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Credit Risk Manager Jobs in Illinois (NOW HIRING)

Huntington

Credit Review Team Leader Sr

Chicago, IL · On-site +1

$125K - $255K/yr

As part of the respective credit risk focus area, develop and manage a credit review program which assesses the management framework in selecting, underwriting, and administering the direct and ...

New

Huntington

Credit Review Team Leader Sr

Chicago, IL · On-site +1

$125K - $255K/yr

As part of the respective credit risk focus area, develop and manage a credit review program which assesses the management framework in selecting, underwriting, and administering the direct and ...

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 ...

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 ...

DRiV

Insurance Risk Manager

Skokie, IL · On-site

Partner with Treasury on financial risk management initiatives, including counterparty credit risk, banking risk assessments, and treasury operational risk. * Support Treasury governance initiatives ...

DRiV

Insurance Risk Manager

Skokie, IL · Hybrid

Partner with Treasury on financial risk management initiatives, including counterparty credit risk, banking risk assessments, and treasury operational risk. * Support Treasury governance initiatives ...

IMC

Experienced Risk Manager

Chicago, IL

IMC is looking for an Experienced Risk Manager to join our Chicago Risk team, focusing primarily on ... Our team has a broad mandate across market, credit, capital, and operational risk. Rather than ...

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All JobsCredit Risk 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 Aug 21, 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.

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 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 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.

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 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.

How much do credit risk managers make in the US?

Credit risk managers in the US typically earn a median annual salary of around $85,000 to $125,000, with experienced professionals and those in senior roles earning higher. Salaries can vary based on industry, location, and level of experience, and certifications like CFA or FRM can enhance earning potential.
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 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $153,408 per year, or $73.8 per hour.

Senior Credit Risk Policy Management Officer

Jobtailor

Wilmington, IL • On-site

$140 - $210/hr

Other

Posted 3 days ago

New

Job description

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.
Requirements
  • 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
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