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Default Manager Jobs in Chicago, IL (NOW HIRING)

Cedar Cares, Inc

Chief Risk Officer

Chicago, IL · On-site

$259.25 - $320.25/hr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Conduct default management planning and testing with clearing members and exchange liquidity providers to ensure adequate resources to manage possible defaults. * Lead Credit and Margin Committees ...

Wintrust Financial

Default Loan Specialist

Rosemont, IL · On-site

$42K - $55K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

Default Loan Specialist Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust ...

New

Wintrust

Default Loan Specialist

Rosemont, IL · On-site

$42K - $55K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

Wintrust provides community and commercial banking, specialty finance and wealth management ... Promote from within culture The Default Loan Specialist is primarily responsible for managing and ...

Wintrust

Default Loan Specialist

Rosemont, IL · On-site

$42K - $55K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

Wintrust provides community and commercial banking, specialty finance and wealth management ... Promote from within culture The Default Loan Specialist is primarily responsible for managing and ...

Wintrust

Default Loan Specialist

Rosemont, IL · On-site

$42K - $55K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

Wintrust provides community and commercial banking, specialty finance and wealth management ... Promote from within culture The Default Loan Specialist is primarily responsible for managing and ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Manage counterparty credit risk assessment and ongoing monitoring for clearing members. * Develop position limits, concentration risk policies, and large trader surveillance. * Build default fund ...

ElectronX

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

Manage counterparty credit risk assessment and ongoing monitoring for clearing members. * Develop position limits, concentration risk policies, and large trader surveillance. * Build default fund ...

Cboe Global Markets

Chief Risk Officer

Chicago, IL · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Conduct default management planning and testing in collaboration with clearing members and exchange liquidity providers; ensure the Clearinghouse maintains adequate resources to manage possible ...

Cboe Global Markets

Chief Risk Officer

Chicago, IL · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Conduct default management planning and testing in collaboration with clearing members and exchange liquidity providers; ensure the Clearinghouse maintains adequate resources to manage possible ...

Wedbush

Vice President, Market Risk Manager

Chicago, IL · On-site

$125K - $200K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

... Exchange Default Management Systems Perform other tasks and duties as assigned and required Experience and Skills Bachelor's Degree from an accredited university, preferably in Business ...

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Showing results 1-20

All JobsDefault JobsDefault Manager JobsDefault Manager Jobs in Chicago, IL

Default Manager information

See Chicago, IL salary details

$25.2K

$61.3K

$119.5K

How much do default manager jobs pay per year?

As of Aug 13, 2026, the average yearly pay for default manager in Chicago, IL is $61,319.00, according to ZipRecruiter salary data. Most workers in this role earn between $43,300.00 and $70,600.00 per year, depending on experience, location, and employer.

What is the difference between Default Manager vs Loan Manager?

AspectDefault ManagerLoan Manager
Required CredentialsTypically a bachelor's degree in finance, banking, or related field; certifications like CAMS or AML are commonSimilar credentials, often with a focus on lending, credit analysis, and financial regulations
Work EnvironmentBanking institutions, financial services firms, or loan servicing companiesCommercial banks, mortgage companies, or credit unions
Employer & Industry UsageUsed in banking and financial sectors managing defaulted loans or credit riskUsed in lending institutions overseeing loan portfolios and credit approval processes

The Default Manager and Loan Manager roles share similar educational backgrounds and work environments within financial institutions. While the Default Manager focuses on managing defaulted loans and mitigating losses, the Loan Manager handles the origination, approval, and management of new loans. Both positions require financial expertise and are integral to the lending process, but their primary responsibilities differ in the loan lifecycle.

What are the most commonly searched types of Default jobs in Chicago, IL? The most popular types of Default jobs in Chicago, IL are:
What are popular job titles related to Default Manager jobs in Chicago, IL? For Default Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Default Manager jobs in Chicago, IL look for? The top searched job categories for Default Manager jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Default Manager jobs? Cities near Chicago, IL with the most Default Manager job openings:
Default Manager jobs near you

Mortgage Default Oversight Manager

Artius Solutions

Chicago, IL • On-site

$100K - $180K/yr

Full-time

Re-posted 3 days ago

Job description

Mortgage Default Oversight Manager

Location: Chicago, IL (Hybrid)
Employment Type: Full-Time

Overview

A financial services organization, is seeking a Mortgage Default Oversight Manager to oversee default management and loss mitigation governance across a portfolio of mortgage assets.

This role is responsible for monitoring mortgage delinquency performance, establishing default servicing standards, and coordinating with servicing partners, vendors, and investors to ensure consistent and compliant servicing outcomes. The position provides portfolio-level oversight of loss mitigation strategies, foreclosure activity, and claims management while supporting risk management and operational improvements.

The ideal candidate has deep experience in mortgage servicing and default operations, along with strong analytical, governance, and stakeholder management capabilities.

Key ResponsibilitiesDefault Oversight & Portfolio Governance

  • Oversee the full mortgage delinquency lifecycle including early-stage delinquency, loss mitigation, foreclosure, REO, and final resolution.

  • Establish and maintain default servicing standards and escalation procedures.

  • Monitor servicing partner performance and ensure adherence to program requirements and servicing guidelines.

  • Provide portfolio-level oversight to ensure consistent outcomes, regulatory compliance, and operational effectiveness.

Loss Mitigation Strategy

  • Develop and maintain loss mitigation frameworks, including modification strategies, repayment options, and eligibility guidelines.

  • Implement standardized decision frameworks and escalation paths for loss mitigation activities.

  • Evaluate portfolio performance metrics including cure rates, redefault trends, and loss severity.

Claims Governance

  • Oversee processes related to default-related claims submitted to investors or counterparties.

  • Establish documentation standards and internal controls for claims management.

  • Investigate claim exceptions and coordinate issue resolution across servicing partners and vendors.

Late-Stage Default Management

  • Monitor foreclosure timelines and servicing performance.

  • Oversee real estate owned (REO) processes and property disposition readiness.

  • Ensure default servicing activities align with investor requirements and servicing standards.

Leadership & Stakeholder Coordination

  • Lead and mentor team members responsible for portfolio oversight and default governance.

  • Serve as a key liaison with servicing partners, vendors, and internal stakeholders.

  • Coordinate with analytics, risk, and operations teams to improve portfolio oversight and decision-making.

Risk Management & Process Improvement

  • Identify emerging risks within the mortgage servicing portfolio.

  • Use data analysis to identify performance gaps and improvement opportunities.

  • Support audits, internal reviews, and regulatory examinations related to servicing and default governance.

  • Recommend process improvements and operational enhancements to improve scalability and efficiency.

QualificationsEducation

  • Bachelor’s degree in Business, Finance, Accounting, Real Estate, or a related field, or equivalent experience

Experience

  • 7+ years of mortgage servicing experience, including exposure to:

    • Default operations

    • Loss mitigation programs

    • Foreclosure and REO processes

    • Claims management

  • 1–3 years of leadership experience overseeing teams or major operational processes

Mortgage & Servicing Knowledge

  • Strong understanding of mortgage servicing practices and default lifecycle management

  • Experience designing or governing loss mitigation strategies and decision frameworks

  • Familiarity with investor servicing guidelines and mortgage servicing standards

Skills & Capabilities

  • Strong analytical and risk assessment capabilities

  • Experience evaluating portfolio performance and servicing trends

  • Ability to translate regulatory and servicing requirements into scalable operational frameworks

  • Strong stakeholder management and communication skills

  • Ability to manage performance through oversight and governance rather than direct execution

Additional Skills

  • Strong organizational and problem-solving abilities

  • Ability to manage multiple initiatives simultaneously

  • Experience supporting audit and compliance processes is beneficial

.