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Credit Risk Associate Jobs in Illinois (NOW HIRING)

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Credit Risk Associate information

See Illinois salary details

$48.5K

$105.9K

$177.3K

How much do credit risk associate jobs pay per year?

As of Aug 16, 2026, the average yearly pay for credit risk associate in Illinois is $105,928.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,700.00 and $137,600.00 per year, depending on experience, location, and employer.

What skills and qualifications are needed to thrive as a credit risk associate?

To thrive as a Credit Risk Associate, you need strong analytical skills, attention to detail, and a solid understanding of financial statements, typically backed by a degree in finance, economics, or a related field. Familiarity with risk assessment software, credit modeling tools, and proficiency in Excel or similar data analysis programs are essential technical requirements. Strong communication, problem-solving abilities, and sound judgment help you effectively collaborate with stakeholders and make informed recommendations. These skills and qualities are crucial for accurately assessing creditworthiness and minimizing financial risk for the organization.

What does a credit risk associate do?

A Credit Risk Associate is responsible for assessing and managing the risk that a borrower may default on a loan or credit obligation. They analyze financial statements, credit reports, and market data to evaluate the creditworthiness of individuals or companies. Their work helps financial institutions make informed lending decisions, set appropriate credit limits, and comply with regulatory requirements. Credit Risk Associates also monitor existing credit exposures and may recommend strategies to mitigate potential losses.

What is the difference between Credit Risk Associate vs Credit Analyst?

AspectCredit Risk AssociateCredit Analyst
Required CredentialsBachelor's degree, relevant certifications often preferredBachelor's degree, certifications like CFA or credit-specific courses beneficial
Work EnvironmentFinancial institutions, banks, credit agenciesBanks, investment firms, credit rating agencies
Employer & Industry UsageCommonly used in risk management teamsUsed in credit assessment and lending decisions
Comparison Search IntentUnderstanding risk roles in creditAnalyzing creditworthiness of clients

Both roles involve assessing credit-related information, but Credit Risk Associates focus on managing overall risk exposure, while Credit Analysts evaluate individual creditworthiness. The roles often overlap in skills and industry settings, making them closely related but distinct in scope.

How does a credit risk associate typically collaborate with other teams within a financial institution?

Credit Risk Associates work closely with various departments, including front-office lending teams, compliance, and portfolio management. They regularly communicate with relationship managers to gather client information, and partner with data analysts to assess credit models and risk metrics. This collaborative environment ensures that credit decisions are well-informed and compliant with internal policies. Being proactive and communicative is key, as the role often requires balancing risk assessment with business growth objectives.

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

The most popular types of Credit Risk jobs in Illinois are:

What are popular job titles related to Credit Risk Associate jobs in Illinois?

For Credit Risk Associate jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Credit Risk Associate jobs in Illinois look for?

The top searched job categories for Credit Risk Associate jobs in Illinois are:

What cities in Illinois are hiring for Credit Risk Associate jobs?

Cities in Illinois with the most Credit Risk Associate job openings:

Credit Risk Associate jobs near you
Infographic showing various Credit Risk Associate job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 71% Full Time, 26% Part Time, 1% Temporary, and 1% Contract. Highlights an 97% Physical, 1% Hybrid, and 2% Remote job distribution, with an average salary of $105,928 per year, or $50.9 per hour.

Senior Credit Portfolio Manager - Global Family Office (GFO)

Northern Trust

Chicago, IL • On-site

$74K - $126K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 16 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.
Sr. Credit Portfolio Manager
Job Description:
This is an office-based position and for the effective performance of this role, the duties and responsibilities must be carried out onsite.
The Credit Portfolio Manager will be responsible for managing credit product risk and profitability for a portfolio of credit clients and monitoring loan performance to ensure that loan quality adheres to guidelines. Assists Relationship Managers in marketing credit to clients. Researches and analyzes pertinent financial statements and investment holdings. Evaluates the liquidity and performance of Family Office holding and legal structures and creditworthiness. Prepares and presents written credit memoranda for credit approval.
Key responsibilities include:
  • Manages credit product risk and profitability for a portfolio of credit clients and monitors loan performance to ensure that loan quality adheres to guidelines.
  • Supports Relationship Managers through financial/credit analysis and credit underwriting.
  • Researches and analyzes pertinent financial statements and investment holdings/portfolios. Evaluates investment holdings/portfolios and personal financial statements for liquidity, collateral support, repayment sources and creditworthiness. Prepares and presents written credit memoranda for credit approval.
  • Coordinates preparation and execution of legal documentation in conjunction with Associate Banking Advisor and Relationship Manager and provides periodic updates of client credit quality to Credit Policy.
  • Collects all necessary client prepared information and completes client financial statement spreadsheets, projections of client's financial condition and Relationship Returns Review (RRR)
  • Implements appropriate pricing and covenants on credit facilities in conjunction with the Relationship Manager and monitors covenant compliance, document and periodic deficiencies and short margin reports.
  • On an on-going basis, monitors client loan portfolios to ensure that loan quality adheres to guidelines.
  • Travels to client locations as required and participates in virtual client meetings.
  • Trains, mentors and guides Rotational Development Program (RDP) Partners and less experienced CPMs.
The successful candidate will benefit from having:
  • In-depth knowledge of finance, accounting and investments usually acquired through formal education or experience is required to analyze and evaluate financial statements.
  • Knowledge of applicable industry laws and regulations, usually acquired through prior experience, is required to review credit risk.
  • Analytical and communication skills are required to determine credit risk and to prepare credit presentations.
  • Personal computer skills are required to prepare financial spreadsheets.
Experience:
  • 5-7 years in financial and/or credit analysis
Salary Range:
$74,200 - 126,200 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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