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

HALO

Director of Financial Operations

Chicago, IL · On-site

$110K - $150K/yr

The Director serves as the overall operational leader and partners closely with Financial ... Key Responsibilities Credit and Risk Mitigation Oversight Lead the organization's credit strategy ...

Rothera

Director, Enterprise Risk Management

Chicago, IL · On-site

$175K - $200K/yr

... credit, liquidity, market, operational, and systemic risks. Reporting directly to the Chief Risk ... Director will partner closely with executive leadership, and will help with Rothera's continued ...

CFS

Credit Manager

Chicago, IL · On-site

High-visibility role with direct interaction across Finance, Sales, and Operations * Opportunity to ... Meaningful impact on business success through risk management and working capital optimization Key ...

CFS

Credit Manager

Chicago, IL · On-site

High-visibility role with direct interaction across Finance, Sales, and Operations * Opportunity to ... Meaningful impact on business success through risk management and working capital optimization Key ...

Scotsman Ice Systems

Credit Manager

Vernon Hills, IL · On-site

$90K - $100K/yr

Job Title Credit Manager Function Finance Reports to Director of Revenue Accounting Supervises ... Through proactive risk monitoring, timely reconciliations, precise tax compliance, and adherence to ...

Scotsman Ice

Credit Manager

Vernon Hills, IL

Job Title Credit Manager Function Finance Reports to Director of Revenue Accounting Supervises ... Through proactive risk monitoring, timely reconciliations, precise tax compliance, and adherence to ...

HALO

Director of Financial Operations

Chicago, IL

$110K - $150K/yr

The Director serves as the overall operational leader and partners closely with Financial ... Key Responsibilities Credit and Risk Mitigation Oversight Lead the organization's credit strategy ...

HALO

Director of Financial Operations

Chicago, IL · On-site

$110K - $150K/yr

The Director serves as the overall operational leader and partners closely with Financial ... Key Responsibilities Credit and Risk Mitigation Oversight Lead the organization's credit strategy ...

Apex Informatics

Business Systems Analyst

Chicago, IL · On-site

This resource needs to come out of Large Trader Reporting (TPR) industry and ideally has direct experience with Credit Risk products (understands the business concepts like reporting in basil, watch ...

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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 18, 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 Vice President, Credit Officer

SmartBiz Bank

Northbrook, IL • On-site

$190K - $210K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 8 days ago

Job description

This position is based in Northbrook, IL, and requires the ability to be in the office.
Overview:
SmartBiz Bank offers a broad range of business banking solutions to small businesses across the U.S. - solutions built specifically to serve the dynamic needs of entrepreneurs and foster the growth of the small business community. SmartBiz Bank's commitment to transparency and personalized customer service offers an unparalleled banking experience, ensuring small businesses have the financial services they need to grow and thrive. Headquartered in Northbrook, Illinois, with an additional office in Austin, Texas, we are proud to serve both our local and national small business communities.
Position Overview:
The Senior Vice President, Credit Officer is responsible for providing senior-level credit leadership and oversight for the Bank's commercial lending portfolio. Reporting to the Chief Lending Officer, this position partners closely with lending, credit administration, and executive management to ensure sound underwriting practices, effective portfolio management, and compliance with regulatory requirements and Bank credit policies.
The SVP, Credit Officer serves as a key resource to the lending team by providing independent credit analysis, approving loans within delegated authority, identifying emerging portfolio risks, and promoting a strong credit culture that supports prudent growth.
Primary Responsibilities:
  • Oversee credit underwriting and administration for the Bank's commercial loan portfolio, including commercial real estate (CRE), commercial and industrial (C&I), and SBA 7(a) lending.
  • Evaluate and approve credit requests within delegated lending authority and provide recommendations on larger or more complex relationships requiring higher-level approval.
  • Partner with relationship managers to structure credit facilities that balance customer needs with prudent risk management.
  • Monitor the loan portfolio for emerging credit trends, concentrations, policy exceptions, and potential problem credits.
  • Assist in maintaining and recommending updates to the Bank's Credit Policy, underwriting guidelines, and credit procedures.
  • Support the administration of the Bank's National SBA small loan credit box and underwriting standards to maintain acceptable credit quality and loss performance.
  • Prepare and present weekly, monthly, and quarterly credit reports for executive management and Credit Committee.
  • Participate in Management Credit Committee meetings and provide sound credit recommendations.
  • Serve as a primary contact for internal loan review, external auditors, and regulatory examinations.
  • Collaborate with legal counsel, and lending officers regarding criticized assets, loan workouts, and legal matters.
  • Review annual credit reviews and renewals.
  • Mentor and develop Credit Analysts and other credit personnel.
  • Identify opportunities to improve credit processes through technology and workflow enhancements.

Skills & Qualifications
  • Strong commercial credit underwriting and portfolio management experience.
  • Knowledge of OCC regulations and credit risk management.
  • Experience with SBA lending preferred.
  • Strong analytical, communication, leadership, and organizational skills.
  • Proficiency with Microsoft Office, Abrigo, Fiserv, Google Workspace, and commercial banking systems.
  • Willingness to attend customer meetings and work additional hours when necessary.

Supervisory Responsibilities
  • Lead approximately four direct reports, including Credit Analysts.
  • Support employee development, performance management, and succession planning.

Education & Experience
  • Bachelor's degree in Business, Finance, Accounting, Economics, or related field.
  • Minimum 10 years of progressive commercial banking and credit experience.
  • Minimum 5 years in a senior credit leadership role.
  • Previous individual credit approval authority of at least $500,000
  • Experience with an OCC-regulated financial institution strongly preferred.

Opportunities & Benefits at SmartBiz Bank
  • Mission-driven culture focused on small business banking.
  • Competitive compensation and equity participation where applicable.
  • Employer-paid medical, dental, vision, life, and disability insurance for eligible employees and dependents.
  • 401(k) retirement plan.
  • Flexible vacation policy.
  • Inclusive workplace committed to equal employment opportunity.

-- SmartBiz Bank is an Equal Opportunity employer and is proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. California residents can learn more about how we use your information by visiting https://sites.google.com/view/smartbizloans-employment-ccpa

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