Probabilistic Risk Assessment Engineer Jobs in Chicago, IL

Are you a seasoned Property Risk Engineering professional ready to make a real impact in the commercial insurance world? Do you thrive on building meaningful client relationships, driving risk improvement, and working at the intersection of technical expertise and business strategy? If so, Swiss Re Corporate Solutions wants to hear from you. We're on a mission to become the leading service provider in the commercial insurance industry - and we need sharp, driven, and collaborative minds to help us get there.

About the Role

As a Senior Risk Engineer - West Central Region on our North America Property Risk Engineering team, you'll be a key technical authority - shaping how we assess, manage, and improve risk for some of the largest and most complex commercial clients in the market. Based in Chicago, you'll work at the heart of our West Central Region General Property portfolio, partnering closely with underwriters, brokers, and customers to deliver exceptional risk engineering services across both domestic and international programs. This is a role where your expertise directly influences business outcomes, and where no two days look the same.

Key Responsibilities

• Act as a Strategic Advisor to underwriting and our clients shifting beyond transactional assessments to create insight-driven decisions, stronger and deeper client partnerships and lasting value
• Lead account servicing for multinational and domestic large and medium-sized corporate clients as part of their property insurance programs, serving as the primary technical point of contact
• Support Swiss Re's West Central Region general property portfolio, driving continued growth across direct insurance, primary lead business, and international business - both for bound and new business
• Review, interpret, and summarize risk assessments conducted by Swiss Re Corporate Solutions risk engineers, service partners, and third-party insurance risk engineers, ensuring accuracy and actionable insights
• Collaborate with and advise underwriters on risk quality and exposure for existing accounts and new business opportunities, enabling preferred risk selection
• Perform full account engineering functions including developing customer service plans, negotiating fees, coordinating field servicing, managing service partners, and engaging with underwriters, brokers, and clients
• Leverage Risk Engineering data analytics tools to conduct portfolio analysis and benchmarking, develop account stewardship materials, provide value-added customer support, and drive meaningful risk improvement efforts
• Conduct on-site risk assessments and operations reviews periodically to verify risk mitigation approaches and provide customers with practical, impactful, risk insights and risk improvement  advice
• Preparation  of external loss control and internal underwriting reports, as well as developing project loss control specifications, and performing project plan review
• Develop strategies to expand positioning on current accounts and cross-sell other lines of business in close cooperation with underwriting  and  customer / distribution management
• Collaborate closely with our key Underwriting stakeholders as well as other business partners (Customer Distribution Management and Claims)  throughout the servicing and prospecting lifecycle
• Analyze emerging loss trends by linking loss prevention expertise with loss experience, enabling cross-functional collaboration across Risk Engineering Services (RES), underwriting, and claims
• Serve as account engineer for international programs, including North America-based accounts and accounts from other regions requiring servicing in North America, delivering a full complement of global risk engineering services
• Develop fee-for-service risk engineering proposals and quotations on global programs, working with a variety of global loss prevention standards and an international risk engineering network

About the Team

As a member of our global Risk Engineering Services (RES) community, you'll be fully embedded in the NA RES Team - a collaborative, forward-thinking group of professionals committed to delivering best-in-class risk engineering services across the US market. Our team plays a meaningful role in supporting the US West Central Region of our General Property Team, and we take pride in the depth of expertise and the strength of relationships we've built across the industry.

We are deeply committed to individual growth and development. Based on your skills and interests, future opportunities may include developing specialized expertise in dedicated core industries or subject matters, leading strategic projects and initiatives, contributing to the development and implementation of new strategies, creating standard methodologies, guidelines, and industry papers, or pioneering innovative new service offerings. This is a team that invests in its people - and celebrates their success.

About You

We're looking for an open-minded, trustworthy, and enthusiastic professional who brings both deep technical expertise and a genuine passion for client service. You're someone who can engage constructively and respectfully in challenging conversations, take initiative without waiting to be asked, and perform with confidence under pressure. You're equally comfortable in the field and in the boardroom - and you know how to translate complex risk concepts into clear, actionable recommendations that resonate with diverse audiences.

We are looking for candidates who meet these requirements:

• Bachelor's degree in Engineering (mechanical, electrical, industrial, chemical or civil discipline)
• 6 -10+ years of relevant experience in property risk engineering with a reputable provider, including a strong background in property loss prevention and control in the NA Commercial Insurance Market
• Combined field engineer and account engineer experience, with a demonstrated track record of managing large, complex commercial accounts
• Deep knowledge of property construction, fire protection systems (sprinkler systems, alarm systems, etc.) and human element property conservation programs (e.g., Hot Work Permit Programs, Fire Protection Impairment Supervision Programs)
• Strong expertise in NatCat exposures including Earthquake, Flood, Windstorm, and related perils  
• Ability to develop loss expectancies (maximum possible loss, anticipated loss potential, and normal loss potential scenarios)  
• Strong understanding of business interruption exposure in its various forms (CBI, IBI, etc.) - in line with industry practices

These are additional nice to haves:

• Broad industry knowledge across general manufacturing, plastics, food, real estate, retail, warehousing, metal working, technology, healthcare, and hospitality
• Specialized industry expertise in a variety of occupancies including chemical, steel, automotive, pharmaceutical, telecom, semiconductor, and/or forestry (woodworking and pulp & paper) sectors
• Working knowledge of NFPA standards and practical familiarity with Factory Mutual data sheets or similar Highly Protected Risk (HPR) standards
• Property insurance background, or a strong combination of property insurance and industrial experience
• International Programs experience, including servicing global fronting and lead risk engineering programs, developing fee-for-service proposals, and working effectively with a global risk engineering network and diverse global loss prevention standards
• Proficiency in data analytics, benchmarking, portfolio risk management, and/or automation capabilities, along with solid digital literacy (Microsoft Office, databases, and data analytics platforms)
• Strong interpersonal and client-facing communication skills, both written and verbal, with the ability to build trust and lasting relationships across all levels
• Business acumen and a customer-first mindset, with the energy, pro-activity, and collaborative spirit to thrive in a fast-paced, team-oriented environment
• Willingness to travel periodically, primarily within the US

The role will be located in our Chicago, IL office. Our company uses a hybrid work model requiring at least three days in the office each week, with the option to work onsite full-time if preferred. 

The estimated base salary range for this position is $156,000 to $246,000. The specific salary offered for this, or any given role will take into account a number of factors including but not limited to job location, scope of role, qualifications, complexity/specialization/scarcity of talent, experience, education, and employer budget. At Swiss Re, we take a "total compensation approach" when making compensation decisions. This means that we consider all components of compensation in their totality (such as base pay, short- and long-term incentives, and benefits offered), in setting individual compensation.