How much does an Insurance Risk Manager make in North Granby, CT? The average Insurance Risk Manager salary in North Granby, CT is $144,547 as of September 01, 2024, but the range typically falls between $124,482 and $169,092. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Percentile | Salary | Location | Last Updated |
10th Percentile Insurance Risk Manager Salary | $106,214 | North Granby,CT | September 01, 2024 |
25th Percentile Insurance Risk Manager Salary | $124,482 | North Granby,CT | September 01, 2024 |
50th Percentile Insurance Risk Manager Salary | $144,547 | North Granby,CT | September 01, 2024 |
75th Percentile Insurance Risk Manager Salary | $169,092 | North Granby,CT | September 01, 2024 |
90th Percentile Insurance Risk Manager Salary | $191,438 | North Granby,CT | September 01, 2024 |
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.
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.
Diversity and Inclusion: Developing and promoting acquaintance, empowerment, and integration of each unique individual to create a productive and safe working environment.
Skill | Salary | Demand |
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Analysis
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$153,220 |
6%
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PowerPoint
|
$150,329 |
4%
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Leadership
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$148,883 |
3%
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Initiative
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$148,883 |
3%
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Presentation
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$147,438 |
2%
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Problem Solving
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$147,438 |
2%
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What Should I Pay?
Insurance Risk Manager manages the analysis of insurance needs of an organization to provide optimum coverage, costs, and claim settlements. Collects, classifies, and analyzes data from multiple sources such as audits, claims, renewals, and financial reporting. Being an Insurance Risk Manager identifies and classifies risk exposures to provide optimum coverage, costs, and claim settlements. Conducts regular policy reviews and research. Additionally, Insurance Risk Manager implements processes that identify risk exposure and classify, measure, and manage insurable risks. Compiles loss trends and reviews actuarial estimations to make recommendations. Administers systems to collect data and generate meaningful models and reporting to support decisions. Prepares policy renewals and applications. May administer self-insured plans. Requires a bachelor's degree. Typically reports to a director. The Insurance Risk Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be an Insurance Risk Manager typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)... View full job description
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A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Insurance Risk Manager, the first career path typically progresses to E-commerce Risk Director.
The second career path typically starts with an Insurance Risk Senior Manager position, and then progresses to Insurance Risk Director.
Additionally, the third career path typically starts with a Senior Risk Manager position, and then progresses to Risk Management Director.
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Insurance Risk Manager salary varies from city to city. Compared with national average salary of Insurance Risk Manager, the highest Insurance Risk Manager salary is in San Francisco, CA, where the Insurance Risk Manager salary is 25.0% above. The lowest Insurance Risk Manager salary is in Miami, FL, where the Insurance Risk Manager salary is 3.5% lower than national average salary.
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Job Title | Experience | EDUCATION | Salary Compared to This Job |
---|---|---|---|
Job Title Insurance Risk Analyst I | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst III | Experience 4 - 7 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst IV | Experience 7 + | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst V | Experience 10 + | EducationBachelors | Salary Compared to This Job |
Jobs with different levels of education may pay very differently. Check the Insurance Risk Manager salary of your education level.
Insurance Risk Manager salary varies from country to country. There are several factors that mainly impact the Insurance Risk Manager salary, including cost of living, economic conditions, market rates and legal differences. Click below to Insurance Risk Manager salary of the other country.
A job category is a classification or grouping of job positions that share similar characteristics, functions, or industries. Insurance Risk Manager salary varies from category to category. Click below to see Insurance Risk Manager salary in different categories.
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About North Granby, Connecticut North Granby is a village and census-designated place (CDP) in Hartford County, Connecticut, United States. It is part of the town of Granby. The popu....More
North Granby, Connecticut area prices were up 1.6% from a year ago View the Cost of Living in North Granby, Connecticut
Insurance Risk Manager Salary in popular cities: Bridgeport, New Haven, Hartford
Skills associated with Insurance Risk Manager: Risk Assessment, Safety Policies and Procedures, Financial Risk Management Software, Data Analytics ...More
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Salary estimation for Insurance Risk Manager at companies like : Elites Network LLC, Georgia Dept of Education, Royalenfield