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Credit Risk Manager Jobs in Chicago, IL (NOW HIRING)

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 JobsCredit Risk Manager JobsCredit Risk Manager Jobs in Chicago, IL

Credit Risk Manager information

See Chicago, IL salary details

$89.1K

$163.1K

$246.7K

How much do credit risk manager jobs pay per year?

As of Jun 12, 2026, the average yearly pay for credit risk manager in Chicago, IL is $163,085.00, according to ZipRecruiter salary data. Most workers in this role earn between $137,500.00 and $182,800.00 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 Chicago, IL? The most popular types of Credit Risk jobs in Chicago, IL are:
What are popular job titles related to Credit Risk Manager jobs in Chicago, IL? For Credit Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Credit Risk Manager jobs in Chicago, IL look for? The top searched job categories for Credit Risk Manager jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Credit Risk Manager jobs? Cities near Chicago, IL with the most Credit Risk Manager job openings:
Credit Risk Manager jobs near you
Sr Analyst, Credit Risk - Loan

Sr Analyst, Credit Risk - Loan

Avant LLC

Chicago, IL • On-site

$66K - $88K/yr

Full-time

Medical, Dental, Vision, Retirement

Posted 6 days ago

Job description

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 and providing insights to support risk management strategies and drive growth. You will work closely with the team and cross-functional partners to drive data-driven decisions that balance prudent risk management with aggressive growth in a dynamic FinTech environment. This is a high-impact role with visibility to senior leadership and direct influence on our credit risk framework.
What you'll do at Avant:
  • Lead the end-to-end strategy change from hypothesis and proposal to implementation and performance tracking
  • Perform comprehensive credit risk analysis for various portfolios.
  • Develop and maintain detailed credit risk models and tools.
  • Conduct advanced data analysis to evaluate risk and identify trends.
  • Prepare and present detailed risk reports and presentations for senior management.
  • Collaborate with cross-functional teams to develop risk mitigation strategies.
  • Build business cases for new credit risk initiatives to drive growth.
  • Monitor and analyze economic and industry trends affecting credit risk.

Why you're at fit at Avant:
  • Bachelor's Degree in Finance, Economics, Math, Engineering, or related field.
  • 2+ years of experience in credit risk analysis, preferably in the credit card or personal loan industry.
  • Strong analytical and quantitative skills.
  • Proficiency in SQL and Python.
  • Excellent communication and presentation skills.
  • Ability to manage multiple projects and meet deadlines.

This role is based on our downtown Chicago Office, located in the Merchandise Mart. We highly value collaboration and our hybrid schedule (M, T, Th in-office) enables flexibility to balance work and individual priorities.
Compensation Range:
The base salary range for this job is USD $66,000 - USD $88,000/ Year
Employees new to Avant typically come in below the midpoint of the pay range. The compensation range is based on the level outlined in the job posting, and compensation decisions are dependent on each applicant's experience, skills and abilities.
[If an outstanding applicant's experience and skill level is above or below the qualifications outlined in the job posting, we reserve the right to make an offer at a different level than the one listed in this job posting, which may have a different compensation range.]
This role is eligible for additional incentives, including an annual bonus. These rewards are allocated based on level, impact and performance in the role.
Our benefits include:
  • Choice of great Medical, Dental, and Vision Insurance Plan options
  • 401(k) match
  • Flexible Time Off
  • Flexible Work Environment - (i.e. Mon/Tues/Thurs in-person)
  • Generous Paid Parental Leave, Adoption Assistance and Post-parental leave ramp-up program
  • Lunch Allowance (Fooda) and In-office Snacks
  • Summer Fridays
  • Fun In-Office and Virtual Social Events
  • And who doesn't love the swag

Check out our Avant Blog!
We believe that a diverse set of backgrounds and experiences helps us create the most innovative solutions for our customers. We invite you to apply to our positions even if you do not meet 100% of the qualifications listed in the description. If you're passionate about our mission and aligned to our values, we hope you'll come contribute to our awesome culture.
Why Avant is the place for you:
At Avant, we believe our values make a difference:
Authenticity. We show up to work as our whole selves and make sure others can too.
Collaboration. We can only succeed when we do so as a team.
Problem-Solving. The harder the problem, the more satisfying the solution.
Customer. We are all owners of the customer experience.
Initiative. Plan. Adapt. Get Sh!t Done.
We believe that great ideas come from anyone and anywhere, that everyone is an owner who drives change, and that we have more fun when we work together. We're problem solvers who love collaborating with intelligent and highly-motivated people to reshape the face of digital banking. Avant offers terrific perks and benefits, fun social events with employees who actually like hanging out together, and a flexible growth environment where trying your hand at new projects and being the active owner of your career path is encouraged and supported.
To learn more about how Avant collects and uses your personal information, please see the Avant Privacy Policy.

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