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Contract Probabilistic Risk Analysis Engineer Jobs in Illinois

LHH US

Contract Paralegal/Contract Attorney

Chicago, IL · On-site +1

$30 - $35/hr

Perform risk analysis on subscription agreements and maintain the subscription agreement database. * Manage contracts through Agiloft contract management software. * Monitor contract trackers, add ...

LHH US

Contract Paralegal/Contract Attorney

Chicago, IL · On-site +1

$30 - $35/hr

Perform risk analysis on subscription agreements and maintain the subscription agreement database. * Manage contracts through Agiloft contract management software. * Monitor contract trackers, add ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · 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 ...

Medinext Global LLC

Manufacturing Quality Engineer

Pontiac, IL · On-site

$69K - $89K/yr

Monitor and continuously improve manufacturing processes by analyzing data and conducting risk analysis * Collaborate with manufacturing engineers and operations team to enhance process capability ...

New

Moffitt

ENTERPRISE CONTRACT ANALYST

Chicago, IL · On-site

$71K - $86K/yr

... analysis, and makes recommendations to management related to enterprise contract initiatives Develop and maintain complex financial models evaluating cost, reimbursement impacts, and risk across ...

Wood Plc

Water Resources Engineer - FEMA

Chicago, IL · Remote

$81K - $111K/yr

... risk analysis, mapping, and related services on projects throughout the Mid-Atlantic, Midwest, and Northeast U.S. regions. This position will be an integral member supporting contracts with the ...

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Contract Probabilistic Risk Analysis Engineer information

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 key skills and qualifications needed to thrive as a Contract Probabilistic Risk Analysis Engineer, and why are they important?

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 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 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:
Contract Probabilistic Risk Analysis Engineer jobs near you
Sr. Risk Analyst, Credit

Sr. Risk Analyst, Credit

Federal Home Loan Bank of Chicago

Chicago, IL • On-site, Remote

$110K - $115K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 8 days ago

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

      Responsibilities

      • Operate and maintain credit risk models for mortgage loan portfolios
      • Lead the development and implementation of alternative credit risk strategies
      • Build algorithmic solutions and design strategies for model assumption setting and performance monitoring
      • Conduct scenario analysis and stress testing to assess portfolio risks under macroeconomic and climate risk scenarios
      • Research risk management frameworks to assess environmental and regulatory risk drivers on mortgage portfolios in accordance with regulatory requirements and industry best practices and report to senior management
      • Perform credit reviews for member institutions based on financial performance and credit worthiness
      • Collaborate with validators, auditors and regulators to improve model accuracy and ensure regulatory compliance
      • Optimize business processes through the use of data management and programing tools
      • Research, diagnoses and identify solutions to issues on data anomalies and portfolio performance and create dashboards for senior management and risk committees
      • Support business on MPF product design with business analytics

      Position Requirements

      • Master's degree in Mathematics, Finance, Quantitative Finance or related field and 2 years of related experience, or, a Bachelor's degree in Mathematics, Finance, Quantitative Finance or related field and 4 years of related experience
      • Any amount of experience operating and maintaining credit risk models for mortgage loan portfolios
      • Any amount of experience building algorithmic solutions and design strategies for model assumption setting and performance monitoring
      • Any amount of experience conducting scenario analysis and stress testing to assess portfolio risks under macroeconomic and climate risk scenarios
      • Any amount of experience conducting business analysis using statistics methodology and tools of aggregated data from databases via SQL

      Must live within normal commuting distance of worksite. Remote work allowed up to 50 days per year.

      Salary range $110,150 to $115,000

      Salary Range:

      $90,400.00 - $150,700.00

      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

      Apply