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Financial Risk Analyst Jobs in Illinois (NOW HIRING)

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

... of the risk-return trade-off across consumer lending portfolios such as credit cards, personal ... finance, compliance. Drive the development of analytical frameworks and strategies for loan ...

Wintrust

Senior IT Risk Analyst

Rosemont, IL · Hybrid

$98K - $110K/yr

Wintrust provides community and commercial banking, specialty finance and wealth management ... Position Overview The Senior IT Risk Analyst (Audit concentration) role supports IT Risk Leadership ...

Wintrust

Senior IT Risk Analyst

Rosemont, IL · On-site

$98K - $110K/yr

Wintrust provides community and commercial banking, specialty finance and wealth management ... Position Overview The Senior IT Risk Analyst (Audit concentration) role supports IT Risk Leadership ...

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

$20.19 - $26/hr

As one of the largest premium finance companies in the country, FIRST Insurance Funding provides ... The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ...

Wintrust

Risk Management Analyst

Northbrook, IL

As one of the largest premium finance companies in the country, FIRST Insurance Funding provides ... The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ...

PremiStar

Risk Manager

Deerfield, IL · On-site

The Risk Manager is responsible for leading the organization's enterprise insurance strategy ... Strong analytical, financial modeling, and communication skills MINIMUM AND/OR PREFERRED ...

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

$112K - $211K/yr

As a Senior Risk Monitoring Analyst, you'll work at the forefront of financial regulatory oversight - engaging directly with complex, high-profile member firms, shaping regulatory intelligence, and ...

Fox Rothschild

Risk Mitigation Analyst

Chicago, IL · On-site

The Analyst reports to the Risk Mitigation Research Manager and works collaboratively with ... Research current and prospective firm clients to help assess reputational, financial, and other ...

CME Group

Risk Mgmt Policy Analyst

Chicago, IL · On-site

$81K - $135K/yr

The Risk Management Policy Analyst will be responsible for leading efforts to shape risk management ... Bachelor's degree in economics, finance, political science, or related field. * Possess strong ...

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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 Aug 16, 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% As Needed, 80% Full Time, 15% Part Time, and 4% Contract. Highlights an 86% Physical, 3% Hybrid, and 11% Remote job distribution, with an average salary of $85,381 per year, or $41 per hour.

Sr. Risk Analyst, Credit

Federal Home Loan Bank of Chicago

Chicago, IL • On-site, Remote

$110K - $115K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 8 days ago

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.

  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

      Responsibilities

      • Operate and maintain credit risk models for mortgage loan portfolios
      • Lead the development and implementation of alternative credit risk strategies
      • Build algorithmic solutions and design strategies for model assumption setting and performance monitoring
      • Conduct scenario analysis and stress testing to assess portfolio risks under macroeconomic and climate risk scenarios
      • Research risk management frameworks to assess environmental and regulatory risk drivers on mortgage portfolios in accordance with regulatory requirements and industry best practices and report to senior management
      • Perform credit reviews for member institutions based on financial performance and credit worthiness
      • Collaborate with validators, auditors and regulators to improve model accuracy and ensure regulatory compliance
      • Optimize business processes through the use of data management and programing tools
      • Research, diagnoses and identify solutions to issues on data anomalies and portfolio performance and create dashboards for senior management and risk committees
      • Support business on MPF product design with business analytics

      Position Requirements

      • Master's degree in Mathematics, Finance, Quantitative Finance or related field and 2 years of related experience, or, a Bachelor's degree in Mathematics, Finance, Quantitative Finance or related field and 4 years of related experience
      • Any amount of experience operating and maintaining credit risk models for mortgage loan portfolios
      • Any amount of experience building algorithmic solutions and design strategies for model assumption setting and performance monitoring
      • Any amount of experience conducting scenario analysis and stress testing to assess portfolio risks under macroeconomic and climate risk scenarios
      • Any amount of experience conducting business analysis using statistics methodology and tools of aggregated data from databases via SQL

      Must live within normal commuting distance of worksite. Remote work allowed up to 50 days per year.

      Salary range $110,150 to $115,000

      Salary Range:

      $90,400.00 - $150,700.00

      The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

      Apply