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Business Risk Analyst Jobs in Illinois (NOW HIRING)

William Blair

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 ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/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 ...

Brookfield

Risk Analyst

Chicago, IL

Collect, aggregate, and analyze risk data arising from risk assessments and business processes * Support development and refinement of key risk indicators (KRIs) and risk metrics * Perform research ...

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 ...

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 ...

SageSure

Catastrophe Risk Analyst

Chicago, IL · On-site

Collaborate with internal teams (underwriting, actuarial, reinsurance, risk, and data science) to apply research findings to real-world business decisions. * Design and implement analytical tools or ...

ZS

Governance & Risk Analyst

Chicago, IL · On-site

$85K - $95K/yr

Governance & Risk Analyst in the Enterprise will... The GRC Analyst will support the organization ... Business Continuity & Disaster Recovery * Regulatory & Compliance requirements * Clearly document ...

Chubb

Vendor Risk Analyst

Chicago, IL · On-site +1

The Vendor Risk Management Analyst will be responsible for assessing, monitoring, and mitigating ... Bachelor's degree in Business Administration, Risk Management, Information Security, or a related ...

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

Bourbonnais, 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 Jul 27, 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 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 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.

How much do risk analysts get paid?

Risk analysts typically earn a median annual salary of around $70,000 to $90,000, depending on experience, education, and location. Entry-level positions may start lower, while experienced analysts with certifications like FRM or CFA can earn higher salaries, especially in financial or corporate sectors.

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 qualifications do I need to be a risk analyst?

A business risk analyst typically needs a bachelor's degree in finance, economics, business, or a related field. Strong analytical skills, proficiency with data analysis tools like Excel or specialized software, and knowledge of risk management principles are essential; certifications such as FRM or CRM can enhance job prospects.

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 does a risk business analyst do?

A risk business analyst evaluates potential risks that could impact an organization’s operations, finances, or reputation. They analyze data, identify vulnerabilities, and develop strategies to mitigate or manage risks, often using tools like risk assessment frameworks and reporting software. Their work supports informed decision-making and helps ensure compliance with regulations.

Is risk analyst an entry level job?

A risk analyst role can be entry level or require several years of experience, depending on the organization. Entry-level risk analyst positions typically require a bachelor's degree in finance, economics, or a related field, and may involve basic data analysis skills and familiarity with risk management tools. Advancement often depends on gaining experience and developing specialized skills or certifications such as FRM or CRM.
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 July 2026, with employment types broken down into 86% Full Time, 9% Part Time, 1% Temporary, and 4% Contract. Highlights an 85% Physical, 6% Hybrid, and 9% Remote job distribution, with an average salary of $87,289 per year, or $42 per hour.
Business Analyst, IAM Risk & Audit

Business Analyst, IAM Risk & Audit

Northern Trust

Chicago, IL • On-site

$88K - $151K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 4 days ago

Northern Trust rating

8.2

Company rating: 8.2 out of 10

Based on 27 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world's most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Position Summary
The Business Analyst, Identity & Access Management (IAM) Risk & Audit, plays a key role in supporting the organization's IAM governance, risk, and compliance programs. This position partners with IAM engineering teams, risk management, internal audit, compliance functions, and business stakeholders to strengthen the IAM control environment and support regulatory, audit, and risk management activities.
The successful candidate will support control monitoring, audit readiness, reporting, issue remediation, and process improvement initiatives across key IAM capabilities, including Identity Governance & Administration (IGA), Privileged Access Management (PAM), Access Controls, Authentication, Authorization, and Directory Services.
Key Responsibilities
Audit & Compliance Support
  • Support internal and external audit activities related to IAM processes and controls.
  • Gather, validate, and deliver audit evidence in accordance with established timelines.
  • Assist with regulatory examinations, risk assessments, and compliance reviews.
  • Partner with control owners to address audit requests and inquiries.
  • Maintain documentation supporting IAM policies, standards, procedures, and controls.
Risk & Control Management
  • Support execution and monitoring of IAM controls.
  • Assist in identifying control gaps, process weaknesses, and areas for improvement.
  • Track audit findings, risk issues, and remediation activities through completion.
  • Help ensure IAM processes align with regulatory and security requirements.
  • Participate in control testing and validation activities.
Reporting & Data Analysis
  • Develop and maintain IAM risk, audit, and compliance reporting.
  • Analyze IAM data to identify trends, control exceptions, and operational risks.
  • Create dashboards, scorecards, and metrics to support management reporting.
  • Assist with KPI, KCI, and control effectiveness reporting.
  • Support recurring reporting requirements for leadership and governance forums.
Process Improvement
  • Identify opportunities to improve audit readiness and control effectiveness.
  • Assist in automating manual reporting and evidence collection processes.
  • Contribute to the development of standardized documentation and repeatable procedures.
  • Support continuous improvement initiatives that improve efficiency and reduce risk.
Collaboration & Stakeholder Engagement
  • Work closely with IAM engineers, risk teams, auditors, and business stakeholders.
  • Communicate audit requirements, findings, and remediation progress effectively.
  • Participate in risk reviews, control discussions, and project meetings.
  • Support knowledge sharing and best practice adoption across the IAM organization.
Required Qualifications
  • Bachelor's degree in Cyber Security, Information Technology, Business, Computer Science, or a related field.
  • 3-7 years of experience in Cyber Security, IAM, Risk Management, Audit, Compliance, or related disciplines.
  • Understanding of Identity & Access Management concepts and practices.
  • Experience working with control frameworks, audit activities, or compliance processes.
  • Strong analytical and problem-solving skills.
  • Ability to analyze data and produce meaningful reporting.
  • Strong organizational skills with attention to detail.
  • Excellent written and verbal communication skills.
  • Proficiency with Microsoft Office products including Excel, PowerPoint, and Word.
Salary Range:
$88,900 - 151,100 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com , or alternatively you can discuss your individual requirements with the recruiter you are working with.

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