Director Of Risk Management Jobs in Virginia
Director Of Risk Management jobs in Virginia are active and competitive, with strong demand concentrated in financial services, defense contracting, healthcare, and government sectors at every level from senior risk analyst to enterprise-wide executive. Northern Virginia, Richmond, and Virginia Beach anchor the bulk of hiring, with major employers such as Booz Allen Hamilton, Capital One, and Inova Health System consistently seeking risk leadership. The most in-demand specialties include enterprise risk, operational risk, and regulatory compliance. Find a role that fits below and apply directly.
Find JobsOverview
Showing 5 of 71+ Director Of Risk Management jobs
CarMax, the way your career should be!
Team Overview
The Risk Manager plays a pivotal role in the development, strategy, and execution of CarMax’s risk and insurance program. The Risk Manager is responsible for the Company’s insurance programs which support over 250 retail locations and approximately 30,000 associates.
The Risk Manager oversees CarMax’s Workers’ Compensation (WC) program and leads the team responsible for handling WC claims. The Risk Manager ensures the WC program focuses on the safety of associates while complying with regulatory requirements and minimizing financial risk to the Company.
Why CarMax?
At CarMax, we are the nation’s largest retailer of used cars with stores from coast to coast, and we are still growing. We’re rethinking the way people buy cars – and it’s our associates that help us do just that. We believe work should feel meaningful and rewarding, with opportunities to make an impact every day. This is where innovation meets passion – be inspired and supported to take us to the future.
Role Responsibilities
- With a high degree of independence, responsible for identifying, evaluating, and managing risks inherent across CarMax’s operations and to ultimately reduce Company exposure and financial risk
- Leads the overall strategy of all commercial insurance programs including, Auto Liability, General Liability, Workers’ Compensation/Employers’ Liability, Property, Executive Risk, Aviation, Storage Tanks, Business Travel Accident, and Motor Cargo
- Partners across diverse teams to create comprehensive underwriting submissions and drives insurance renewals and negotiations, including executive presentations to appropriately represent the Company to insurers
- Proactively analyzes program effectiveness to ensure insurance structures are aligned with Company’s exposures and risk tolerance levels
- Leads Workers’ Compensation strategy and overall program (including certain state-specific programs) to ensure injured associates are appropriately supported and claims are resolved effectively
- Manages WC associates; actively partners with associates to drive performance and career development
- Direct management and oversight of CarMax’s Bermuda-based captive insurance company; responsible for overall strategy, monthly analytics and reporting, local regulatory compliance, audits, premium determination, payments, and general administration
- Cultivates and maintains relationships with CarMax’s captive service providers, including actuaries, auditors, claims administrators, brokers, insurer(s), and legal counsel; plays an advisory role on the captive Board of Directors
- Proactively directs strategy and claim / settlement authority for litigated and/or complex Auto/GL/WC claims in conjunction with legal counsel and insurance carrier; matters include overall strategy, discovery requests, mediations, hearings, settlements, and trials
- For all claim types, provides corporate direction to drive successful resolution (reduced costs/exposures) via partnerships with insurance providers, third party claim administrators, and legal counsel
- Prepares annual budget and presents budget to Executive Leadership; provides updated forecasts throughout year
- Provides insurance updates for the Board of Directors / Audit Committee on a semi-annual basis
- Successfully executes relevant key SOX controls, reviews process documentation, and provides support for internal and external auditors
- Supports more than 250 store locations, including certificates of insurance, auto insurance cards, compliance items, claims inquiries, and general guidance
- Manages company surety bond program
- Collaborates across the organization to understand risk management needs and strategic initiatives; serves as subject matter expert to educate and advise business partners on effective risk management strategies
- Serves as subject matter expert in reviewing contracts across the company to evaluate liability exposure and advise on insurance provisions to protect the Company
Required Qualifications
- 8+ years experience in risk management or related discipline for a large company with multiple lines of insurance
- Four-year college degree
- Strong fluency in insurance markets, products, and terminology
- Strong operational knowledge Microsoft Office (Excel, Word, PowerPoint, Outlook)
- Ability to motivate and influence across multiple levels of the organization, and willing to challenge upwards appropriately in the best interest of CarMax
- Ability to build and maintain strong relationships throughout the organization, and collaborate with other departments and teams
- Ability to influence and negotiate successfully with advisors & outside providers
- Ability to manage multiple projects; prioritize and lead team to achieve long-term and short-term results
- Ability to drive informed decisions via strong analytical and strategic mindset
This role will be based out of the CarMax Home Office (Richmond, VA) and associates will work onsite 4 days per week.
About CarMax
At CarMax, we revolutionized the used car buying experience over 30 years ago by introducing transparency and integrity into the process. Our commitment to customer experience, innovation, and community has made us the nation’s largest used car retailer. With over 250 store locations and over 30,000 associates, we are proud to have been recognized as one of the Fortune 100 Best Companies to Work For® and are committed to helping our communities thrive.
As an associate, you are part of an innovative movement to empower the modern customer and drive progress. Your work fuels change—sparking ideas, overcoming challenges, and shaping what’s next. Join us in creating a better future– for our company, our customers, and the communities we call home.
CarMax is an equal opportunity employer, and all qualified candidates will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, protected veteran status, disability status, or any other characteristic protected by law.
The annual salary for this position is:
$111,700.00 - $178,700.00
May be eligible for bonus and equity.
Benefits:
Except as otherwise required by state law, CarMax Associates are entitled to the following paid sick, vacation, and holiday time.
Associates considered full-time salaried are entitled to paid time away with no specified limit as needed for sick, vacation, bereavement, jury duty, holidays, floating holiday, etc. subject to manager approval.
For more details about benefits, please visit our CarMax Benefits website.
Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.
The annual salary for this position is:
$111,700.00 - $178,700.00May be eligible for bonus and equity.
Benefits:
Except as otherwise required by state law, CarMax Associates are entitled to the following paid sick, vacation, and holiday time.
Associates that are considered full-time hourly or commission/incentive eligible:
- To earn up to 48 hours of sick time per year accrued on a per pay period basis and between 80 hours and 200 hours per year of vacation time after a 90 day waiting period depending on years of continuous service with the Company.
- For 8 hours of pay for each of a total of 6 paid scheduled holidays per year plus 1 floating holiday. If such an Associate does work on a scheduled holiday due to business need, they are eligible for Holiday Premium Pay.
Associates considered full-time salaried are entitled to paid time away with no specified limit as needed for sick, vacation, bereavement, jury duty, holidays, floating holiday, etc. subject to manager approval.
For more details about benefits, please visit our CarMax Benefits website.
Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.
CarMax, the way your career should be!
Team Overview
The Risk Manager plays a pivotal role in the development, strategy, and execution of CarMax’s risk and insurance program. The Risk Manager is responsible for the Company’s insurance programs which support over 250 retail locations and approximately 30,000 associates.
The Risk Manager oversees CarMax’s Workers’ Compensation (WC) program and leads the team responsible for handling WC claims. The Risk Manager ensures the WC program focuses on the safety of associates while complying with regulatory requirements and minimizing financial risk to the Company.
Why CarMax?
At CarMax, we are the nation’s largest retailer of used cars with stores from coast to coast, and we are still growing. We’re rethinking the way people buy cars – and it’s our associates that help us do just that. We believe work should feel meaningful and rewarding, with opportunities to make an impact every day. This is where innovation meets passion – be inspired and supported to take us to the future.
Role Responsibilities
- With a high degree of independence, responsible for identifying, evaluating, and managing risks inherent across CarMax’s operations and to ultimately reduce Company exposure and financial risk
- Leads the overall strategy of all commercial insurance programs including, Auto Liability, General Liability, Workers’ Compensation/Employers’ Liability, Property, Executive Risk, Aviation, Storage Tanks, Business Travel Accident, and Motor Cargo
- Partners across diverse teams to create comprehensive underwriting submissions and drives insurance renewals and negotiations, including executive presentations to appropriately represent the Company to insurers
- Proactively analyzes program effectiveness to ensure insurance structures are aligned with Company’s exposures and risk tolerance levels
- Leads Workers’ Compensation strategy and overall program (including certain state-specific programs) to ensure injured associates are appropriately supported and claims are resolved effectively
- Manages WC associates; actively partners with associates to drive performance and career development
- Direct management and oversight of CarMax’s Bermuda-based captive insurance company; responsible for overall strategy, monthly analytics and reporting, local regulatory compliance, audits, premium determination, payments, and general administration
- Cultivates and maintains relationships with CarMax’s captive service providers, including actuaries, auditors, claims administrators, brokers, insurer(s), and legal counsel; plays an advisory role on the captive Board of Directors
- Proactively directs strategy and claim / settlement authority for litigated and/or complex Auto/GL/WC claims in conjunction with legal counsel and insurance carrier; matters include overall strategy, discovery requests, mediations, hearings, settlements, and trials
- For all claim types, provides corporate direction to drive successful resolution (reduced costs/exposures) via partnerships with insurance providers, third party claim administrators, and legal counsel
- Prepares annual budget and presents budget to Executive Leadership; provides updated forecasts throughout year
- Provides insurance updates for the Board of Directors / Audit Committee on a semi-annual basis
- Successfully executes relevant key SOX controls, reviews process documentation, and provides support for internal and external auditors
- Supports more than 250 store locations, including certificates of insurance, auto insurance cards, compliance items, claims inquiries, and general guidance
- Manages company surety bond program
- Collaborates across the organization to understand risk management needs and strategic initiatives; serves as subject matter expert to educate and advise business partners on effective risk management strategies
- Serves as subject matter expert in reviewing contracts across the company to evaluate liability exposure and advise on insurance provisions to protect the Company
Required Qualifications
- 8+ years experience in risk management or related discipline for a large company with multiple lines of insurance
- Four-year college degree
- Strong fluency in insurance markets, products, and terminology
- Strong operational knowledge Microsoft Office (Excel, Word, PowerPoint, Outlook)
- Ability to motivate and influence across multiple levels of the organization, and willing to challenge upwards appropriately in the best interest of CarMax
- Ability to build and maintain strong relationships throughout the organization, and collaborate with other departments and teams
- Ability to influence and negotiate successfully with advisors & outside providers
- Ability to manage multiple projects; prioritize and lead team to achieve long-term and short-term results
- Ability to drive informed decisions via strong analytical and strategic mindset
This role will be based out of the CarMax Home Office (Richmond, VA) and associates will work onsite 4 days per week.
About CarMax
At CarMax, we revolutionized the used car buying experience over 30 years ago by introducing transparency and integrity into the process. Our commitment to customer experience, innovation, and community has made us the nation’s largest used car retailer. With over 250 store locations and over 30,000 associates, we are proud to have been recognized as one of the Fortune 100 Best Companies to Work For® and are committed to helping our communities thrive.
As an associate, you are part of an innovative movement to empower the modern customer and drive progress. Your work fuels change—sparking ideas, overcoming challenges, and shaping what’s next. Join us in creating a better future– for our company, our customers, and the communities we call home.
CarMax is an equal opportunity employer, and all qualified candidates will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, genetic information, national origin, protected veteran status, disability status, or any other characteristic protected by law.
The annual salary for this position is:
$111,700.00 - $178,700.00
May be eligible for bonus and equity.
Benefits:
Except as otherwise required by state law, CarMax Associates are entitled to the following paid sick, vacation, and holiday time.
Associates considered full-time salaried are entitled to paid time away with no specified limit as needed for sick, vacation, bereavement, jury duty, holidays, floating holiday, etc. subject to manager approval.
For more details about benefits, please visit our CarMax Benefits website.
Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.
The annual salary for this position is:
$111,700.00 - $178,700.00May be eligible for bonus and equity.
Benefits:
Except as otherwise required by state law, CarMax Associates are entitled to the following paid sick, vacation, and holiday time.
Associates that are considered full-time hourly or commission/incentive eligible:
- To earn up to 48 hours of sick time per year accrued on a per pay period basis and between 80 hours and 200 hours per year of vacation time after a 90 day waiting period depending on years of continuous service with the Company.
- For 8 hours of pay for each of a total of 6 paid scheduled holidays per year plus 1 floating holiday. If such an Associate does work on a scheduled holiday due to business need, they are eligible for Holiday Premium Pay.
Associates considered full-time salaried are entitled to paid time away with no specified limit as needed for sick, vacation, bereavement, jury duty, holidays, floating holiday, etc. subject to manager approval.
For more details about benefits, please visit our CarMax Benefits website.
Upon an applicant's request, CarMax will consider reasonable accommodation to complete the CarMax Job Application.
See All 71 Director Of Risk Management Jobs in Virginia
Find roles in Virginia that match your experience and apply in just a few clicks.
Find JobsDirector Of Risk Management Jobs by City in Virginia
Where Virginia roles are concentrated, by current openings.
Director Of Risk Management Job Market in Virginia
A snapshot from current Virginia openings, updated as new roles post.
Who's Hiring
- Capital One27
- Information Technology Senior Management Forum11
- Freddie Mac5
- Deloitte3
- CarMax2
Top Industries Hiring
- Banking & Financial Services
- Technology & Software
- Consulting & Professional Services
What Virginia Employers Look For
The qualifications that appear most often in director of risk management jobs across Virginia.
- Bachelor's or master's degree in finance, business administration, or a related field
- Professional certification such as CRM, FRM, or PRM preferred by Virginia employers
- Seven or more years of progressive risk management experience in a regulated industry
- Deep knowledge of Virginia regulatory frameworks in financial services or healthcare
- Proven ability to lead enterprise risk programs and present findings to executive leadership
- Experience with ERM platforms and risk quantification tools used across Virginia industries
Director Of Risk Management Jobs in Virginia: Frequently Asked Questions
How do you become a director of risk management in Virginia?
Most director of risk management roles in Virginia require a bachelor's degree in finance, business, or a related field, with a master's degree increasingly expected at larger employers. No Virginia state license is required for the role itself, but professional certifications such as the Certified Risk Manager designation or the Financial Risk Manager credential carry significant weight with Virginia hiring managers, particularly in financial services and defense contracting sectors. Building experience in risk analysis, compliance, or audit roles first is the standard path.
How much do director of risk managements make in Virginia?
Director of risk managements in Virginia earn a median of about $126,510 a year, based on May 2025 Bureau of Labor Statistics wage data, ranging from around $77,080 for the lowest 10% to over $191,720 for the top 10%. Pay rises with experience, specialty, and employer.
Which companies hire director of risk managements in Virginia?
Employers hiring director of risk managements in Virginia right now include Capital One, Information Technology Senior Management Forum, and Freddie Mac, based on current listings on Migrate Mate as of September 2026. Virginia's concentration of federal contractors, major financial institutions, and large health systems means risk leadership demand remains broad and relatively stable across multiple industries.
Which Virginia cities have the most director of risk management jobs?
McLean, Richmond, and Springfield have the most director of risk management openings in Virginia. Northern Virginia dominates due to its dense cluster of federal agencies, defense contractors, and financial services firms, while Richmond draws significant demand from banking, insurance, and healthcare headquarters, and Virginia Beach reflects risk leadership needs tied to military installations and regional healthcare networks.
Are there remote director of risk management jobs in Virginia?
Yes, and more than many senior leadership roles, since risk management work is largely analytical and policy-driven rather than hands-on. About 38% of director of risk management openings tied to Virginia are remote or hybrid as of September 2026, reflecting the role's compatibility with distributed work environments. Enterprise risk strategy, regulatory reporting, and framework development are the functions most commonly offered with remote or hybrid flexibility.
How can I get hired as a director of risk management in Virginia with little or no experience?
The most realistic entry path is moving into risk through an adjacent role such as internal audit, compliance analyst, or financial analyst, then building toward risk leadership over time. Virginia's large employers in financial services and defense contracting, including firms headquartered in the Northern Virginia corridor, regularly hire analysts into rotational programs that include risk exposure. Earning the Certified Risk Manager or a similar credential early signals commitment and accelerates advancement. Targeting risk analyst or risk associate openings at Virginia's major banks, health systems, or government contractors is the clearest starting point.
Where can I find and apply to director of risk management jobs in Virginia?
You can find and apply to director of risk management jobs in Virginia on Migrate Mate, which lists current Virginia openings across industries and experience levels. Find roles that fit your background and apply directly to the ones that match.
See All 71 Director Of Risk Management Jobs in Virginia
Find roles in Virginia that match your experience and apply in just a few clicks.
Find Jobs