Risk Analyst Jobs in Maryland
Risk Analyst jobs in Maryland are concentrated in financial services, federal contracting, cybersecurity, and healthcare, with demand for professionals who can translate data into defensible decisions at every level from analyst to senior director. Baltimore and the Washington D.C. suburbs, particularly Bethesda, Rockville, and Annapolis, account for the bulk of openings, with anchor employers including T. Rowe Price, CareFirst BlueCross BlueShield, and Leidos driving consistent hiring. The most sought-after specialties are enterprise risk, operational risk, and credit risk, particularly in organizations navigating regulatory and government compliance requirements. Find a role that fits below and apply directly.
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Showing 5 of 9+ Risk Analyst jobs
Resp & Qualifications
PURPOSE:
The purpose of a Sr. Data Analyst is to support ACA risk adjustment processes, including EDGE server analysis and submission validation. Ensure accuracy and integrity of risk adjustment performance metrics through proactive analysis and validation of data sources including claims, enrollment, provider, and EDGE submissions. Analyze and interpret CMS and HHS risk adjustment methodologies to support risk score calculation and financial performance insights.
ESSENTIAL FUNCTIONS:
- Engages in data exploration using various programming languages (reading and writing code), requiring advanced knowledge of multiple database structures. Understand CMS risk score methodology, including risk score calculation, financial risk receivable calculations, EDGE processes and key regulatory deadlines for data submission. Understand the impact of the HCCs on the risk adjustment revenue including interpretation of CMS guidelines, monitoring and determining the impact of any changes to the HCC model and supporting actuarial in the calculation risk adjustment revenue.
- Collect, analyze, and interpret data to glean insights, and develop business appropriate recommendations.
- Assists in designing an overall suite of analytic capabilities and actionable reports to solve problems, provide data-driven guidance, and monitor risk adjustment performance. Provide analytical support on various strategies to ensure organizational goals are met and propose opportunities in maximizing reimbursement based on the CMS-HCC (Hierarchical Condition Code) model. Perform data mining of claims and data to identify trends, data issues and members with missing HCCs.
- Research and analyze data flow across complex data ecosystem including operational and analytical data platforms.
- Serve as an expert resource supporting data questions and issues from stakeholders and driving to resolution. Collaborate across business units to coordinate the development of financial dashboards and models to identify and track revenue and ROI trends. Work with team members to understand and monitor the financial impact of risk adjustment programs. Contribute to developing materials and presenting key updates to leadership regarding risk adjustment programs and provider and member engagement initiatives.
- Lead in the design, development, validation and delivery of data to provide insight into business decisions. Conduct analyses to develop a comprehensive understanding of a providers risk score trends, EMR systems and contracting arrangements to recommend and generate provider-specific engagement plans. Oversee the analysis and interpretation of provider-specific results and risk score trend information. Develop dashboard reporting and a regular schedule for delivering results of analyses to improve awareness and understanding of risk adjustment results and quality, accuracy and identification of member health conditions. Update, create and maintain business process and technical workflow documents.
- Manage the collection of business and technical requirements from Stakeholders to deliver data driven solutions. Produces technical documentation that is consistent with professional standards.
- Be a resource and mentor to junior level staff.
SUPERVISORY RESPONSIBILITY:
Position does not have direct reports but is expected to assist in guiding and mentoring less experienced staff. May lead a team of matrixed resources.
QUALIFICATIONS:
Education Level: Bachelor's Degree in Data Science, Mathematics, Computer Science, Statistics, Business or related field OR in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.
Experience: 5 years' experience in an analytical/quantitative role.
Preferred Qualifications:
- Experience in Healthcare Industry.
- Hands on experience with Big Data/NoSQL Platforms with experience delivering production projects at scale.
- Experience with SAS, SQL, Python or other programming language.
- Experience with ACA HHS risk score methodology, including risk score calculation and financial risk receivable calculations.
- Experience with EDGE Submission Error Analyses and reporting.
Knowledge, Skills and Abilities (KSAs)
- Quantitative, analytical and problem-solving skills.
- Knowledge and understanding of analytical tools, languages, applications, platforms.
- Excellent communication skills both written and verbal.
- Ability to learn quickly and take direction.
- Must be able to meet established deadlines and handle multiple customer service demands from internal and external customers, within set expectations for service excellence. Must be able to effectively communicate and provide positive customer service to every internal and external customer, including customers who may be demanding or otherwise challenging.
Salary Range: $87,264 - $173,316
Salary Range Disclaimer
The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate's work experience, education/training, internal peer equity, and market and business consideration. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case's facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
PHYSICAL DEMANDS:
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship
#LI-NH2
Resp & Qualifications
PURPOSE:
The purpose of a Sr. Data Analyst is to support ACA risk adjustment processes, including EDGE server analysis and submission validation. Ensure accuracy and integrity of risk adjustment performance metrics through proactive analysis and validation of data sources including claims, enrollment, provider, and EDGE submissions. Analyze and interpret CMS and HHS risk adjustment methodologies to support risk score calculation and financial performance insights.
ESSENTIAL FUNCTIONS:
- Engages in data exploration using various programming languages (reading and writing code), requiring advanced knowledge of multiple database structures. Understand CMS risk score methodology, including risk score calculation, financial risk receivable calculations, EDGE processes and key regulatory deadlines for data submission. Understand the impact of the HCCs on the risk adjustment revenue including interpretation of CMS guidelines, monitoring and determining the impact of any changes to the HCC model and supporting actuarial in the calculation risk adjustment revenue.
- Collect, analyze, and interpret data to glean insights, and develop business appropriate recommendations.
- Assists in designing an overall suite of analytic capabilities and actionable reports to solve problems, provide data-driven guidance, and monitor risk adjustment performance. Provide analytical support on various strategies to ensure organizational goals are met and propose opportunities in maximizing reimbursement based on the CMS-HCC (Hierarchical Condition Code) model. Perform data mining of claims and data to identify trends, data issues and members with missing HCCs.
- Research and analyze data flow across complex data ecosystem including operational and analytical data platforms.
- Serve as an expert resource supporting data questions and issues from stakeholders and driving to resolution. Collaborate across business units to coordinate the development of financial dashboards and models to identify and track revenue and ROI trends. Work with team members to understand and monitor the financial impact of risk adjustment programs. Contribute to developing materials and presenting key updates to leadership regarding risk adjustment programs and provider and member engagement initiatives.
- Lead in the design, development, validation and delivery of data to provide insight into business decisions. Conduct analyses to develop a comprehensive understanding of a providers risk score trends, EMR systems and contracting arrangements to recommend and generate provider-specific engagement plans. Oversee the analysis and interpretation of provider-specific results and risk score trend information. Develop dashboard reporting and a regular schedule for delivering results of analyses to improve awareness and understanding of risk adjustment results and quality, accuracy and identification of member health conditions. Update, create and maintain business process and technical workflow documents.
- Manage the collection of business and technical requirements from Stakeholders to deliver data driven solutions. Produces technical documentation that is consistent with professional standards.
- Be a resource and mentor to junior level staff.
SUPERVISORY RESPONSIBILITY:
Position does not have direct reports but is expected to assist in guiding and mentoring less experienced staff. May lead a team of matrixed resources.
QUALIFICATIONS:
Education Level: Bachelor's Degree in Data Science, Mathematics, Computer Science, Statistics, Business or related field OR in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.
Experience: 5 years' experience in an analytical/quantitative role.
Preferred Qualifications:
- Experience in Healthcare Industry.
- Hands on experience with Big Data/NoSQL Platforms with experience delivering production projects at scale.
- Experience with SAS, SQL, Python or other programming language.
- Experience with ACA HHS risk score methodology, including risk score calculation and financial risk receivable calculations.
- Experience with EDGE Submission Error Analyses and reporting.
Knowledge, Skills and Abilities (KSAs)
- Quantitative, analytical and problem-solving skills.
- Knowledge and understanding of analytical tools, languages, applications, platforms.
- Excellent communication skills both written and verbal.
- Ability to learn quickly and take direction.
- Must be able to meet established deadlines and handle multiple customer service demands from internal and external customers, within set expectations for service excellence. Must be able to effectively communicate and provide positive customer service to every internal and external customer, including customers who may be demanding or otherwise challenging.
Salary Range: $87,264 - $173,316
Salary Range Disclaimer
The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate's work experience, education/training, internal peer equity, and market and business consideration. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case's facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
PHYSICAL DEMANDS:
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship
#LI-NH2
See All 9 Risk Analyst Jobs in Maryland
Find roles in Maryland that match your experience and apply in just a few clicks.
Find Risk Analyst JobsRisk Analyst Jobs by City in Maryland
Where Maryland roles are concentrated, by current openings.
Risk Analyst Job Market in Maryland
A snapshot from current Maryland openings, updated as new roles post.
Who's Hiring
- MANTECH1
- Crisis241
- M&T Bank1
- Guidehouse1
- United Therapeutics1
Top Industries Hiring
- Energy1
- Consulting & Professional Services1
What Maryland Employers Look For
The qualifications that appear most often in risk analyst jobs across Maryland.
- Bachelor's degree in finance, economics, statistics, or a related quantitative field
- Professional certification such as FRM, CFA, or PRM preferred or required
- Two or more years of experience in financial, operational, or enterprise risk analysis
- Proficiency with risk modeling tools, SQL, Python, or statistical software like SAS or R
- Familiarity with regulatory frameworks relevant to Maryland industries, including federal contractor compliance or HIPAA
- Strong written and verbal communication skills for presenting risk findings to leadership and stakeholders
Risk Analyst Jobs in Maryland: Frequently Asked Questions
How do you become a risk analyst in Maryland?
Most risk analyst roles in Maryland require a bachelor's degree in finance, economics, statistics, or a quantitative discipline. No state-issued license is required to work in the role, but employers in Maryland's financial services and government contracting sectors strongly favor candidates who hold or are pursuing a professional designation such as the Financial Risk Manager credential from the Global Association of Risk Professionals or the Chartered Financial Analyst designation. Maryland's large federal contracting community may also expect familiarity with risk frameworks used in government work.
How much do risk analysts make in Maryland?
Risk analysts in Maryland earn a median of about $117,130 a year, based on May 2025 Bureau of Labor Statistics wage data, ranging from around $73,330 for the lowest 10% to over $172,410 for the top 10%. Pay rises with experience, specialty, and employer.
Which companies hire risk analysts in Maryland?
Companies currently hiring risk analysts in Maryland include MANTECH, Crisis24, and M&T Bank, per current listings on Migrate Mate as of July 2026. Maryland's mix of large financial institutions, health insurers, and federal contractors means openings appear across several distinct industry sectors, so filtering by industry can help you find listings that match your background.
Which Maryland cities have the most risk analyst jobs?
Baltimore, Hanover, and Annapolis have the most risk analyst openings in Maryland. Baltimore's concentration of financial institutions and health systems drives the largest share of demand, while the D.C. suburban corridor through Bethesda, Rockville, and Annapolis supports a strong pipeline of federal contracting and government-facing roles, which explains why smaller suburban cities appear alongside Baltimore in the distribution.
Are there remote risk analyst jobs in Maryland?
Yes, and more than most fields. Risk analysis is largely desk-based and data-driven, making it well suited to remote and hybrid arrangements. About 83% of risk analyst openings tied to Maryland are remote or hybrid as of July 2026, with the strongest remote availability in enterprise and operational risk roles that rely on modeling, reporting, and documentation rather than on-site process audits.
How can I get hired as a risk analyst in Maryland with little or no experience?
The most realistic entry path is a junior or associate risk analyst role within a Maryland financial institution or federal contractor, where structured analyst programs are common. T. Rowe Price and CareFirst both run new-graduate and rotational programs that include risk functions. Candidates coming from adjacent roles like financial analyst, compliance analyst, or data analyst can make a strong case by highlighting quantitative coursework or project work. Earning the FRM Part 1 exam or an Excel or SQL certification before applying gives candidates a measurable edge in Maryland's competitive market.
Where can I find and apply to risk analyst jobs in Maryland?
You can find and apply to risk analyst jobs in Maryland on Migrate Mate, which lists current Maryland openings across financial services, healthcare, and federal contracting sectors. Find the roles that fit your experience and specialization and apply directly to the ones that match.
See All 9 Risk Analyst Jobs in Maryland
Find roles in Maryland that match your experience and apply in just a few clicks.
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