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Financial Risk Analyst Jobs in Illinois (NOW HIRING)

William Blair

Risk Analyst

Chicago, IL · Hybrid

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/yr

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs ...

Brookfield

Risk Analyst

Chicago, IL · On-site

Bachelor's degree in risk management, finance, accounting, insurance, business, mathematics, or ... Strong analytical and critical thinking skills with attention to detail * Ability to translate ...

Deloitte

Financial Risk Manager

Chicago, IL

Financial Services Manager - Financial Risk Our Deloitte Regulatory, Risk & Forensic team helps ... Successful candidates will demonstrate an aptitude for complex problem-solving and analytical ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

Bachelor's degree in Risk Management, Mathematics, Statistics, Finance, Actuarial Science ... Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

Bachelor's degree in Risk Management, Mathematics, Statistics, Finance, Actuarial Science ... Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience ...

Apex Fintech Solutions

Lead Risk Analyst

Chicago, IL · On-site

Together, we're shaping the future of financial innovation. Embrace change. Solve big. Win together ... The Lead Risk Analyst will collaborate extensively with Product, Technology, Operations, and ...

Deloitte

Financial Risk Senior Consultant

Chicago, IL

$120K/yr

Strong analytical, critical thinking, and organizational skills * Enthusiasm for developing expertise across financial services, business process, regulation, technology, or risk management Required ...

Chubb

Vendor Risk Analyst

Chicago, IL · On-site +1

... financial stability, and compliance with regulatory requirements. * Maintain a vendor risk ... Strong analytical and problem-solving skills with the ability to assess complex vendor risk ...

ZS

Governance & Risk Analyst

Chicago, IL · On-site

$85K - $95K/yr

Governance & Risk Analyst in the Enterprise will... The GRC Analyst will support the organization ... We offer a comprehensive total rewards package that supports your health and well-being, financial ...

Alliant

Senior Credit Risk Analyst

Chicago, IL · On-site

$84K - $131K/yr

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 ...

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All JobsFinancial Risk Analyst JobsFinancial Risk Analyst Jobs in Illinois

Financial Risk Analyst information

See Illinois salary details

$37.3K

$85.4K

$114.3K

How much do financial risk analyst jobs pay per year?

As of Jul 26, 2026, the average yearly pay for financial risk analyst in Illinois is $85,381.00, according to ZipRecruiter salary data. Most workers in this role earn between $67,800.00 and $107,100.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Financial Risk Analyst, and why are they important?

To thrive as a Financial Risk Analyst, you need strong analytical skills, a solid understanding of finance and statistics, and typically a bachelor's degree in finance, economics, or a related field. Familiarity with risk modeling tools, financial software like Excel, MATLAB, or Python, and certifications such as FRM or CFA are highly valued. Attention to detail, problem-solving abilities, and effective communication help analysts present complex risk findings clearly and work well in teams. These competencies are essential for accurately assessing potential risks, supporting sound decision-making, and safeguarding an organization's financial stability.

What are some common challenges faced by Financial Risk Analysts in their daily work, and how can they be addressed?

Financial Risk Analysts often deal with rapidly changing market conditions and large volumes of complex data, which can make accurate risk assessment challenging. Staying updated with regulatory changes and effectively communicating risk findings to stakeholders with varying levels of financial knowledge are also frequent hurdles. To address these challenges, analysts typically use advanced risk modeling tools, participate in ongoing training, and collaborate closely with other departments such as compliance and trading. Building strong analytical and communication skills is key to navigating these demands successfully.

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

AspectFinancial Risk AnalystCredit Analyst
Required CredentialsBachelor's degree in finance, economics, or related field; certifications like FRM or CFABachelor's degree in finance, economics, or related field; certifications like CFA often preferred
Work EnvironmentFinancial institutions, investment firms, corporate finance departmentsBanks, lending institutions, credit agencies
Employer & Industry UsageUsed across finance sectors to assess risk levels of investments and portfoliosPrimarily used by banks and lenders to evaluate creditworthiness of borrowers

While both roles involve financial analysis, a Financial Risk Analyst focuses on assessing overall financial risks across investments and portfolios, whereas a Credit Analyst specializes in evaluating the creditworthiness of individual borrowers. Both roles require similar credentials and often work within the finance industry, but their specific focus areas differ.

What does a Financial Risk Analyst do?

A Financial Risk Analyst identifies and assesses potential risks that could affect a company's financial health, such as market fluctuations, credit issues, or operational losses. They use quantitative techniques, financial modeling, and data analysis to forecast potential risks and recommend strategies to mitigate them. Their work helps organizations make informed investment decisions, comply with regulations, and protect assets. Financial Risk Analysts often work in banks, investment firms, insurance companies, and corporate finance departments.
What are popular job titles related to Financial Risk Analyst jobs in Illinois? For Financial Risk Analyst jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Financial Risk Analyst jobs in Illinois look for? The top searched job categories for Financial Risk Analyst jobs in Illinois are:
What cities in Illinois are hiring for Financial Risk Analyst jobs? Cities in Illinois with the most Financial Risk Analyst job openings:
Financial Risk Analyst jobs near you
Infographic showing various Financial Risk Analyst job openings in Illinois as of July 2026, with employment types broken down into 1% Locum Tenens, 1% Internship, 88% Full Time, 5% Part Time, 1% Temporary, and 4% Contract. Highlights an 82% Physical, 5% Hybrid, and 13% Remote job distribution, with an average salary of $85,381 per year, or $41 per hour.
Risk Analyst

Risk Analyst

William Blair

Chicago, IL • Hybrid

Other

Posted 14 days ago

Job description

The Risk Analyst will identify and analyze potential operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the firm. Forecast risk-related costs, and develop and analyze alternatives for risk mitigation. Apply knowledge of enterprise risk management principles and methodologies to aid business partners in establishing lines of defense to address risks and monitor their effectiveness. Recommend solutions to address potential risk changes and future trends. Assist in educating employees on risk awareness and the firm's enterprise risk management framework.

Responsibilities include but may not be limited to:

  • Develop and maintain an understanding of assigned business areas, including their current processes, systems, initiatives, market environment, and business strategies and challenges.
  • Identify and analyze specific operational, financial, legal and regulatory risks that threaten the assets, earning capacity or success of the business area.
  • Categorize and assess the severity of risks within a defined framework. Identify potential risk impact and costs to the firm.
  • Utilize enterprise risk management principles and methodologies to perform quantitative analysis such as risk grading, financial risk, rate of failure.
  • Collaborate with business partners to recommend solutions to reduce or control risk.
  • Develop reports and presentations to outline findings and recommendations for risk mitigation opportunities and costs.
  • Provide risk management perspective to business areas as they consider proposed changes in their organization, operations or systems. Educate businesses in understanding and addressing operational, legal and regulatory and financial risks.
  • Identify and assess changes in government legislation and advise on compliance.
  • Continuously update assigned components of the enterprise risk portfolio. Monitor progress on risk mitigation efforts.
  • Develop contingency plans to deal with emergencies such as business continuity, emergency response, crisis communication.
  • Ensure all work activities are in compliance with applicable rules, regulations, policies and procedures.
  • Additional responsibilities as requested.

Qualifications:

  • Bachelor's Degree required
  • 2 - 5 years of financial services industry and risk management experience required, preferably in a risk, audit, or compliance roleStrong written and verbal communication skills
  • Knowledge of enterprise risk principles and methodologies
  • Knowledge of applicable regulations
  • Ability to develop cross-functional relationships to achieve project objectives
  • Project management and prioritization skills
  • Critical thinking and problem solving skills

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