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Credit Risk Manager Jobs in Illinois (NOW HIRING)

Avant

Sr Analyst, Credit Risk - Loan

Chicago, IL

$66K - $88K/yr

Avant is looking for a Senior Credit Risk Analyst who will play a crucial role in evaluating and managing credit risk of the loan origination business. This role involves conducting in-depth analysis ...

Avant LLC

Sr Analyst, Credit Risk - Loan

Chicago, IL · On-site

$66K - $88K/yr

Avant is looking for a Senior Credit Risk Analyst who will play a crucial role in evaluating and managing credit risk of the loan origination business. This role involves conducting in-depth analysis ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

Ensure effective communication with management and key stakeholders from other functional areas ... Complete credit risk analytics, which includes but is not limited to loan origination strategy ...

Alliant

Senior Credit Risk Analyst

Chicago, IL · On-site

$84K - $131K/yr

Review and monitor credit risk for credit cards, and recommend/implement line management, pricing and authorization strategies. * Prepare data for third-party quarterly mortgage & consumer loan ...

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All JobsCredit Risk Manager JobsCredit Risk Manager Jobs in Illinois

Credit Risk Manager information

See Illinois salary details

$83.8K

$153.4K

$232.1K

How much do credit risk manager jobs pay per year?

As of Jun 14, 2026, the average yearly pay for credit risk manager in Illinois is $153,408.00, according to ZipRecruiter salary data. Most workers in this role earn between $129,400.00 and $172,000.00 per year, depending on experience, location, and employer.

How does a Credit Risk Manager typically collaborate with other departments to assess and mitigate risk?

A Credit Risk Manager frequently works with teams across the organization, such as underwriting, finance, and compliance, to assess borrower creditworthiness and ensure adherence to risk policies. Collaboration often involves developing risk models, reviewing loan portfolios, and communicating risk exposures to senior management. Working closely with these departments enables comprehensive risk assessments and the implementation of effective mitigation strategies. This cross-functional approach fosters a proactive risk culture and ensures that credit decisions align with both regulatory requirements and business objectives.

What Does a Credit Risk Manager Do?

A credit risk manager analyzes credit risk for banks and similar financial institutions. In this role, it’s your job to develop better credit risk policies and procedures to alleviate losses and maintain capital. Additional duties involve examining data, building financial models, creating performance reports, ensuring regulatory compliance, and formulating credit policy. This career requires at least a bachelor’s degree in business administration or a related field. Other important qualifications include excellent analytical, communication, and research skills. Most employers typically prefer candidates who have previous risk management experience.

What are Credit Risk Managers?

Credit Risk Managers are professionals responsible for assessing and managing the risk of financial losses that may arise from borrowers failing to repay loans or meet contractual obligations. They analyze financial data, credit reports, and market trends to determine the creditworthiness of individuals or businesses. Credit Risk Managers also develop policies and strategies to minimize potential losses and ensure compliance with regulatory standards. Their role is critical in maintaining the financial health and stability of banks, lending institutions, and other organizations involved in credit.

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

To thrive as a Credit Risk Manager, you need strong analytical abilities, deep knowledge of financial principles, and typically a degree in finance, accounting, or a related field. Familiarity with risk modeling software, credit scoring systems, and regulatory frameworks such as Basel III is essential. Strong communication, decision-making, and stakeholder management skills set outstanding professionals apart in this field. These skills are crucial for accurately assessing creditworthiness, minimizing financial losses, and ensuring regulatory compliance within financial institutions.

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

AspectCredit Risk ManagerCredit Analyst
CredentialsBachelor's degree, often certifications like CFA or credit risk certificationsBachelor's degree, finance or related field, sometimes certifications like CFA
Work EnvironmentOversees risk policies, manages teams, strategic planningAnalyzes credit data, assesses borrower risk, prepares reports
Industry UsageUsed in banking, financial services, lending institutionsCommon in banks, credit agencies, financial firms

The Credit Risk Manager focuses on overseeing and managing the overall credit risk policies and teams, while the Credit Analyst conducts detailed credit assessments of individual borrowers. Both roles require similar credentials and are integral to credit decision processes, but they differ in scope and responsibilities.

More about Credit Risk Manager jobs
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 Manager jobs in Illinois? For Credit Risk Manager jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Credit Risk Manager jobs in Illinois look for? The top searched job categories for Credit Risk Manager jobs in Illinois are:
What cities in Illinois are hiring for Credit Risk Manager jobs? Cities in Illinois with the most Credit Risk Manager job openings:
Credit Risk Manager jobs near you
Infographic showing various Credit Risk Manager job openings in Illinois as of June 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $153,408 per year, or $73.8 per hour.
Credit Risk Policy Management Senior Officer

Credit Risk Policy Management Senior Officer

Citigroup Inc

Schaumburg, IL

Other

Posted 8 days ago

Job description

Credit Risk Policy Management Senior Officer

Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you'll have the opportunity to grow your career, give back to your community and make a real impact.

Job Overview

The Credit Risk Policy Management Senior Officer position is a senior-level position responsible for leading activities including credit review, credit approvals and monitoring the portfolio to identify credit migration in coordination with the Risk Management team. The overall objective of this role is to manage Citi's portfolio exposure to client and counterparties globally. Responsibilities:

  • Lead key business projects in credit cards risk management across the customer lifecycle such as Acquisitions, CLI, CLD, Balance Transfer, and Loss Forecasting within the first line of defense of risk management.
  • Lead the implementation of initiatives related to policy governance and manage policy exceptions/approvals and entries
  • Focus on process improvement and creating efficiencies by ensuring an effective approach and partnership with Audit management and apply consumer risk function knowledge (e.g., scoring and segmentation techniques and their uses)
  • Conduct gap analyses and remediation work of any misalignments for credit policy changes
  • Ensure test and significant credit changes are adequately reported and tracked and Peak Ending Net Receivables (ENRs) are adequately approved and stored systemically
  • Provide regular feedback on all initiatives, tracking, reviews and reporting emerging trends and opportunities to senior management
  • Establish cross-functional partnerships and networks to contribute to and execute cross-functional and business initiatives, such as developing/maintaining infrastructure through partnership with the Centralized Risk Infrastructure team.
  • Maintain close working relationships with Cards Product team, Finance, Analytics, and Risk management.
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Qualifications
  • 10+ years of experience in credit risk management or equivalent training and experience preferably in the financial services industry
  • Experience in people management and leadership
  • Working knowledge of SAS or SQL programming and MS Office software proficiency required
  • Consistently demonstrate clear and concise written and verbal communication
  • Demonstrated ability to view data holistically and remain detail oriented to synthesize, prioritize and deliver results with urgency
  • Demonstrated interpersonal, organizational, analytical, presentation, facilitation, negotiation and strategic skills
  • Proven ability to obtain support and buy-in across a wide range of internal and external audiences
  • Demonstrated work ethic and influencing skills
Education
  • Bachelor's degree/University degree or equivalent experience
  • Master's degree preferred

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