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Vice President Risk Management Jobs in Chicago, IL

PDP Group, Inc.

VP - General Liability

Chicago, IL · On-site

... and risk information; further communicate findings and analysis to senior management. Initiate ... Provide SVP and Management with custom management information (MI), including but not limited to ...

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All JobsVice President Risk Management JobsVice President Risk Management Jobs in Chicago, IL

Vice President Risk Management information

See Chicago, IL salary details

$44.8K

$162.3K

$285.9K

How much do vice president risk management jobs pay per year?

As of Sep 3, 2026, the average yearly pay for vice president risk management in Chicago, IL is $162,281.00, according to ZipRecruiter salary data. Most workers in this role earn between $118,500.00 and $195,700.00 per year, depending on experience, location, and employer.

What does a vice president risk management do?

A Vice President of Risk Management is responsible for identifying, assessing, and mitigating risks that could impact an organization's financial performance, reputation, or operations. They develop strategies and policies to manage risks related to compliance, financial markets, operations, and industry regulations. Additionally, they often lead teams, collaborate with other executives, and ensure that the company adheres to best practices in risk mitigation. Their work helps protect the organization from potential losses and ensures long-term business stability.

What are some common challenges faced by a vice president risk management and how can they be addressed?

A Vice President of Risk Management often faces the challenge of balancing regulatory compliance with the organization's strategic objectives. Keeping up with evolving regulations, managing cross-departmental communication, and implementing comprehensive risk assessment frameworks are key hurdles. Addressing these challenges requires continuous professional development, fostering a strong risk-aware culture across teams, and leveraging advanced risk management technologies. Successful VPs also prioritize regular collaboration with legal, finance, and operational leaders to ensure risks are identified and mitigated early.

What are the key skills and qualifications needed to thrive as a vice president risk management, and why are they important?

To thrive as a Vice President of Risk Management, you need deep expertise in risk analysis, regulatory compliance, financial modeling, and a relevant degree—often supported by certifications like FRM or CRM. Familiarity with risk assessment software, enterprise risk management (ERM) platforms, and quantitative analysis tools is typically required. Strong leadership, strategic thinking, and excellent communication skills help drive risk culture and collaborate with executive stakeholders. These competencies are crucial to effectively identify, mitigate, and communicate risks, ensuring the organization's resilience and regulatory alignment.

What is the difference between Vice President Risk Management vs Risk Analyst?

AspectVice President Risk ManagementRisk Analyst
CredentialsBachelor's/Master's in Finance, Risk Management, or related fields; certifications like FRM or CRMBachelor's degree in Finance, Economics, or related fields; certifications like FRM are a plus
Work EnvironmentExecutive-level, strategic planning, leadership roles in corporate officesAnalytical, data-driven roles often in offices or financial institutions
Employer & IndustryFinancial institutions, corporations, insurance companiesFinancial firms, banks, insurance companies, consulting firms

The Vice President Risk Management holds a senior leadership role focused on strategic risk oversight, while a Risk Analyst performs detailed risk assessments and data analysis. The VP sets policies and directs teams, whereas the Risk Analyst supports these efforts through analysis and reporting.

What are the most commonly searched types of Risk Management jobs in Chicago, IL?

The most popular types of Risk Management jobs in Chicago, IL are:

What are popular job titles related to Vice President Risk Management jobs in Chicago, IL?

For Vice President Risk Management jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Vice President Risk Management jobs in Chicago, IL look for?

The top searched job categories for Vice President Risk Management jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Vice President Risk Management jobs?

Cities near Chicago, IL with the most Vice President Risk Management job openings:

Vice President Risk Management jobs near you
Infographic showing various Vice President Risk Management job openings in Chicago, IL as of August 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $162,281 per year, or $78 per hour.

VP, Practice Leader - Management Liability

Hiscox Ltd

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted yesterday

Key responsibilities

  • Lead the Management Liability product portfolio by establishing underwriting strategy, risk appetite, pricing, and coverage direction.

  • Monitor industry trends, market conditions, and regulatory changes to make recommendations for policy and pricing adjustments.

  • Work closely with cross-functional teams to deliver innovative, competitive, and compliant insurance solutions and manage product launches and performance monitoring.

Job description

Job Type:
Permanent
Build a brilliant future with Hiscox
VP, Practice Leader - Management Liability
Reports to: SVP, Head of Professional Lines Underwriting
Location: NYC, Atlanta, Chicago, Hartford, Boston
Band: III
Travel: Up to 25%
Team:
Works closely with cross-functional stakeholders including all distribution channels, marketing, distribution development, claims, actuarial, underwriting operations, as well as the CUO org.
Role Overview:
The VP, Practice Leader - Management Liability is a strategically critical leader responsible for driving profitable growth and technical excellence across all Hiscox USA channel business. This role combines product management and underwriting leadership, overseeing the full product lifecycle, risk selection, and innovation for both digital and intermediated channels.
The successful candidate will own and deliver the P&L for their product(s) by setting vision and strategy, driving strong change management and fostering a culture of collaboration, customer-centricity, and continuous improvement.
  • Underwriting Leadership / Market Leadership Responsibility: Lead the Management Liability product portfolio by establishing underwriting strategy, risk appetite, pricing and coverage direction, while driving profitable growth, market relevance, and underwriting excellence through portfolio management, broker engagement, product innovation, and technical leadership of the underwriting team
  • Underwriting Excellence: For the Management Liability product, set and deliver underwriting excellence for your product, including:
    • Monitor industry trends, market conditions, and regulatory changes, making recommendations for insurance policy and pricing adjustments and developing and underwriting adjustments.
    • Set individual risk, concentration risk, and aggregate limit strategies.
    • Manage underwriter authority and deliver technical training as needed.
    • Build and maintain underwriting tools for risk evaluation, including applications, guidelines, risk scoring, and data utilization.
  • Market & Risk Analysis: Conduct market research and risk analysis to identify expansion opportunities, customer segments, pain points, opportunities, trends, and emerging risks for your product(s) and can communicate key themes to internal/external stakeholders.
  • Portfolio & Risk Management: Define and prioritize product and underwriting initiatives based on customer value, business impact, technical feasibility, and risk appetite. Implement strategies for risk selection, assessment, and robust underwriting controls.
  • Cross-Functional Collaboration: Work closely with marketing, distribution development, claims, actuarial, and underwriting operations teams to deliver innovative, competitive, and compliant insurance solutions to enable market growth.
  • Product & Underwriting Tools: Identify, build and maintain tools for product management and risk evaluation, including applications, guidelines, risk scoring, and data utilization - using 3rd party vendors where appropriate.
  • Go-to-Market -Performance and Monitoring: Partnering with channel leads, manage product launches, go-to-market activities, and underwriting rollouts-including positioning, messaging, pricing, distribution, and authority management. Measure and monitor performance, profitability, and customer satisfaction using quantitative and qualitative methods.
  • Continuous Improvement: Solicit and incorporate feedback from customers, underwriters, stakeholders, and users to continuously improve product quality, underwriting, pricing and user experience. Adjust and update policy language and practices in response to industry trends, profitable growth opportunity, regulatory changes, claims experience and loss ratio insights.
  • Training & Best Practices: Identify training topics, wet training agendas, deliver technical and product training, and develop best practices for knowledge sharing for underwriting operations.

Qualifications:
  • 10+ years of experience in product management and/or underwriting of Management Liability (D&O, EPL, Crime, Fiduciary) products.
  • Bachelor's degree in business, engineering, computer science, or related field; MBA or advanced degree preferred.
  • Strong commercial knowledge of customer segments, competitors, and trends for Management Liability
  • Exceptional skills in product visioning, strategy formulation, roadmap development, prioritization, and execution.
  • Strong strategic thinking and sound decision-making skills to drive sustainable profitability and long-term growth.
  • Innovative and entrepreneurial outlook with commercial sensibilities.
  • Highly analytical, data-driven, and adept at problem-solving.
  • Exceptional communication and presentation skills, with ability to influence senior executives, internal stakeholders and key customers/brokers.
  • Experience with Lloyd's of London, CPCU or RPLU designation a plus.

What We Offer:
  • 401(k) with competitive company matching
  • Comprehensive health insurance, vision, dental and FSA plans (medical, limited purpose, and dependent care)
  • Company paid group term life, short- term disability and long-term disability coverage
  • 24 Paid time off days plus 2 Hiscox days,10 paid holidays plus 1 paid floating holiday, and ability to purchase up to 5 PTO days
  • Paid parental leave
  • 4-week paid sabbatical after every 5 years of service
  • Financial Adoption Assistance and Medical Travel Reimbursement Programs
  • Annual reimbursement up to $600 for health club membership or fees associated with any fitness program
  • Company paid subscription to Headspace to support employees' mental health and wellbeing
  • 2024 Gold level recipient of Cigna's Healthy Workforce Designation for having a best-in-class health and wellness program
  • Dynamic, creative, and values-driven culture
  • Modern and open office spaces, complimentary drinks
  • Spirit of volunteerism, social responsibility, and community involvement, including matching charitable donations for qualifying non-profits via our sister non-profit company, the Hiscox USA Foundation

Salary Range: $200k-$250k
The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.
**Please note that this position is hybrid and requires two (2) days in our office weekly**
About Hiscox:
As an international specialist insurer, we are far removed from the world of mass market insurance products. Instead, we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.
We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.
Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.
Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.
About Hiscox USA:
Hiscox USA was established in 2006 to focus primarily on the needs of small and middle market commercial clients, via both the broker and direct distribution channels and is today the fastest-growing business unit within the Hiscox Group.
Today, Hiscox USA has a talent force of about 500 employees mostly operating out of 6 major cities - New York, Atlanta, Dallas, Chicago, Los Angeles and Scottsdale. Hiscox USA offers a broad portfolio of commercial products, including technology, cyber & data risk, multiple professional liability lines, media, entertainment, management liability, crime, kidnap & ransom, and terrorism.
You can follow Hiscox on LinkedIn, Glassdoor and Instagram (@HiscoxInsurance)
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