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Preferred Risk Insurance Jobs in Virginia (NOW HIRING)

Markel Corporation

Risk Solutions Specialist

Richmond, VA · On-site

$74K - $102K/yr

Preferred Experience: * Minimum of 3 to 5 years combined documented environmental consulting and/or E&E loss control/risk management experience * Demonstrated knowledge of insurance coverage and ...

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Preferred Risk Insurance information

What are the key skills and qualifications needed to thrive as a Preferred Risk Insurance Underwriter, and why are they important?

To thrive as a Preferred Risk Insurance Underwriter, you need a solid understanding of risk assessment, insurance policies, and underwriting principles, typically supported by a bachelor's degree in finance, business, or a related field. Familiarity with underwriting software, industry databases, and insurance regulations is crucial, and professional certifications like CPCU or AU are often preferred. Strong analytical thinking, attention to detail, and effective communication are vital soft skills for evaluating applications and collaborating with agents or clients. These skills ensure accurate risk evaluation, profitable decision-making, and regulatory compliance within the insurance industry.

What are some common challenges faced by professionals working in Preferred Risk Insurance, and how can they effectively address them?

Professionals in Preferred Risk Insurance often face the challenge of accurately assessing and underwriting applicants who fall within favorable risk categories, while ensuring compliance with regulatory standards. Balancing competitive pricing with profitability is another key challenge, as is staying updated on evolving risk factors and industry trends. To address these issues, it's important to maintain strong analytical skills, foster clear communication with underwriting and sales teams, and regularly participate in training sessions or industry seminars. Collaboration with actuaries and claims specialists is also essential to ensure consistent risk evaluation and policy management.

What is Preferred Risk Insurance?

Preferred Risk Insurance refers to insurance policies offered to individuals or businesses that are considered low risk by insurance companies. These policyholders typically have a favorable claims history, good credit, and other positive risk factors, which can result in lower premiums and better coverage options. Preferred risk categories exist in various types of insurance, including auto, home, and life insurance, and are used by insurers to reward responsible customers. Being classified as a preferred risk can help you save money and access more comprehensive insurance products.

What is the difference between Preferred Risk Insurance vs Commercial Insurance Agent?

AspectPreferred Risk InsuranceCommercial Insurance Agent
CredentialsLicenses required, often with specific state certificationsSame licenses, may require additional certifications for commercial policies
Work EnvironmentPrimarily office-based, handling personal insurance policiesOffice and client meetings, handling business and commercial policies
Industry UsageUsed by insurance companies to classify low-risk clientsUsed by agents to sell various insurance products, including commercial policies

Preferred Risk Insurance typically refers to clients or policies with lower risk profiles, often handled by agents specializing in personal insurance. Commercial Insurance Agents focus on selling policies for businesses, which usually involve higher risks. While both roles require licensing and industry knowledge, Preferred Risk Insurance emphasizes low-risk personal policies, whereas Commercial Insurance Agents deal with business-related coverage.

What are popular job titles related to Preferred Risk Insurance jobs in Virginia? For Preferred Risk Insurance jobs in Virginia, the most frequently searched job titles are:
What job categories do people searching Preferred Risk Insurance jobs in Virginia look for? The top searched job categories for Preferred Risk Insurance jobs in Virginia are:
What cities in Virginia are hiring for Preferred Risk Insurance jobs? Cities in Virginia with the most Preferred Risk Insurance job openings:
Preferred Risk Insurance jobs near you
Enterprise Risk Analyst

Enterprise Risk Analyst

Burke & Herbert Bank & Trust

Alexandria, VA • On-site

Full-time

Posted 5 days ago

Burke & Herbert Bank rating

5.6

Company rating: 5.6 out of 10

Based on 8 frontline employees who took The Breakroom Quiz

131st of 141 rated banks

Job description

CLASSIFICATION: Non-exempt


REPORTS TO: Regulatory Affairs Manager


DATE: April 30, 2026



JOB DESCRIPTION

Summary/Objective

The Enterprise Risk Analyst supports the execution and continued evolution of the Company’s Enterprise Risk Management (ERM) program, with specific focus on regulatory readiness to support anticipated continued growth. Reporting to the Regulatory Affairs Manager, this role provides advanced analytical, governance and program support to ensure risk management frameworks, documentation and reporting are appropriately scaled to meet heightened supervisory, governance and infrastructure expectations. The Enterprise Risk Analyst plays a key role in supporting risk management activities, including policy management, risk assessments, risk appetite, model risk management, issues management, insurance and ERM governance processes, while contributing to the development and implementation of sustainable, repeatable risk management practices.


Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


General / Governance

  • Serve as a key contributor to the execution, enhancement and ongoing maturity of the Company’s Enterprise Risk Management (ERM) framework, in alignment with Federal Reserve supervisory expectations.
  • Support governance of the ERM program by ensuring risk management activities are well documented, repeatable and supported by effective challenge and escalation processes.
  • Prepare and review ERM Committee materials, including risk appetite statements, dashboards/scorecards and related analyses, to support informed decision‑making and effective Board‑level oversight.
  • Act as a knowledgeable ERM resource to business partners, providing guidance on risk frameworks, documentation standards and regulatory expectations.
  • Contribute to change management initiatives impacting risk frameworks, processes, or governance, ensuring continued alignment with supervisory expectations and internal standards.
  • Assist the Regulatory Affairs Manager with drafting, updating and implementing related policies, procedures and processes.


Tactical Execution

  • Support regulatory examination activities by coordinating and tracking requests for materials, documenting key steps in the examination lifecycle, taking meeting notes and tracking remediation of examination findings.
  • Partner with Business Lines to facilitate non‑financial risk assessments, including risk identification, control evaluation, effective challenge and remediation tracking.
  • Partner with the Regulatory Affairs Manager to design and implement a Risk and Control Self‑Assessment (RCSA) framework that supports risk transparency and supervisory readiness.
  • Assist in monitoring adherence to the risk appetite framework, including tracking and ongoing escalation of metric breaches, as appropriate.
  • Support issues management processes across multiple sources and departments, with a focus on sustainable remediation and timely closure.
  • Analyze risk data and trends to support proactive identification of emerging risks and enhancements to risk reporting.
  • Provide support for model risk management activities, including model identification, maintenance of model inventories, documentation standards, issue tracking and Management/Board reporting.
  • Support the Company’s Policy Management process by helping establish and maintain the Policy Inventory, coordinating with policy owners to ensure timely updates, answering questions related to policy governance requirements and supporting adherence to required Board approval processes and timeframes.
  • Support administration of the Company’s insurance program, including annual renewals, coverage documentation, claims tracking, and payments.


Skills/Abilities

  • Strong organizational and attention-to-detail skills.
  • Ability to analyze and synthesize information across multiple risk domains.
  • Excellent written and verbal communication skills.
  • Strong Microsoft Office skills (Excel, Word, PowerPoint).
  • Experience working with SharePoint or similar document management platforms.
  • Ability to manage multiple priorities and deadlines in a collaborative environment.
  • Working knowledge of enterprise risk management concepts, regulatory risk or financial services risk practices preferred.


Other Duties

  • Perform other duties as assigned.

Supervisory Responsibility

This position does not have supervisory responsibilities.


Work Environment

This job operates in an office setting, the opportunity to telework is not available. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.


Physical Demands

This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.


Travel

Limited local travel may be required for this position.

Education and Experience

  • Related Bachelor’s Degree, or equivalent additional related experience, required; Master’s degree preferred.
  • Two years of experience in a risk management, compliance or a similar role in the financial services industry.
  • Risk management and/or regulatory management certifications preferred.



Equal Employment Opportunity/M/F/disability/protected veteran status


Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.