadmap for North America, aligned with global cybersecurity and enterprise risk objectives.
  • Own third‑party cyber risk frameworks, methodologies, service categorization, and risk reporting.
  • Lead cyber risk assessments, oversight, and remediation for critical and high‑risk third parties.
  • Drive continuous improvement in third‑party risk processes, automation, and tooling.
  • Provide cyber risk leadership for cloud migration, SaaS, outsourcing, and AI‑enabled third‑party engagements.
  • Partner with business, technology, procurement, legal, compliance, and privacy teams to embed security requirements into vendor lifecycle processes.
  • Lead internal and external audits related to third‑party cyber risk and ensure timely remediation of findings.
  • Develop and report KPIs and KRIs to measure program effectiveness and third‑party risk posture.
  • Act as the senior point of contact for third‑party cyber risk with executive stakeholders and regulators as required.
People Leadership
  • Lead, mentor, and develop a high‑performing CTPRM team in North America, with global collaboration.
  • Set goals, manage performance, and build future‑ready cyber and technology risk capabilities.
  • Oversee a hybrid delivery model, including onshore leadership and offshore execution.
Qualifications & Experience
  • 15+ years of experience in Cyber Risk, Technology Risk, Third‑Party Risk, Cloud Risk, or related disciplines.
  • Proven experience designing and leading enterprise‑wide risk and control frameworks.
  • Strong knowledge of cloud security, SaaS risk, AI systems, and complex digital architectures.
  • Solid understanding of North America regulatory and compliance expectations related to third‑party and technology risk.
  • Excellent stakeholder management, communication, and consultative skills.
  • Bachelor’s degree or equivalent experience required.
  • Certifications such as CISSP, CRISC, CCSK, CISM, or CISA preferred.
  • Applicants must be authorized to work in the U.S. without the need for employment‑based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H‑1B, L‑1, TN, O‑1, E‑3, H‑1B1, F‑1, J‑1, OPT, CPT or any other employment‑based visa).
Salary Range

$137,400 - 240,400 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!

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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