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

Inizio Partners

Credit Risk Analyst

Chicago, IL · On-site

Master's Degree in Statistics, Economics, Engineering, Finance, or related quantitative field * 8+ ... credit risk management, or internal audit credit risk coverage function at a large financial ...

Alliant

Senior Credit Risk Analyst

Chicago, IL · On-site

$84K - $131K/yr

Preferred - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related * Minimum - 3 Years Experience in credit risk analytics within financial ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

Minimum - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related * Minimum - 6 Years of Analytics, Credit Risk or related In Lieu of ...

PayPal

Manager, Venmo BNPL Credit Risk Strategy

Chicago, IL · On-site

$160K - $238K/yr

They will be responsible for: - Credit risk strategies including approve/decline, exposure limits ... engineering and product partners to define requirements and implement policies. - They will work ...

FHLBank Chicago

Manager, Markets Credit

Chicago, IL · Hybrid

This role leads a team of credit risk analysts in developing and maintaining mortgage credit models ... Drive process improvements by leveraging advanced data management, automation and programing tools.

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Credit Risk Developer information

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

AspectCredit Risk DeveloperCredit Analyst
Required CredentialsBachelor's in Finance, Economics, or related field; often some programming knowledgeBachelor's in Finance, Economics, or related field; strong analytical skills
Work EnvironmentDevelops risk models, works with data and software toolsAnalyzes credit data, assesses borrower risk, prepares reports
Employer & Industry UsageFinancial institutions, banks, credit agenciesBanks, lending institutions, credit bureaus

While both roles focus on credit, the Credit Risk Developer primarily builds and maintains risk models using programming and data analysis, whereas the Credit Analyst evaluates individual creditworthiness and prepares risk assessments. Both roles are essential in credit decision processes but differ in technical focus and daily tasks.

What are Credit Risk Developers?

Credit Risk Developers are specialized software developers who design, build, and maintain systems that assess and manage financial risk for lending institutions or investment firms. They create algorithms and tools that analyze credit data, model potential losses, and ensure compliance with regulatory requirements. Their work supports decision-making processes related to lending, underwriting, and portfolio management. Typically, they collaborate closely with risk analysts, data scientists, and financial professionals to develop solutions that improve risk assessment accuracy and efficiency.

How does a Credit Risk Developer typically collaborate with risk analysts and business stakeholders?

A Credit Risk Developer often works closely with risk analysts to understand credit risk models and translate their requirements into robust software solutions. Regular meetings with business stakeholders are common to gather feedback, ensure alignment with regulatory standards, and adapt to changing business needs. This role requires strong communication skills to bridge the gap between technical and non-technical teams, ensuring that risk assessment tools are both accurate and user-friendly.

What are the key skills and qualifications needed to thrive as a Credit Risk Developer, and why are they important?

To thrive as a Credit Risk Developer, you need strong programming skills (such as Python, Java, or C++), a solid background in mathematics or finance, and experience with credit risk modeling. Familiarity with risk management systems, statistical analysis tools, and relevant certifications (like FRM or CFA) is often required. Exceptional problem-solving abilities, collaboration, and clear communication set outstanding candidates apart. These skills ensure accurate development and maintenance of credit risk models, enabling effective risk mitigation and regulatory compliance in financial institutions.
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Credit Risk Developer jobs near you

Credit Risk Analyst

Inizio Partners

Chicago, IL • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Credit Risk Analyst

Chicago, Illinois, United States

About the Job Credit Risk Analyst

Role: Consumer Credit Risk Analyst

This position within Corporate Risk Management is responsible for the oversight of consumer credit policy through effective planning and execution of ongoing and periodic Consumer Credit Reviews across the life cycle of consumer lending products. Primarily, the incumbent is responsible for providing an independent view on asset quality and the key consumer credit risks of the firm's consumer lending practices.

The resource will have a strong knowledge of credit risk management processes, credit strategy development process and regulatory expectations towards safety and soundness. This individual will have skills and experience to lead Consumer Credit Reviews, provide oversight on review activities and deliver the review results including identification of issues and overseeing the reporting of the review results to relevant stakeholders and credit governance committees.

Responsibilities will also include evaluating and monitoring consumer credit risk appetite, tolerance, and thresholds. Also defines the process for monitoring the performance of the consumer credit portfolio and performs reviews of credit risk strategies, while evaluating trade-offs among key business metrics, such as credit losses, receivables, and profit. This will necessitate identifying, designing, and implementing complex business analyses in support of Consumer Credit Reviews and business strategy.

Responsibilities

  • Develops Consumer Credit Review plan using a risk-based approach and executes the Consumer Credit Reviews across all consumer lending products covering credit cards, personal loans, and home equity loans), including performing a risk assessment on the overall portfolio. Collaborates with credit strategy teams to mitigate any identified credit risk concerns. Reports finding through the appropriate, established governance processes.
  • Interacts with business partners, senior management, governance committees, and regulators to present (both orally and written) Consumer Credit Review assessment results and analytic findings in a clear, complete, and concise manner.
  • Develops, manages, and maintains reporting and oversight of consumer credit risk appetite, tolerance, and thresholds. This includes the awareness of consumer credit strategies and the implications of changes in strategy to the profitability of the enterprise.
  • Develops and maintains credit-risk oversight processes, policies, and procedures in accordance with the overall Corporate Risk Management framework and system.
  • Implements and maintains independent credit risk portfolio reporting across all consumer lending products.

Minimum Qualifications

  • Master's Degree in Statistics, Economics, Engineering, Finance, or related quantitative field
  • 8+ years of experience in Statistics, Economics, Engineering, related quantitative field, equivalent internship, or research experience.
  • In lieu of a degree, 15+ years of experience in credit card, or related financial services industry

Preferred Qualifications

  • Ph.D. in Statistics, Economics, Engineering, Finance, or related quantitative field.
  • 10+ years of experience in Statistics, Economics, Engineering, related quantitative field, equivalent internship, or research experience.
  • 10 + years of experience in credit review, credit risk management, or internal audit credit risk coverage function at a large financial institution.
  • Knowledge and use of statistical packages such as SQL, SAS, Python, or other tools to mine, extract complex consumer and transaction level data on big data and/or cloud computing platforms.

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