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Associate Risk Analyst Jobs in Illinois (NOW HIRING)

Jensen Hughes

Associate Investigative Analyst

Chicago, IL · On-site

$24 - $26/hr

Today, our expertise extends broadly across closely related security and risk-based fields - from ... Job Overview Jensen Hughes has an exciting new position for an Associate Analyst in our Chicago ...

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All JobsAssociate Risk Analyst JobsAssociate Risk Analyst Jobs in Illinois

Associate Risk Analyst information

See Illinois salary details

$14

$39

$63

How much do associate risk analyst jobs pay per hour?

As of Sep 6, 2026, the average hourly pay for associate risk analyst in Illinois is $39.23, according to ZipRecruiter salary data. Most workers in this role earn between $28.89 and $47.74 per hour, depending on experience, location, and employer.

What does an associate risk analyst do?

An Associate Risk Analyst helps organizations identify, assess, and manage potential risks that could affect their operations or financial stability. Their daily tasks often include analyzing data, preparing risk reports, evaluating risk management policies, and supporting senior analysts in developing strategies to mitigate potential threats. They typically work in industries such as finance, insurance, or consulting, and use various analytical tools to detect and evaluate risks. Strong analytical, communication, and problem-solving skills are important for success in this role.

What are the key skills and qualifications needed to thrive as an associate risk analyst, and why are they important?

To thrive as an Associate Risk Analyst, you need strong analytical abilities, attention to detail, and a background in finance, economics, or a related field—often supported by a bachelor’s degree. Familiarity with risk assessment software, data analysis tools like Excel or SAS, and knowledge of regulatory frameworks are typically required. Effective communication, problem-solving, and teamwork are vital soft skills that help you convey findings and collaborate across departments. These skills ensure accurate risk evaluation, compliance, and informed decision-making to protect organizational interests.

What are some common challenges an associate risk analyst faces during the first year on the job?

New Associate Risk Analysts often encounter challenges such as adapting to fast-paced environments, understanding complex risk models, and learning to interpret large volumes of data accurately. Balancing multiple projects and meeting deadlines while maintaining attention to detail can also be demanding. Additionally, collaborating effectively with team members from different departments, such as compliance and finance, requires strong communication skills and a willingness to learn from experienced colleagues.

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

AspectAssociate Risk AnalystRisk Analyst
Required CredentialsBachelor's degree in finance, economics, or related field; some certifications like FRM or CRMBachelor's or master's degree; often holds certifications like FRM, CRM, or CRC
Work EnvironmentEntry-level position in finance, insurance, or banking firms; supervised environmentMore experienced role; involved in complex risk assessments and decision-making
Employer & Industry UsageCommon in banking, insurance, and financial servicesUsed across similar industries, often with more responsibility

The main difference between an Associate Risk Analyst and a Risk Analyst lies in experience and responsibility. The Associate Risk Analyst is an entry-level role focusing on supporting risk assessments, while the Risk Analyst handles more complex analysis and decision-making. Both roles require similar educational backgrounds and certifications, but the Risk Analyst typically has more experience and autonomy in their work.

Do risk analysts make good money?

Risk analysts typically earn a competitive salary that varies by industry, experience, and location. Entry-level positions often start around $60,000 annually, with experienced analysts earning over $100,000, especially in finance or insurance sectors. Skills in data analysis, risk assessment, and certifications like FRM or CFA can enhance earning potential.

How much do associate risk analysts get paid?

Associate risk analysts typically earn a median annual salary of around $60,000 to $70,000, depending on experience, location, and industry. Entry-level positions may start lower, while those with specialized skills or certifications can earn higher salaries. Compensation often includes benefits such as health insurance and retirement plans.

Is risk analyst a hard job?

A risk analyst role involves analyzing data to identify potential risks and developing strategies to mitigate them, which requires strong analytical skills, attention to detail, and proficiency with data analysis tools. The job can be demanding due to the need for accuracy, problem-solving, and often working under tight deadlines, but it is manageable with proper training and experience.

What are the most commonly searched types of Risk Analyst jobs in Illinois?

The most popular types of Risk Analyst jobs in Illinois are:

What are popular job titles related to Associate Risk Analyst jobs in Illinois?

For Associate Risk Analyst jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Associate Risk Analyst jobs in Illinois look for?

The top searched job categories for Associate Risk Analyst jobs in Illinois are:

What cities in Illinois are hiring for Associate Risk Analyst jobs?

Cities in Illinois with the most Associate Risk Analyst job openings:

Associate Risk Analyst jobs near you
Infographic showing various Associate Risk Analyst job openings in Illinois as of August 2026, with employment types broken down into 100% Full Time. Highlights an 74% In-person, and 26% Remote job distribution, with an average salary of $81,601 per year, or $39.2 per hour.

Corporate Investment Banking Risk Associate - Diversified Industries

JPMorgan Chase & Co.

Chicago, IL • On-site

$125K - $140K/yr

Full-time

Medical, Retirement

Re-posted 21 days ago

Key responsibilities

  • Lead and participate in credit origination, structuring, and underwriting of new lending activities for non-investment grade / leveraged companies.

  • Analyze, approve, and monitor credit requests and portfolio performance, including regulatory compliance and ongoing portfolio review.

  • Develop and articulate risk assessments of clients, transactions, and industry sectors, and prepare credit approval materials.

JPMorgan Chase & Co. rating

7.9

Company rating: 7.9 out of 10

Based on 500 frontline employees who took The Breakroom Quiz

78th of 175 rated banks

Job description


As a Credit Risk Associate in the Diversified Industries team, you will play a part in leading the credit origination and portfolio management of non-investment grade / leveraged companies covered by the Diversified Industries team. You will lead the structuring and underwriting of new lending activities, analyze and approve other credit requests, facilitate regulatory monitoring, and perform on-going portfolio monitoring. In each capacity, the Credit team works in partnership with Investment Banking Coverage, Global Corporate Banking, Debt Capital Markets, and many other product partners to meet the needs of clients. You will develop a broad and deep understanding of the business, financial, competitive, and industry risks faced by clients in the assigned portfolio. You will work closely with the team's Credit Executive, Credit Officers and Analysts/Associates on the team. This candidate will also be expected to play an important role in mentoring and developing team Analysts to enhance the performance of the broader team.
Job Responsibilities
  • Identify the key risk factors associated with clients, transactions, and industry sub-sectors across an assigned portfolio, and develop and articulate a dynamic, forward-looking risk assessment of client companies, transactions, competitive threats, industry and other factors
  • Lead and/or participate in client due diligence by way of attending client, bank, and other meetings to develop a better understanding of client companies, management teams, and industry sectors, and using financial models to incorporate the impact of forward-looking risk assessment on key value drivers, ultimately developing and recommending appropriate credit structures relative to risk assessment
  • Apply corporate finance and accounting expertise to develop appropriate financing structures, and prepare and review credit approval materials, ensuring all credit risk policies are followed
  • Review and negotiate legal documentation to ensure terms are appropriate and consistent with credit approval
  • Ensure risk ratings are accurate and reflect a current forward-looking view of the client, while providing early identification and proactive management of deteriorating credits and other problem situations
  • Prepare and present quarterly financial snapshot of the Diversified Industries portfolio, as well as annual portfolio review materials to senior management
  • Assist in training and developing analysts, and work closely with analysts and our middle office and data teams to ensure accuracy of credit system data

Required Qualifications, Skills and Capabilities
  • Bachelor's degree
  • 2+ years of commercial/investment banking lending experience including extensive credit, structuring and marketing
  • Possesses a solid understanding of financial products, corporate finance, financial modeling and market dynamics
  • Advanced knowledge of financial statements and accounting
  • Experience with documentation related to credit agreements
  • Knowledge/experience of derivative products and documentation (including ISDA and CSA)

Preferred Qualifications, Skills and Capabilities
  • Excellent communication skills, both verbal and written
  • Ability to effectively present analysis and interact with key stakeholders
  • Capability to perform due diligence and negotiation with clients
  • Ability to perform well under pressure in a demanding environment managing multiple tasks at the same time

About Us
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About the Team
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

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