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Internship Quantitative Risk Modeler Jobs in Chicago, IL

... and risk * Build and improve models that reflect real market behavior, balancing accuracy ... Work closely with quants and engineers to ensure models are robust, explainable, and production ...

... and risk * Build and improve models that reflect real market behavior, balancing accuracy ... Work closely with quants and engineers to ensure models are robust, explainable, and production ...

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Internship Quantitative Risk Modeler information

What is the difference between Internship Quantitative Risk Modeler vs Quantitative Risk Analyst?

AspectInternship Quantitative Risk ModelerQuantitative Risk Analyst
CredentialsTypically pursuing or recent graduate in finance, mathematics, or related fieldsOften requires a degree in finance, economics, or quantitative disciplines; certifications like FRM or CFA are common
Work EnvironmentInternship setting, learning-focused, supervised by senior staffFull-time professional role, responsible for risk assessment and modeling
Employer & Industry UsageUsed in banks, asset management firms, and financial institutions for training and entry-level rolesCommon in financial services, banking, and investment firms for ongoing risk management

The Internship Quantitative Risk Modeler is an entry-level, learning-focused role typically held by students or recent graduates, whereas the Quantitative Risk Analyst is a full-time professional responsible for analyzing and managing risk using quantitative models. The internship provides foundational experience, while the analyst role involves ongoing risk assessment and decision-making.

What are the most commonly searched types of Quantitative Risk Modeler jobs in Chicago, IL? The most popular types of Quantitative Risk Modeler jobs in Chicago, IL are:
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What cities near Chicago, IL are hiring for Internship Quantitative Risk Modeler jobs? Cities near Chicago, IL with the most Internship Quantitative Risk Modeler job openings:
Manager, Credit Risk & Portfolio Analytics

Manager, Credit Risk & Portfolio Analytics

Artius Solutions

Chicago, IL โ€ข On-site

Full-time

Posted 5 days ago


Job description

Manager, Credit Riskย & 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
  • Bachelorโ€™s degree in Mathematics, Finance, Economics, Statistics, Computer Science, or a related quantitative discipline

  • Masterโ€™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

.