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 May 2025. Pay reflects the national wage distribution for this occupation, not a promise for any one job: entry level is the lower part of that range, 5 years in sits around the national median, and 10 years in 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 — scale these up or down for your market. These figures are base pay only: overtime, shift differentials, and per-project bonuses are standard across most construction trades and routinely push real earnings above what's shown here.

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