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Business Risk Analyst Jobs in Illinois (NOW HIRING)

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL · On-site

$72K - $90K/yr

The Catastrophe Risk Analyst analyzes data, models risk and provides strategic recommendations to ... business needs, and market demands. The pay range is subject to change and may be modified in the ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

The Catastrophe Risk Analyst analyzes data, models risk and provides strategic recommendations to ... business needs, and market demands. The pay range is subject to change and may be modified in the ...

William Blair

Senior Risk Analyst

Chicago, IL · Hybrid

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory ... Apply knowledge of enterprise risk management principles and methodologies to aid business partners ...

Primient

Sr. Risk Analyst

Schaumburg, IL · On-site

Guided by our values of Safety, Excellence, Integrity, and Growth, we're focused on growing our business, our reputation, and the career of every teammate. About the Role: Sr. Risk Analyst We are ...

New

Peterson Technology Partners

Model Risk Analyst

Chicago, IL · On-site

$75K - $125K/yr

The Model Risk Analyst (Analyst) within the Model Risk Management Group (MRM) is responsible for ... Graduate Degree (MS/MA/MBA) in a quantitative discipline (e.g., Mathematics, Statistics, Financial ...

William Blair

Senior Risk Analyst

Chicago, IL · On-site

$100K - $115K/yr

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory ... Collaborate with business partners to recommend solutions to reduce or control risk. * Develop ...

Adyen

Credit Risk Analyst

Chicago, IL · On-site

$100K - $130K/yr

Analyze the impact of business model, industry and macro-economic developments on the credit portfolios and the credit risk offering of Adyen; * Develop and implement credit risk strategies to ...

Adyen

Credit Risk Analyst

Chicago, IL · Hybrid

$100K - $130K/yr

Analyze the impact of business model, industry and macro-economic developments on the credit portfolios and the credit risk offering of Adyen; * Develop and implement credit risk strategies to ...

Servbank

AVP, Banking Risk & Controls

Watseka, IL · On-site

$94K - $110K/yr

... of business, in partnership with the Servbank BSA team. This role provides oversight for ... The AVP ensures the ongoing testing schedule is executed by analyzing capacity and assigning ...

Servbank

AVP, Banking Risk & Controls

Danville, IL · On-site

$94K - $110K/yr

... of business, in partnership with the Servbank BSA team. This role provides oversight for ... The AVP ensures the ongoing testing schedule is executed by analyzing capacity and assigning ...

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All JobsBusiness Risk Analyst JobsBusiness Risk Analyst Jobs in Illinois

Business Risk Analyst information

See Illinois salary details

$17

$41

$77

How much do business risk analyst jobs pay per hour?

As of Aug 21, 2026, the average hourly pay for business risk analyst in Illinois is $41.97, according to ZipRecruiter salary data. Most workers in this role earn between $30.53 and $51.49 per hour, depending on experience, location, and employer.

What is a business risk analyst?

A Business Risk Analyst is a professional who identifies, assesses, and helps manage risks that could affect a company's financial health or operations. They analyze data, industry trends, and internal processes to pinpoint potential threats and recommend strategies to mitigate them. Their work helps organizations make informed decisions, comply with regulations, and safeguard assets against potential losses. Business Risk Analysts often collaborate with various departments to ensure comprehensive risk management across the business.

What are some common challenges a business risk analyst faces when assessing risks across multiple departments?

A Business Risk Analyst often encounters the challenge of gathering consistent and comprehensive data from various departments, each with its own processes and risk perspectives. Coordinating across teams to identify, quantify, and prioritize risks requires strong communication and negotiation skills. Additionally, ensuring that risk mitigation strategies are both practical and aligned with organizational goals can be complex, especially in rapidly changing business environments. Frequent collaboration and adaptability are key to overcoming these challenges and ensuring effective risk management.

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

To thrive as a Business Risk Analyst, you need strong analytical skills, a solid understanding of risk management principles, and typically a degree in finance, business, or a related field. Familiarity with risk assessment software, data analysis tools like Excel or SQL, and relevant certifications such as FRM or CRM are commonly required. Excellent problem-solving abilities, attention to detail, and effective communication help you stand out in this role. These skills and qualities are essential for accurately identifying, assessing, and mitigating risks to support sound business decision-making.

What is the difference between Business Risk Analyst vs Credit Analyst?

AspectBusiness Risk AnalystCredit Analyst
Required CredentialsBachelor's degree in finance, economics, or related field; certifications like FRM or CRMBachelor's degree in finance, accounting, or related; certifications like CFA or credit-specific courses
Work EnvironmentCorporate offices, consulting firms, financial institutionsBanks, lending institutions, financial services
Employer & Industry UsageUsed across industries to assess overall business risksPrimarily in banking and lending sectors to evaluate creditworthiness

The main difference is that Business Risk Analysts focus on assessing overall risks facing a business, including market, operational, and strategic risks, while Credit Analysts specifically evaluate the creditworthiness of individuals or companies to determine loan eligibility. Both roles require similar financial knowledge and certifications but serve different purposes within financial and business risk management.

Do business risk analysts make good money?

Business risk analysts typically earn a competitive salary that varies by industry and experience level, with median annual wages often exceeding national averages for similar roles. Professionals in this field with certifications like CRC or FRM and strong analytical skills can increase their earning potential. Salaries generally range from $60,000 to over $100,000 annually, depending on location and employer size.

How much do business risk analysts get paid?

Business risk analysts typically earn a median annual salary of around $70,000 to $90,000, depending on experience, location, and industry. Entry-level positions may start lower, while experienced analysts with certifications can earn over $100,000 annually.

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

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

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

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

What are popular job titles related to Business Risk Analyst jobs in IL?

For Business Risk Analyst jobs in IL, the most frequently searched job titles are:

Business Risk Analyst jobs near you
Infographic showing various Business Risk Analyst job openings in Illinois as of August 2026, with employment types broken down into 88% Full Time, 10% Part Time, and 2% Contract. Highlights an 89% Physical, 3% Hybrid, and 8% Remote job distribution, with an average salary of $87,289 per year, or $42 per hour.

Business Risk Management Analyst

Federal Home Loan Bank of Chicago

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 3 days ago

New

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.
  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

Who we are
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
What it's like to work here
At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year
What you'll do
The Analyst, Business Risk Management (BRM) supports the Bank's first-line risk function within the member-facing business, assisting with appropriateness reviews, exception tracking, governance and controls documentation, key risk indicator (KRI) reporting, and 7th District Mortgage Partnership Finance® (MPF®) oversight. Working under the Sr. Manager, Business Risk Management, the Analyst performs the day-to-day analytical, reporting, and documentation activities that help ensure first-line risk management practices are disciplined, timely, well controlled, and audit-ready.
This is a hands-on analytical role for someone who is detail-oriented, organized, and comfortable working with data, documentation, and cross-functional partners. The Analyst will build durable first-line risk skills while supporting a function that is central to the Bank's control environment.
This position sits within the Member Financial Strategies group, reports to the Sr. Manager, Business Risk Management, and partners with Solutions, Sales, Sales Operations, Risk Management, Compliance, and Internal Audit.
How you'll make an impact
  • Help build and shape a growing first-line risk management function that plays a critical role in supporting the Bank's member-facing businesses and strategic objectives.
  • Turn data into insights by analyzing risk trends, developing reporting solutions, and helping leadership make informed decisions.
  • Influence sound business decisions and risk disciplines while partnering with stakeholders across the first, second, and third lines of defense.

What you can expect
Appropriateness & Transaction Support
  • Perform initial appropriateness reviews of member transactions and solution designs against the established framework, flagging items for Manager review
  • Conduct and/or compile supporting analysis and document rationale for suitability determinations
  • Help maintain and refine appropriateness checklists, templates, and supporting procedures

Exception Tracking & Documentation
  • Maintain the first-line exception log, tracking status, aging, conditions, approvals, and remediation
  • Prepare clear exception write-ups and ensure documentation is complete and audit-ready
  • Follow up with stakeholders to keep open items moving toward resolution

KRI & Risk Reporting
  • Gather data and produce recurring KRI and first-line risk reports on schedule
  • Perform exposure and trend analysis and support ad hoc risk analytics
  • Design and maintain dashboard reporting to support risk analysis and monitoring
  • Identify and escalate potential risk concerns, reporting anomalies, limit or risk appetite breaches, aging exceptions to the Manager in a timely manner
  • Help translate risk data into clear, accurate reporting for the Manager and stakeholders

Governance, Controls & MPF Oversight Support
  • Maintain control inventories, policy and procedure documentation, and evidence repositories
  • Support first-line oversight of 7th District MPF activity through data gathering, monitoring, and reporting
  • Help ensure first-line records are organized, current, and readily retrievable

Cross-Functional & Audit Support
  • Assist in responding to Second Line of Defense, Internal Audit, and regulatory requests with timely, accurate documentation
  • Coordinate with Solutions, Sales, and Sales Operations to gather information, resolve follow-up items, and support consistent execution of fist-line risk activities
  • Contribute to process improvements that increase the accuracy and efficiency of first-line activities

What you'll bring
  • Bachelor's degree in Finance, Economics, Statistics, Business Analytics, Risk Management, or a related field. Advanced degree or relevant professional certification (FRM, CFA, PRM, CERP) is a plus.
  • 1-3 years of experience in risk, controls, audit, compliance, operations, or analytics at a financial institution; relevant internships and rotational experience will be considered.
  • Strong data and analytical skills, including proficiency in Excel; familiarity with SQL, Tableau, or Databricks is a plus.
  • Exposure to risk frameworks, controls, or the MPF program is a plus.
  • Demonstrated ability to manage recurring deliverables accurately and on deadline.
  • Solid analytical and documentation skills, with strong attention to detail and accuracy.
  • Foundational risk fundamentals, including familiarity with KRIs and exposure analysis.
  • Developing regulatory awareness, including an understanding of the three-lines-of-defense model.
  • Highly organized, with the ability to manage multiple recurring deliverables to deadline.
  • Exceptional written and verbal communication skills.
  • Collaborative and dependable, able to partner credibly across functions.
  • Comfort working with data and reporting tools; Excel required, with SQL, Tableau, or Databricks a plus.

The Perks
At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.
Salary Range:
$75,325.00 - $125,500.00
The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

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