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Overnight Bank Risk Management Jobs in Illinois (NOW HIRING)

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Wintrust provides community and commercial banking, specialty finance and wealth management ... Provide independent model risk management and support for the VP of Model Risk as follows: Model ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Wintrust provides community and commercial banking, specialty finance and wealth management ... Provide independent model risk management and support for the VP of Model Risk as follows: Model ...

Wintrust

Risk Management Analyst

Northbrook, IL · On-site

$20.19 - $26/hr

... or Management. The associate will make informed decisions based on Risk evaluation criteria ... Conduct bank references, market references and policy/funding verifications on necessary entity ...

Wintrust

Risk Management Analyst

Northbrook, IL

... or Management. The associate will make informed decisions based on Risk evaluation criteria ... Conduct bank references, market references and policy/funding verifications on necessary entity ...

Servbank

AVP, Banking Risk & Controls

Bourbonnais, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Oswego, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Bourbonnais, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Watseka, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Watseka, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Oswego, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Danville, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank

AVP, Banking Risk & Controls

Danville, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Servbank, sb Inc.

AVP, Banking Risk & Controls

Oswego, IL · On-site

$94K - $110K/yr

Description The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in ...

Servbank

AVP, Banking Risk & Controls

Oswego, IL · On-site

$94K - $110K/yr

The position is responsible for overseeing and managing the banking risk and controls framework within Deposit Operations across both commercial and consumer lines of business, in partnership with ...

Fifth Third

Credit Risk Officer II

Chicago, IL · On-site

Discover a career in banking at Fifth Third Bank. GENERAL FUNCTION: Pursuant to the Bancorp Risk Framework, executes credit risk management strategies and policies, exercising independent judgement ...

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Overnight Bank Risk Management information

What is the difference between Overnight Bank Risk Management vs Credit Risk Analyst?

AspectOvernight Bank Risk ManagementCredit Risk Analyst
CredentialsRelevant risk management certifications, finance degreesFinance or economics degrees, risk certifications
Work EnvironmentBank risk departments, 24/7 operationsBanking institutions, analytical settings
Employer & IndustryCommercial banks, investment banksCommercial banks, credit institutions
Comparison Search IntentUnderstanding risk management roles in bankingAssessing credit risk and analysis

Overnight Bank Risk Management focuses on monitoring and mitigating risks that occur during overnight trading and operations, ensuring bank stability. Credit Risk Analysts primarily evaluate the creditworthiness of borrowers to prevent loan defaults. While both roles involve risk assessment and require finance-related credentials, Overnight Bank Risk Management emphasizes operational risk during off-hours, whereas Credit Risk Analysts concentrate on credit exposure and lending decisions.

Is overnight bank risk management a good career?

Overnight bank risk management is a specialized role focused on monitoring and mitigating financial risks during off-hours, often requiring strong analytical skills and knowledge of financial regulations. It can offer stable employment, competitive salaries, and opportunities for advancement within banking and financial institutions. Success in this field typically depends on relevant experience, certifications such as FRM or CFA, and the ability to work under pressure during non-standard hours.
What are the most commonly searched types of Bank Risk Management jobs in Illinois? The most popular types of Bank Risk Management jobs in Illinois are:
Overnight Bank Risk Management jobs near you

Risk Management Officer

Wintrust

Rosemont, IL • On-site

Full-time

Re-posted 8 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

73rd of 170 rated banks

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."
Location:
Job location - Rosemont, IL- Hybrid position with some telecommuting flexibility, but requirement to physically be in Rosemont, IL office three days a week.
Responsibilities:
Provide independent model risk management and support for the VP of Model Risk as follows:
Model Validation
  • Perform independent and comprehensive validation of bank-wide statistical/econometric/ mathematical/qualitative (expert judgment) models for stress testing, asset allocation, valuation and pricing, BSA/AML in compliance with SR 11-7/OCC 2011-12 and Model Risk Management (MRM) policy and procedures.
  • Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity, and performance accuracy, including back testing, sensitivity analysis, scenario analysis, benchmarking, and governance.
  • Provide effective and meaningful challenge during the following processes of model validation: Review of conceptual soundness; Review adequateness of modeling data; Materiality analysis of model assumptions and limitations; Review of model theoretical framework and design; Review of model performance.
  • Review of Model Documentation to ensure compliance with regulation/policy. Model documentation review should consist, amongst others, the following: Assessing the quality of model documentation; Reviewing documentation of developmental evidence; Review documentation of model governance; Review testing results in the model methodology document.
  • Design and execute a comprehensive and granular program for the following: Data Validation; Model theoretical framework and design; Assumptions and Limitations testing; Model

Conceptual soundness; Back-testing; Model Effectiveness Testing, Sensitivity Analysis; and Benchmarking for material portfolios.
  • Perform ongoing monitoring of all the models in line with the validation calendar and monitor the performance of those models through statistical tests. Evaluate the model adjustments, such as overlays and buffers, wherever applicable.

Ongoing Process Management, Enhancement and Updates
  • Contribute to enhancing current processes for model validation.
  • Manage activities related to model governance and assist VP model risk management in creating reports for the senior management, executive management, risk committees, and regulatory exams.
  • Manage and update model risk policies, standards, and procedures continually to ensure compliance with both management and regulatory requirements. Assist VP- MRM in the growth and maturation of the model risk management framework.
  • Use the MRM Model Validation tool to perform model validation activities. Assists in the annual model certification process and maintain status updates from the model owners. Maintain and update the model inventory. Maintain status updates and facilitate resolution/escalations of issues in a timely fashion.

Stakeholder Management
  • In collaboration with the VP of Model Risk Management, interfaces with key stakeholders throughout the validation process to discuss the justification and reasoning behind validation and review findings.
  • In collaboration with VP, Model Risk Management, determine whether the response and remediation plan received from model owners and users in response to a finding adequately addresses the findings. Follow up with model owners to ensure findings are remediated in a timely manner.

AI and Risk Management Framework.
  • Execute a robust model risk management framework in line with industry best practices and expectations. Assist VP-MRM is executing the AI and Machine Learning risk management framework.

Others
  • Assist in special ad-hoc projects

Requirements:
Master's degree in Applied Economics, Statistics, Mathematics, Data Science or related field plus 2 years of related work experience.
The position requires experience in all of the following:
  • 2 years of experience working with financial products and associated risk management.
  • 2 years of experience with quantitative modeling in the financial industry using financial and economic data.
  • 2 years of experience in data handling skills using advanced statistical and numerical methods.
  • 2 years of experience with MS Office applications such as Word, Excel and PowerPoint to generate high-quality management reports.
  • 2 years of experience working with a changing regulatory environment, such as the OCC2011-12 guidance.
  • 2 years of experience with SAS and Python for statistical modeling and data handling.
  • 2 years of experience with one or more of the following (R, SQL, MATLAB, VBA)

Compensation
The estimated salary for this role is $101,949.99, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

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