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Portfolio Risk Management Internship Jobs in Illinois

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

The ideal candidate will act as a strategic partner to the investment team, providing actionable insights on portfolio construction, diversification, and downside risk management. Essential Duties ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL

$80K - $133K/yr

The ideal candidate will act as a strategic partner to the investment team, providing actionable insights on portfolio construction, diversification, and downside risk management. Essential Duties ...

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

The ideal candidate will act as a strategic partner to the investment team, providing actionable insights on portfolio construction, diversification, and downside risk management. Essential Duties ...

Bank of Montreal

Data Management Risk Officer

Chicago, IL · On-site

$102K - $190K/yr

Provide effective challenge and independent oversight across data management and regulatory analytics by leading self-assessments and compliance reviews, assessing portfolio risk exposure, and ...

Cedar Cares, Inc

Chief Risk Officer

Chicago, IL · On-site

$259.25 - $320.25/hr

Hands‑on experience with post‑trade operational workflows, FCM risk management, CCP risk management, or portfolio risk modeling. * Experience with regulatory relations and operating within legal ...

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Portfolio Risk Management Internship information

What is the difference between Portfolio Risk Management Internship vs Portfolio Risk Analyst?

AspectPortfolio Risk Management InternshipPortfolio Risk Analyst
CredentialsTypically pursuing or recent graduate, some finance or risk-related courseworkBachelor's or master's in finance, economics, or related field; relevant certifications preferred
Work EnvironmentInternship setting, supervised, entry-level tasksFull-time professional role, responsible for analyzing and managing risk
Employer & IndustryFinancial firms, asset managers, banksFinancial institutions, investment firms, asset management companies
Search & Comparison IntentEntry-level, internship opportunities, learning rolesFull-time career positions, risk analysis roles

The main difference is that a Portfolio Risk Management Internship is an entry-level, temporary position designed for students or recent graduates gaining exposure to risk management. In contrast, a Portfolio Risk Analyst is a full-time professional responsible for ongoing risk assessment and management within financial firms. Internships often serve as a stepping stone toward a full analyst role.

What are the key skills and qualifications needed to thrive as a Portfolio Risk Management Intern, and why are they important?

To thrive as a Portfolio Risk Management Intern, you need strong quantitative analysis skills, a background in finance or economics, and proficiency in data interpretation. Familiarity with risk management software, Excel, and statistical tools such as Python or R is highly valued, along with coursework or certifications in risk or investment management. Attention to detail, problem-solving abilities, and effective communication are important soft skills for collaborating with teams and presenting findings. These skills ensure accurate risk assessment, informed decision-making, and valuable support to the portfolio management process.

What types of projects and responsibilities can I expect during a Portfolio Risk Management Internship?

As a Portfolio Risk Management intern, you can expect to assist with analyzing financial data, identifying potential risks to investment portfolios, and supporting the development of risk mitigation strategies. Interns often work closely with senior analysts and portfolio managers, using quantitative tools to assess market and credit risk exposures. You may also help prepare risk reports and participate in meetings where findings are discussed. This hands-on experience offers valuable insight into how risk management decisions are made within investment teams.

What is a Portfolio Risk Management Internship?

A Portfolio Risk Management Internship is a temporary position, often for students or recent graduates, focused on supporting the risk management activities of an investment portfolio. Interns typically assist in analyzing financial data, identifying potential risks, and helping develop strategies to mitigate those risks within a portfolio of assets. This role provides hands-on experience with risk assessment tools, exposure to financial markets, and insights into how investment decisions are made. Interns may work closely with portfolio managers, analysts, and risk professionals to understand and manage the balance between risk and return.
What are the most commonly searched types of Portfolio Risk Management jobs in Illinois? The most popular types of Portfolio Risk Management jobs in Illinois are:
What are popular job titles related to Portfolio Risk Management Internship jobs in Illinois? For Portfolio Risk Management Internship jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Portfolio Risk Management Internship jobs in Illinois look for? The top searched job categories for Portfolio Risk Management Internship jobs in Illinois are:
What cities in Illinois are hiring for Portfolio Risk Management Internship jobs? Cities in Illinois with the most Portfolio Risk Management Internship job openings:
Portfolio Risk Management Internship jobs near you
Infographic showing various Portfolio Risk Management Internship job openings in Illinois as of July 2026, with employment types broken down into 2% Internship, 73% Full Time, 22% Part Time, 1% Temporary, and 2% Contract. Highlights an 88% Physical, 1% Hybrid, and 11% Remote job distribution.

Manager, Consumer Risk Portfolio Management

BMO Capital Markets

Chicago, IL • On-site

$74K - $138K/yr

Full-time

Medical, Life, Retirement

Posted 16 days ago

Job description

Application Deadline:

07/30/2026

Address:

320 S Canal Street

Job Family Group:

Data Analytics & Reporting

The Manager, Portfolio Risk Management is responsible for independent risk oversight and early risk identification across consumer lending portfolios (e.g., Credit Cards, Mortgage/HELOC, Direct Lending, Indirect/RV/Marine, Small Business).

This role focuses on:

  • Proactive identification of emerging credit risks
  • Portfolio analytics and risk segmentation
  • Oversight of business strategies against risk appetite
  • Development of actionable insights to inform senior management and regulatory reporting

The ideal candidate brings strong quantitative skills, deep knowledge of consumer credit risk, and hands-on experience with modern analytics and data tools.

Key Responsibilities1. Risk Identification & Portfolio Oversight (Primary Focus)
  • Monitor portfolio performance to identify emerging credit risks, adverse trends, and concentration exposures
  • Develop and track key risk indicators (KRIs), early warning indicators, and portfolio triggers
  • Conduct deep-dive analyses (vintage, segmentation, roll rates, loss drivers, score band performance)
  • Provide independent challenge to business strategies (growth, underwriting, pricing, line management, collections)
  • Assess alignment with risk appetite, credit policy, and regulatory expectations
2. Portfolio Analytics & Insights
  • Analyze portfolio data to generate actionable insights on risk/return trade-offs
  • Support loss forecasting, capital, and stress scenario analysis
  • Identify drivers of delinquencies, charge-offs, and credit migration
  • Perform ad-hoc analysis to support senior management, regulators, and business partners
3. Risk Reporting & Governance
  • Develop and enhance risk reporting frameworks for management and regulatory stakeholders
  • Ensure reporting is accurate, timely, and aligned with regulatory standards (e.g., OCC, CECL, Basel where applicable)
  • Lead preparation of portfolio risk summaries, dashboards, and executive materials
  • Support internal and external audits/examinations with clear documentation and defensible analytics
  • Ensure strong data governance, controls, and reconciliation processes
4. Data, Tools & Infrastructure
  • Work with large datasets from loan systems, bureau data, and payment platforms
  • Build and maintain reporting solutions using tools such as:
    • SQL / SAS / Python / R (data extraction and analytics)
    • Tableau / Power BI (dashboarding & visualization)
    • Excel
  • Partner with data owners to ensure data quality, completeness, and usability
  • Contribute to automation and efficiency improvements in reporting and analytics workflows
5. Cross-Functional Risk Oversight
  • Act as a trusted advisor to business, finance, model risk, and collections teams
  • Collaborate across functions to ensure consistent risk measurement and reporting
  • Support strategic initiatives (e.g., new product launches, credit strategy changes, model implementation) from a risk perspective
QualificationsExperience & Education
  • 3-5+ years of experience in Consumer Credit Risk, Portfolio Management, or Risk Analytics
  • Experience across one or more products: Credit Cards, Mortgage/HELOC, Auto/RV/Marine, Personal Lending, Small Business
  • Bachelor's degree in Finance, Economics, Statistics, Mathematics, or related field (advanced degree preferred)
  • Strong knowledge of:
    • Credit risk metrics (delinquency, roll rates, loss rates, vintage, PD/LGD concepts)
    • Portfolio risk analytics and segmentation techniques
    • Risk reporting frameworks and KRIs
  • Hands-on experience with:
    • SQL, SAS, or Python
    • Data visualization tools (Tableau, Power BI)
  • Ability to work with large, complex datasets and translate into clear insights
  • Understanding of:
    • Consumer lending lifecycle and underwriting frameworks
    • CECL / IFRS9 concepts (preferred)
    • Regulatory expectations (e.g., OCC guidance, SR letters, model governance principles)
  • Experience supporting audit or regulatory reviews is a plus
  • Strong analytical thinking and problem-solving
  • Ability to identify risks early and escalate effectively
  • Clear, concise communication of complex risk insights to senior stakeholders
  • Proven ability to independently own analyses and deliver under tight timelines

Salary:

$74,000.00 - $138,000.00

Pay Type:

Salaried

The above represents BMO Financial Group's pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.

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