Senior Risk Analyst

Company: Allianz
Location: Schiller Park
Posted on: February 3, 2026

Job Description:

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.

Keywords: Allianz, Tinley Park , Senior Risk Analyst, IT / Software / Systems , Schiller Park, Illinois