Risk Manager

Business

Owns a contracting company's own insurance and risk program, the contractor's-side counterpart to the insurance industry careers this site otherwise only covers from the claims side.

What is a Risk Manager?

A Risk Manager designs and oversees a construction company's insurance and risk management program, deciding what coverage the company carries, managing claims when they happen, and working to reduce the company's exposure before a loss occurs. It's distinct from a Safety Manager, who focuses on preventing incidents on the jobsite itself; a Risk Manager thinks about the company's overall financial exposure, insurance program design, contract risk allocation, and claims outcomes across every project the company runs.

What they do

• Manage the company's general liability, builder's risk, and workers' compensation insurance programs
• Review contracts for risk allocation, indemnification, and insurance requirements before they're signed
• Manage insurance claims when incidents or losses occur
• Analyze loss data and safety trends to identify where the company's risk is concentrated
• Work with insurance brokers and underwriters on coverage renewals and program structure
• Advise project teams on risk transfer strategies (subcontractor insurance requirements, additional insured status)

A typical day

• 8:00 AMReview the company's open claims and follow up on any that need attention
• 9:30 AMReview a large upcoming contract's insurance and indemnification requirements
• 11:00 AMMeet with the company's insurance broker on a builder's risk policy renewal
• 1:30 PMAnalyze recent incident data to identify a trend worth addressing company-wide
• 3:00 PMAdvise a project team on subcontractor insurance requirements for an upcoming bid

Skills

Software

Pay expectations

Reviewed October 2026. Risk Manager is typically reached through promotion or years of experience in a related role, not a day-one starting point, so this chart shows the pay range for people already working as a Risk Manager rather than entry-level pay. "Lower range" is the lower part of the national wage distribution for this occupation, "typical" sits around the national median, and "top of scale" is the upper part, since pay isn't actually tracked by years on the job. Real pay varies a lot by state, metro area, union status, and employer, so scale these up or down for your market.

Education

Required:

Bachelor's degree in risk management, insurance, finance, or a related field; no license is legally required for this role

Preferred:

RIMS-CRMP (Certified Risk Management Professional), an ANSI-accredited, competency-based credential from RIMS, or CPCU (Chartered Property Casualty Underwriter)

Not necessary:

A construction-specific degree; many risk managers come from an insurance or finance background and learn the construction-specific risks on the job

Career progression

1. 1.Risk Analyst
2. 2.Risk Manager
3. 3.Director of Risk Management
4. 4.Chief Risk Officer

Who hires for this role