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

Avant LLC

Associate, Data Science, Credit Risk

Chicago, IL · On-site

$95K - $130K/yr

Design and build robust credit risk models, including application scorecards, behavioral models ... Conduct feature engineering, select appropriate features and develop robust models using various ...

Avant

Associate, Data Science, Credit Risk

Chicago, IL

$95K - $130K/yr

Design and build robust credit risk models, including application scorecards, behavioral models ... Conduct feature engineering, select appropriate features and develop robust models using various ...

US Bank

Credit Risk Python Architect

Chicago, IL · On-site

$111K - $131K/yr

... Risk Administration credit models, analytics, and reporting ... We are seeking a Python developer / solutions architect to drive forward our next-gen model ...

Adyen

Senior Credit Underwriter

Chicago, IL · On-site +1

$125K - $170K/yr

Senior Credit Risk Analyst - Financial Products As a Senior Credit Risk Analyst based in Chicago ... risk appetite and strategic objectives. * Partner with Product and Engineering to advance the ...

Adyen

Senior Credit Underwriter

Chicago, IL · On-site

$125K - $170K/yr

Senior Credit Risk Analyst - Financial Products As a Senior Credit Risk Analyst based in Chicago ... risk appetite and strategic objectives. * Partner with Product and Engineering to advance the ...

NinjaHoldings

Sr. Product Manager - Credit Risk

Chicago, IL · On-site +1

$120K - $180K/yr

In addition to the Risk team, they will work directly with many departments such as Marketing, Engineering, Compliance, and Finance to ensure all are aligned in the pursuit of the key goals. The ...

NinjaHoldings

Sr. Product Manager - Credit Risk

Chicago, IL · On-site +1

$130K - $172K/yr

In addition to the Risk team, they will work directly with many departments such as Marketing, Engineering, Compliance, and Finance to ensure all are aligned in the pursuit of the key goals. The ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Market & Credit Risk * Design and oversee margin model validation, stress testing, and back-testing ... with engineering, product, and commercial teams to embed risk thinking into business decisions.

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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
Manager, Markets Credit

Manager, Markets Credit

Federal Home Loan Bank of Chicago

Chicago, IL • Hybrid

Other

Medical, Dental, Vision, Retirement, PTO

Posted 6 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

Who we are:
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
What it's like to work here:
At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided with an allocation of remote days to use as needed throughout the year.
What you'll do:
The Manager of Markets Credit will be responsible for overseeing credit risk management of the Bank's Mortgage Partnership Finance (MPF) and investment portfolio. This role leads a team of credit risk analysts in developing and maintaining mortgage credit models, performing scenario analysis and stress testing, and monitoring credit risk trends across the bank's portfolio and the broader market. This position also collaborates closely with internal stakeholders, regulators and vendors to support product initiatives, ensure regulatory compliance, drive model enhancements and enable process innovation. The ideal candidate is a strategic thinker with strong analytical and modeling ability, and proven leadership experience.
How you'll make an impact:
  • Strengthen the Bank's Credit Risk Management by leading the modeling and monitoring of risks across the MPF and Investment portfolios.
  • Enable strategic product and investment decisions by partnering with cross-functional teams to deliver high-impact analytics that support MPF and investment initiatives.
  • Drive operational excellence and innovation by leveraging advanced data analytics, automation, and emerging technologies.
What you can expect:
  • Oversee the analysis and monitoring of credit risk trends and exposures associated with mortgage loan and investment portfolios.
  • Lead the development and ongoing maintenance of credit risk models - such as prepayment, default, and loss models - including assumption setting, model calibration and performance monitoring.
  • Design and enhance analytical models and risk management frameworks to assess the adequacy of credit enhancement.
  • Perform back-testing and benchmarking to evaluate model performance and make recommendations on modeling changes.
  • Direct scenario analysis and stress testing to assess portfolio risks under different macroeconomic scenarios.
  • Work with validators, auditors, and regulators to improve model accuracy and support regulatory compliance.
  • Drive process improvements by leveraging advanced data management, automation and programing tools.
  • Build strong and trustworthy partnerships with internal teams (business, operation, finance, legal, model risk, etc.) and external stakeholders (regulators, vendors, etc.)
What you'll bring:
  • Bachelor's degree in Mathematics, Finance, Economics, Statistics, Computer Science, or related fields; Master's level degree desired.
  • CFA and FRM candidates preferred.
  • 7+ years of work experience in finance, data analytics or modeling.
  • 4+ years of people managing experience.
  • Experience with mortgage underwriting and servicing desired.
  • Experience with building predictive statistical models and developing algorithmic solutions desired.
  • Proficiency in SQL Server Management Studio, Python and R.
  • Experience with Business Intelligence tools including Tableau and Alteryx.
  • Experience with mortgage industry and fixed income investment products desired.
  • Strong expertise in credit risk modeling, including statistical analysis, predictive models, and performance monitoring.
  • Proficiency in data analysis and business intelligence tools to effectively assess and communicate risk insights.
  • Familiarity with model governance, regulatory compliance, and risk management frameworks.
  • Ability to lead and develop high-performing analytical teams, including coaching, prioritization, and performance management.
  • Strong critical thinking skills and ability to synthesize complex analytical findings into clear and actionable recommendations.
  • Excellent problem-solving, analytical, verbal/written communication skills.
  • Effective leader with a collaborative approach and strong stakeholder management abilities.

The perks:
At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Step into a brighter future with us.
Salary Range:
$125,825.00 - $221,275.00
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

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