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Credit Risk Manager Jobs in Illinois (NOW HIRING)

FHLBank Chicago

Manager, Markets Credit

Chicago, IL · Hybrid

Manager of Markets Credit At the Federal Home Loan Bank of Chicago, employees come first - that ... This role leads a team of credit risk analysts in developing and maintaining mortgage credit models ...

Chase

Credit Review - Vice President

Chicago, IL

Partner with Credit Risk Management stakeholders to establish strong working relationships while maintaining independence. * Ensure consistent application of firm wide Risk Policy as well as Credit ...

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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.
Risk Management - Real Estate Credit Risk Associate

Risk Management - Real Estate Credit Risk Associate

JPMorgan Chase & Co.

Chicago, IL • On-site

$125K - $140K/yr

Full-time

Medical, Retirement

Posted 6 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 469 frontline employees who took The Breakroom Quiz

46th of 141 rated banks

Job description

Job Description
Bring your expertise to JPMorganChase. As part of Risk Management and Compliance, you are at the center of keeping JPMorganChase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.
As a Real Estate Credit Risk Associate on the Commercial and Investment Bank - Real Estate Credit Risk Team, you will work closely with top product bankers and other risk professionals. Your primary tasks will encompass independent risk assessment and credit approval of loans and lending-related commitments. You will work a client base of leading real estate, lodging, gaming, homebuilding and real estate service companies. The portfolio of credit products we manage, and monitor includes corporate resource traditional credit products (revolving credit facilities and term loans), real estate asset level financings, whole loan repos, risk retention, derivatives and treasury lines.
Job Responsibilities
  • Conduct credit analysis and facilitate senior credit officer approval of lending and trading related transactions, including operating exposures, individually or as part of a deal team
  • Create written credit approval documents, which include the spreading and presentation of historical financial statement information and the related financial analysis, as well as projections of future cash flows for large corporate borrowers
  • Develop a well-informed and forward-looking view of the business, financial and risks associated with a company and sector
  • Manage and monitor a portfolio of client credit exposures, across industry classes, on an ongoing basis
  • Participate in negotiating, finalizing, and executing documentation for loans and derivatives
  • Review and assign risk ratings and maintains updated credit research on their portfolio of clients
  • Actively manage existing CRE portfolio and participate in portfolio management / surveillance projects

Required qualifications, capabilities and skills
  • Bachelor's degree in Finance, Accounting, Business, Economics or similar discipline
  • Minimum 3 years of professional work experience in corporate/commercial credit, investment banking or relevant experience within financial services or rating agency
  • Academic training in the principals of accounting, corporate finance, capital markets products and macro economics
  • Strong financial analysis and modeling skills
  • Exceptional communication (verbal and written) and inter-personal skills
  • Proficiency in Microsoft Office Suite, Excel, PowerPoint and Word

Preferred qualifications, capabilities and skills
  • Prior experience with major corporate bank credit team and or credit rating agency
  • Prior experience around Real estate or Corporate credit

About Us
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About the Team
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

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