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Director Credit Risk Jobs in Elgin, IL (NOW HIRING)

Adyen

Credit Risk Officer

Chicago, IL · On-site

Credit Risk Officer - Financial Products As a Credit Risk Analyst based in Chicago, you will be ... The ideal candidate combines strong problem-solving skills, clear and direct communication, and ...

US Bank

Audit Project Manager - Credit Risk

Chicago, IL · On-site

$107K - $140K/yr

While this position has no direct reports, it carries significant responsibility for independently completing audit engagements with minimal supervision, providing technical leadership on credit risk ...

Avant LLC

Associate, Data Science, Credit Risk

Chicago, IL · On-site

$95K - $130K/yr

... generation, optimize direct mail targeting, and drive key outcomes throughout the customer ... Design and build robust credit risk models, including application scorecards, behavioral models ...

Avant

Associate, Data Science, Credit Risk

Chicago, IL

$95K - $130K/yr

... generation, optimize direct mail targeting, and drive key outcomes throughout the customer ... Design and build robust credit risk models, including application scorecards, behavioral models ...

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Showing results 1-20

All JobsCredit Risk JobsDirector Credit Risk JobsDirector Credit Risk Jobs in Elgin, IL

Director Credit Risk information

See Elgin, IL salary details

$83.5K

$154.5K

$298K

How much do director credit risk jobs pay per year?

As of Jul 17, 2026, the average yearly pay for director credit risk in Elgin, IL is $154,519.00, according to ZipRecruiter salary data. Most workers in this role earn between $103,300.00 and $185,800.00 per year, depending on experience, location, and employer.

What are some common challenges faced by a Director of Credit Risk and how can they be addressed?

A Director of Credit Risk often faces challenges such as balancing risk appetite with business growth goals, staying ahead of evolving regulatory requirements, and managing credit exposures in volatile markets. To address these, it's essential to foster strong collaboration with business units, maintain robust credit risk frameworks, and leverage data analytics for proactive decision-making. Continuous professional development and close communication with compliance and audit teams also help ensure that credit policies remain effective and up-to-date.

What are the key skills and qualifications needed to thrive as a Director of Credit Risk, and why are they important?

To thrive as a Director of Credit Risk, you need deep expertise in credit analysis, risk management, and financial modeling, usually supported by a degree in finance, economics, or a related field. Familiarity with risk assessment software, credit scoring systems, and regulatory compliance tools, along with certifications like CFA or FRM, is highly valued. Strong leadership, strategic thinking, and communication skills help drive cross-functional collaboration and effective risk mitigation. These competencies are crucial for making informed credit decisions that protect the organization's financial health and comply with regulatory standards.

What does a Director of Credit Risk do?

A Director of Credit Risk is responsible for overseeing an organization’s credit risk management strategies and policies. They analyze credit data, assess potential risks in lending or credit activities, and work to minimize losses related to bad debts. This role often involves leading a team, setting risk tolerance levels, and ensuring compliance with regulatory requirements. Directors of Credit Risk also collaborate with other departments to align risk management with the company's overall business objectives.

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

AspectDirector Credit RiskCredit Analyst
CredentialsBachelor's/Master's in Finance, Economics, or related; often requires experience in credit risk managementBachelor's degree in Finance, Economics, or related; entry-level to mid-level roles
Work EnvironmentStrategic, leadership-focused, overseeing credit risk policies and teamsAnalytical, research-focused, assessing individual credit applications and risk
Employer & Industry UsageFinancial institutions, banks, credit agenciesBanks, lending companies, credit bureaus

The main difference is that a Director Credit Risk leads and develops credit risk strategies at a high level, while a Credit Analyst focuses on evaluating individual credit applications and assessing risk at a more operational level. The Director role involves strategic oversight, whereas the Credit Analyst role is more analytical and detail-oriented.

What are popular job titles related to Director Credit Risk jobs in Elgin, IL? For Director Credit Risk jobs in Elgin, IL, the most frequently searched job titles are:
What job categories do people searching Director Credit Risk jobs in Elgin, IL look for? The top searched job categories for Director Credit Risk jobs in Elgin, IL are:
What cities near Elgin, IL are hiring for Director Credit Risk jobs? Cities near Elgin, IL with the most Director Credit Risk job openings:
Director Credit Risk jobs near you
Infographic showing various Director Credit Risk job openings in Elgin, IL as of July 2026, with employment types broken down into 83% Full Time, and 17% Part Time. Highlights an 94% Physical, 1% Hybrid, and 5% Remote job distribution, with an average salary of $154,519 per year, or $74.3 per hour.
Senior Director, Commercial Risk Review

Senior Director, Commercial Risk Review

Capital One

Riverwoods, IL

Full-time

Posted 9 days ago

Capital One rating

7.8

Company rating: 7.8 out of 10

Based on 143 frontline employees who took The Breakroom Quiz

76th of 149 rated banks

Job description

Senior Director, Commercial Risk Review

Capital One's Credit Review organization is a third line of defense function that is responsible for providing an independent assessment of the Company's credit quality, key and emerging risks, and credit process execution to the Risk Committee of the Board of Directors and other stakeholders.

Commercial Credit Review is seeking a Senior Director who will lead a team of reviewers responsible for providing an independent assessment of assigned portfolios. The commercial portfolio includes, but is not limited to: Energy, Middle Market Banking, Commercial Real Estate, Healthcare, Financial Institutions, Municipal Finance, Counterparty Credit, Capital Markets, Leveraged Lending and Special Assets. The Senior Director will lead efforts towards the execution of the annual Credit Review plan and work cross-functionally across Credit Review teams in the process. This individual will also be responsible for building and maintaining working relationships with line of business management and key associates within Risk Management.

Responsibilities:

  • Leading and coaching a team of senior credit reviewers in providing assurance coverage of individual portfolios within the Commercial Bank

  • Overseeing the comprehensive review and continuous monitoring execution of reviewable entities and key risk areas, including:

  • Analyzing portfolio composition to identify risks and provide an opinion on portfolio quality

  • Facilitating the identification of gaps in policy, processes, and risk rating models

  • Identifying key and emerging risks

  • Reviewing transactional testing to assess the appropriateness of client selection, quality of underwriting, effectiveness of borrower monitoring and accuracy of risk ratings

  • Providing supervisory oversight to Targeted Reviews

  • Overseeing the completion of quarterly Business Assessment Reports

  • Communicating results to executive level management, regulators and stakeholders

  • Building and maintaining effective working relationships across all three lines of defense

  • Acting as an approachable advisor to business heads and key lenders by developing continuous and effective communication channels for all stakeholders.

  • Providing business leadership and partnering skills to help drive the organization towards critical decisions and deliverable results.

  • Having a strategic voice for the overall Commercial Credit Review function

  • Part of the extended leadership team for the entire Credit Review organization

  • Supporting the development of the Credit Review Annual Plan and quarterly plans

  • Continuously reviewing and improving the credit review process, identifying opportunities to streamline existing operations and enhance efficiency

  • Ensuring the team follows Credit Review guidelines, policies and best practices

  • Conducting talent management, including completion of performance reviews, setting clear goals and development of team members

Basic Qualifications:

  • Bachelor's degree or military experience

  • At least 10 years of transactional credit experience in underwriting, workout, risk management, credit review or regulatory

Preferred Qualifications:

  • Master's degree

  • Certified Financial Analyst (CFA) OR Certified Public Accountant (CPA)

  • Ability to support conclusions through fact-based analysis and ability to influence senior leaders; strong written and verbal communication skills

  • Excellent credit analysis and financial analysis skills

  • Strong organizational skills

  • Ability to manage multiple complex tasks while delivering high quality results

  • Leadership experience and strong leadership skills

  • Demonstrated experience in identifying, assessing and reporting on existing and emerging risks

  • Experience with direction applicability to Credit Review responsibility

  • Ability to navigate across a large organization and work with cross-functional teams

At this time, Capital One will not sponsor a new candidate for employment authorization for this position.


The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Charlotte, NC: $245,100 - $279,800 for Sr. Director, Credit Review


Chicago, IL: $245,100 - $279,800 for Sr. Director, Credit Review


McLean, VA: $269,600 - $307,700 for Sr. Director, Credit Review


New York, NY: $294,100 - $335,700 for Sr. Director, Credit Review


Plano, TX: $245,100 - $279,800 for Sr. Director, Credit Review


Richmond, VA: $245,100 - $279,800 for Sr. Director, Credit Review


Riverwoods, IL: $245,100 - $279,800 for Sr. Director, Credit Review





Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.

Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

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