Risk Management Analyst

Ulta Beauty; Chicago (IL); On-site; USD 66,000 - 88,000; Full time

Job summary

Ulta Beauty is seeking a Risk Management Analyst in Bolingbrook, IL. This full-time role focuses on supporting workers’ compensation, general liability, and captive insurance programs by analyzing loss data and collaborating with internal teams and TPAs to reduce overall risk costs.

The position emphasizes translating complex claims data into actionable insights for leadership, aligning with retail operations, legal, and finance goals.

Qualifications

• 5+ years in risk analysis.
• Strong communication and presentation skills.
• Ability to work collaboratively and cross-functional in a fast-paced environment.
• Demonstrated ability to think critically and make decisions under uncertainty.

Responsibilities

• Analyze workers’ compensation and general liability data to identify loss drivers and trends across locations.
• Monitor claim severity, frequency and reserve adequacy; recommend corrective actions.
• Prepare loss summaries, dashboards, and executive-level reports for leadership.
• Support management of casualty insurance programs, including deductible and self-insured retention.
• Coordinate with brokers, underwriters and internal stakeholders to gather data and maintain policy records.
• Lead risk management budgeting, tracking and reporting to inform leadership decisions.
• Track cost of risk metrics and benchmark against peers and industry.
• Collaborate with actuarial, finance, and brokerage teams during renewals and forecasts.

Skills

Risk analysis

Strong communication

Presentation skills

Cross-functional collaboration

Critical thinking

Job description

Risk Management Analyst

Bolingbrook, Illinois

Human Resources

Full Time

523011

OVERVIEW

Authentic. Supportive. Fun. To experience human resources at Ulta Beauty is to step out of the mundane and into an environment alive with optimistic energy. After all, success breeds opportunity, and the opportunities to help drive an organization at the top of its game to even greater heights are as uncommon as they are satisfying.

It's fast, it's ambitious, it's anchored in trust. With the chance to move or flex based on new or existing interests and passions. If you want that rare culture of lived values, where "team" truly means something. Where the drive for excellence is balanced with a genuine desire to help and encourage. And where the mark you make will be seen and recognized—we challenge you to dream bigger. To imagine the possibilities.

THE IMPACT YOU CAN HAVE

The Risk Management Analyst supports the organization’s workers’ compensation, general liability, and Captive Insurance programs by analyzing loss data, monitoring claim performance, and collaborating with internal teams and third‑party administrators to reduce the total cost of risk. This role is crucial in translating complex claims and actuarial data into actionable insights for leadership, ensuring alignment with retail and distribution operations, legal strategy, and financial goals. Additionally, the Risk Management Analyst will assist with insurance procurement and administration, as well as risk management financial budgeting, tracking, and reporting to support effective decision‑making across the organization.

YOU'LL ACCOMPLISH THESE GOALS BY

• Analyze workers’ compensation and general liability claims data to identify loss drivers, trends, and emerging risks across retail and distribution locations.
• Monitor claim severity, frequency, litigated claim ratios, and reserve adequacy; elevate concerns and recommend corrective actions as necessary.
• Prepare loss summaries, dashboards, and executive‑level reports for risk, finance, legal, and operations leadership.
• Support the management of the casualty insurance program, including deductible, self‑insured retention, and captive structures.
• Support the procurement and administration of insurance policies by coordinating with brokers, underwriters, and internal stakeholders to gather necessary data, complete applications, and maintain accurate policy records.
• Lead risk management financial budgeting, tracking, and reporting, ensuring costs are accurately projected, monitored, and communicated to leadership for effective decision‑making.
• Track total cost of risk metrics, pure loss rates, and key performance indicators in comparison to retail peers and industry benchmarks.
• Partner with actuarial, finance, and brokerage teams during renewals, forecasts, and budget planning processes.
• Collaborate with in‑house claims team, third‑party administrators (TPAs), insurance carriers, and defense counsel to ensure timely reporting, effective claim handling, and adherence to best practices.
• Review TPA performance metrics, including three‑point contact, early investigation, litigation management, and closure rates.
• Support initiatives aimed at reducing attorney involvement through early intervention, mediation, and employee engagement strategies.
• Work closely with Legal, People Success, Safety/EHS, and Store Operations teams to improve incident timely reporting, claim outcomes, and return‑to‑work results.
• Assist in developing training materials and guidance for field leadership on incident reporting and claims awareness.
• Provide data‑driven insights to inform policy decisions, safety initiatives, and risk mitigation strategies.
• Ensure accurate documentation and data integrity across claims systems, insurance platforms, and internal reporting tools.
• Assist with audits, carrier data calls, and regulatory reporting as needed.

ADDITIONAL RESPONSIBILITIES:

• Identify the likelihood and impact of events that could cause financial or operational setbacks.
• Help define calculated risks that align with business objectives.
• Assist with adherence to regulatory and industry standards.
• Identify risk‑related inefficiencies and areas for improvement.
• Promote awareness and accountability across the organization.
• Create and modify procedures and documents related to risk processes.
• Develop partnerships with the claims management team.
• Track and report on target budgets.
• Provide direct information to claimants as needed.
• Manage insurance data for reporting purposes.
• Generate statistical data and construct probability tables to forecast risk and liability for payment of future claims.

THE ESSENTIALS FOR SUCCESS

• 5 - 7+ years in risk analysis
• Experience with retail corporation(s) preferred
• Demonstrated ability to think critically and make decisions under uncertainty
• Strong communication and presentation skills
• Ability to work collaboratively and cross‑functional in a fast‑paced environment

The pay range for this position is $66,200.00 - $88,000.00 / Year with the opportunity for eligible associates to earn additional compensation pursuant to the Company's bonus plan. Exact pay will be based on factors including, but not limited to relevant education, qualifications, certifications, experience, level, shift, geographic location, and business and organizational needs.

Full‑time positions are eligible for paid time off, health, dental, vision, life and disability benefits. Part‑time positions are eligible for dental, vision, life, and disability benefits. For additional information concerning our benefits, visit our Benefits and Career Development page: https://learn.bswift.com/ulta