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Senior Risk Manager Jobs in Chicago, IL (NOW HIRING)

Associatedbank

Model Risk Manager

Chicago, IL · On-site

The position offers the opportunity to influence enterprise-wide risk management strategies and work closely with senior leadership, regulators, and business partners. Key Accountabilities * Lead the ...

HUB

Senior Risk Consultant

Chicago, IL · On-site

Serve as a trusted advisor to senior client stakeholders, translating complex risk findings into ... Conduct management and employee training sessions on risk and safety topics for clients as needed.

DV Trading

Credit Risk Manager

Chicago, IL · On-site

DV is looking for a Credit Risk Manager to lead its counterparty and credit risk management ... This role will partner closely with senior leadership to enhance the firm's credit risk framework ...

DV Trading

Credit Risk Manager

Chicago, IL

$150K - $200K/yr

DV is looking for a Credit Risk Manager to lead its counterparty and credit risk management ... This role will partner closely with senior leadership to enhance the firm's credit risk framework ...

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Senior Risk Manager information

See Chicago, IL salary details

$23.2K

$121.9K

$216.5K

How much do senior risk manager jobs pay per year?

As of Sep 13, 2026, the average yearly pay for senior risk manager in Chicago, IL is $121,919.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,100.00 and $149,500.00 per year, depending on experience, location, and employer.

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 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.

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 higher compensation possible in large financial institutions or with extensive experience and certifications such as FRM or CRM. Salaries can vary based on industry, location, and the complexity of risk management responsibilities.

What are popular job titles related to Senior Risk Manager jobs in Chicago, IL?

For Senior Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Senior Risk Manager jobs in Chicago, IL look for?

The top searched job categories for Senior Risk Manager jobs in Chicago, IL are:

Senior Risk Manager jobs near you
Infographic showing various Senior Risk Manager job openings in Chicago, IL as of September 2026, with employment types broken down into 86% Full Time, 13% Part Time, and 1% Contract. Highlights an 87% Physical, 2% Hybrid, and 11% Remote job distribution, with an average salary of $121,919 per year, or $58.6 per hour.

Senior Vice President, Risk & Portfolio Analytics

Chicago, IL • On-site

Unison Risk Advisors
See more jobs at Unison Risk Advisorsexternal

$120K - $200K/yr

Full-time

Re-posted 20 days ago

Job description

Senior Vice President, Risk & Portfolio Analytics- Job Description
Position Summary
The Senior Vice President, Risk & Portfolio Analytics exists to lead and own the analytics capability across Avoca Risk and its affiliated MGAs. The role is accountable for delivering data-driven portfolio insights, pricing discipline, and performance analytics that support underwriting strategy, capital allocation, and business growth. This position owns a critical enterprise capability spanning actuarial oversight, catastrophe modeling, business intelligence, and portfolio management, serving as both a strategic advisor and hands-on leader. The role directly supports organizational growth, underwriting performance, and scalable analytics transformation.
Key Responsibilities
Functional Leadership & Ownership
  • Ownership of the enterprise analytics function across all platform MGAs.

  • Accountability for analytics strategy, governance, and roadmap execution.

  • Acting as a subject matter expert and primary decision-maker for portfolio analytics, pricing, and risk insights.

  • Partnering with underwriting, finance, technology, and capital stakeholders to align analytics outputs with business needs.

Hands-On Execution & Delivery
  • Direct execution of deep-dive portfolio analysis, actuarial evaluations, and pricing assessments.

  • Overseeing catastrophe modeling workflows and exposure analytics using RMS and related tools.

  • Designing and maintaining analytics processes, reporting structures, and evaluation frameworks.

  • Supporting product and contract reviews to ensure pricing adequacy and technical soundness.

  • Creation and maintenance of portfolio reporting, dashboards, and KPI tracking.

  • Ensuring accuracy, quality, and integrity of analytics outputs and data.

  • Providing regular management reporting and ad hoc analytics for decision support.

  • Monitoring portfolio performance, identifying risks, and resolving issues proactively.

Cross-Functional Partnership & Integration
  • Partnering with underwriting, finance, and technology teams to integrate analytics into business workflows.

  • Translating complex analytics into clear, decision-ready insights for senior leadership and stakeholders.

  • Supporting alignment across functions and ensuring analytics outputs meet downstream needs.

  • Improving collaboration and resolving cross-functional challenges.

Growth, Change & Special Initiatives
  • Leading or supporting growth initiatives, new program launches, and analytics expansion efforts.

  • Participating in planning, execution, and delivery of transformation initiatives.

  • Building scalable processes and repeatable analytics frameworks.

  • Ensuring continuity and alignment during organizational change.

Process Improvement & Best Practices
  • Identifying opportunities to enhance analytics processes, tools, and methodologies.

  • Driving automation and scalability across reporting and modeling capabilities.

  • Staying current on actuarial, analytics, and insurance industry best practices.

  • Championing adoption of improved, efficient ways of working.

Center of Excellence (COE) Contribution
  • Contributing thought leadership and expertise to the analytics capability across the enterprise.

  • Translating strategy into scalable analytics tools, frameworks, and processes.

  • Developing documentation, playbooks, and standards.

  • Partnering with functional groups to deliver integrated solutions and support change initiatives.

Accountability
  • Delivering effective, scalable, and strategy-aligned analytics outcomes.

  • Maintaining high standards of quality, accuracy, and reliability.

  • Supporting execution during growth, transformation, and change.

  • Building strong cross-functional partnerships and demonstrating ownership and sound judgment in decision-making.

Qualifications
Required
  • Significant experience within insurance, reinsurance, MGA/MGU, or brokerage environments.

  • Strong actuarial foundation with ACAS, FCAS, or equivalent progress preferred.

  • Knowledge of ISO-based pricing methodologies and P&C structures. Experience with RMS or other catastrophe modeling platforms.

  • Hands-on experience with SQL, Python, Power BI, or similar tools.

  • Demonstrated leadership and ability to build and develop teams.

  • Strong communication and stakeholder influence skills.

Preferred
  • Experience leading analytics transformation or enterprise initiatives.

  • Advanced certifications in actuarial or analytics disciplines.

  • Experience operating in multi-entity or global environments.

Key Competencies
  • Strategic & Systems Thinking

  • Ownership & Accountability

  • Data-Driven Decision Making

  • Process Design & Continuous Improvement

  • Consulting, Influence & Collaboration

  • Change Agility

  • Business Acumen
Compensation
The base salary range for this position is $120,000-$200,000 annually. Individual compensation will be determined based on a variety of factors including relevant experience, skills, education, and internal equity.

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