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Senior Risk Manager Jobs in Illinois (NOW HIRING)

Geneva Trading

Global Head of Risk Management

Chicago, IL · On-site

$225K - $300K/yr

At least 7 years' relevant experience as a Senior Risk Manager in a derivatives trading environment * Experience with futures, options, cryptocurrency, and power trading strategies and risk ...

Capital One

Manager, Risk Manager

Riverwoods, IL

Strong communication and stakeholder management skills, with a proven track record of influencing senior leadership through audit findings and risk insights At this time, Capital One will not sponsor ...

Smarkets

Chief Risk Officer

Chicago, IL · On-site

$150 - $200/hr

Senior risk leader with 7+ years of senior experience in risk management, ideally within derivatives markets, exchanges, clearinghouses, or other financial infrastructure providers. * 4+ years of ...

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Senior Risk Manager information

See Illinois salary details

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$114.6K

$203.5K

How much do senior risk manager jobs pay per year?

As of Aug 15, 2026, the average yearly pay for senior risk manager in Illinois is $114,595.00, according to ZipRecruiter salary data. Most workers in this role earn between $81,900.00 and $140,500.00 per year, depending on experience, location, and employer.

Is a senior risk manager a stressful job?

A senior risk manager role involves identifying and mitigating financial or operational risks, which can be stressful due to high responsibility and the need for accuracy. The job often requires strong analytical skills, attention to detail, and the ability to handle pressure during critical decision-making processes.

How much do senior risk managers make in the US?

Senior risk managers in the US typically earn a median annual salary of around $120,000 to $150,000, with experienced professionals and those in high-demand industries earning higher. Compensation can vary based on location, industry, and level of experience, and often includes bonuses and benefits. Strong analytical skills and certifications like FRM or CRM can enhance earning potential.

What does a typical day look like for a senior risk manager?

A Senior Risk Manager’s day often includes analyzing complex data to assess potential financial, operational, or strategic risks and developing mitigation strategies accordingly. You’ll regularly collaborate with business leaders across departments, provide expert advice during project planning, and prepare detailed risk reports for executive management or compliance committees. Additionally, you may oversee junior risk team members, guide audit processes, and participate in risk review meetings. This role offers dynamic daily challenges that require both independent analysis and team-oriented communication, making it ideal for those who enjoy both strategic thinking and hands-on collaboration.

What does a senior risk manager do?

A Senior Risk Manager identifies, assesses, and mitigates potential risks that could impact an organization's financial health, operations, or reputation. They develop risk management strategies, ensure compliance with industry regulations, and collaborate with various departments to implement risk controls. Additionally, they analyze market trends and internal processes to proactively address potential threats. Their goal is to minimize risk exposure while supporting business objectives and long-term sustainability.

What are the key skills and qualifications needed to thrive as a senior risk manager?

To excel as a Senior Risk Manager, you need strong analytical capabilities, a deep understanding of risk assessment methodologies, and a relevant degree such as finance, economics, or business administration. Familiarity with risk modeling software, governance frameworks (like COSO or ISO 31000), and industry certifications such as FRM or CRM are highly valued. Exceptional communication, leadership, and decision-making skills help distinguish top performers in this role. These abilities are essential for effectively identifying, evaluating, and mitigating potential risks while supporting organizational objectives.

What are popular job titles related to Senior Risk Manager jobs in Illinois?

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What job categories do people searching Senior Risk Manager jobs in Illinois look for?

The top searched job categories for Senior Risk Manager jobs in Illinois are:

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Cities in Illinois with the most Senior Risk Manager job openings:

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Senior Risk Manager jobs near you
Infographic showing various Senior Risk Manager job openings in Illinois as of August 2026, with employment types broken down into 95% Full Time, and 5% Part Time. Highlights an 90% In-person, 5% Hybrid, and 5% Remote job distribution, with an average salary of $114,595 per year, or $55.1 per hour.

Senior Vice President, Risk & Portfolio Analytics

Unison Risk Advisors

Chicago, IL • On-site

Full-time

Re-posted 23 days ago

Job description

Position Summary

The Senior Vice President, Risk & Portfolio Analytics role will be based in our Chicago office and will lead the analytics function across all platform MGAs and play a critical role in shaping underwriting strategy. This role serves as an independent, data-informed voice to the business, providing portfolio insight, pricing discipline, and performance analysis that support sound underwriting and capital decisions.

This is a senior leadership role spanning portfolio management, actuarial oversight, catastrophe risk analysis (RMS), business intelligence, and product review. The successful candidate will build and mentor a high-performing team, strengthen analytics capabilities across the organization, and partner closely with underwriting, technology, finance, and risk capital stakeholders.

Key Responsibilities

·       Lead the analytics function by delivering portfolio reporting, deep-dive performance analysis, and actionable insight into underwriting trends across the group.

·       Translate complex data into clear decision support for senior leadership, underwriting teams, and external stakeholders through well-structured reports, exhibits, and data visualizations.

·       Oversee business intelligence and reporting capabilities, including the continued development of our reporting dashboard platform and other automated reporting tools in partnership with the software development team.

·       Provide regular management reporting on key portfolio KPIs across the underwriting platform.

·       Direct actuarial and exposure management activities, including rate methodology reviews, pricing adequacy assessments, exposure monitoring, and portfolio trend analysis by geography and class of business.

·       Produce ad hoc portfolio and carrier analytics, including premium, aggregate, and modelling projections, to support business planning and stakeholder requests.

·       Perform actuarial analysis, including loss ratio projections, technical loss picks, projection oversight, and coordination with external actuarial partners where appropriate.

·       Oversee catastrophe risk modelling workflows for property lines and provide concise, decision-ready exposure accumulation reporting to business leaders.

·       Review new products and contract structures to ensure pricing adequacy, technical soundness, and readiness for market rollout.

·       Establish and maintain robust documentation for pricing frameworks, portfolio modelling methodologies, and internal analytics processes.

·       Build, mentor, and develop a high-performing team of analytically strong professionals while fostering a culture of curiosity, rigor, and continuous improvement.

QualificationsThe ideal candidate will bring a strong blend of technical expertise, commercial judgment, and leadership capability.Key Qualifications:

·       Significant experience within an insurance carrier, reinsurance company, underwriting agency, MGA/MGU, or international insurance or reinsurance broker.

·       A strong foundation in actuarial science; progress toward or completion of ACAS, FCAS, or an equivalent analytical credential is preferred.

·       Demonstrated knowledge of ISO-based pricing methodologies and commercial property and casualty rating structures.

·       Demonstrated experience working with risk modelling platforms, including RiskModeler (RMS).

·       Hands-on experience with advanced analytical and reporting tools such as SQL, Python, Power BI, Sigma, or proprietary insurance systems.

·       A proven ability to communicate complex analytical issues clearly and credibly to executive leadership, underwriting teams, and external stakeholders.

·       Strong leadership skills, including the ability to recruit, mentor, and develop high-potential analytical talent.

·       A collaborative, intellectually curious approach with the confidence to provide independent challenge and constructive insight together with the ability to communicate complex themes clearly at all levels of the organization and to key stakeholders.

SSalary Range: $120,000-$200,000

Employment Type: FULL_TIME

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