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

The EMAC Group

Mortgage Compliance Manager

Chicago, IL · On-site

... risk assessment issues. Essential Job Functions * The primary job function of the position is to ... Minimum of 5 years prior management experience within mortgage originations preferred. * Project ...

The EMAC Group

Mortgage Compliance Manager

Chicago, IL · On-site

... risk assessment issues. Essential Job Functions * The primary job function of the position is to ... Minimum of 5 years prior management experience within mortgage originations preferred. * Project ...

PNC Bank

Mortgage Loan Officer

Chicago, IL · On-site

$49K - $82K/yr

Managing Risk - Assessing and effectively managing all of the risks associated with their business ... Mortgage Products., Sales Tasks And Activities, Scheduling Work and Activities, Selling. Work ...

US Bank

Mortgage Retail Area Mgr NMLS

Chicago, IL

... risk assessment, mortgage operations, and knowledge of condo/co-op lending guidelines and project eligibility requirements. - Demonstrated new business development and relationship management skills ...

Key Mortgage Services

Compliance Manager

Schaumburg, IL · On-site

$80K - $100K/yr

The Compliance Manager oversees the core functions of Key Mortgage's compliance program, helping to ... Escalate unclear or higher-risk cases as needed. * Fulfill documentation requests for internal and ...

New

U.S. Bank

Mortgage Retail Area Mgr NMLS

Chicago, IL · On-site

... risk assessment, mortgage operations, and knowledge of condo/co-op lending guidelines and project eligibility requirements. - Demonstrated new business development and relationship management skills ...

Key Mortgage Services

Compliance Manager

Schaumburg, IL · On-site

$80K - $100K/yr

The Compliance Manager oversees the core functions of Key Mortgage's compliance program, helping to ... Escalate unclear or higher-risk cases as needed. * Fulfill documentation requests for internal and ...

New

Key Mortgage Services

Compliance Manager

Schaumburg, IL · On-site

The Compliance Manager oversees the core functions of Key Mortgage's compliance program, helping to ... Escalate unclear or higher-risk cases as needed. * Fulfill documentation requests for internal and ...

New

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

... management of the risk-return trade-off across consumer lending portfolios such as credit cards ... Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis. * Provide ...

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

Mortgage Risk Manager information

See Chicago, IL salary details

$48.4K

$124.3K

$244.1K

How much do mortgage risk manager jobs pay per year?

As of Aug 12, 2026, the average yearly pay for mortgage risk manager in Chicago, IL is $124,344.00, according to ZipRecruiter salary data. Most workers in this role earn between $75,700.00 and $163,800.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a mortgage risk manager?

To thrive as a Mortgage Risk Manager, you need a solid background in finance, risk assessment, and regulatory compliance, often supported by a degree in finance or a related field. Familiarity with risk modeling software, loan origination systems, and certifications such as FRM or CFA are commonly required. Analytical thinking, attention to detail, and strong communication help you excel at evaluating loan portfolios and collaborating with cross-functional teams. These skills ensure prudent risk management, regulatory adherence, and the financial stability of mortgage lending operations.

What are some common challenges faced by mortgage risk managers, and how can they be addressed?

Mortgage Risk Managers often encounter challenges such as assessing the creditworthiness of borrowers in a fluctuating market, keeping up with evolving regulatory requirements, and mitigating risks associated with loan defaults. To address these, professionals need to stay updated on industry regulations, leverage advanced data analytics tools, and work closely with underwriting and compliance teams. Proactive communication and ongoing training are also essential to navigate changes and ensure robust risk management practices.

What is the difference between Mortgage Risk Manager vs Mortgage Underwriter?

AspectMortgage Risk ManagerMortgage Underwriter
Primary RoleAssess and manage overall mortgage risk, develop risk policiesEvaluate individual loan applications for approval
Required CredentialsTypically requires risk management certifications, finance or related degreesOften requires mortgage licensing, underwriting certifications
Work EnvironmentCorporate offices, risk departments, financial institutionsLoan processing centers, banks, mortgage companies
Industry UsageUsed by lenders to mitigate risk at a strategic levelUsed by lenders to approve or deny individual loans

The Mortgage Risk Manager focuses on assessing and managing the overall risk profile of mortgage portfolios, developing policies to mitigate potential losses. In contrast, the Mortgage Underwriter evaluates individual loan applications to determine approval eligibility. While both roles require financial knowledge and relevant certifications, their scope and responsibilities differ significantly, with the Risk Manager working at a strategic level and the Underwriter at an operational level.

What does a mortgage risk manager do?

A Mortgage Risk Manager is responsible for identifying, assessing, and mitigating risks associated with mortgage lending within a financial institution. They analyze credit, market, and operational risks to ensure loans are compliant with regulations and company policies. Their role includes developing risk assessment models, monitoring loan portfolios, and implementing strategies to reduce potential losses. Additionally, they often collaborate with underwriters, compliance teams, and senior management to maintain the financial health of the mortgage business.
What are popular job titles related to Mortgage Risk Manager jobs in Chicago, IL? For Mortgage Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Mortgage Risk Manager jobs in Chicago, IL look for? The top searched job categories for Mortgage Risk Manager jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Mortgage Risk Manager jobs? Cities near Chicago, IL with the most Mortgage Risk Manager job openings:
Mortgage Risk Manager jobs near you
Infographic showing various Mortgage Risk Manager job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 84% Full Time, 13% Part Time, and 2% Contract. Highlights an 94% Physical, 2% Hybrid, and 4% Remote job distribution, with an average salary of $124,344 per year, or $59.8 per hour.

Mortgage Compliance Manager

The EMAC Group

Chicago, IL • On-site

Full-time

Re-posted 24 days ago

Job description

Company Description
The EMAC Group is a provider of mortgage recruiting services, we offer an extensive network of mortgage professionals and proven expertise developed over 20 years of experience identifying, attracting and recruiting mortgage talent for our clients.
Job Description
The Ideal Candidate will provide research, interpretation and guidance on all federal and state regulations impacting the mortgage lending business. Partnering with the Legal Department, this position will work with management and business units to ensure the company is in compliance with all applicable lending laws by providing hands-on direction. Additionally, this position will be responsible for managing others, and overseeing the origination compliance marketing reviews as well as generating and reviewing policies, procedures, and providing ongoing compliance training to all company employees. Including but not limited to annual certification training on all required compliance matters and risk assessment issues.
Essential Job Functions
  • The primary job function of the position is to provide essential compliance services for originations, including but not limited to, regulatory interpretation and implementation assistance, loan testing and quality control, and related management reporting. This position is responsible for providing compliance support related to federal and state laws regulation on a national basis for the company's originations.
  • Confirm that adequate policies and procedures exist regarding Compliance laws related to Originations
  • Confirm that to the extent systems are relied upon to automate compliance, they are working properly (testing)
  • Work closely with Originations Business Units and Legal to implement any required changes of law related to Originations processes
  • Perform reviews of all marketing pieces for the company to identify any Compliance implications
  • Serve as team member upon request to diligence acquisition targets for compliance issues related to originations
  • Work with Training and Leadership Development to confirm that job-specific training includes required Compliance elements
  • Responsible for confirming that through some combination of QA, First Line of Defense and Compliance, adequate review is conducted to confirm that policies and procedures related to Compliance are being followed
  • If errors are found, work with business units to determine root cause of compliance issues and to resolve them, through modified procedures, training, systems or disciplinary actions
  • Keep Senior Management fully apprised of status of projects and challenges to timely implementation

Qualifications
Required Education/Experience
  • Graduation from a 4-year college or university with major course work in the discipline related to the requirements of the position is preferred. Will consider the equivalent combinations of job experience & education that demonstrates the ability to perform the essential functions of this job.
  • Knowledge in all areas of compliance, careful attention to detail, and the ability to interpret state and federal regulations and has a strong familiarity with standard industry practices.
  • Prefer a background in mortgage originations or related fields.
  • Proficiency in working with MS Access, Excel, and Microsoft SQL to produce reports, financial models and business cases is a must.
  • Knowledge of TMO or other LOS systems is desirable.
  • Minimum of 5 years experience in financial/mortgage industry with an emphasis in financial institution compliance or audit.
  • Minimum of 5 years prior management experience within mortgage originations preferred.
  • Project management and presentation experience is desirable.
  • Experience with data analysis and data tracking and trending is desirable.
  • Proven ability to organize and manage special projects s may be required.

Additional Information
Please contact Tabitha Wolf at: 303-953-4748
EMAC Group logo

About EMAC Group

Sourced by ZipRecruiter

The EMAC (Employment Management Advisory Consulting) Group was founded in 2004 as a mortgage industry executive search and recruitment training platform. Our client-focused and candidate-centric approach is evident in your commitment to collaborating with clients and professionals to help them achieve their aspirations. With over 20 years of experience, The EMAC Group has accumulated a wealth of stories and insights from professionals we represent. Our client-focused and candidate-centric approach is evident in your commitment to collaborating with clients and professionals to help them achieve their aspirations. We recruit amazing people to help your business reach new heights. Our team’s approach of not depending on job boards but focusing on direct recruitment and attracting passive candidates who prioritize their career aspirations is a distinctive and effective strategy. Passive candidates, often highly qualified and experienced, can be a valuable asset to organizations seeking top talent.

Industry

Recruiting and staffing services

Company size

1 - 10 Employees

Headquarters location

Palm Harbor, FL, US

Year founded

2004

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