Risk Management Specialist

Risk Management Specialist | No Sponsorship Available

Risk Management Specialist
Job Details:
Compensation: $70,000 – $85,000
Work Environment:
Hybrid
Office

Location:

Oakbrook, IL
Travel:
Less than 10%

The Risk Management Specialist will play a critical role in supporting the organization’s Enterprise Risk Management (ERM) efforts. This position provides broad exposure to enterprise risk, vendor risk oversight, insurance fraud compliance, regulatory reporting, and operational risk initiatives. Working closely with leaders across the business, the selected candidate will help identify potential risks, evaluate controls, support compliance requirements, and strengthen the company’s overall risk management framework.

• Support vendor risk management activities, including due diligence reviews, risk assessments, annual evaluations, and ongoing monitoring.
• Maintain vendor inventories, risk management systems, and related reporting to ensure accurate and compliant records.
• Assist with enterprise risk assessments, risk tracking, mitigation planning, and maintenance of risk registers.
• Prepare dashboards, key risk indicator reporting, and trend analyses for management and leadership teams.
• Coordinate insurance fraud investigations, regulatory filings, documentation, and fraud awareness training initiatives.
• Help ensure compliance with insurance regulations, ORSA requirements, NAIC reporting, and anti-fraud standards.
• Review SOC reports, monitor control-related findings, and support internal and external audit requests.
• Partner with cross-functional teams on strategic projects, process enhancements, and automation opportunities across risk programs.

• Bachelor’s degree in Risk Management, Business, Technology, Accounting, Finance, or a related discipline required.
• 0-2 years of experience in Enterprise Risk Management, Internal Audit, Compliance, Insurance Operations, Finance, or a related field.
• Exposure to Third-Party Risk Management, vendor governance, GRC platforms, or risk management frameworks is highly preferred.
• Experience with GRC platforms, vendor management systems, or data visualization tools (Power BI preferred).
• Strong analytical, organizational, and problem-solving abilities.
• Strong relationship-building and stakeholder management skills.
• Insurance industry experience or familiarity with insurance regulations is highly preferred.