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Contract Probabilistic Risk Analysis Engineer Jobs in Illinois

Principal Risk Engineer

Round Lake, IL ยท On-site

$112K - $154K/yr

Your role at Baxter The Risk Engineer is responsible for leading and executing risk management ... Experience with risk analysis tools (e.g., FMEA, FTA, hazard analysis), bug tracking tools ...

Credit Risk Analyst

Chicago, IL ยท On-site

$100 - $130/hr

At Adyen, everything we do is engineered for ambition. For our teams, we create an environment with ... Credit Risk Analyst - Financial Products As a Credit Risk Analyst based in Chicago, you will be ...

Credit Risk Analyst

Chicago, IL ยท Hybrid

$100K - $130K/yr

At Adyen, everything we do is engineered for ambition. For our teams, we create an environment with ... Credit Risk Analyst - Financial Products As a Credit Risk Analyst based in Chicago, you will be ...

Participate in various Risk Management processes, including contracts review, vendor outreach and ... Strong analytical, financial, and problem-solving skills. * Ability to interpret and apply CPS ...

Proficiency in Python for data analysis, risk analytics, or automation * Working knowledge of SQL is preferred * Ability to communicate complex quantitative concepts to traders, engineers, and ...

Principal Credit Risk Analyst

Chicago, IL ยท On-site

$119K - $204K/yr

Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis. * Provide ... Minimum - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering ...

Senior Financial Risk Analyst

Chicago, IL ยท On-site

$125 - $170/hr

At Adyen, everything we do is engineered for ambition. For our teams, we create an environment with ... Senior Financial Risk Analyst As a Senior Financial Risk Analyst located in Chicago, you will be ...

Showing results 21-40

Contract Probabilistic Risk Analysis Engineer information

What is a contract probabilistic risk analysis engineer?

A Contract Probabilistic Risk Analysis Engineer is a professional hired on a contractual basis to assess and quantify risks in engineering projects using probabilistic methods. They use statistical models and simulations to predict the likelihood and potential impact of various risks, helping organizations make informed decisions. These engineers often work in industries like energy, aerospace, or construction, and their analysis supports project safety, reliability, and cost-effectiveness. Their expertise helps organizations mitigate uncertainties and optimize project outcomes.

What are the key skills and qualifications needed to thrive as a contract probabilistic risk analysis engineer?

To thrive as a Contract Probabilistic Risk Analysis Engineer, you need a solid background in engineering, mathematics, and statistics, often supported by a relevant degree and experience with risk analysis methodologies. Familiarity with technical tools such as Monte Carlo simulation software, fault tree analysis programs, and industry-specific risk assessment platforms is typically required. Strong analytical thinking, attention to detail, and effective communication skills help you interpret complex data and present findings to stakeholders. These competencies are crucial for accurately identifying and mitigating risks in projects, ensuring safety, compliance, and project success.

What are some common challenges faced by contract probabilistic risk analysis engineers, and how can they be addressed?

Contract Probabilistic Risk Analysis Engineers often face the challenge of quickly integrating into new teams and projects, requiring rapid understanding of industry-specific risk models and standards. Balancing diverse stakeholder expectations, tight deadlines, and incomplete data sets can add complexity to analysis tasks. To address these challenges, effective communication, adaptability, and strong analytical skills are essential. Leveraging standard risk analysis frameworks and maintaining clear documentation can also help ensure consistency and accuracy in deliverables.

What is the difference between Contract Probabilistic Risk Analysis Engineer vs Contract Reliability Engineer?

AspectContract Probabilistic Risk Analysis EngineerContract Reliability Engineer
CredentialsTypically requires engineering degrees, certifications in risk analysis or reliability (e.g., ASQ, IRCA)Requires engineering degrees, certifications in reliability or maintenance (e.g., CRE, RCM)
Work EnvironmentFocuses on risk modeling, probabilistic assessments, often in industries like energy, aerospaceFocuses on system reliability, maintenance strategies, often in manufacturing, utilities
Industry UsageCommon in nuclear, aerospace, oil & gas sectorsCommon in manufacturing, power plants, industrial facilities

The Contract Probabilistic Risk Analysis Engineer specializes in quantitative risk modeling using probabilistic methods, while the Contract Reliability Engineer emphasizes system reliability and maintenance strategies. Both roles require engineering backgrounds but focus on different aspects of safety and system performance within similar industries.

What are the most commonly searched types of Probabilistic Risk Analysis Engineer jobs in Illinois?

The most popular types of Probabilistic Risk Analysis Engineer jobs in Illinois are:

What are popular job titles related to Contract Probabilistic Risk Analysis Engineer jobs in Illinois?

For Contract Probabilistic Risk Analysis Engineer jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Contract Probabilistic Risk Analysis Engineer jobs in Illinois look for?

The top searched job categories for Contract Probabilistic Risk Analysis Engineer jobs in Illinois are:

What cities in Illinois are hiring for Contract Probabilistic Risk Analysis Engineer jobs?

Cities in Illinois with the most Contract Probabilistic Risk Analysis Engineer job openings:

Principal Risk Engineer

Baxter

Round Lake, IL โ€ข On-site

$112K - $154K/yr

Full-time

Medical, Dental, Life, Retirement, PTO

Re-posted 18 days ago


Job description

This is whereyour work makes a difference.

At Baxter, we believe every person-regardless of who they are or where they are from-deserves a chance to live a healthy life. It was our founding belief in 1931 and continues to be our guiding principle. We are redefining healthcare delivery to make a greater impact today, tomorrow, and beyond.

Our Baxter colleagues are united by our Mission to Save and Sustain Lives. Together, our community is driven by a culture of courage, trust, and collaboration. Every individual is empowered to take ownership and make a meaningful impact. We strive for efficient and effective operations, and we hold each other accountable for delivering exceptional results.

Here, you will find more than just a job-you will find purpose and pride.

Your role at Baxter

The Risk Engineer is responsible for leading and executing risk management activities for infusion pump systems through the product lifecycle. This role ensures patient and user safety by identifying hazards, assessing risks, and implementing effective mitigation strategies in compliance with corporate procedures and industry standards (e.g., ISO 14971) by working with engineering, quality, regulatory, clinical, manufacturing and service teams to integrate risk management into product design, development, and post-market activities in support of ongoing product safety.

What you will be doing:

  • Lead risk management activities in accordance with ISO 14971 and corporate procedures related to risk management plans, hazard analyses, FMEAs, fault tree analyses, and risk reports
  • Identify hazards associated with infusion pumps, including mechanical, electrical, software, usability, and cybersecurity-related risks
  • Collaborate with cross-functional teams during design and development to ensure risk controls are incorporated and verified and/or validated
  • Ensure traceability between hazards, hazardous situations, risk controls, and verification activities
  • Perform robust risk impact assessments of issue records, change controls, complaint trends and NCR/SNCs and other scenarios using appropriate severity and probability models and ensure risks are reduced to acceptable levels or provide decision support to management or post-market monitoring.
  • Update risk management files based on design changes and post-market information and ensure ongoing product safety
  • Facilitate risk reviews and risk management team meetings
  • Train and mentor team members on risk management principles and tools

What you will bring:

  • Bachelor's degree in Engineering (Biomedical, Mechanical, Electrical, Systems Engineering, Computer Science or related field)
  • 5+ years (senior-level)experience in medical device risk management or product development
  • Working knowledge of ISO 14971 and related standards
  • Experience with risk analysis tools (e.g., FMEA, FTA, hazard analysis), bug tracking tools, requirements management tools (e.g. DOORS) and traceability, and documentation.
  • Excellent analytical, problem-solving, and communication skills
  • Ability to manage multiple priorities and project schedules

Baxter is committed to supporting the needs for flexibility in the workplace. We do so through our flexible workplace policy which includes a required minimum number of days a week onsite. This policy provides the benefits of connecting and collaborating in-person in support of our Mission. The flexible workplace policy is subject to local laws and legal requirements.At its discretion, Baxter may decide to adjust, suspend, or discontinue as business needs change.

We understand compensation is an important factor as you consider the next step in your career. At Baxter, we are committed to equitable pay for all employees, and we strive to be more transparent with our pay practices. The estimated base salary for this position is $112,000 to $154,000 annually. The estimated range is meant to reflect an anticipated salary range for the position. We may pay more or less than of the anticipated range based upon market data and other factors, all of which are subject to change. Individual pay is based on upon location, skills and expertise, experience, and other relevant factors. This position may also be eligible for discretionary bonuses. For questions about this, our pay philosophy, and available benefits, please speak to the recruiter if you decide to apply and are selected for an interview.

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time.

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US Benefits at Baxter (except for Puerto Rico)

This is where your well-being matters. Baxter offers comprehensive compensation and benefits packages for eligible roles. Our health and well-being benefits include medical and dental coverage that start on day one, as well as insurance coverage for basic life, accident, short-term and long-term disability, and business travel accident insurance. Financial and retirement benefits include the Employee Stock Purchase Plan (ESPP), with the ability to purchase company stock at a discount, and the 401(k) Retirement Savings Plan (RSP), with options for employee contributions and company matching. We also offer Flexible Spending Accounts, educational assistance programs, and time-off benefits such as paid holidays, paid time off ranging from 20 to 35 days based on length of service, family and medical leaves of absence, and paid parental leave. Additional benefits include commuting benefits, the Employee Discount Program, the Employee Assistance Program (EAP), and childcare benefits. Join us and enjoy the competitive compensation and benefits we offer to our employees.For additional information regarding Baxter US Benefits, please speak with your recruiter or visit our Benefits site: Benefits | Baxter

Equal Employment Opportunity

Baxter is an equal opportunity employer. Baxter evaluates qualified applicants without regard to race, color, religion, gender, national origin, age, sexual orientation, gender identity or expression, protected veteran status, disability/handicap status or any other legally protected characteristic.

Know Your Rights: Workplace Discrimination is Illegal

Reasonable Accommodations
Baxter is committed to working with and providing reasonable accommodations to individuals with disabilities globally. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the application or interview process, please click on the link here and let us know the nature of your request along with your contact information.

Recruitment Fraud Notice
Baxter has discovered incidents of employment scams, where fraudulent parties pose as Baxter employees, recruiters, or other agents, and engage with online job seekers in an attempt to steal personal and/or financial information. To learn how you can protect yourself, review our Recruitment Fraud Notice.