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Director Credit Risk Management Jobs in Chicago, IL

RWE

Credit Risk Associate

Chicago, IL · On-site

$73K - $100K/yr

Utilize credit risk systems to input, track and manage credit exposures in line with policies and procedures * Collaborate with Legal and Front/Back Office teams to review credit requirements and ...

RWE

Credit Risk Associate

Chicago, IL · On-site

$73K - $100K/yr

Utilize credit risk systems to input, track and manage credit exposures in line with policies and procedures * Collaborate with Legal and Front/Back Office teams to review credit requirements and ...

US Bank

Impact Finance Officer

Chicago, IL · On-site

Credit Strategy is a dynamic team within Credit Risk Management focused on optimizing the ... This includes directing, monitoring, and coordinating risk management projects for assigned ...

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 ...

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 ...

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 ...

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All JobsCredit Risk Management JobsDirector Credit Risk Management JobsDirector Credit Risk Management Jobs in Chicago, IL

Director Credit Risk Management information

See Chicago, IL salary details

$55.6K

$147.5K

$267.8K

How much do director credit risk management jobs pay per year?

As of Aug 7, 2026, the average yearly pay for director credit risk management in Chicago, IL is $147,501.00, according to ZipRecruiter salary data. Most workers in this role earn between $108,700.00 and $172,500.00 per year, depending on experience, location, and employer.

What is the difference between Director Credit Risk Management vs Credit Risk Analyst?

AspectDirector Credit Risk ManagementCredit Risk Analyst
Required CredentialsBachelor's degree, often advanced degrees, certifications like CFA or FRMBachelor's degree, certifications like CFA or FRM are common but less mandatory
Work EnvironmentStrategic leadership, overseeing teams, high-level decision makingData analysis, risk assessment, supporting senior staff
Employer & Industry UsageFinancial institutions, banks, large corporationsFinancial institutions, banks, credit agencies

The main difference between a Director Credit Risk Management and a Credit Risk Analyst lies in their scope and responsibilities. The director focuses on strategic oversight and leadership, while the analyst handles detailed risk assessments. Both roles require relevant certifications and are integral to credit risk management in financial institutions.

What are common challenges faced by a director of credit risk management, and how are they typically addressed?

A Director of Credit Risk Management often faces the challenge of balancing the organization's growth objectives with prudent risk controls. This involves staying ahead of changing market conditions, regulatory requirements, and emerging risks such as economic downturns or shifts in customer behavior. Effective leaders in this role address these challenges by fostering close collaboration with cross-functional teams such as underwriting, analytics, and compliance, and by implementing robust risk assessment frameworks. They also play a key role in developing and mentoring their teams to stay adaptable and informed.

What are the key skills and qualifications needed to thrive as a director of credit risk management, and why are they important?

To thrive as a Director of Credit Risk Management, you need deep expertise in credit analysis, risk assessment, portfolio management, and typically a degree in finance, economics, or a related field. Proficiency with risk modeling software, credit scoring systems, and relevant regulatory frameworks (such as Basel III) is essential, along with certifications like FRM or CFA being advantageous. Strong leadership, strategic thinking, and effective communication skills help you guide teams and influence key stakeholders. These capabilities are crucial for making informed decisions that protect the organization's financial health and support sustainable growth.

What does a director of credit risk management do?

A Director of Credit Risk Management oversees an organization’s credit risk policies, procedures, and strategies to minimize potential losses related to lending or credit activities. This role involves analyzing credit data, assessing financial risks, developing risk mitigation strategies, and ensuring compliance with regulatory standards. Directors also lead teams of risk analysts, collaborate with other departments, and report to executive leadership on credit risk exposure and performance. Their main goal is to balance business growth with sound risk management practices.
What are the most commonly searched types of Credit Risk Management jobs in Chicago, IL? The most popular types of Credit Risk Management jobs in Chicago, IL are:
What are popular job titles related to Director Credit Risk Management jobs in Chicago, IL? For Director Credit Risk Management jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Director Credit Risk Management jobs in Chicago, IL look for? The top searched job categories for Director Credit Risk Management jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Director Credit Risk Management jobs? Cities near Chicago, IL with the most Director Credit Risk Management job openings:
Director Credit Risk Management jobs near you
Infographic showing various Director Credit Risk Management job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 13% Part Time, and 3% Contract. Highlights an 87% Physical, 3% Hybrid, and 10% Remote job distribution, with an average salary of $147,501 per year, or $70.9 per hour.

Senior Credit Risk Analyst

Alliant Credit Union

Chicago, IL • Hybrid

$84K - $131K/yr

Full-time, Part-time

Re-posted yesterday

Job description

In this hybrid role based at our Chicago Headquarters, you will develop and review credit policies and strategies as well as data and analytical frameworks for loan origination and loss forecasting. Review relevant data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Perform evaluation, implementation and monitoring of third-party and in-house scoring solutions. Perform model and strategy testing and assist with audit/regulatory requests. Work cross-functionally with other teams such as Advanced Analytics, Lending, Loan Servicing, Marketing, Finance, and Data Service teams, preparing underwriting and account management presentations to management for review and implementation.

Essential Responsibilities

  • Analyze origination risk factors and recommend/implement improvements in areas such as underwriting criteria, lending policies and standards, and loan product pricing to increase loan volumes within the risk appetite.
  • 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 portfolio performance analysis.
  • Provide support and rule recommendations for loan origination system implementation and maintenance.
  • Provide data and analytics support to assess risk with respect to future new and enhanced lending products as well as potential loan trading transactions.
  • Assess analytics including but not limited to economic capital analysis, credit loss modeling and mitigation, CECL implementation.
  • Query the data warehouse and other databases with tools such as SAP Business Objects / Microsoft SQL Server Management Studio to extract, summarize, and save relevant data.
  • Drive improvements by utilizing statistical techniques in test set-up to more accurately assess effectiveness of proposed risk strategies.
  • Work with other teams such as Advanced Analytics to design and build predictive models in tools such as Python/R/SAS.
  • Evaluate, implement, and monitor third-party scoring solutions.
  • Prepare supporting information and present findings to management.
  • Generate periodic reports for audit and regulatory compliance and assist with ad hoc requests.
  • Help formulate and revise credit policies and procedures to address new regulations.

Education & Years of Experience

  • Minimum- 4 Year Bachelors Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Preferred - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Minimum - 3 Years Experience in credit risk analytics within financial services

In Lieu of Education

  • 5 Years Experience in credit risk analytics within financial services

Compensation & Benefits:

Typical hiring range:‏‏‎ ‎ $84,200.00 to $131,000.00‎ Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.

‎Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:

  • Annual performance bonus
  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.