Supervisor, Risk Management Salary at Utica National Insurance Group BETA
How much does an Utica National Insurance Group Supervisor, Risk Management make?
As of December 2024, the average annual salary for a Supervisor, Risk Management at Utica National Insurance Group is $122,240, which translates to approximately $59 per hour. Salaries for Supervisor, Risk Management at Utica National Insurance Group typically range from $102,718 to $138,909, reflecting the diverse roles within the company.
It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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What Skills Does a person Need at Utica National Insurance Group?
At Utica National Insurance Group, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
- Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
- Consulting: Providing technical or business expertise and advice to internal or external clients.
- Risk Assessment: Broadly speaking, a risk assessment is the combined effort of: identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. risk analysis); and making judgments "on the tolerability of the risk on the basis of a risk analysis" while considering influencing factors (i.e. risk evaluation).Put in simpler terms, a risk assessment analyzes what can go wrong, how likely it is to happen, what the potential consequences are, and how tolerable the identified risk is. As part of this process, the resulting determination of risk may be expressed in a quantitative or qualitative fashion. The risk assessment is an inherent part of an overall risk management strategy, which attempts to, after a risk assessment, "introduce control measures to eliminate or reduce" any potential risk-related consequences.
- Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
- Presentation: Presentation conveys information from a speaker to an audience. Presentations are typically demonstrations, introduction, lecture, or speech meant to inform, persuade, inspire, motivate, build goodwill, or present a new idea/product.
Related Jobs
Check more jobs information at Utica National Insurance Group
| Job Title | Average Utica National Insurance Group Salary | Hourly Rate | |
|---|---|---|---|
| 2 | Workers Comp Claims Specialist II | $81,574 | $39 |
| 3 | Accountant | $94,967 | $46 |
| 4 | Accountant I | $65,675 | $32 |
| 5 | Accountant II | $76,316 | $37 |
| 6 | Administrative Assistant | $56,224 | $27 |
| 7 | Assistant Vice President & Product Manager | $242,073 | $116 |
| 8 | Auto Claims Representative | $57,770 | $28 |
| 9 | Auto Damage Appraiser | $77,237 | $37 |
| 10 | Chief Underwriting Officer | $324,833 | $156 |
| 11 | Claims Adjuster | $74,776 | $36 |
| 12 | Commercial Lines Associate Underwriter | $99,606 | $48 |
| 13 | Computer Operator | $51,479 | $25 |
Hourly Pay at Utica National Insurance Group
FAQ about Salary and Jobs at Utica National Insurance Group
The average hourly pay is $59. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
According to the data, the highest approximate salary is about $138,909 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
According to the data, the lowest estimated salary is about $102,718 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.