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Financial Risk Management Jobs in Chicago, IL (NOW HIRING)

Wintrust

Officer, Model Risk Management

Rosemont, IL · On-site

Wintrust provides community and commercial banking, specialty finance and wealth management ... Position Overview The Officer, Model Risk Management will conduct various activities related to ...

Geneva Trading

Global Head of Risk Management

Chicago, IL · On-site

$225K - $300K/yr

The Global Head of Market Risk Management will play a key role in the trading firm's dynamic ... Bachelor's Degree or above in a quantitative discipline. (physics, finance, economics, econometrics ...

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Financial Risk Management information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do financial risk management jobs pay per year?

As of Jun 25, 2026, the average yearly pay for financial risk management in Chicago, IL is $114,919.00, according to ZipRecruiter salary data. Most workers in this role earn between $92,700.00 and $132,900.00 per year, depending on experience, location, and employer.

What is a Financial Risk Management job?

A Financial Risk Management job involves identifying, assessing, and mitigating risks that could impact a company's financial health. Professionals in this field analyze market trends, credit risks, and operational risks to develop strategies that protect assets and profitability. They use financial modeling, risk assessment tools, and regulatory guidelines to ensure compliance and minimize potential losses. Common roles include risk analysts, credit risk managers, and compliance officers in industries like banking, insurance, and investment firms.

How much does a risk manager get paid?

A risk manager's salary varies based on experience, industry, and location, but typically ranges from $70,000 to $150,000 annually. Senior risk managers or those in financial hubs can earn higher salaries, especially with certifications like FRM or CFA and strong analytical skills.

What are the typical career advancement opportunities for someone in Financial Risk Management?

Professionals in Financial Risk Management often start as analysts or associates and can progress to roles such as Risk Manager, Senior Risk Analyst, or Director of Risk Management with experience and proven expertise. Career advancement typically involves taking on greater responsibility for complex risk analysis, decision-making, and leading teams or projects. Earning specialized certifications and gaining exposure to different risk disciplines (such as market risk, credit risk, or operational risk) can also accelerate career growth. Many organizations provide opportunities for cross-functional collaboration, which helps develop leadership and strategic planning skills important for moving into executive-level positions.

What are the key skills and qualifications needed to thrive in the Financial Risk Management position, and why are they important?

To thrive in Financial Risk Management, you need a strong analytical background, proficiency in financial modeling, and typically a degree in finance, economics, or a related field. Familiarity with risk assessment software, data analytics tools like Excel or SQL, and certifications such as FRM (Financial Risk Manager) or CFA are highly valued. Excellent problem-solving skills, attention to detail, and strong communication abilities help professionals effectively present risks and collaborate with stakeholders. These competencies are crucial for accurately identifying, analyzing, and mitigating financial risks to support an organization's financial health.

Is risk management high paying?

Risk management professionals, including those in financial risk management, often earn competitive salaries that increase with experience, certifications, and industry sector. Entry-level roles may have moderate pay, but senior positions such as risk managers or directors typically offer high compensation, especially in finance and banking industries. Skills in data analysis, quantitative methods, and regulatory knowledge can also influence earning potential.

What is a financial risk management job?

A financial risk management job involves identifying, analyzing, and mitigating financial risks that could impact an organization’s assets or earnings. Professionals in this field use tools like risk assessment models, financial analysis, and regulatory knowledge to develop strategies that minimize potential losses and ensure financial stability.
What are the most commonly searched types of Financial Risk Management jobs in Chicago, IL? The most popular types of Financial Risk Management jobs in Chicago, IL are:
What are popular job titles related to Financial Risk Management jobs in Chicago, IL? For Financial Risk Management jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Financial Risk Management jobs in Chicago, IL look for? The top searched job categories for Financial Risk Management jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Financial Risk Management jobs? Cities near Chicago, IL with the most Financial Risk Management job openings:
Financial Risk Management jobs near you
Risk Event & Issue Management Specialist, BU Control

Risk Event & Issue Management Specialist, BU Control

Northern Trust

Chicago, IL • On-site

$114K - $194K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 27 days ago

Northern Trust rating

8.0

Company rating: 8.0 out of 10

Based on 23 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world's most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Role Summary
Northern Trust Asset Management (NTAM) is an over trillion-dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments, so they can confidently realize their long-term objectives.
Based in the first line of defense (1LoD), the Issue Management and Risk Event Specialist, Asset Management Global Control, is responsible for oversight, reporting and execution of the risk event and issue management frameworks, and assisting control owners within the Asset Management business unit with developing and maintaining a sustainable control framework.
Primary Responsibilities:
  • Provide the necessary guidance and oversight to first line business units to ensure adherence with the firm's non-financial risk programs.
  • Provide advisory services on risk event matters and work proactively with business contacts and management to identify and implement effective and efficient solutions.
  • Leverage stakeholder management skills to facilitate the resolution of complex, operational errors leveraging the appropriate resources within or outside the department.
  • Perform independent risk event investigations and lessons learned analysis, documenting findings in accordance with risk management standards.
  • Assist in the identification of control weaknesses, suggest remediation activities, and work with the business to address gaps and enhancements to plans/strategies/processes/playbooks.
  • Support reporting on the Risk events, identified themes and management actions.
  • Perform periodic reviews of existing and new processes to identify opportunities for control enhancement.
  • Maintain a robust understanding of the interconnectivity of internal documents governing our Risk Management Lifecycle (e.g., identify, assess, measure, treat and control, and monitor and report risks) as well as the tools and systems that support them.
  • Serve as a subject matter expert to Control Owners and Issue Owners on the Risk Management Lifecycle.
  • Support Issue Owners and/or Issue Identifiers in accurate documentation of root cause analysis, impact analysis, severity ratings and corresponding remediation actions.
  • Review evidence provided by Issue Owner to validate remediation actions were implemented as required and meet all acceptance criteria to close the issue.
  • Monitor the status of remediation actions and provide periodic updates to applicable stakeholders.

Necessary Knowledge, Skills and Experience
  • 7+ years of experience working in risk, control, audit or related function at a large financial institution, preferably with Asset or Wealth Management domain knowledge.
  • Outstanding communication and influencing skills, both written and verbal, with demonstrated ability to effectively challenge key stakeholders and develop and present materials effectively.
  • Outstanding attention to detail and problem-solving skills, with demonstrated ability to rapidly adapt to change and shifting business profiles.
  • Demonstrated ability to work collaboratively within and across global project teams, functional areas, business units and all lines of defense.
  • Proficient in Microsoft Office with strong Excel skills for data analysis to drive insights; experience in leveraging MS Co-Pilot to enable efficiency ways of working is highly desired
  • Strong situational awareness and decision-making capabilities.
  • Excellent prioritization skills and comfort dealing with ambiguity.
  • Strong understanding of risk management and asset management practices.
  • Solid understanding of regulatory, compliance and legal environment within the Asset Management industry.

Salary Range:
$114,700 - 194,900 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.

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