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Associate Quantitative Risk Analyst Jobs in Hoffman Estates, IL

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

$112K - $211K/yr

What You'll Do * Lead risk monitoring activities for complex and elevated-risk member firms ... Intermediate-to-advanced quantitative and analytical problem-solving skills, including the ability ...

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

$20.19 - $26/hr

The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ... The associate will make informed decisions based on Risk evaluation criteria. Principle Duties and ...

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ... The associate will make informed decisions based on Risk evaluation criteria. Principle Duties and ...

US Bank

Quantitative Model Analyst - AML

Chicago, IL · On-site

The individual will partner closely with model owners, Model Risk Management, internal and external ... Experience working with quantitative models, analytics, or monitoring frameworks in a regulated ...

Bank of America

Sr. Quantitative Finance Analyst

Chicago, IL · On-site

$88K - $109K/yr

Performs end-to-end market risk stress testing including scenario design, scenario implementation ... This position may also have responsibilities for managing associates. At Bank of America, all ...

Corgi Insurance

Quantitative Associate

Chicago, IL · On-site

$200K - $350K/yr

Build and maintain quantitative models to support pricing, underwriting, forecasting, and business ... risk modeling, or actuarial concepts. * Experience building production analytical tools or models.

CME Group

Risk Mgmt Policy Analyst

Chicago, IL · On-site

$81K - $135K/yr

The Risk Management Policy Associate must have strong knowledge of U.S. regulatory requirements for ... The Risk Management Policy Analyst will be responsible for establishing and maintaining risk ...

CME Group

Risk Mgmt Policy Analyst

Chicago, IL · On-site

$81K - $135K/yr

The Risk Management Policy Associate must have strong knowledge of U.S. regulatory requirements for ... The Risk Management Policy Analyst will be responsible for establishing and maintaining risk ...

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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.

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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.

2027 Quantitative Research - Risk and Treasury - Summer Internship - Associate - United States

J.P. Morgan

Chicago, IL

Full-time, Temporary, Internship

Posted 17 days ago

Job description

hackajob is collaborating with J.P. Morgan to connect them with exceptional professionals for this role.

JOB DESCRIPTION

At JPMorganChase, we champion your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you are passionate, curious and ready to make an impact, we are looking for you.

Job Summary

As a Quantitative Research - Risk and Treasury Summer Associate in the Quantitative Modeling Program, you will work alongside top-tier professionals in a dynamic environment. You'll apply academic knowledge to real-world financial challenges, gain hands-on experience, and build a valuable network. This program sets a solid foundation for your career, with potential full-time offers upon successful completion.

Job Responsibilities

  • Analyze data to identify patterns and trends.
  • Conduct back testing and assess strategies.

  • Maintain and improve software systems and tools for risk and treasury operations.

  • Assess models for conceptual soundness, risks, and enhancements.
  • Propose creative solutions to complex challenges.
  • Collaborate with internal teams to advance risk and treasury services.
  • Focus on model development and review of conceptual design.
  • Develop, validate, and enhance mathematical models and algorithms.
  • Optimize financial solutions across asset classes and instruments.

Required Qualifications, Capabilities, and Skills

  • Enrolled in a Master's, or PhD program in mathematics, statistics, physics, engineering, computer science, economics, or data science/machine learning, graduating between December 2027 and July 2028 in the U.S.

  • Proficiency in Python, and/or C++ programming.

  • Strong modeling, analytical, quantitative, and problem-solving skills.
  • Excellent communication skills for presenting complex concepts.
  • Interest in banking analytics, global markets, and quantitative research.
  • Ability to thrive in a fast-paced, collaborative environment.

Preferred qualifications, capabilities and skills

  • Preferred to have candidates who enrolled in a 2 years Master's or PhD program.

  • Experience with R, MATLAB, or SQL.

  • Understanding of banking products, financial instruments, and market dynamics.
  • Strong organizational skills for managing multiple projects.
  • Ability to articulate complex quantitative concepts to diverse audiences.
  • Familiarity with AI tools used in research and programming. 

Locations

  • New York Metro
  • Plano, TX
  • Chicago, IL

Teams Available

Risk - Model Risk Governance Review Team

Team Role:

The Model Risk Governance and Review (MRGR) group is responsible for conducting model validation to help identify, measure, and mitigate Model Risk. The objective is to ensure that models are used appropriately in the business context and that model users are aware of the models' strengths and limitations and how these can impact their decisions.

Team Task: 

Evaluate conceptual reasonableness of assumptions, reliability of inputs and the estimation methodology, completeness of testing, and correctness of implementation associated with development and use of the model. Draft validation reports. Interact with model developers.

Risk - Wholesale Credit Team

Team Role:

Work as a quantitative researcher/engineer in the Wholesale Credit team, contributing to innovative credit risk solutions. Collaborate with experts to design and implement financial engineering models for wholesale credit portfolios. Apply advanced quantitative techniques to analyze credit exposures and forecast performance under various scenarios. Support the development of new methodologies to address emerging risks in wholesale lending.

Team Task: 

Develop statistical, AI/ML, and platform engineering solutions for grading, forecasting, and risk management activities. Build robust models to assess borrower creditworthiness and predict potential defaults. Enhance risk management frameworks by integrating data-driven insights and automation. Partner with business stakeholders to deliver actionable analytics that inform strategic credit decisions.

Treasury - Quantitative Balance Sheet Strategy Team

Team Role:

Quantitative Balance Sheet Strategy (QBSS) delivers quantitative analytics to support JPMorganChase's Global Corporate Treasury in Asset & Liability Management and balance sheet strategy. Key functions include ALM, research, capital and liquidity strategy, quantitative modelling and analytics across all lines of business. QBSS supports initiatives such as firm-wide balance sheet optimization, interest rate risk modeling, internal transfer pricing, capital allocation, and industry-leading research on financial flows.

Team Task: 

In QBSS we provide our interns with broad exposure to business activities under the Corporate Treasury umbrella. A typical summer internship includes one or two major projects as well as multiple ad-hoc exercises. Past projects have spanned interest rate risk forecasting, liquidity position modeling, capital buyback optimization, risk-adjusted performance measurement of investment portfolio allocation, balance sheet optimization via dimensionality reduction, analysis of industry-wide deposit flow dynamics, and market share evolution in major lending markets.

About You
We are looking for innovative problem-solvers with a passion for developing complex solutions that support our global business. 

Beyond that, what we're most interested in are the things that make you unique: the personal qualities, outside interests and achievements beyond academia that demonstrate the kind of person you are and the difference you could bring to the team.

About Us

At JPMorganChase, we're creating positive change for the diverse communities we serve. We do this by championing your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you are passionate, curious and ready to make an impact, we are looking for you.

What's Next?

Help us learn about you by submitting a complete and thoughtful application, which includes your resume. Your application and resume are way for us to initially get to know you, so it's important to complete all application questions so we have as much information about you as possible. To start the application, you will be prompted to enter your email address. Your email address will be used to create and maintain your profile so make sure it is one you will have long term access to. Do not use an email address with ".edu" extension as doing so could result in delays receiving updates regarding your candidacy.

After you confirm your application, we will review it to determine whether you meet required qualifications. If you are advanced to the next step of the process, you'll receive an email invitation progress to the Technical Screen Interview. 

JPMorganChase is committed to creating an inclusive work environment that respects all people for their unique skills, backgrounds and professional experiences. We strive to hire qualified, diverse candidates, and we will provide reasonable accommodations for known disabilities.

Visit jpmorganchase.com/careers for upcoming events, career advice, our locations and more.

©2025 JPMorganChase is an equal opportunity and affirmative action employer Disability/Veteran.

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