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Associate Quantitative Risk Analyst Jobs in Illinois

Northern Trust

Specialist, Investment Risk

Chicago, IL · Hybrid

$137K - $233K/yr

Expand the use of quantitative risk analysis and export the best practices to other investment products. * Develops periodic goals, organizes the work, sets short-term priorities, monitors all ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$137K - $233K/yr

Expand the use of quantitative risk analysis and export the best practices to other investment products. * Develops periodic goals, organizes the work, sets short-term priorities, monitors all ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

Analyze data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Essential Responsibilities * Use data and analytics to develop analytical ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance ... quantitative field. * 5+ years of experience in catastrophe modeling, natural hazard risk research ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance ... quantitative field. * 5+ years of experience in catastrophe modeling, natural hazard risk research ...

ComEd

Quantitative Analyst

Oakbrook Terrace, IL · On-site

Primary Purpose The Quantitative Analyst for the Utility of the Future will design and develop ... pricing, risk management, and overall strategic planning for innovative utility platform ...

Invesco

Junior Risk Analyst

Downers Grove, IL · Hybrid

... and quantitative skills, with interest in benchmarking, performance measurement, and attribution, as well as portfolio risk (e.g., factor exposures, volatility, drawdowns, tracking error, sector ...

Invesco

Junior Risk Analyst

Downers Grove, IL · On-site

... and quantitative skills, with interest in benchmarking, performance measurement, and attribution, as well as portfolio risk (e.g., factor exposures, volatility, drawdowns, tracking error, sector ...

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

FINRA is seeking a Senior Risk Monitoring Analyst to play a pivotal role in safeguarding the ... Intermediate-to-Advanced quantitative and analytical problem-solving abilities * Proven ability to ...

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All JobsAssociate Quantitative Risk Analyst JobsAssociate Quantitative Risk Analyst Jobs in Illinois

Associate Quantitative Risk Analyst information

What does a quantitative risk analyst do?

A quantitative risk analyst evaluates financial risks using mathematical models and statistical techniques to identify potential losses and inform decision-making. They analyze data, develop risk assessment tools, and often use programming languages like Python or R, as well as risk management software, to monitor and mitigate risks within organizations. Strong analytical skills and knowledge of finance and statistics are essential for this role.

What are some common challenges faced by Associate Quantitative Risk Analysts in their first year, and how can they overcome them?

In their first year, Associate Quantitative Risk Analysts often encounter challenges such as adapting to complex financial models, learning to interpret large datasets, and effectively communicating technical findings to non-technical stakeholders. Navigating regulatory requirements and understanding the company's risk management framework can also be demanding. To overcome these obstacles, new analysts should proactively seek mentorship, participate in team discussions, and leverage internal training resources to build both technical and soft skills. Regular collaboration with colleagues in risk, finance, and IT departments can also provide valuable insights and accelerate professional growth.

What is the difference between Associate Quantitative Risk Analyst vs Credit Risk Analyst?

AspectAssociate Quantitative Risk AnalystCredit Risk Analyst
Required CredentialsBachelor's in finance, economics, or related field; often some familiarity with quantitative methodsBachelor's in finance, economics, or related field; certifications like CFA or FRM are common
Work EnvironmentFinancial institutions, risk management teams, quantitative departmentsBanking, lending institutions, credit departments
Employer & Industry UsageUsed in risk modeling, data analysis, and quantitative assessmentsFocuses on assessing creditworthiness and loan risk

The Associate Quantitative Risk Analyst primarily focuses on developing models and analyzing data to measure financial risks, often working with quantitative tools. In contrast, a Credit Risk Analyst concentrates on evaluating the creditworthiness of borrowers and managing credit risk. While both roles require similar educational backgrounds and work within financial institutions, their core responsibilities differ—one emphasizes quantitative modeling, the other credit assessment.

How much does a quant risk analyst make?

The average salary for a quantitative risk analyst is typically between $80,000 and $150,000 annually, depending on experience, location, and the firm. At firms like Morgan Stanley, salaries can vary based on seniority, with entry-level roles starting around $80,000 and more experienced analysts earning over $130,000, often supplemented by bonuses and benefits.

Is a quant analyst high paying?

A quantitative risk analyst typically earns a high salary compared to many other finance roles, especially with advanced skills in mathematics, programming, and data analysis. Compensation varies by industry, experience, and location but often includes bonuses and incentives due to the specialized nature of the work.

What is the salary of a quant risk analyst?

The average salary of a quantitative risk analyst typically ranges from $70,000 to $150,000 annually, depending on experience, location, and industry. Entry-level positions may start lower, while experienced analysts with advanced skills in programming and risk modeling can earn higher compensation, often supplemented with bonuses and benefits.

What are Associate Quantitative Risk Analysts?

Associate Quantitative Risk Analysts are entry- to mid-level professionals who help financial institutions and organizations assess and manage risk using mathematical models and statistical techniques. They analyze data to identify potential risks, develop risk management strategies, and support decision-making processes. Their work often involves using quantitative software, working with large datasets, and collaborating with other risk management and finance professionals. Typically, they have backgrounds in mathematics, statistics, finance, or related fields.

What are the key skills and qualifications needed to thrive as an Associate Quantitative Risk Analyst, and why are they important?

To thrive as an Associate Quantitative Risk Analyst, you need a strong background in mathematics, statistics, finance, and data analysis, typically supported by a relevant degree such as in finance, mathematics, or economics. Familiarity with statistical software (like R, SAS, or Python), financial modeling tools, and possibly certifications such as FRM or CFA is highly valuable. Strong analytical thinking, attention to detail, and effective communication are crucial soft skills for interpreting complex data and presenting findings. These competencies are essential for accurately assessing financial risks and supporting informed decision-making in risk management environments.
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Associate Quantitative Risk Analyst jobs near you
Senior Risk Analyst - Credit Risk & Marketing Analytics

Senior Risk Analyst - Credit Risk & Marketing Analytics

Acunor Inc

Chicago, IL • On-site

Other

Re-posted 2 days ago

Job description

Job Titile: Senior Risk Analyst - Credit Risk & Marketing Analytics

Location: Chicago, IL (Hybrid - once a month)

Job Type: Full Time

Job Description:

  • Support tactical & strategic risk analytics initiatives for US based banks' Risk team
  • Develop risk policy for Point of Sale (POS) lending, Buy-now-pay-later (BNPL), and Credit Card solutions
  • Design A/B testing frameworks with Design of Experiments (DOE) methodology to optimize risk management programs
  • Policy analytics to make sure correct customer segments are targeted and acquired
  • Recommend changes to business strategy and risk management policies
  • Build reporting/BI frameworks for Risk teams within the organization
  • Evaluate effectiveness of current policies & strategies, manage the monthly dashboards and ad-hoc analysis, analyze tests & performance related to funnel performance, portfolio verification performance and post issuance loan performance
  • Clearly communicate analysis as presentations to technical & non-technical groups
  • Develop and maintain effective working relationships with colleagues in other areas of Risk Management.
  • Summarize analytical findings into presentations and share analysis & reports with senior leadership.
  • Maintain a high degree of technical and policy understanding with respect to credit risk.
  • Manage assigned projects in a timely manner, ensuring accuracy and that deliverables are met.
  • Train, coach and develop team members
  • Lead team across geographies to drive client outcomes

Qualifications:

  • 4+ years of experience in Analytics or Data Science. 2+ years of experience in Risk Analytics or Marketing preferred.
  • Past experience of working with SQL, SAS and Tableau. Advanced knowledge required. (SAS mandatory)
  • Ability to write and create decks and very good communication skills. Ability to present insights and recommendations in a concise manner
  • Past experience in problem solving roles, strategic initiatives etc.
  • Educational Background: Bachelors or MS in Engineering, Mathematics, Physics, Finance, Quantitative fields preferred
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About Acunor

Sourced by ZipRecruiter

Acunor provides high quality digital engineers in the field of Java Full Stack Programming, Pega, Appian, Power BI, Salesforce, DevOps, No-Code & Low-Code, Data Science, Analytics, Data Base and Cloud Native solutions. ​We specialize in providing Java Full Stack Engineers, BPM (Pega, Appian) Consultants, Salesforce Consultants, AWS/Azure/GCP Engineers, Data Scientists, Technical PMs, Program and Engagement Managers. ​Management comprises of highly experienced and seasoned technology executives with vast expertise in Large Scale Development Projects, Cloud Native Solutions and Managed Services.

Industry

It services

Company size

11 - 50 Employees

Headquarters location

Princeton, NJ, US

Year founded

2016

Social media

Twitter

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