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Credit Risk Manager Jobs in Illinois (NOW HIRING)

S&P Global

Senior Credit Product Specialist

Chicago, IL · On-site

The Senior Credit & Risk Solutions Product Specialist serves as a strategic subject matter expert and trusted advisor, partnering closely with Sales Leadership, Relationship Management and Product ...

New

CIBC

Credit Monitoring & Control Specialist

Chicago, IL · On-site

$70K - $85K/yr

This position is a key role in the Bank's Risk Management Department and reports to the Credit Monitoring & Control Team Lead. Review both traditional and complex credit approval documents (credit ...

CIBC

Credit Monitoring & Control Specialist

Chicago, IL · On-site

$70K - $85K/yr

This position is a key role in the Bank's Risk Management Department and reports to the Credit Monitoring & Control Team Lead. Review both traditional and complex credit approval documents (credit ...

US Bank

Impact Finance Officer

Chicago, IL

Credit Strategy is a dynamic team within Credit Risk Management focused on optimizing the identification, quantification and mitigation of credit risk. The team oversees critical second line of ...

Chase

Credit Review, Vice President

Chicago, IL · On-site

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 Aug 9, 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 is a credit risk manager?

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 August 2026, with employment types broken down into 90% Full Time, 9% Part Time, and 1% Contract. Highlights an 84% Physical, 3% Hybrid, and 13% Remote job distribution, with an average salary of $153,408 per year, or $73.8 per hour.

Risk Management - Credit Officer - Senior Associate

JP Morgan Chase

Chicago, IL • On-site

Full-time

Medical, Retirement

Re-posted 13 days ago

JPMorgan Chase & Co. rating

8.0

Company rating: 8.0 out of 10

Based on 493 frontline employees who took The Breakroom Quiz

73rd of 170 rated banks

Job description

Bring your expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgment 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. 

Job Summary: 

As a Credit Officer Senior Associate within the Credit Risk team, you will evaluate and identify risks and interpret data to support management in making well-informed credit decisions on multifamily commercial real estate loan requests. You will operate in a dynamic, high-volume, and fast-paced environment, analyzing loans ranging from $1 million to $25 million+. You will be part of a highly collaborative team that prioritizes learning, professional development, inclusivity, and mentorship. 

Job Responsibilities: 

  • Oversee all aspects of credit analysis on loans secured by multifamily and other types of commercial real estate 

  • Evaluate and manage risks in each transaction 

  • Build and maintain strong relationships with internal business stakeholders including sales, processing, closing, and legal 

  • Apply relevant policies, standards, procedures, and regulatory requirements to all credit analysis activities 

  • Apply data analysis techniques to interpret results and provide insights and recommendations to management 

  • Serve as a technical expert in addressing inquiries and resolving system-related issues specific to credit risk analysis and management tools 

  • Monitor industry trends and best practices in credit risk management to enhance decision-making and maintain a competitive edge 
     

Requiredqualifications,capabilities,andskills: 

  • Bachelor's degree in a business or finance concentration 

  • 3 years of experience in commercial real estate lending or 5 years of other banking or finance experience 

  • Thorough understanding of multifamily real estate property valuations and cash flow analysis 

  • Strong financial analysis skills, including evaluating property cash flows, property valuation, and personal financial statements 

  • Ability to manage competing priorities effectively in a collaborative, high volume environment while maintaining  attention to detail 

  • Excellent verbal and written communication and problem-solving skills 

  • Ability to prioritize, plan, and manage processes to complete credit analysis and other assignments as needed 

  • Familiarity with regional commercial real estate markets and municipal regulations 

  • Proficiency in Microsoft Word, Excel, and PowerPoint, with the ability to quickly adapt to proprietary systems 

Preferred qualifications, capabilities, and skills: 

  • Advanced degree in a related field or real estate coursework 

  • Experience as a loan underwriter in commercial real estate and agency lending (e.g. Fannie Mae or Freddie Mac) 

  • Experience with proprietary credit risk management tools. 

  • Experience with large language model tools 

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

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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