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

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 Maywood, IL

Credit Risk Manager information

See Maywood, IL salary details

$84.8K

$155.2K

$234.8K

How much do credit risk manager jobs pay per year?

As of Aug 22, 2026, the average yearly pay for credit risk manager in Maywood, IL is $155,216.00, according to ZipRecruiter salary data. Most workers in this role earn between $130,900.00 and $174,000.00 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 cities near Maywood, IL are hiring for Credit Risk Manager jobs?

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

Credit Risk Manager jobs near you
Infographic showing various Credit Risk Manager job openings in Maywood, IL as of August 2026, with employment types broken down into 1% As Needed, 81% Full Time, 17% Part Time, and 1% Contract. Highlights an 93% Physical, 3% Hybrid, and 4% Remote job distribution, with an average salary of $155,216 per year, or $74.6 per hour.

Senior VP, Credit Risk & Portfolio Strategy (Chicago)

DEVON Islamic

Chicago, IL • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Devon Bank in Chicago, IL seeks a strategic Chief Credit Officer to lead credit risk management and policy development across the loan portfolio. You will direct the risk framework, oversee approvals, and ensure regulatory compliance while guiding a high-performing team.

The role requires strong leadership, deep expertise in credit risk analytics, and experience presenting to executives and the board. Join a community-focused bank offering competitive compensation and benefits.

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