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Internship Credit Risk Modeling Jobs in Chicago, IL

Avant

Associate, Data Science, Credit Risk

Chicago, IL

$95K - $130K/yr

Design and build robust credit risk models, including application scorecards, behavioral models, loss forecasting, and risk-based pricing, to optimize underwriting decisions and drive overall ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Market & Credit Risk * Design and oversee margin model validation, stress testing, and back-testing programs. * Manage counterparty credit risk assessment and ongoing monitoring for clearing members.

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Internship Credit Risk Modeling information

See Chicago, IL salary details

$126.1K

$146.9K

$189.9K

How much do internship credit risk modeling jobs pay per year?

As of Jun 11, 2026, the average yearly pay for internship credit risk modeling in Chicago, IL is $146,941.00, according to ZipRecruiter salary data. Most workers in this role earn between $134,200.00 and $150,400.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as an Internship Credit Risk Modeling, and why are they important?

To thrive as an Internship Credit Risk Modeling, you generally need strong quantitative and analytical skills, a background in finance, statistics, or a related field, and familiarity with risk concepts. Experience with statistical programming languages such as Python, R, or SAS, and proficiency in Excel or SQL, are commonly required, and relevant coursework or certifications in risk management or data analysis are advantageous. Attention to detail, critical thinking, and effective communication help interns stand out when interpreting data and presenting risk findings. These skills are important to ensure accurate risk assessments, support data-driven decision-making, and facilitate collaboration within financial institutions.

What types of projects or tasks can I expect to work on during an Internship in Credit Risk Modeling?

As an intern in Credit Risk Modeling, you'll typically assist with statistical analysis, data preparation, and validation of risk models used by the organization to evaluate creditworthiness. You may support senior analysts in building or refining predictive models using programming languages like Python or R, and work with large datasets to uncover trends in borrower behavior. Interns often collaborate with risk analysts, data scientists, and IT teams, gaining exposure to both technical and business perspectives. This hands-on experience helps build a solid foundation for a future career in quantitative finance or risk management.

What is the difference between Internship Credit Risk Modeling vs Credit Risk Analyst?

AspectInternship Credit Risk ModelingCredit Risk Analyst
CredentialsTypically pursuing or recent graduate, some familiarity with finance or statisticsBachelor's degree in finance, economics, or related field; often requires some experience
Work EnvironmentInternship setting, supervised, project-basedFull-time, professional environment, more independent responsibilities
Industry UsageEntry-level, educational focus, training periodCore role in financial institutions, ongoing risk assessment

Internship Credit Risk Modeling positions are designed for students or recent graduates gaining initial experience, often with supervised tasks. Credit Risk Analysts are experienced professionals responsible for ongoing risk evaluation, requiring more advanced skills and independence. The internship serves as a training ground, while the analyst role involves continuous risk management in financial institutions.

What is an Internship in Credit Risk Modeling?

An Internship in Credit Risk Modeling is a temporary position, usually for students or recent graduates, where you work with financial institutions to understand and help develop models that predict the likelihood of borrowers defaulting on loans. Interns typically assist in analyzing data, building statistical models, and supporting risk assessment processes. This role provides hands-on experience with financial data, programming, and model validation, making it valuable for those interested in finance, statistics, or data science. It also offers exposure to regulatory requirements and real-world risk management practices.
What are the most commonly searched types of Credit Risk Modeling jobs in Chicago, IL? The most popular types of Credit Risk Modeling jobs in Chicago, IL are:
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Internship Credit Risk Modeling jobs near you
Infographic showing various Internship Credit Risk Modeling job openings in Chicago, IL as of June 2026, with employment types broken down into 4% As Needed, 70% Full Time, 17% Part Time, 1% Temporary, 6% Contract, and 2% Nights. Highlights an 83% Physical, 4% Hybrid, and 13% Remote job distribution, with an average salary of $146,941 per year, or $70.6 per hour.
Risk Management - Credit Risk Associate

Risk Management - Credit Risk Associate

JP Morgan Chase

Chicago, IL

Full-time

Medical, Retirement

Posted 9 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 468 frontline employees who took The Breakroom Quiz

46th of 141 rated banks

Job description

Bring your expertise to JPMorganChase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Credit Risk Associate within the Business Services Leveraged Finance Credit team, you will cover noninvestment grade corporate clients and sponsorbacked clients across Business Services subsectors. You will manage and monitor a portfolio of leveraged issuers, underwrite LBOs and recapitalizations, partner with the trading desk to approve hedging exposure, support legal negotiations, and collaborate with the Asset Based Lending (ABL) Credit Team to deliver collateralbacked solutions. Your work will directly influence the firm's riskreturn balance while upholding a strong culture of compliance and partnership.

Job Responsibilities

  • Manage and monitor a portfolio of client credit exposures across Business Services subsectors (e.g., facilities management, outsourcing, staffing, security services, consulting firms, etc.).
  • Track exposure across loans, revolvers, term loans, letters of credit, ABL facilities, and derivatives; ensure compliance with limits, covenants, and internal risk appetite.
  • Conduct scenario analysis/stress testing on leverage, liquidity, and cash flow resilience.
  • Take ownership of client credit needs and independently develop credit opinions.
  • Build and review pro forma capital structures and cash flow projection models; assess debt capacity, deleveraging paths, interest coverage, liquidity, and covenant headroom.
  • Manage credit due diligence process for clients and capital markets transactions, coordinating thirdparty reports, management meetings, and site visits.
  • Assess counterparty credit risk using SACCR/PFE methodologies; monitor exposure, collateral thresholds, and margining under CSA.
  • Coordinate with Treasury Services, Payments Risk, and Implementation teams to align product structures, collateralization/guarantees, and documentation with credit appetite.
  • Collaborate with Global Corporate Banking Coverage, Debt Capital Markets, Investment Banking Coverage, and Syndicate teams.
  • Stay current on all aspects of credit relationships, including exposure, compliance, documentation status, and ongoing credit research.

Required Qualifications, Capabilities, and Skills

  • Bachelors degree
  • Completion of a major corporate bank credit training program or equivalent experience
  • Minimum of 3 years of related experience in credit risk, leveraged finance, or corporate finance
  • Strong accounting and corporate finance expertise; proven analytical and financial modeling ability
  • Proficiency in Excel, PowerPoint, and Word; ability to produce concise, decisionready materials
  • Outstanding verbal and written communication; strong interpersonal skills; ability to perform under pressure in a demanding environment

Preferred Qualifications, Capabilities, and Skills

  • MBA or CFA designation
  • Familiarity with rating agency methodologies and stress testing practice
  • Experience with ABL structures, borrowing base analysis, and collateral diligence
  • Knowledge of loan and derivative products, documentation, and structuring; experience negotiating legal documents associated with credit products
  • Experience negotiating legal documents associated with credit products
  • Sector familiarity beyond Business Services (e.g., Consumer, Retail, Healthcare, Diversified Industries, Automotive, Transportation, Aerospace, Defense, Airlines, Natural Resources, Energy)
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process. 

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. 

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