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Credit Risk Manager Jobs in Chicago, IL (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 ...

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 ...

Crowe LLP

Model Risk Manager

Chicago, IL · On-site

$106.60 - $217.90/hr

Credit risk model types (e.g., CECL, PD/LGD, Roll Rate, Scorecards, Stress Testing, etc.). * Other model types (e.g., Asset Liability Management, Pricing, Mortgage Servicing Rights, etc.). * Direct ...

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Credit Risk Manager information

See Chicago, IL salary details

$89.2K

$163.2K

$246.9K

How much do credit risk manager jobs pay per year?

As of Sep 5, 2026, the average yearly pay for credit risk manager in Chicago, IL is $163,213.00, according to ZipRecruiter salary data. Most workers in this role earn between $137,600.00 and $183,000.00 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

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For Credit Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:

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Cities near Chicago, IL with the most Credit Risk Manager job openings:

Credit Risk Manager jobs near you
Infographic showing various Credit Risk Manager job openings in Chicago, IL as of August 2026, with employment types broken down into 100% Full Time. Highlights an 67% In-person, and 33% Hybrid job distribution, with an average salary of $163,213 per year, or $78.5 per hour.

Risk Management - Leveraged Finance Credit Risk Vice President

JP Morgan Chase

Chicago, IL • On-site

Full-time

Medical, Retirement

Re-posted 27 days ago

JPMorgan Chase & Co. rating

7.9

Company rating: 7.9 out of 10

Based on 500 frontline employees who took The Breakroom Quiz

77th of 174 rated banks

Job description

Job Summary

Our credit risk professionals sit at the heart of the Investment Bank, serving as trusted advisors to the firm's most senior bankers and playing a decisive role in the transactions that matter most to our clients. In this role, you will bring intellectual rigor and sound judgment to some of the most complex leveraged finance decisions in the market, operating in a high-performing, collaborative environment where your analysis directly shapes outcomes. If you are passionate about credit, thrive under pressure, and want to build your career at one of the world's leading financial institutions, this is the opportunity for you.

As a Leveraged Finance Credit Risk Vice President within the Business Services credit risk team, you will identify the key risk factors associated with clients, transactions, and industry sub-sectors across an assigned portfolio, and develop and articulate a dynamic, forward-looking risk assessment of client companies, transactions, competitive threats, industry, and other factors. Working in close partnership with Investment Banking Coverage, Global Corporate Banking, Debt Capital Markets, and other product teams, you will review, structure, risk rate, and approve new lending activities and perform ongoing portfolio monitoring. You will report to a senior Credit Executive and be supported day-to-day by a dedicated team of Analysts and Associates, with an expectation to play an important role in developing junior talent.

Job responsibilities

  • Review and evaluate new credit origination requests, applying forward-looking risk assessment to develop appropriate credit structures and ensure all transactions are consistent with the firm's credit risk appetite
  • Lead client due diligence by attending client, bank, and other meetings to develop a thorough understanding of client companies, management teams, and industry sectors, and use financial models to incorporate the impact of forward-looking risk assessments on key value drivers
  • Apply corporate finance and accounting expertise to structure appropriate financing solutions and prepare and review credit approval materials, ensuring all credit risk policies are followed
  • Review and negotiate legal documentation to ensure terms are appropriate and consistent with credit approval
  • Ensure risk ratings are accurate and reflect a current forward-looking view of the client, while providing early identification and proactive management of deteriorating credits and other problem situations
  • Prepare and present quarterly financial snapshots of the Business Services portfolio, as well as annual portfolio review materials to senior management
  • Assist in training and developing Analysts and work closely with middle office and data teams to ensure accuracy of credit system data

Required qualifications, capabilities, and skills

  • BA/BS degree required
  • 5+ years of commercial/investment banking lending experience including extensive credit, structuring, and marketing
  • Solid understanding of financial products, corporate finance, financial modeling, and market dynamics
  • Advanced knowledge of financial statements and accounting
  • Experience with documentation related to credit agreements
  • Knowledge and experience of derivative products and documentation, including ISDA and CSA agreement

Preferred qualifications, capabilities, and skills

  • MBA or CFA preferred
  • Excellent communication skills, both verbal and written, with the ability to effectively present analysis and interact with key stakeholders
  • Capability to perform due diligence and lead negotiations with clients
  • Ability to perform well under pressure in a demanding environment while managing multiple tasks simultaneously
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

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.

Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.

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