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Market Risk Jobs in Illinois (NOW HIRING)

Wedbush

Vice President, Market Risk Manager

Chicago, IL

$125K - $200K/yr

The primary function of this role is to act as a Market Risk Analytics Manager focusing on futures, options on futures, FX, power products and Fixed Income. Responsibilities include, but are not ...

Geneva Trading

Global Head of Risk Management

Chicago, IL · On-site

$225K - $300K/yr

The Global Head of Market Risk Management will play a key role in the trading firm's dynamic environment. This person will develop and apply analytic tools and techniques to define and enhance our ...

Rothera

Director, Enterprise Risk Management

Chicago, IL · On-site

$175K - $200K/yr

Rothera is building the premier prediction market in partnership with Robinhood and Susquehanna ... The Risk Management structure ensures the safety and soundness of the organization by overseeing ...

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

Join FINRA's mission to protect investors and ensure market integrity Are you a seasoned financial regulatory professional ready to make a meaningful impact? FINRA is seeking a Senior Risk Monitoring ...

Deloitte

Financial Risk Manager

Chicago, IL

Engage with industry participants on market trends, competitive activities, and topic-specific ... Credit Risk, Liquidity Risk, Market Risk, Capital Management/Stress Testing * Knowledge of ...

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All JobsMarket Risk JobsMarket Risk Jobs in Illinois

Market Risk information

See Illinois salary details

$63K

$105K

$141K

How much do market risk jobs pay per year?

As of Jun 26, 2026, the average yearly pay for market risk in Illinois is $104,977.00, according to ZipRecruiter salary data. Most workers in this role earn between $77,500.00 and $126,900.00 per year, depending on experience, location, and employer.

Is risk analyst a high paying job?

Risk analyst positions are generally considered well-paying roles within finance and banking sectors, with salaries often reflecting experience, certifications, and location. Entry-level risk analysts typically earn moderate salaries, while experienced professionals with advanced skills or certifications like FRM or CFA can command higher compensation. Overall, it is regarded as a financially rewarding career path for those with strong analytical skills and risk management knowledge.

What are the 4 types of market risk?

Market risk for a Market Risk analyst refers to the potential for financial loss due to changes in market variables. The four main types are equity risk, interest rate risk, currency risk, and commodity risk, each affecting different asset classes and requiring specific risk management strategies.

How much do market risk analysts make?

Market risk analysts typically earn a median annual salary of around $80,000 to $120,000, depending on experience, education, and location. Senior analysts or those with specialized skills in risk modeling and financial software can earn higher salaries, often exceeding $150,000 annually.

What are some common challenges faced by professionals in Market Risk roles, and how can they be effectively managed?

Market Risk professionals often face the challenge of rapidly changing market conditions and the need to respond to unexpected volatility. Keeping up with regulatory requirements and ensuring data accuracy for risk models can also be demanding. Effective management of these challenges involves staying updated with market trends, regularly back-testing models, and collaborating closely with trading desks and compliance teams. Building strong analytical skills and maintaining open communication across departments are key to navigating the complexities of the role.

Is market risk management a good career?

Market risk management is a vital role in financial institutions, focusing on identifying and mitigating risks related to market fluctuations. It requires strong analytical skills, knowledge of financial instruments, and often involves certifications like FRM or CFA. The field offers opportunities for advancement and typically involves a structured work environment with regular hours.

What is market risk?

Market risk refers to the possibility of an investor experiencing losses due to factors that affect the overall performance of the financial markets. This can include changes in interest rates, currency exchange rates, equity prices, or commodity prices. Market risk is inherent in any investment and is typically measured by volatility or the likelihood of market prices moving unfavorably. Managing market risk involves identifying, analyzing, and taking steps to mitigate potential losses. Professionals in market risk roles often use quantitative methods and models to assess and manage this risk for financial institutions.

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

To thrive as a Market Risk Analyst, you need a strong foundation in quantitative analysis, financial modeling, and a relevant degree in finance, mathematics, or economics. Familiarity with risk management systems, financial databases (such as Bloomberg), and certifications like FRM or CFA are highly valued. Strong analytical thinking, attention to detail, and effective communication skills help you interpret data and convey risks clearly to stakeholders. These abilities are crucial for accurately assessing market exposures and supporting informed decision-making in volatile financial environments.

What is the difference between Market Risk vs Credit Analyst?

AspectMarket RiskCredit Analyst
Primary FocusAssessing risks from market movements, such as interest rates, currency, and equity pricesEvaluating the creditworthiness of borrowers and assessing credit risk
Required CredentialsTypically a degree in finance, economics, or related fields; certifications like FRM or CFASimilar credentials, often CFA or credit-specific certifications
Work EnvironmentFinancial institutions, trading desks, risk management departmentsBanks, lending institutions, credit agencies
Industry UsageCommonly used in investment banks, asset managers, and hedge fundsUsed across banking, lending, and credit risk sectors

While both roles require strong financial knowledge and certifications like CFA, Market Risk professionals focus on analyzing risks from market fluctuations, whereas Credit Analysts evaluate the creditworthiness of borrowers. Both roles are vital in financial institutions but serve different risk management functions.

What are the most commonly searched types of Market Risk jobs in Illinois? The most popular types of Market Risk jobs in Illinois are:
What are popular job titles related to Market Risk jobs in Illinois? For Market Risk jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Market Risk jobs in Illinois look for? The top searched job categories for Market Risk jobs in Illinois are:
Market Risk jobs near you
Infographic showing various Market Risk job openings in Illinois as of June 2026, with employment types broken down into 1% As Needed, 82% Full Time, 13% Part Time, 1% Temporary, 2% Contract, and 1% Nights. Highlights an 87% Physical, 4% Hybrid, and 9% Remote job distribution, with an average salary of $104,977 per year, or $50.5 per hour.
Director Market Risk & Earnings Analysis

Director Market Risk & Earnings Analysis

Federal Home Loan Bank of Chicago

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 27 days ago

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.
  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

Who we are
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
What it's like to work here
At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.
What you'll do
Responsible for Management of market, including liquidity and income at risk modeling and analysis team as part of Bank's second line of defense. The Director, Market Risk and Earnings Analysis will be responsible for designing and implementing a market and income at risk manaegment framework, which comprises the Bank's approaches to market including liquidity and income at risk governance, identification, assessment, management, and mitigation. The market and income at risk management frameworks ensure that member products and asset/liability management risk-taking is well-understood, well-governed and appropriately managed. Your leadership skills will be crucial in fostering a culture of transparency, compliance, and accountability, making a significant impact on our continued success and reputation in the industry. The ideal candidate for this role must have a proven track record in of re-engineering operational processes, and possess strong leadership abilities This role has direct reports.
How you'll make an impact
  • Provide strong second-line oversight of market, liquidity and income-at-risk exposures by delivering sophisticated analysis and effective challenge on balance sheet, liquidity, and earnings risks to strengthen the Bank's risk governance and financial resilience.
  • Enable strategic decision-making at the executive and Board level by delivering robust modeling, forecasting, and stress testing insights that inform capital planning, product strategy, and CFO-led strategic planning processes.
  • Drive operational excellence and innovation in risk analytics by leading model development and analytics teams, modernizing processes and automation, and providing independent, data-driven challenge to emerging risks, new products, and evolving market conditions.

What you'll do
  • Responsible for Market including Liquidity and Income at Risk oversight and risk limit establishment, monitoring, assessment and reporting.
  • Oversee team of model developers responsible for operation, maintenance, model calibration and tuning, performance monitoring and controls around the Bank's mission critical models used for valuation, forecasting and risk modeling and the Bank's market data.
  • Owner of critical vendor relationships: market risk data, valuation/pricing, and risk modeling
  • Responsible for sign off for new product implementations from a valuation, forecasting and risk modeling perspective and oversee development and user acceptance testing.
  • Oversee analytics team responsible for monitoring and evaluating portfolio concentration, adverse market trends, value at risk analysis and preparing independent risk and attribution analyses.
  • Collaborate with Executive Team, business units and other departments in Risk Management, in developing and supporting key assumptions and scenarios and preparing forecasts to support the CFO who leads the annual Strategic Planning process.
  • Support the CFO's Strategic Planning department in income at risk scenario/stress analysis, forecasts, capital planning, and evaluating incentive compensation plan balance sheet and income criteria and metrics.
  • Collaborate with business units and other departments in Risk Management to design, performs and reports stress testing and scenario analysis results to Senior Management and the Board
  • Assess impacts on the Bank's risk process for new products, investments and hedging strategy implementation involving interdepartmental teams. Use market and income at risk tools and market data to analyze range of outcomes, provide insights and alternate viewpoints as new strategies are being formed by Management.
  • Develop and monitor key risk indicators to provide early warning of potential issues in changing environment and effectively challenge.
  • Primary contact for Bank regulators for issues associated with Market and Income at Risk Management
  • Active committee member of internal committees: Asset/Liability Management
  • Reports to Board and Senior Management any changes to Bank's balance sheet market, liquidity, and income risk profile that can adversely impact business decision making, significant balance sheet concentrations, and any material modeling/assumption changes.
  • Regularly reviews regulatory reporting requirements pertaining to Market, Liquidity, and Income at Risk
  • Develop and deliver market risk training for the Board
  • Provide strong leadership and mentorship to the team, promoting a collaborative and purposeful work environment.
  • Foster a culture of continuous learning and encourage team members to stay updated on industry trends and changes in regulatory and business requirements.
  • Lead process workflow automation and application modernization
  • Other duties as assigned.

What you'll bring
  • 15+ years of experience in risk management, risk modeling or fixed income capital markets.
  • 5-10 years mortgage finance or Banking operations experience
  • 8+ years management experience
  • Advance degree in finance, mathematics, or science
  • FRM/CFA or other designation.
  • Must have effective communication (verbal, written) skills.
  • Knowledge of fixed income products
  • Strong quantitative/analytical skills
  • Analytical, initiative-taker
  • Strategic thinking

The Perks
At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.
  • Strong problem solving and decision making abilities.
  • Technology and project management skills

Salary Range:
$217,550.00 - $382,325.00
The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

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