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Associate Quantitative Risk Analyst Jobs in Hoffman Estates, IL

Alliant

Senior Credit Risk Analyst

Chicago, IL · On-site

$84K - $131K/yr

... analytical frameworks for loan origination and loss forecasting ... Review relevant data to identify the quantitative and qualitative factors driving the credit risk ...

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 ...

William Blair

Senior Risk Analyst

Chicago, IL · On-site

$100K - $115K/yr

Utilize enterprise risk management principles and methodologies to perform quantitative analysis such as risk grading, financial risk, rate of failure. * Collaborate with business partners to ...

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 ...

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · Hybrid

Build and maintain quantitative risk models and analytics used to evaluate hedge fund investments - including factor and alpha decomposition, stress testing, and scenario analysis - working with ...

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · On-site

$175K - $215K/yr

Build and maintain quantitative risk models and analytics used to evaluate hedge fund investments - including factor and alpha decomposition, stress testing, and scenario analysis - working with ...

3M HEALTHCARE

Senior Financial Risk Analyst

Chicago, IL

$111K - $130K/yr

... quantitative analyses into liquidity risks emerging across the Robinhood ecosystem Enhance and ... risk models and forecasting frameworks to support proactive risk management Partner with Data ...

3M HEALTHCARE

Senior Financial Risk Analyst

Chicago, IL · On-site

$111 - $130/hr

Conduct deep‑drop quantitative analyses into liquidity risks emerging across the Robinhood ecosystem * Enhance and maintain liquidity risk models and forecasting frameworks to support proactive ...

3M HEALTHCARE

Senior Financial Risk Analyst

Chicago, IL

$111K - $130K/yr

... quantitative analyses into liquidity risks emerging across the Robinhood ecosystem Enhance and ... risk models and forecasting frameworks to support proactive risk management Partner with Data ...

DV Trading

Junior Quantitative Trader

Chicago, IL

DV is looking for a Junior Quantitative Trader to join our trading desk, where you will support live trading operations through quantitative analysis, execution support, and risk monitoring. This is ...

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All JobsAssociate Quantitative Risk Analyst JobsAssociate Quantitative Risk Analyst Jobs in Hoffman Estates, IL

Associate Quantitative Risk Analyst information

See Hoffman Estates, IL salary details

$15

$39

$64

How much do associate quantitative risk analyst jobs pay per hour?

As of Aug 22, 2026, the average hourly pay for associate quantitative risk analyst in Hoffman Estates, IL is $39.76, according to ZipRecruiter salary data. Most workers in this role earn between $29.28 and $48.41 per hour, depending on experience, location, and employer.

What is an associate quantitative risk analyst?

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?

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.

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.

What are popular job titles related to Associate Quantitative Risk Analyst jobs in Hoffman Estates, IL?

For Associate Quantitative Risk Analyst jobs in Hoffman Estates, IL, the most frequently searched job titles are:

What job categories do people searching Associate Quantitative Risk Analyst jobs in Hoffman Estates, IL look for?

The top searched job categories for Associate Quantitative Risk Analyst jobs in Hoffman Estates, IL are:

What cities near Hoffman Estates, IL are hiring for Associate Quantitative Risk Analyst jobs?

Cities near Hoffman Estates, IL with the most Associate Quantitative Risk Analyst job openings:

Associate Quantitative Risk Analyst jobs near you
Infographic showing various Associate Quantitative Risk Analyst job openings in Hoffman Estates, IL as of June 2026, with employment types broken down into 2% As Needed, 92% Full Time, 2% Part Time, 1% Temporary, and 3% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $82,691 per year, or $39.8 per hour.

Senior Credit Risk Analyst

Alliant

Chicago, IL • On-site

$84K - $131K/yr

Full-time

Medical, Dental, Vision, Retirement

Re-posted 18 days ago

Alliant Insurance Services rating

8.7

Company rating: 8.7 out of 10

Based on 23 frontline employees who took The Breakroom Quiz

70th of 311 rated insurance

Job description

In this hybrid role based at our Chicago Headquarters, you will develop and review credit policies and strategies as well as data and analytical frameworks for loan origination and loss forecasting. Review relevant data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Perform evaluation, implementation and monitoring of third-party and in-house scoring solutions. Perform model and strategy testing and assist with audit/regulatory requests. Work cross-functionally with other teams such as Advanced Analytics, Lending, Loan Servicing, Marketing, Finance, and Data Service teams, preparing underwriting and account management presentations to management for review and implementation.
Essential Responsibilities
  • Analyze origination risk factors and recommend/implement improvements in areas such as underwriting criteria, lending policies and standards, and loan product pricing to increase loan volumes within the risk appetite.
  • Review and monitor credit risk for credit cards, and recommend/implement line management, pricing and authorization strategies.
  • Prepare data for third-party quarterly mortgage & consumer loan portfolio performance analysis.
  • Provide support and rule recommendations for loan origination system implementation and maintenance.
  • Provide data and analytics support to assess risk with respect to future new and enhanced lending products as well as potential loan trading transactions.
  • Assess analytics including but not limited to economic capital analysis, credit loss modeling and mitigation, CECL implementation.
  • Query the data warehouse and other databases with tools such as SAP Business Objects / Microsoft SQL Server Management Studio to extract, summarize, and save relevant data.
  • Drive improvements by utilizing statistical techniques in test set-up to more accurately assess effectiveness of proposed risk strategies.
  • Work with other teams such as Advanced Analytics to design and build predictive models in tools such as Python/R/SAS.
  • Evaluate, implement, and monitor third-party scoring solutions.
  • Prepare supporting information and present findings to management.
  • Generate periodic reports for audit and regulatory compliance and assist with ad hoc requests.
  • Help formulate and revise credit policies and procedures to address new regulations.

Education & Years of Experience
  • Minimum- 4 Year Bachelors Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Preferred - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Minimum - 3 Years Experience in credit risk analytics within financial services

In Lieu of Education
  • 5 Years Experience in credit risk analytics within financial services

Compensation & Benefits:
Typical hiring range: $84,200.00 to $131,000.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.
Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:
  • Annual performance bonus
  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.
Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.
The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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