Risk Management Manager Salary in Chicago, Illinois

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Average Salary for Risk Management Manager in Chicago, Illinois

The average salary of a(n) Risk Management Manager in Chicago, Illinois is $115,528.

The average hourly rate of a(n) Risk Management Manager in Chicago, Illinois is $55.54.

The average bonus of a(n) Risk Management Manager in Chicago, Illinois is $9,531.00.

Job Description:

Manages, plans, and coordinates risk and insurance programs of establishment to control risks and losses. Identifies, evaluates, and implements corrective action against risks that may result in injury, property loss, damage, or legal liability. Analyzes and classifies risks as to frequency and potential severity, and measures financial impact of risk on company. Selects appropriate technique to minimize loss, such as avoidance (reducing chance of loss to zero), loss prevention and reduction (reducing frequency and severity of loss), retention (including self-insurance and planned noninsurance), grouping of exposure units (to increase predictability of loss), and transfer (placement of property, activity, or risk with other establishment or insurers). Directs insurance negotiations, selects insurance brokers and carriers, and places insurance. Appoints claims and self-insurance administrators, and allocates program costs. Prepares operational and risk reports for management analysis. Manages insurance programs, such as fidelity, surety, liability, property, group life, medical, pension plans, and workers' compensation. Prepares operational and risk reports for management analysis. May direct loss prevention and safety programs. May select and direct activities of safety, engineering, and loss prevention experts. May negotiate with unions for employee benefits. Less

Manages, plans, and coordinates risk and insurance programs of establishment to control risks and losses. Identifies, evaluates, and implements corrective action against risks that may result in injury, property loss, damage, or legal liability. Analyzes and classifies risks as to... More

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