Credit Risk Associate Jobs in Chicago, IL (NOW HIRING)

Senior Associate, Governance, Valuations, & Innovation

Capital One's Governance, Valuations, & Innovation (GV&I) Team is a second line of defense function housed within the Credit Risk & Analytics (CR&A) Division. CR&A is responsible for Risk Governance, Risk Appetite, Credit Risk Policy, and Assurance Exam Management activities for the Commercial Bank. The team's contribution is critical in providing a foundation for sound risk management practices, complying with internal policies and regulations, and exhibiting the overall culture of Capital One.

Role Description

GV&I is seeking a process-driven Senior Associate to manage day-to-day risk operations, governance workflows, and credit risk frameworks. The individual will collaborate with partners across the Lines of Business, Product, Technology, Operations, and Risk to drive operational excellence, maintain a well-managed control environment, and optimize data-driven risk reporting processes.

This opportunity provides for significant professional growth and exposure to senior management. The ideal candidate must be able to effectively communicate and influence partners across multiple functional areas and levels of the organization. Strong data and analytical skills, attention to detail, and the ability to adapt in a dynamic environment are essential to succeeding in this role.

Specific responsibilities include, but are not limited to:

• Serving as the primary Business Area Contact (BAC) to ensure seamless execution of the credit policy lifecycle

• Identifying process improvement opportunities and leveraging AI tools to implement workflow optimizations that enhance team efficiency and operational excellence

• Governing the day-to-day administration of Credit Approval and Credit Exception frameworks

• Overseeing the the end-to-end Policy Adherence process, including recurring reporting routines

• Validating and maintaining the inventory of Risks, Requirements, and Controls which are owned and/or applicable to CR&A

• User Acceptance Testing of enhancements to supporting credit risk technology

• Drafting release materials and developing communications related to change initiatives

• Leveraging data to provide insights that enable GV&I to make data-based decisions

• Supporting ad-hoc initiatives for broader GV&I frameworks and workstreams

Desired Skills:

• Self-starter with a background in risk management and/or process management

• Understanding of commercial banking activities and the three lines of defense framework

• Strong data and analytical competencies, specifically around data reconciliation and reporting

• Experience or strong interest in leveraging AI tools to optimize day-to-day workflows, reporting routines, and process efficiencies

• Effective verbal and written communication skills, including the ability to prepare presentation materials

• Aptitude for synthesizing complex issues into a clear and concise summary

• Strong organizational skills, keen attention to detail, and process integrity

• Proactive, execution-focused, and results-oriented

• Independent problem-solver with ability to navigate ambiguity

• Ability to establish credibility, trust, and support within all levels of the organization

• Willing to learn, adapts easily to change, and confident with diverse thinking

• Knowledge and experience using Google Workspace (e.g., Sheets, Slides, Docs)

Basic Qualifications:

• Bachelor's degree or military experience

• At least 2 years of experience in risk management or process management at a financial institution or consultancy firm

Preferred Qualifications:

• MBA or Master's degree

• 3+ years of experience in credit risk administration, risk management, or process optimization

• 2+ years of experience working with SQL databases

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Chicago, IL: $87,700 - $100,100 for Sr. Risk Associate

McLean, VA: $96,500 - $110,100 for Sr. Risk Associate

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).