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Financial Risk Manager Jobs in Illinois (NOW HIRING)

Early Warning Services

IT Risk Manager

Chicago, IL · Hybrid

S. financial system for over thirty years with cutting-edge solutions like Zelle, Paze, and so much ... Overview The Manager, Risk Management is responsible for the building and coordination of a ...

William Blair

Risk Analyst

Chicago, IL · Hybrid

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 ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

With more than 130 years of financial experience and over 22,000 partners, we serve the world ... Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

With more than 130 years of financial experience and over 22,000 partners, we serve the world ... Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL

$80K - $133K/yr

With more than 130 years of financial experience and over 22,000 partners, we serve the world ... Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ...

Crowe LLP

Third Party Risk Manager

Chicago, IL

Manager - Third Party Risk The position will be primarily responsible for managing and leading ... Financial Services * Pharmaceutical * Life Sciences * Biotechnology * Healthcare * Manufacturing

Capital One

Senior Auditor - Risk Management

Chicago, IL · On-site

$83K - $102K/yr

Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Credit Risk Certification (CRC ...

Capital One

Senior Auditor - Risk Management

Riverwoods, IL · On-site

$84K - $103K/yr

Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Credit Risk Certification (CRC ...

Capital One

Senior Auditor - Risk Management

Riverwoods, IL · On-site

$84K - $103K/yr

Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Credit Risk Certification (CRC ...

Capital One

Senior Auditor - Risk Management

Chicago, IL

$83K - $102K/yr

Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified Risk Manager (CRM), Financial Risk Manager (FRM), or Credit Risk Certification (CRC ...

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All JobsFinancial Risk Manager JobsFinancial Risk Manager Jobs in Illinois

Financial Risk Manager information

See Illinois salary details

$49.9K

$108.1K

$164.7K

How much do financial risk manager jobs pay per year?

As of Jul 1, 2026, the average yearly pay for financial risk manager in Illinois is $108,101.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,200.00 and $125,000.00 per year, depending on experience, location, and employer.

What are some common challenges Financial Risk Managers face when working with cross-functional teams?

Financial Risk Managers often collaborate with departments such as treasury, compliance, and IT to identify and mitigate risks. One common challenge is aligning risk management strategies with diverse departmental goals, which may sometimes conflict with each other. Effective communication and negotiation skills are essential to ensure all stakeholders understand the risk implications of their decisions. Additionally, adapting to rapidly changing regulations and market conditions can create pressure to quickly update risk models and processes.

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

AspectFinancial Risk ManagerCredit Analyst
CertificationsFRM, CFAFitch, CFA
Work EnvironmentFinancial institutions, banks, investment firmsBanks, lending institutions, credit agencies
Primary FocusAssessing and managing overall financial risksEvaluating creditworthiness of borrowers
Industry UsageRisk management departments, trading floorsLoan departments, credit risk units

While both roles involve financial analysis, a Financial Risk Manager focuses on identifying and mitigating broad financial risks across an organization, often requiring advanced certifications like FRM or CFA. A Credit Analyst specializes in assessing individual borrowers' creditworthiness to inform lending decisions. Both roles are vital in financial institutions but serve different strategic purposes.

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

To thrive as a Financial Risk Manager, you need a strong background in finance, quantitative analysis, and risk assessment, typically supported by a relevant degree and certifications like FRM or CFA. Expertise in risk modeling software, statistical tools such as SAS or R, and financial reporting systems is highly valued. Exceptional analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These skills and qualities are crucial for accurately identifying, assessing, and mitigating financial risks to protect organizational assets and ensure regulatory compliance.

What does a Financial Risk Manager do?

A Financial Risk Manager (FRM) is responsible for identifying, analyzing, and mitigating financial risks within an organization. Their work involves assessing threats related to credit, market, operational, and liquidity risk, and developing strategies to minimize potential losses. FRMs use quantitative analysis, financial modeling, and risk assessment tools to advise decision-makers on risk exposures. They play a vital role in ensuring that a company remains compliant with financial regulations and maintains financial stability.
What are popular job titles related to Financial Risk Manager jobs in Illinois? For Financial Risk Manager jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Financial Risk Manager jobs in Illinois look for? The top searched job categories for Financial Risk Manager jobs in Illinois are:
What cities in Illinois are hiring for Financial Risk Manager jobs? Cities in Illinois with the most Financial Risk Manager job openings:
Financial Risk Manager jobs near you
AVP Risk Manager, Reporting

AVP Risk Manager, Reporting

Zurich Insurance Group

Schaumburg, IL • On-site

Full-time

Posted 9 days ago

Job description

Zurich North America is seeking an AVP - Risk Manager to provide second line oversight and governance across business units. This role partners with senior stakeholders to ensure risk management practices are effectively embedded, supports risk-informed decision making, and ensures alignment with enterprise and regulatory expectations.
The AVP - Risk Manager provides independent oversight, objective review, and guidance of business unit risk activities to ensure strong governance, regulatory alignment, and adherence to enterprise risk management standards. This role is responsible for leading and supporting key risk governance processes, partnering with business stakeholders, and delivering timely, high-quality risk insights and reporting.
  • Lead and support risk and control reporting for local executives, including coordination, review, and follow-up on key risk outputs.
  • Support local risk & control and Assurance Coordinator activities to ensure effective governance, alignment, and execution of risk-related deliverables.
  • Oversee and contribute to the ZAIC Quarterly Risk Report process, ensuring quality, completeness, and timely delivery of risk inputs and reporting.
  • Serve as the risk partner for the US Joint Venture and other local business units, providing oversight, guidance, and challenge on risk matters and governance activities.
  • Support ORSA activities, including coordination, review, and consolidation of inputs to enable effective risk assessment and enterprise reporting.

Basic Qualifications:
  • Bachelors Degree in Risk Management and 7 or more years of experience in the Risk Management área OR
  • High School Diploma or Equivalent and 9 or more years of experience in the Risk Management área OR
  • Zurich Certified Insurance Apprentice including an Associate Degree in Risk Management and 7 or more years of experience in the Risk Management área AND
  • 7 or more years in the insurance or financial industry, including experience in different technical functions
  • Knowledge in risk management or risk engineering

Preferred Qualifications:
  • Strong ability to challenge and influence senior stakeholders
  • Experience with risk frameworks, governance, and regulatory expectations
  • Proven ability to manage multiple priorities and deliver high-quality outputs
  • Strong written and verbal communication skills
  • Advanced degree and/or professional risk or finance certification
  • Demonstrates independent judgment and effective challenge
  • Applies an enterprise-wide perspective to risk assessment and decision-making
  • Influences outcomes in a matrixed environment
  • Ensures strong governance, execution, and delivery discipline
  • Builds capability through coaching and enablement across teams

Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply-your unique background matters to us.
The pay range shown is a national average and may vary by location. The proposed salary range for this position is $110,220 - $180,510, with short-term incentive bonus eligibility set at 20%.
We offer competitive pay and comprehensive benefits for employees and their families. [Learn more about Total Rewards here.]
Why Zurich?
At Zurich, we value your ideas and experience. We offer growth, inclusion, and a supportive environment-so you can help shape the future of insurance. Zurich North America is a leader in risk management, with over 150 years of expertise and coverage across 25+ industries, including 90% of the Fortune 500®.
Join us for a brighter future-for yourself and our customers.
Zurich in North America does not discriminate based on race, ethnicity, color, religion, national origin, sex, gender expression, gender identity, genetic information, age, disability, protected veteran status, marital status, sexual orientation, pregnancy or other characteristics protected by applicable law. Equal Opportunity Employer disability/vets.
Zurich complies with 18 U.S. Code § 1033.
Please note: Zurich does not accept unsolicited CVs from agencies. Preferred vendors should use our Recruiting Agency Portal.
Location(s): AM - Schaumburg
Remote Working: Hybrid
Schedule: Full Time
Employment Sponsorship Offered: No
Linkedin Recruiter Tag: #LI-MG1 #LI-DIRECTOR

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