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Financial Risk Manager Jobs in Aurora, IL (NOW HIRING)

1872 Consulting

Financial Engineer

Chicago, IL · Hybrid

Financial EngineerThis role is open with a financial services company, who is currently engaged in ... Risk Management and other departments about issues and concernsCreate logical and innovative ...

1872 Consulting

Financial Engineer

Chicago, IL · Hybrid

Financial EngineerThis role is open with a financial services company, who is currently engaged in ... Risk Management and other departments about issues and concernsCreate logical and innovative ...

Wedbush

Vice President, Market Risk Manager

Chicago, IL · On-site

$125K - $200K/yr

We provide innovative financial solutions through our Wealth Management, Capital Markets, Futures ... The primary function of this role is to act as a Market Risk Analytics Manager focusing on futures ...

Capital One

Lead Risk Specialist

Chicago, IL · On-site

$101K/yr

At least 2 years of Financial Services Risk Management experience * At least 3 years of Project Management or Process Management experience * At least 3 years of experience supporting, partnering ...

BMO Capital Markets

Manager, Risk Governance

Chicago, IL · On-site

$74K - $138K/yr

The Manager, Risk Governance develops, implements, and maintains risk governance frameworks ... BMO Financial Group's total compensation package will vary based on the pay type of the position ...

Bank of Montreal

Manager, Risk Governance

Chicago, IL · On-site

$74K - $138K/yr

The Manager, Risk Governance develops, implements, and maintains risk governance frameworks ... BMO Financial Group's total compensation package will vary based on the pay type of the position ...

Cedar Cares, Inc

Chief Risk Officer

Chicago, IL · On-site

$259.25 - $320.25/hr

We are hiring a Chief Risk Officer to provide strategic leadership and oversight of the financial risk management function for the Clearinghouse. The CRO reports to the President of Cboe Clearing US ...

ElectronX

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

With offices in Chicago and New York City, ElectronX is building the missing financial infrastructure and risk management tools necessary to smooth the path for U.S. energy production ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

With offices in Chicago and New York City, ElectronX is building the missing financial infrastructure and risk management tools necessary to smooth the path for U.S. energy production ...

William Blair

Senior Risk Analyst

Chicago, IL · On-site

$100K - $115K/yr

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 ...

Bank of Montreal

Senior Manager, ONFR Programs

Chicago, IL · On-site

$102 - $190/hr

Audit, Risk & ComplianceThe Senior Manager, ONFR Programs, is a key member of the Operational Non-Financial Risk (ONFR) Program team, responsible for advancing the enterprise-wide Non-Financial Risk ...

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Financial Risk Manager information

See Aurora, IL salary details

$51.4K

$111.3K

$169.6K

How much do financial risk manager jobs pay per year?

As of Aug 23, 2026, the average yearly pay for financial risk manager in Aurora, IL is $111,289.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,800.00 and $128,700.00 per year, depending on experience, location, and employer.

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 the key skills and qualifications needed to thrive as a financial risk manager?

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 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.

Do financial risk managers make good money?

Financial risk managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, median annual pay often exceeds $100,000, with senior roles and certifications like FRM or CFA increasing earning potential. They also benefit from bonuses and other incentives based on performance and risk management success.

Is it hard to become a financial risk manager?

Becoming a financial risk manager typically requires a strong background in finance, economics, or related fields, along with relevant certifications such as the FRM or CFA. The role involves developing analytical skills, understanding financial models, and often gaining experience in risk analysis or financial analysis, which can take several years of education and work experience to achieve.

Is risk management in finance a good career?

A career as a financial risk manager involves analyzing and mitigating financial risks for organizations, often requiring strong analytical skills, knowledge of financial instruments, and certifications like FRM or CFA. It offers opportunities in banking, investment firms, and corporations, with a focus on quantitative analysis and regulatory compliance. The role can be rewarding for those interested in finance and risk assessment, with a stable job outlook and competitive salary potential.

What job categories do people searching Financial Risk Manager jobs in Aurora, IL look for?

The top searched job categories for Financial Risk Manager jobs in Aurora, IL are:

What cities near Aurora, IL are hiring for Financial Risk Manager jobs?

Cities near Aurora, IL with the most Financial Risk Manager job openings:

Financial Risk Manager jobs near you
Infographic showing various Financial Risk Manager job openings in Aurora, IL as of July 2026, with employment types broken down into 1% As Needed, 82% Full Time, 12% Part Time, and 5% Contract. Highlights an 87% Physical, 3% Hybrid, and 10% Remote job distribution, with an average salary of $110,600 per year, or $53.2 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

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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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