Senior Risk Analyst

 

Let’s care for tomorrow.

Your ambitions.  Your dreams.  Your tomorrow.

Whether it’s aircraft, international business or offshore wind parks, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.   

 

We are looking for a Senior Risk Analyst, who will be based in the O’Fallon or Chicago office.  This will be a hybrid role.

 

Your Team

Our team is committed to invest in our people through training and professional development while supporting you along the way—all so you can meet your career goals. To us, the most important measure of our success is yours.

 

The Impact You Will Have

Support ERM functions for Allianz Global Risk US through quantitative and qualitative risk analysis across underwriting, claims, reserving, operational, financial, and strategic risk areas. Conduct RCAs, ORSA drafting, Top Risk Assessments, incident management, stop-loss analysis, and RBC oversight. Leverage data analytics, coding, and GenAI tools to automate analysis, develop Power BI dashboards, and enhance risk insights for management reporting. Requires entrepreneurial spirit to identify opportunities, drive innovation, and deliver creative risk management solutions, while being collaborative and comfortable working in a team environment.

 

Some of your specific responsibilities could include:

• Lead RCAs across underwriting, claims, finance, IT, and operations.
• Identify, assess, and document inherent, residual, and emerging risks with control effectiveness evaluation.
• Support annual Top Risk Assessment and maintain enterprise risk registers.
• Prepare ORSA documentation per NAIC, OSFI, and state regulatory requirements.
• Support scenario design, stress testing, and capital impact analysis.
• Assist with regulatory exams, audits, and ERM governance responses.
• Work closely with the Capital Management team to understand the RBC analysis including capital ratios and drivers of change.
• Conduct stop-loss, retention, and reinsurance analysis.
• Perform stress testing and sensitivity analysis for loss experience, catastrophes, and operational risks.
• Manage risk incidents and loss events with root cause analysis and remediation tracking.
• Identify trends and emerging risk signals.
• Maintain loss event databases and incident reporting processes.
• Automate risk analysis and reporting using Python, SQL, R.
• Develop Power BI dashboards for KRIs, loss trends, capital metrics, and risk appetite.
• Apply GenAI to draft assessments, identify patterns, improve documentation efficiency, and pilot innovative analytics.
• Prepare risk reports and presentations for ERM committees, executives, and Board.
• Translate complex analyses into actionable insights for non-technical stakeholders.
• Partner across underwriting, claims, actuarial, finance, compliance, audit, and IT to embed risk practices.
• Drive continuous improvement and stay current on P&C risk trends and emerging technologies.

 

What You’ll Bring to the Role:

• 3–5 years in enterprise, operational, insurance, or financial risk within P&C insurance.
• Experience in qualitative and quantitative risk disciplines.
• Hands-on experience with RCSAs, Top Risk Assessments, ORSA, and incident management.
• Strong analytical, problem-solving, and documentation skills.
• Excellent written and verbal communication.
• Experience with NAIC RBC, capital adequacy, stress testing, stop-loss, and reinsurance structures.
• Proficiency in Power BI, advanced Excel, Python, SQL, R and GenAI tools in professional environments.
• Bachelor’s degree.
• Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is preferred.

 

External applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.

 

The annualized base pay range for this role is $77364 - $116909.  The annual base salary range represents nationwide market range. The actual salary for this position may be above and 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. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

 

Be advised that the position you are applying for involves responsibilities related to cash handling. As part of our commitment to ensuring the safety and security of our operations, all candidates ( internal and external) selected for this role will be required to undergo a background check. This process includes, but is not limited to, verification of criminal history and financial history. By applying for this position, you acknowledge and consent to the background check as a condition of employment. 

 

90386 | Finance & Accounting | Professional | Allianz Commercial | Full-Time | Permanent

 

What’s in it for you? 

 

Let’s care about everything that makes you, you 

We are committed to nurturing an inclusive environment where everyone feels they belong.  We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working.  Please feel free to discuss flexible working arrangements with us. 

 

Let’s care for your financial wellbeing 

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension. 

 

Let’s care for your opportunities to progress 

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered. 

 

Let’s care for life’s twists and turns 

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back. 

 

Let’s care for our society and our planet 

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients. 

 

Care to join us? 

 

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

 

Learn more about careers at Allianz Commercial by clicking here.

 

Learn more about Allianz Commercial by clicking here.

 

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

 

We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

 

Join us. Let's care for tomorrow. 

 

People with disabilities: 

We want to give all our candidates the best opportunity to succeed.  If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com

 

Recruitment Agencies: 

Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm.Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired.  When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.

 

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