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Probabilistic Risk Assessment Engineer Jobs in Addison, IL

Tempus AI

Senior Cyber Risk Analyst

Chicago, IL · On-site

... assessment methodologies to accurately calculate risk impact/severity, likelihood/occurence, and ... engineers, operators, and data scientists. Company : Tempus is a technology company advancing ...

Liberty Mutual

Senior Risk Engineer- Powergen

Chicago, IL

$101K - $120K/yr

Assess operational plants and construction projects, including complex and large-scale exposures ... Experience in risk engineering, power generation, renewable energy, or a related technical field.

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Manage counterparty credit risk assessment and ongoing monitoring for clearing members. * Develop ... with engineering, product, and commercial teams to embed risk thinking into business decisions.

Riskexec

Software Engineer

Chicago, IL · Hybrid

... risk, measurable reduction in human review load, and structured, explainable AI-generated ... Production reliability under deterministic + probabilistic system: performance, reliability ...

Tempus

Senior Cyber Risk Analyst

Chicago, IL · On-site

$110K - $130K/yr

Apply standardized risk assessment methodologies to accurately calculate risk impact/severity ... engineers, operators, and data scientists. #LI-HR1 #LI-Hybrid CHI: $110,000-$130,000 The expected ...

Tempus

Senior Cyber Risk Analyst

Chicago, IL · Hybrid

$110K - $130K/yr

Apply standardized risk assessment methodologies to accurately calculate risk impact/severity ... engineers, operators, and data scientists. #LI-HR1 #LI-Hybrid CHI: $110,000-$130,000 The expected ...

Northern Trust

Sr Principal Engineer

Chicago, IL · On-site

$129K - $178K/yr

... Risk Assessment, and Compliance Monitoring processes. • Deliver end-to-end implementations within the ServiceNow platform, with a focus on IRM/GRC solutions. • Drive integration efforts between ...

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All JobsProbabilistic Risk Assessment Engineer JobsProbabilistic Risk Assessment Engineer Jobs in Addison, IL

Probabilistic Risk Assessment Engineer information

See Addison, IL salary details

$38.1K

$116.1K

$191.9K

How much do probabilistic risk assessment engineer jobs pay per year?

As of Jun 14, 2026, the average yearly pay for probabilistic risk assessment engineer in Addison, IL is $116,081.00, according to ZipRecruiter salary data. Most workers in this role earn between $83,200.00 and $151,800.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Probabilistic Risk Assessment Engineer, and why are they important?

To thrive as a Probabilistic Risk Assessment Engineer, you need a solid background in mathematics, statistics, and engineering principles, generally supported by a degree in engineering or a related field. Familiarity with specialized software such as SAPHIRE, RiskSpectrum, or CAFTA, as well as industry-specific standards and certifications like ASME or NRC guidelines, is typically required. Strong analytical thinking, attention to detail, and effective communication skills are essential for interpreting complex data and presenting findings to diverse stakeholders. These skills and qualifications are crucial for accurately assessing risks, ensuring regulatory compliance, and supporting the safety and reliability of critical systems.

What is a Probabilistic Risk Assessment Engineer?

A Probabilistic Risk Assessment (PRA) Engineer is a professional who evaluates the likelihood and potential consequences of risks in complex systems, often in industries such as nuclear power, aerospace, or chemical processing. They use quantitative methods and statistical models to analyze possible failure scenarios and their impacts, helping organizations make informed decisions about safety and reliability. PRA Engineers play a crucial role in identifying vulnerabilities, recommending risk mitigation strategies, and ensuring compliance with regulatory standards. Their work helps minimize the chances of catastrophic failures and improves overall system safety.

How does a Probabilistic Risk Assessment Engineer typically collaborate with other engineering and safety teams during a project?

Probabilistic Risk Assessment Engineers frequently work in multidisciplinary teams, collaborating closely with safety engineers, systems engineers, and project managers to analyze and mitigate potential risks. They provide quantitative risk assessments that inform design decisions, operational procedures, and regulatory compliance efforts. Regular meetings and data-sharing sessions are common, ensuring that risk insights are integrated throughout the project lifecycle. This collaborative environment enables effective communication of complex risk scenarios and fosters a culture of safety and continuous improvement.

What is the difference between Probabilistic Risk Assessment Engineer vs Fault Tree Analyst?

AspectProbabilistic Risk Assessment EngineerFault Tree Analyst
CredentialsEngineering degree, certifications in risk analysis or reliabilityEngineering or technical background, certifications in fault tree analysis
Work EnvironmentIndustry settings like energy, aerospace, nuclear; risk modelingSafety analysis teams, engineering departments; fault tree development
Employer & Industry UsageUsed by utilities, aerospace, nuclear plants for risk assessmentUsed in safety engineering, accident prevention, reliability studies

Both roles focus on safety and risk analysis but differ in scope. Probabilistic Risk Assessment Engineers develop comprehensive models to quantify risks, while Fault Tree Analysts focus specifically on fault tree development to identify failure pathways. The roles often collaborate but serve distinct functions within safety and reliability teams.

What cities near Addison, IL are hiring for Probabilistic Risk Assessment Engineer jobs? Cities near Addison, IL with the most Probabilistic Risk Assessment Engineer job openings:
Probabilistic Risk Assessment Engineer jobs near you
AVP, Risk Manager

AVP, Risk Manager

Zurich Insurance Group

Schaumburg, IL • Hybrid

Other

Posted 24 days ago

Job description

Zurich North America is seeking an AVP, Risk Manager to provide second line oversight and governance across business units. This role partners with senior stakeholders to ensure risk management practices are effectively embedded, supports risk-informed decision making, and ensures alignment with enterprise and regulatory expectations.

The AVP, Risk Manager can work out of our Chicago, IL or Schaumburg, IL North America HQ in a hybrid schedule.  This person will report to the Head of Strategic and Operational Risk.

The AVP-Risk Manager will provide independent oversight and challenge of business unit risk activities, ensuring effective governance and alignment with enterprise standards. This person will lead and support project and strategic risk assessments, support execution and ongoing management of TRP and SAOR frameworks, including coordination, review, and consolidate risk inputs to support enterprise reporting, oversee risk action plans, including monitoring progress, assessing effectiveness, and validating; trigger and manage the quarterly attestation process, ensuring timely and complete submissions.

Basic Qualifications:

  • Bachelor's Degree in Risk Management and 7 or more years of experience in the Risk Management area OR
  • High School Diploma or Equivalent and 9 or more years of experience in the Risk Management area OR
  • Zurich Certified Insurance Apprentice including an Associate's Degree in Risk Management and 7 or more years of experience in the Risk Management area AND
  • 7 or more years in the insurance or financial industry, including experience in different technical functions
  • Knowledge in risk management or risk engineering

Preferred Qualifications:

  • Strong ability to challenge and influence senior stakeholders
  • Experience with risk frameworks, governance, and regulatory expectations
  • Proven ability to manage multiple priorities and deliver high-quality outputs
  • Strong written and verbal communication skills
  • Advanced degree and/or professional risk or finance certification
  • Demonstrates independent judgment and effective challenge
  • Applies an enterprise-wide perspective to risk assessment and decision-making
  • Influences outcomes in a matrixed environment
  • Ensures strong governance, execution, and delivery discipline
  • Builds capability through coaching and enablement across teams

Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply-your unique background matters to us.

The pay range shown is a national average and may vary by location. The proposed salary range for this position is $110,220 - $180,510, with short-term incentive bonus eligibility set at 20%.

 

Why Zurich?

At Zurich, we value your ideas and experience. We offer growth, inclusion, and a supportive environment-so you can help shape the future of insurance. Zurich North America is a leader in risk management, with over 150 years of expertise and coverage across 25+ industries, including 90% of the Fortune 500.

Join us for a brighter future-for yourself and our customers.

Zurich in North America does not discriminate based on race, ethnicity, color, religion, national origin, sex, gender expression, gender identity, genetic information, age, disability, protected veteran status, marital status, sexual orientation, pregnancy or other characteristics protected by applicable law. Equal Opportunity Employer disability/vets.

Zurich complies with 18 U.S. Code 1033.

 

Please note: Zurich does not accept unsolicited CVs from agencies. Preferred vendors should use our Recruiting Agency Portal.

Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No  
Linkedin Recruiter Tag: #LI-MG1 #LI-DIRECTOR 

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