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How much do vp risk management jobs pay per year?

As of Sep 3, 2026, the average yearly pay for vp risk management in Chicago, IL is $147,501.00, according to ZipRecruiter salary data. Most workers in this role earn between $108,700.00 and $172,500.00 per year, depending on experience, location, and employer.

What is a VP Risk Management?

A VP of Risk Management is a senior executive responsible for identifying, assessing, and mitigating risks that could impact an organization's financial health, operations, or reputation. They develop risk management strategies, ensure regulatory compliance, and work closely with other senior leaders to safeguard the company from potential threats. This role requires strong analytical skills, industry expertise, and the ability to make strategic decisions to minimize risk exposure while supporting business growth.

What are the key skills and qualifications needed to thrive as a VP Risk Management?

To thrive as a VP Risk Management, you need deep expertise in risk assessment, regulatory compliance, and financial analysis, typically supported by an advanced degree in finance, business, or a related field. Familiarity with risk management software, data analytics tools, and certifications such as FRM (Financial Risk Manager) or CRM (Certified Risk Manager) is highly valuable. Strategic thinking, strong leadership, and exceptional communication abilities are crucial soft skills to excel in this position. These skills ensure the development and implementation of effective risk mitigation strategies that protect the organization's assets and reputation.

What are the primary challenges a VP Risk Management typically faces in this role?

A VP Risk Management often encounters challenges related to navigating complex regulatory environments, adapting to rapidly evolving market or technological risks, and aligning risk management strategies with organizational goals. You will regularly coordinate with senior leadership and cross-functional teams to identify emerging risks and develop responsive policies and procedures. Balancing risk appetite with business growth objectives and effectively communicating risk exposures to stakeholders are crucial responsibilities. These challenges make the role dynamic and integral to the long-term success of the company.

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:

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

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Vp Risk Management jobs near you
Infographic showing various Vp Risk Management job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 14% Part Time, and 2% Contract. Highlights an 90% Physical, 2% Hybrid, and 8% Remote job distribution, with an average salary of $147,501 per year, or $70.9 per hour.

Senior Vice President, Risk & Portfolio Analytics

Unison Risk Advisors

Chicago, IL

$120K - $200K/yr

Full-time

Re-posted 11 days ago

Key responsibilities

  • Own and lead the enterprise analytics function across all platform MGAs, including strategy, governance, and roadmap execution.

  • Perform deep-dive portfolio analysis, actuarial evaluations, pricing assessments, and oversee catastrophe modeling workflows.

  • Partner with underwriting, finance, and technology teams to integrate analytics into business workflows and support decision-making.

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. 

Employment Type: FULL_TIME

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