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Quantitative Risk Analyst Intern Jobs in Illinois

Alliant

Senior Credit Risk Analyst

Chicago, IL · On-site

$84K - $131K/yr

... analytical frameworks for loan origination and loss forecasting ... Review relevant data to identify the quantitative and qualitative factors driving the credit risk ...

Alliant

Principal Credit Risk Analyst

Chicago, IL · On-site

$119K - $204K/yr

Analyze data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Essential Responsibilities * Use data and analytics to develop analytical ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance ... quantitative field. * 5+ years of experience in catastrophe modeling, natural hazard risk research ...

tms

Procurement Analyst Intern

Chicago, IL · On-site

$20/hr

The team this intern will report to is a group of "team first" problem solvers responsible for ... Supply Chain Risk Management * Support Global Supply Chain Risk Assessment efforts by mapping ...

tms

Procurement Analyst Intern

Chicago, IL · On-site

$20/hr

The team this intern will report to is a group of "team first" problem solvers responsible for ... Supply Chain Risk Management * Support Global Supply Chain Risk Assessment efforts by mapping ...

Invesco

Junior Risk Analyst

Downers Grove, IL · Hybrid

... and quantitative skills, with interest in benchmarking, performance measurement, and attribution, as well as portfolio risk (e.g., factor exposures, volatility, drawdowns, tracking error, sector ...

DRW

Venture Capital Analyst Intern

Chicago, IL · On-site

$80K/yr

As a Venture Capital Analyst Intern, you will collaborate with the investment team to research key ... Underwrite and evaluate investments based on risk and return fundamentals * Assist with deal ...

FINRA

Principal Analyst, Risk Monitoring

Chicago, IL · Hybrid

$112K - $211K/yr

What You'll Do * Lead risk monitoring activities for complex and elevated-risk member firms ... Intermediate-to-advanced quantitative and analytical problem-solving skills, including the ability ...

New

US Bank

Quantitative Model Analyst - AML

Chicago, IL · On-site

The individual will partner closely with model owners, Model Risk Management, internal and external ... Experience working with quantitative models, analytics, or monitoring frameworks in a regulated ...

Optiver

Quantitative Intern (Summer 2027)

Chicago, IL · On-site +1

As a Quantitative Intern at Optiver, you'll work alongside traders, researchers, and engineers to ... Analyze complex datasets, investigate market behavior, and uncover insights that inform decision ...

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All JobsQuantitative Risk Analyst Intern JobsQuantitative Risk Analyst Intern Jobs in Illinois

Quantitative Risk Analyst Intern information

What are the key skills and qualifications needed to thrive as a quantitative risk analyst intern, and why are they important?

To thrive as a Quantitative Risk Analyst Intern, you need a solid background in mathematics, statistics, and finance, often supported by progress toward a relevant degree such as finance, economics, or applied mathematics. Familiarity with programming languages like Python or R, statistical analysis tools, and risk management platforms such as SAS or MATLAB is typically expected. Strong analytical thinking, attention to detail, and effective communication skills help interns interpret complex data and present findings clearly. These skills are crucial for accurately assessing risks, supporting data-driven decision-making, and contributing to effective risk management strategies.

What does a quantitative risk analyst intern do?

A Quantitative Risk Analyst Intern supports the risk management team by analyzing financial data, building statistical models, and assessing potential risks that could impact an organization. They use mathematical and statistical techniques to identify, measure, and monitor risks associated with investments, market movements, or operational activities. Interns often help with data collection, programming (using tools like Python, R, or Excel), and preparing reports for senior analysts. This role provides valuable hands-on experience in applying quantitative methods to real-world financial risk scenarios.

What is the difference between Quantitative Risk Analyst Intern vs Quantitative Risk Analyst?

AspectQuantitative Risk Analyst InternQuantitative Risk Analyst
Required credentialsTypically pursuing or recent graduate with a degree in finance, economics, or related fieldBachelor's or master's degree in a relevant field, often with some professional experience
Work environmentInternship setting, often part-time or summer program within financial institutionsFull-time role within banks, investment firms, or insurance companies
Employer and industry usageUsed in internship programs across finance and risk management firmsStandard position in risk management departments of financial services

The main difference between a Quantitative Risk Analyst Intern and a Quantitative Risk Analyst is experience level and responsibility. Interns are typically students gaining exposure, while analysts are full-time professionals responsible for assessing and managing risk strategies.

What types of projects and responsibilities can a quantitative risk analyst intern expect during their internship?

As a Quantitative Risk Analyst Intern, you can expect to work on projects involving data analysis, risk modeling, and validation of existing financial models. You may assist in stress testing portfolios, researching risk factors, and automating data processes under the guidance of senior analysts. Interns typically collaborate closely with risk management, trading, and IT teams, gaining hands-on experience with industry-standard tools and methodologies. This role offers an excellent opportunity to develop technical skills and an understanding of how risk is measured and managed in financial institutions.

What are the most commonly searched types of Quantitative Risk Analyst jobs in Illinois?

The most popular types of Quantitative Risk Analyst jobs in Illinois are:

What are popular job titles related to Quantitative Risk Analyst Intern jobs in Illinois?

For Quantitative Risk Analyst Intern jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Quantitative Risk Analyst Intern jobs in Illinois look for?

The top searched job categories for Quantitative Risk Analyst Intern jobs in Illinois are:

What cities in Illinois are hiring for Quantitative Risk Analyst Intern jobs?

Cities in Illinois with the most Quantitative Risk Analyst Intern job openings:

Quantitative Risk Analyst Intern jobs near you
Infographic showing various Quantitative Risk Analyst Intern job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 10% Part Time, and 2% Contract. Highlights an 87% Physical, 5% Hybrid, and 8% Remote job distribution.

Senior Credit Risk Analyst

Alliant

Chicago, IL • On-site

$84K - $131K/yr

Full-time

Medical, Dental, Vision, Retirement

Re-posted 8 days ago

Job description

In this hybrid role based at our Chicago Headquarters, you will develop and review credit policies and strategies as well as data and analytical frameworks for loan origination and loss forecasting. Review relevant data to identify the quantitative and qualitative factors driving the credit risk for consumer & mortgage loans. Perform evaluation, implementation and monitoring of third-party and in-house scoring solutions. Perform model and strategy testing and assist with audit/regulatory requests. Work cross-functionally with other teams such as Advanced Analytics, Lending, Loan Servicing, Marketing, Finance, and Data Service teams, preparing underwriting and account management presentations to management for review and implementation.
Essential Responsibilities
  • Analyze origination risk factors and recommend/implement improvements in areas such as underwriting criteria, lending policies and standards, and loan product pricing to increase loan volumes within the risk appetite.
  • Review and monitor credit risk for credit cards, and recommend/implement line management, pricing and authorization strategies.
  • Prepare data for third-party quarterly mortgage & consumer loan portfolio performance analysis.
  • Provide support and rule recommendations for loan origination system implementation and maintenance.
  • Provide data and analytics support to assess risk with respect to future new and enhanced lending products as well as potential loan trading transactions.
  • Assess analytics including but not limited to economic capital analysis, credit loss modeling and mitigation, CECL implementation.
  • Query the data warehouse and other databases with tools such as SAP Business Objects / Microsoft SQL Server Management Studio to extract, summarize, and save relevant data.
  • Drive improvements by utilizing statistical techniques in test set-up to more accurately assess effectiveness of proposed risk strategies.
  • Work with other teams such as Advanced Analytics to design and build predictive models in tools such as Python/R/SAS.
  • Evaluate, implement, and monitor third-party scoring solutions.
  • Prepare supporting information and present findings to management.
  • Generate periodic reports for audit and regulatory compliance and assist with ad hoc requests.
  • Help formulate and revise credit policies and procedures to address new regulations.

Education & Years of Experience
  • Minimum- 4 Year Bachelors Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Preferred - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Engineering, Computer Science or Related
  • Minimum - 3 Years Experience in credit risk analytics within financial services

In Lieu of Education
  • 5 Years Experience in credit risk analytics within financial services

Compensation & Benefits:
Typical hiring range: $84,200.00 to $131,000.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.
Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:
  • Annual performance bonus
  • Work from home up to 3 days a week
  • Paid parental leave
  • Employee discount programs
  • Time off including paid personal and sick days
  • 11 paid holidays
  • Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.
Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.
The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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