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Compliance Risk Management Intern Jobs in Illinois

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Provide independent model risk management and support for the VP of Model Risk as follows: Model ... Review of Model Documentation to ensure compliance with regulation/policy. Model documentation ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Provide independent model risk management and support for the VP of Model Risk as follows: Model ... Review of Model Documentation to ensure compliance with regulation/policy. Model documentation ...

Sinai Chicago

Director of Risk Management

Chicago, IL · On-site

Collaborate with the Chief Compliance Officer and Enterprise Risk Counsel to execute the Enterprise Risk Management Plan. * Participate in the development and review of organizational policies ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97.43 - $116.42/hr

The Risk Director will lead incident investigations, manage compliance with regulations, and develop proactive strategies to prevent harm and potential liabilities. At Montrose Behavioral Health ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

The Risk Director will lead incident investigations, manage compliance with regulations, and develop proactive strategies to prevent harm and potential liabilities. At Montrose Behavioral Health ...

Acadia Healthcare

Director of Risk Management

Chicago, IL · On-site

$97K - $116K/yr

The Risk Director will lead incident investigations, manage compliance with regulations, and develop proactive strategies to prevent harm and potential liabilities. At Montrose Behavioral Health ...

Northern Trust

Senior HR Compliance Consultant

Chicago, IL · On-site

$83K - $141K/yr

Knowledge of HR Compliance, risk management and the Company's strategic goals. * In-depth knowledge of employment regulations and local laws acquired through formal education and work experience is ...

Northern Trust

Senior HR Compliance Consultant

Chicago, IL · On-site

$83K - $141K/yr

Knowledge of HR Compliance, risk management and the Company's strategic goals. * In-depth knowledge of employment regulations and local laws acquired through formal education and work experience is ...

inlandgroup

Director of Risk Management

Oak Brook, IL · On-site

Inland Risk Management operates as a shared service model, offering the opportunity to collaborate ... Maintain the highest standards of professionalism, integrity, and compliance with all laws ...

powercon

Director of Risk Management

Chicago, IL · On-site

$150K - $175K/yr

Oversee subcontractor insurance compliance and onboarding and train PM/field teams on requirements ... Preferred: Risk Management, Insurance, Finance, Construction Management, or related field.

powercon

Director of Risk Management

Chicago, IL · On-site

$150K - $175K/yr

Oversee subcontractor insurance compliance and onboarding and train PM/field teams on requirements ... Preferred: Risk Management, Insurance, Finance, Construction Management, or related field.

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Compliance Risk Management Intern information

What does a compliance risk management intern do?

A Compliance Risk Management Intern assists organizations in identifying, assessing, and managing risks related to legal and regulatory compliance. Their responsibilities may include reviewing internal policies, helping with audits, monitoring regulatory changes, and supporting the development of compliance programs. Interns often work closely with compliance officers and risk managers to ensure the organization adheres to all relevant laws and industry standards. This role provides practical experience in risk assessment, policy analysis, and regulatory research.

What types of projects or tasks can a compliance risk management intern expect to work on during their internship?

As a Compliance Risk Management Intern, you can expect to assist with activities such as conducting risk assessments, supporting the development and implementation of compliance policies, and participating in internal audits or investigations. You may also help monitor regulatory changes, prepare reports for senior management, and collaborate with various departments to ensure adherence to compliance standards. This hands-on experience provides valuable exposure to compliance frameworks and cross-functional teamwork, offering a strong foundation for a future career in risk management or compliance.

What are the key skills and qualifications needed to thrive as a compliance risk management intern, and why are they important?

To thrive as a Compliance Risk Management Intern, you need a foundation in business, finance, or law, often supported by coursework or a degree in related fields. Familiarity with compliance management systems, Microsoft Office Suite, and risk assessment tools is typically expected. Strong attention to detail, analytical thinking, and effective communication are crucial soft skills for this role. These skills ensure interns can accurately identify risks, support regulatory adherence, and contribute to maintaining organizational integrity.

What is the difference between Compliance Risk Management Intern vs Compliance Analyst?

AspectCompliance Risk Management InternCompliance Analyst
Required CredentialsTypically pursuing or recent graduate in related fieldBachelor's degree in law, finance, or related field; certifications preferred
Work EnvironmentInternship setting, learning-focused, entry-levelFull-time professional role, more responsibility
Employer & Industry UsageUsed in financial, healthcare, and corporate sectorsCommon in similar industries, more permanent position
Search & Comparison IntentEntry-level, internship opportunities, learning rolesCareer advancement, professional compliance roles

The Compliance Risk Management Intern role is an entry-level position focused on learning and supporting compliance functions, often held by students or recent graduates. In contrast, a Compliance Analyst is a full-time professional role with greater responsibilities, requiring relevant education and certifications. Both roles are common in regulated industries like finance and healthcare, but the analyst position offers more career growth and specialization opportunities.

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

The most popular types of Compliance Risk Management jobs in Illinois are:

What cities in Illinois are hiring for Compliance Risk Management Intern jobs?

Cities in Illinois with the most Compliance Risk Management Intern job openings:

Compliance Risk Management Intern jobs near you

Risk Management Officer

Wintrust

Rosemont, IL • On-site

Full-time

Re-posted 18 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

71st of 171 rated banks

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."
Location:
Job location - Rosemont, IL- Hybrid position with some telecommuting flexibility, but requirement to physically be in Rosemont, IL office three days a week.
Responsibilities:
Provide independent model risk management and support for the VP of Model Risk as follows:
Model Validation
  • Perform independent and comprehensive validation of bank-wide statistical/econometric/ mathematical/qualitative (expert judgment) models for stress testing, asset allocation, valuation and pricing, BSA/AML in compliance with SR 11-7/OCC 2011-12 and Model Risk Management (MRM) policy and procedures.
  • Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity, and performance accuracy, including back testing, sensitivity analysis, scenario analysis, benchmarking, and governance.
  • Provide effective and meaningful challenge during the following processes of model validation: Review of conceptual soundness; Review adequateness of modeling data; Materiality analysis of model assumptions and limitations; Review of model theoretical framework and design; Review of model performance.
  • Review of Model Documentation to ensure compliance with regulation/policy. Model documentation review should consist, amongst others, the following: Assessing the quality of model documentation; Reviewing documentation of developmental evidence; Review documentation of model governance; Review testing results in the model methodology document.
  • Design and execute a comprehensive and granular program for the following: Data Validation; Model theoretical framework and design; Assumptions and Limitations testing; Model

Conceptual soundness; Back-testing; Model Effectiveness Testing, Sensitivity Analysis; and Benchmarking for material portfolios.
  • Perform ongoing monitoring of all the models in line with the validation calendar and monitor the performance of those models through statistical tests. Evaluate the model adjustments, such as overlays and buffers, wherever applicable.

Ongoing Process Management, Enhancement and Updates
  • Contribute to enhancing current processes for model validation.
  • Manage activities related to model governance and assist VP model risk management in creating reports for the senior management, executive management, risk committees, and regulatory exams.
  • Manage and update model risk policies, standards, and procedures continually to ensure compliance with both management and regulatory requirements. Assist VP- MRM in the growth and maturation of the model risk management framework.
  • Use the MRM Model Validation tool to perform model validation activities. Assists in the annual model certification process and maintain status updates from the model owners. Maintain and update the model inventory. Maintain status updates and facilitate resolution/escalations of issues in a timely fashion.

Stakeholder Management
  • In collaboration with the VP of Model Risk Management, interfaces with key stakeholders throughout the validation process to discuss the justification and reasoning behind validation and review findings.
  • In collaboration with VP, Model Risk Management, determine whether the response and remediation plan received from model owners and users in response to a finding adequately addresses the findings. Follow up with model owners to ensure findings are remediated in a timely manner.

AI and Risk Management Framework.
  • Execute a robust model risk management framework in line with industry best practices and expectations. Assist VP-MRM is executing the AI and Machine Learning risk management framework.

Others
  • Assist in special ad-hoc projects

Requirements:
Master's degree in Applied Economics, Statistics, Mathematics, Data Science or related field plus 2 years of related work experience.
The position requires experience in all of the following:
  • 2 years of experience working with financial products and associated risk management.
  • 2 years of experience with quantitative modeling in the financial industry using financial and economic data.
  • 2 years of experience in data handling skills using advanced statistical and numerical methods.
  • 2 years of experience with MS Office applications such as Word, Excel and PowerPoint to generate high-quality management reports.
  • 2 years of experience working with a changing regulatory environment, such as the OCC2011-12 guidance.
  • 2 years of experience with SAS and Python for statistical modeling and data handling.
  • 2 years of experience with one or more of the following (R, SQL, MATLAB, VBA)

Compensation
The estimated salary for this role is $101,949.99, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

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