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Financial Engineering Jobs in Illinois (NOW HIRING)

Mayer Brown

Engineer: Financial Services

Chicago, IL · On-site

$95 - $126/hr

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Mayer Brown

Engineer: Financial Services

Chicago, IL · On-site

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Mayer Brown Llp

Engineer: Financial Services

Chicago, IL · On-site

$95K/yr

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

Mayer Brown

Engineer: Financial Services

Chicago, IL · On-site

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

UNAVAILABLE

Engineer: Financial Services

Chicago, IL · On-site

$95 - $126/hr

Financial Services is responsible for the support and development of the Finance and Accounting ... Training or certifications in data engineering, cloud data platforms, data science, or analytics (e ...

New

PTMA Financial Solutions

AI Engineer

Naperville, IL · On-site

$120K - $145K/yr

... engineering work as needed to get things shipped. This is a hands-on execution role in a U.S.-regulated financial services environment, working alongside and with guidance from senior members of the ...

Quant Blueprint LLC

NXT - Software Engineer

Chicago, IL · On-site

$54 - $66/hr

Quantitative background - includes degrees in Mathematics, Statistics, Econometrics, Financial Engineering, Operations Research, Computer Science, and Physics. * Programming proficiency with at least ...

New

In Tandem

Analytics Engineer, Finance & Modeling

Chicago, IL · On-site +1

$100K - $130K/yr

Data Engineering Employment Type: Permanent - Full Time Location: Chicago - Remote Compensation ... An engineer who owns the number end to end, from a CFO's question through the model, the test, the ...

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All JobsFinancial Engineering JobsFinancial Engineering Jobs in Illinois

Financial Engineering information

See Illinois salary details

$73.6K

$107.4K

$131.8K

How much do financial engineering jobs pay per year?

As of Sep 4, 2026, the average yearly pay for financial engineering in Illinois is $107,380.00, according to ZipRecruiter salary data. Most workers in this role earn between $96,900.00 and $120,600.00 per year, depending on experience, location, and employer.

What is financial engineering?

Financial engineering is the application of mathematical techniques, computer science, and statistical methods to solve problems and create innovative solutions in finance. Professionals in this field develop new financial products, manage risk, and optimize investment strategies using quantitative models. Financial engineers often work in banks, investment firms, hedge funds, or financial technology companies, helping organizations manage complex financial systems and products. The discipline combines finance, mathematics, statistics, and programming to address challenges in areas like derivatives pricing, risk management, and portfolio optimization.

What are some common challenges faced by financial engineers when implementing quantitative models in real-world financial institutions?

Financial engineers often encounter challenges such as aligning complex quantitative models with existing IT infrastructure and ensuring the models comply with regulatory requirements. Additionally, translating theoretical models into practical, scalable solutions that can handle large volumes of real-time data requires close collaboration with software developers and risk managers. Effective communication with non-technical stakeholders is also crucial, as financial engineers must explain model assumptions and results to decision-makers from diverse backgrounds.

What are the key skills and qualifications needed to thrive as a financial engineer, and why are they important?

To thrive as a Financial Engineer, you need a strong background in quantitative analysis, mathematics, programming, and finance, typically supported by a relevant degree such as financial engineering, mathematics, or computer science. Expertise in programming languages like Python, R, or C++, as well as familiarity with financial modeling software and risk management systems, is essential. Strong problem-solving, analytical thinking, and communication skills set top performers apart in this role. These skills are crucial for designing innovative financial products, managing complex risks, and translating quantitative insights into actionable business strategies.

What is the difference between Financial Engineering vs Quantitative Analyst?

AspectFinancial EngineeringQuantitative Analyst
Required CredentialsDegree in Financial Engineering, Mathematics, or related fields; often certifications like CQFDegree in Finance, Mathematics, or Statistics; certifications like CFA or CQF are common
Work EnvironmentFinancial institutions, hedge funds, investment banks; focus on product development and risk managementTrading desks, asset management firms; focus on data analysis and model development
Employer & Industry UsageUsed in risk management, derivatives pricing, and structured productsUsed in trading strategies, portfolio management, and risk assessment

Financial Engineering and Quantitative Analysts often share similar educational backgrounds and work in related financial sectors. While Financial Engineers focus on creating financial products and managing risks through complex models, Quantitative Analysts primarily analyze data to inform trading and investment decisions. Both roles require strong quantitative skills and often overlap in financial institutions.

What is the work of a financial engineer?

A financial engineer develops mathematical models and uses quantitative techniques to analyze and manage financial risks, design trading strategies, and create financial products. They often work with programming tools like Python or C++ and require strong skills in mathematics, finance, and computer science. Their work supports decision-making in investment banks, hedge funds, and financial institutions.

What jobs do financial engineers get?

Financial engineers typically work as quantitative analysts, risk managers, derivatives traders, or financial modelers in banking, investment firms, hedge funds, and insurance companies. They use skills in mathematics, programming, and financial theory to develop models and strategies for trading, risk assessment, and asset management.

What are popular job titles related to Financial Engineering jobs in Illinois?

For Financial Engineering jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Financial Engineering jobs in Illinois look for?

The top searched job categories for Financial Engineering jobs in Illinois are:

What cities in Illinois are hiring for Financial Engineering jobs?

Cities in Illinois with the most Financial Engineering job openings:

Financial Engineering jobs near you
Infographic showing various Financial Engineering job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 10% Part Time, and 2% Contract. Highlights an 88% Physical, 4% Hybrid, and 8% Remote job distribution, with an average salary of $107,380 per year, or $51.6 per hour.

Financial Engineer

1872 Consulting

Chicago, IL • Hybrid

Full-time

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

Job description

Financial EngineerThis role is open with a financial services company, who is currently engaged in building new cutting-edge risk systems. The Financial Engineer will assist in backtesting, software verification, and the independent implementation of new flagship Risk Systems. The role will include the application of statistical and data analytic techniques to market and financial risk data.– onsite 2-3 days per week, WFH 2-3 days per weekResponsibilities: Verify accuracy and reliability of the software implementation of the modelImplement complex independent tests to validate the implementation of risk systems. Implement risk analysis tools, such as back testing tools, to support ongoing monitoringImplement repeatable back testing suites for both new and existing modelsImplement independent models to benchmark production modelsAssess the quality of input and output data as well as parameters for the risk systems as well as between components of the risk systemsDocument testing activitiesCommunicate with Model Risk Management and other departments about issues and concernsCreate logical and innovative solutions to complex problemsComplete all activities in accordance with strict business timelinesRequirements:3+ years of experience doing fintech or financial services developmentDevelopment experience in Java, R, C#, C++, C, or PythonPrevious experience with SQL databases, MS SQL Server Management Studio, and/or SquirrelNice to have: Exposure to options valuation theory and options marketsExperience with Risk ManagementDegree in mathematical finance, econometrics, mathematics, statistics, physics, or engineering

1872 Consulting logo

About 1872 Consulting

Sourced by ZipRecruiter

1872 Consulting, based in Chicago, IL, USA, operates within the IT consulting industry. Armed with a diverse team of experts, the company offers specialized IT consulting services, focusing on modernizing business technologies and driving innovative business strategies. Established in 1872, the company has a rich history marked by its commitment to bridging the gap between businesses and technology. Its mission is to empower organizations to surpass their business goals by providing state-of-the-art IT solutions and service. The company prides itself on its core values of integrity, excellence, and innovation, instilling these principles in every project they undertake.

Industry

It services

Company size

11 - 50 Employees

Headquarters location

Chicago, IL, US

Year founded

2014

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