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Quantitative Risk Analyst Intern Jobs in Wilmette, IL

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 ...

William Blair

Senior Risk Analyst

Chicago, IL · On-site

$100K - $115K/yr

Utilize enterprise risk management principles and methodologies to perform quantitative analysis such as risk grading, financial risk, rate of failure. * Collaborate with business partners to ...

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · Hybrid

Build and maintain quantitative risk models and analytics used to evaluate hedge fund investments - including factor and alpha decomposition, stress testing, and scenario analysis - working with ...

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 ...

Morningstar, Inc.

Lead Quantitative Analyst

Chicago, IL · On-site

$114K - $167K/yr

Use quant techniques, machine learning, portfolio construction, risk analytics, and statistical testing to turn investment ideas into durable, rules-based index methodologies. * Push the use of AI ...

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · On-site

$175K - $215K/yr

Build and maintain quantitative risk models and analytics used to evaluate hedge fund investments - including factor and alpha decomposition, stress testing, and scenario analysis - working with ...

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 ...

3M HEALTHCARE

Senior Financial Risk Analyst

Chicago, IL · On-site

$111 - $130/hr

Conduct deep‑drop quantitative analyses into liquidity risks emerging across the Robinhood ecosystem * Enhance and maintain liquidity risk models and forecasting frameworks to support proactive ...

DV Trading

Junior Quantitative Trader

Chicago, IL · On-site

DV is looking for a Junior Quantitative Trader to join our trading desk, where you will support live trading operations through quantitative analysis, execution support, and risk monitoring. This is ...

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All JobsQuantitative Risk Analyst Intern JobsQuantitative Risk Analyst Intern Jobs in Wilmette, IL

Quantitative Risk Analyst Intern information

See Wilmette, IL salary details

$61.7K

$102.9K

$138.2K

How much do quantitative risk analyst intern jobs pay per year?

As of Sep 4, 2026, the average yearly pay for quantitative risk analyst intern in Wilmette, IL is $102,886.00, according to ZipRecruiter salary data. Most workers in this role earn between $76,000.00 and $124,400.00 per year, depending on experience, location, and employer.

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 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 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 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 cities near Wilmette, IL are hiring for Quantitative Risk Analyst Intern jobs?

Cities near Wilmette, IL 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 Wilmette, IL as of August 2026, with employment types broken down into 1% As Needed, 85% Full Time, 12% Part Time, and 2% Contract. Highlights an 85% Physical, 5% Hybrid, and 10% Remote job distribution, with an average salary of $102,886 per year, or $49.5 per hour.

Principal Credit Risk Analyst

Alliant

Chicago, IL • On-site

$119K - $204K/yr

Full-time

Medical, Dental, Vision, Retirement

Re-posted 14 days ago

Key responsibilities

  • Use data and analytics to develop frameworks and strategies for loan origination, loss forecasting, capital planning, and CECL.

  • Review and monitor credit risk for existing accounts and recommend management strategies.

  • Drive analytical projects from inception to completion and communicate findings to management.

Alliant Insurance Services rating

8.7

Company rating: 8.7 out of 10

Based on 23 frontline employees who took The Breakroom Quiz

72nd of 315 rated insurance

Job description

In this hybrid role based at our Chicago Headquarters, you will provide data-driven insights and recommendations for the effective management of the risk-return trade-off across consumer lending portfolios such as credit cards, personal loans, auto loans, etc.. Lead significant workstreams and initiatives leveraging data and analytics. Build productive and constructive relationships with key partners across different functions including but not limited to business line managers, finance, compliance. Drive the development of analytical frameworks and strategies for loan origination, loss forecasting, capital planning and CECL. 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 frameworks and strategies for loan origination strategies, loss forecasting, capital planning and CECL.
  • Analyze origination risk factors and recommend improvements in underwriting criteria and loan product pricing to increase loan volumes within the risk appetite.
  • Review and monitor credit risk for existing accounts in open-ended lending products such as credit card, HELOCs, etc., and recommend line management strategies.
  • Support new data acquisition and guide less experienced analysts and other functional areas on current data intricacies.
  • Conduct third-party quarterly mortgage & consumer loan portfolio performance analysis.
  • Provide thought leadership and rule recommendations for loan origination system implementation and maintenance.
  • Assess the risk-adjusted profitability (NPV) of new originations across the portfolios managed.
  • Drive analytical projects of high complexity from inception to completion and provide guidance to less experienced analysts on specific projects.
  • Ensure effective communication with management and key stakeholders from other functional areas.
  • Complete credit risk analytics, which includes but is not limited to loan origination strategy, economic capital setting, credit loss modeling and mitigation, CECL implementation
  • Partner with other areas such as Loss Prevention & Recovery to enable sound collection strategies.
  • Collaborate with database administration to streamline two-way communication to ensure data quality.
  • Query the data warehouse and other databases to extract, summarize, and save relevant data.
  • Drive improvements in test set-up to more accurately assess effectiveness of proposed risk strategies and team up with other departments for project implementation.
  • Evaluate, implement, and monitor internally developed or third-party scoring solutions.
  • Present recommendations and findings to management
  • Develop 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 - Graduate Degree in Mathematics, Statistics, Quantitative Finance, Financial Engineering, Computer Science or related
  • Minimum - 6 Years of Analytics, Credit Risk or related

In Lieu of Education
  • 10 years of Analytics, Credit Risk or related

Compensation & Benefits:
Typical hiring range: $119,400.00 to $204,600.00 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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