Risk Management Specialist Salary in Indianapolis, IN

How much does a Risk Management Specialist make in Indianapolis, IN?

As of April 01, 2025, the average annual salary for a Risk Management Specialist in Indianapolis, IN is $127,478. Salary.com reports that pay typically ranges from $115,696 to $140,547, with most professionals earning between $104,970 and $152,445.

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Salary range for a Risk Management Specialist

$115,696 to $140,547

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Risk Management Specialist

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Job Openings for Risk Management Specialist in Indianapolis, IN

What does a Risk Management Specialist do?

Common responsibilities of a Risk Management Specialist

Demonstrate the ability to identify changes to Credit Union processes, procedures, or regulatory requirements that will impact the duties of the department and proactively recommend updates to departmental processes and procedures to adapt to Credit Union changes in a timely manner.

November 08, 2022

Assists in the maintenance, integrity and data quality of the franchisee insurance certificate tracking program, including database management, as well as communication with franchisees, Area Directors and other internal stakeholders relative to insurance compliance.

March 09, 2023

Assist with the validation of financial and compliance models utilized by the Credit Union based on regulatory guidelines, which may include assessing model documentation, model objectives and use, model data, outcome analysis, ongoing monitoring, governance, and backtesting.

March 29, 2023

Provides recommendations for improvements to the business continuity/disaster recovery program and works with business units to implement approved changes to the business continuity/disaster recovery program process.

April 21, 2023

Participates in the identification, selection, & coordination of the use of TPA's and consultants for property damage claims, subrogation, workers compensation & general liability claims adjudication.

April 30, 2023

Review and challenge of Banking business liquidity, interest rate and capital risk exposures through both ad-hoc and routine engagement within Risk, CFO and the LOB teams (including Risk Identification, State of Risk Reviews, and resulting SIAI/RIAI administration).

May 07, 2023

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Risk Management Specialist Salary By Experience Levels in Indianapolis, IN

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Risk Management Specialist Salary By Level of Education in Indianapolis, IN

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Risk Management Specialist in Indianapolis, IN

Average Base Salary

Core compensation

115696

140547

127478

Average Total Cash Compensation

Includes base and annual incentives

122871

154547

138153

What is the average salary for Risk Management Specialist in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Risk Management Specialist in Indianapolis, IN. The base salary for Risk Management Specialist ranges from $115,696 to $140,547 with the average base salary of $127,478. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $122,871 to $154,547 with the average total cash compensation of $138,153.

View Average Salary for Risk Management Specialist as table

	Average Salary	Average Salary Range
Base Salary	$127,478	$115,696 - $140,547
Bonus	$10,675	$7,174 - $14,000
Total Pay	$138,153	$122,871 - $154,547

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Risk Management Specialist Salary Near Indianapolis, IN

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Indianapolis, IN
CITY, STATE Fishers, IN	AVERAGE SALARY RANGE $109,870 - $133,469	COMPARE TO Indianapolis, IN
CITY, STATE Greenwood, IN	AVERAGE SALARY RANGE $115,649 - $140,489	COMPARE TO Indianapolis, IN
CITY, STATE Carmel, IN	AVERAGE SALARY RANGE $115,554 - $140,373	COMPARE TO Indianapolis, IN
CITY, STATE Anderson, IN	AVERAGE SALARY RANGE $110,108 - $133,758	COMPARE TO Indianapolis, IN
CITY, STATE Bloomington, IN	AVERAGE SALARY RANGE $109,525 - $133,050	COMPARE TO Indianapolis, IN
CITY, STATE Muncie, IN	AVERAGE SALARY RANGE $109,680 - $133,238	COMPARE TO Indianapolis, IN

See salaries for Risk Management Specialist in locations close to Indianapolis, IN. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Indianapolis, Indiana

Indianapolis is in the East North Central region of the Midwestern United States, in central Indiana. According to the U.S. Census Bureau, the Indianapolis (balance) encompasses a total area of 368.2 square miles (954 km2), of which 361.5 square miles (936 km2) is land and 6.7 square miles (17 km2) is water. The consolidated city boundaries are coterminous with Marion County, with the exception of the autonomous municipalities of Beech Grove, Lawrence, Southport, and Speedway. Indianapolis is the 16th largest city by land area in the U.S. Indianapolis is within the Tipton Till Plain, a flat to...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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The Risk Management Specialist job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Indianapolis, IN that might be a good fit for the type of job and salary you are looking for.

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115696

140547

About Indianapolis, Indiana Indianapolis is in the East North Central region of the Midwestern United States, in central Indiana. According to the U.S. Census Bureau, the Indiana....More

Indianapolis, Indiana area prices were up 1.3% from a year ago

Risk Management Specialist Salary in popular cities: Fort Wayne, Evansville, South Bend

Recently searched related titles: Risk Management Advisor, Healthcare Risk Management Specialist

Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role