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

Early Warning Services

Sr. IT Risk Manager

Chicago, IL · Hybrid

S. financial system for over thirty years with cutting-edge solutions like Zelle, Paze, and so much ... Essential Functions Risk, Control, and Issue Management * Serves as a subject matter expert ...

Crowe LLP

Third Party Risk Manager

Chicago, IL · On-site

Manager - Third Party Risk The position will be primarily responsible for managing and leading the ... Financial Services * Technology, Media and Telecommunications Basic Qualifications * Bachelor ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/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 ...

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 ...

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All JobsFinancial Risk Manager JobsFinancial Risk Manager Jobs in Chicago, IL

Financial Risk Manager information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do financial risk manager jobs pay per year?

As of Jul 1, 2026, the average yearly pay for financial risk manager 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 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 Chicago, IL? For Financial Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Financial Risk Manager jobs in Chicago, IL look for? The top searched job categories for Financial Risk Manager jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Financial Risk Manager jobs? Cities near Chicago, IL with the most Financial Risk Manager job openings:
Financial Risk Manager jobs near you
Manager, Credit Risk & Portfolio Analytics

Manager, Credit Risk & Portfolio Analytics

Artius Solutions

Chicago, IL • On-site

Full-time

Posted 21 days ago

Be an early applicant

Job description

Manager, Credit Risk & Portfolio Analytics

Location: Chicago, IL (Hybrid)
Employment Type: Full-Time

Overview

Our client, a large and well-established financial services organization based in Chicago, is seeking a Manager, Markets Credit to lead credit risk oversight across mortgage-related assets and fixed income investment portfolios.

This role will manage a team responsible for developing and maintaining credit risk models, performing scenario analysis and stress testing, and monitoring portfolio risk trends. The position will also collaborate closely with cross-functional teams to support investment strategies, product development initiatives, and regulatory compliance efforts.

The ideal candidate is a strong analytical leader with experience in credit risk modeling, mortgage or structured finance exposure, and a track record of leading high-performing analytical teams.

Key ResponsibilitiesCredit Risk Oversight

  • Oversee the monitoring and analysis of credit risk exposures within mortgage-related and investment portfolios.

  • Identify emerging risk trends and provide insights into portfolio performance and risk concentrations.

  • Ensure risk management frameworks support sound portfolio management and investment decision-making.

Credit Modeling & Analytics

  • Lead the development and maintenance of credit risk models including prepayment, default, and loss forecasting models.

  • Manage model assumptions, calibration, validation support, and performance monitoring.

  • Conduct model back-testing and benchmarking to evaluate model effectiveness and recommend improvements.

  • Design analytical tools and risk frameworks to evaluate credit enhancement adequacy and portfolio resilience.

Stress Testing & Scenario Analysis

  • Lead scenario analysis and macroeconomic stress testing across mortgage and investment portfolios.

  • Evaluate portfolio sensitivity to changing market conditions and economic variables.

  • Present findings and recommendations to senior stakeholders.

Regulatory & Governance Collaboration

  • Partner with model validation teams, internal audit, and regulatory stakeholders to ensure models and processes meet governance requirements.

  • Support regulatory reporting and model documentation standards.

Data & Process Innovation

  • Identify opportunities to enhance risk monitoring through advanced analytics, automation, and improved data infrastructure.

  • Lead initiatives that improve analytical efficiency and portfolio risk transparency.

Team Leadership & Stakeholder Collaboration

  • Lead and develop a team of credit risk analysts and quantitative professionals.

  • Provide mentorship, performance management, and guidance on analytical methodologies.

  • Build strong partnerships with internal teams including finance, treasury, operations, legal, and risk management.

QualificationsEducation

  • Bachelor’s degree in Mathematics, Finance, Economics, Statistics, Computer Science, or a related quantitative discipline

  • Master’s degree preferred

Certifications (Preferred)

  • CFA or FRM designation or candidacy

Experience

  • 5+ years of experience in credit risk modeling, quantitative analytics, or financial risk management

  • 2+ years of people management experience

  • Experience working with mortgage assets, fixed income securities, or structured finance portfolios

Technical Skills

  • Strong experience developing predictive statistical models and analytical frameworks

  • Proficiency with SQL, Python, or R

  • Experience with business intelligence and analytics tools such as Tableau or Alteryx

  • Strong data analysis and modeling capabilities

Risk & Regulatory Knowledge

  • Familiarity with credit risk management frameworks and model governance

  • Experience supporting model validation, regulatory reviews, or audit processes

  • Understanding of mortgage lending, underwriting, or servicing processes is a plus

Leadership & Communication

  • Ability to lead and develop analytical teams

  • Strong stakeholder communication and presentation skills

  • Ability to translate complex analytical findings into actionable insights for business leaders

  • Strong problem-solving and critical thinking skills

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