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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 · On-site

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 ...

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 ...

Adyen

Credit Risk Analyst

Chicago, IL · On-site

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 ...

New

Adyen

Credit Risk Analyst

Chicago, IL · On-site

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 ...

New

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

Oswego, 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 29, 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.

Risk Analyst

William Blair

Chicago, IL • Hybrid

Other

Re-posted 17 days ago

Job description

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs, and develop and analyze alternatives for risk mitigation. Apply knowledge of enterprise risk management principles and methodologies to aid business partners in establishing lines of defense to address risks and monitor their effectiveness. Recommend solutions to address potential risk changes and future trends. Assist in educating employees on risk awareness and the firm's enterprise risk management framework.

Responsibilities include but may not be limited to:

  • Develop and maintain an understanding of assigned business areas, including their current processes, systems, initiatives, market environment, and business strategies and challenges.
  • Identify and analyze specific operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the business area.
  • Categorize and assess the severity of risks within a defined framework. Identify potential risk impact and costs to the firm.
  • 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 recommend solutions to reduce or control risk.
  • Develop reports and presentations to outline findings and recommendations for risk mitigation opportunities and costs.
  • Provide risk management perspective to business areas as they consider proposed changes in their organization, operations or systems. Educate businesses in understanding and addressing operational, legal and regulatory and financial risks.
  • Identify and assess changes in government legislation and advise on compliance.
  • Continuously update assigned components of the enterprise risk portfolio. Monitor progress on risk mitigation efforts.
  • Develop contingency plans to deal with emergencies such as business continuity, emergency response, crisis communication.
  • Ensure all work activities are in compliance with applicable rules, regulations, policies and procedures.
  • Additional responsibilities as requested.

Qualifications:

  • Bachelor's Degree required
  • 2 - 5 years of financial services industry and risk management experience required, preferably in a risk, audit, or compliance roleStrong written and verbal communication skills
  • Knowledge of enterprise risk principles and methodologies
  • Knowledge of applicable regulations
  • Ability to develop cross-functional relationships to achieve project objectives
  • Project management and prioritization skills
  • Critical thinking and problem solving skills

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