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Quantitative Risk Analyst Jobs in Illinois (NOW HIRING)

William Blair

Risk Analyst

Chicago, IL · Hybrid

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 ...

SageSure

Catastrophe Risk Analyst

Chicago, IL · On-site

Ability to explain complex scientific or quantitative findings to non-technical audiences. * Strong team player with a collaborative mindset and attention to detail Highly preferred candidates also ...

William Blair

Risk Analyst

Chicago, IL · On-site

$77K - $95K/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 ...

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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · Hybrid

$137K - $233K/yr

Expand the use of quantitative risk analysis and export the best practices to other investment products. * Develops periodic goals, organizes the work, sets short-term priorities, monitors all ...

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All JobsQuantitative Risk Analyst JobsQuantitative Risk Analyst Jobs in Illinois

Quantitative Risk Analyst information

See Illinois salary details

$54.8K

$129.7K

$232.6K

How much do quantitative risk analyst jobs pay per year?

As of Jul 18, 2026, the average yearly pay for quantitative risk analyst in Illinois is $129,730.00, according to ZipRecruiter salary data. Most workers in this role earn between $108,000.00 and $141,000.00 per year, depending on experience, location, and employer.

What are some common challenges a Quantitative Risk Analyst faces when integrating new data sources into risk models?

Quantitative Risk Analysts often encounter challenges related to data quality, consistency, and compatibility when integrating new data sources into risk models. Ensuring that the data is accurate, timely, and relevant requires rigorous validation and sometimes complex data cleaning processes. Additionally, analysts must adapt existing risk models to accommodate new variables, which may involve re-calibrating parameters or even restructuring parts of the model. Effective collaboration with IT and data engineering teams is essential to streamline data integration and maintain model reliability.

What are the key skills and qualifications needed to thrive as a Quantitative Risk Analyst, and why are they important?

To thrive as a Quantitative Risk Analyst, you need strong analytical and mathematical skills, experience with statistical modeling, and typically a degree in finance, mathematics, statistics, or a related field. Proficiency in programming languages such as Python, R, or MATLAB, and familiarity with risk management systems and financial databases are important technical requirements. Attention to detail, problem-solving abilities, and effective communication are vital soft skills for explaining complex analyses to stakeholders. These skills are crucial for accurately identifying, measuring, and mitigating financial risks in dynamic market environments.

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

AspectQuantitative Risk AnalystCredit Risk Analyst
Required CredentialsDegree in finance, economics, or mathematics; certifications like FRM or CFADegree in finance, economics, or related; certifications like FRM or CFA often preferred
Work EnvironmentFinancial institutions, investment firms, risk management departmentsBanks, lending institutions, credit agencies
Employer & Industry UsageUsed across finance sectors for risk modeling and analysisPrimarily in banking and lending for assessing creditworthiness
Comparison Search IntentUnderstanding differences in risk analysis rolesDistinguishing credit-specific risk roles from broader risk analysis

While both roles involve risk assessment and require similar credentials, a Quantitative Risk Analyst focuses on modeling and analyzing various financial risks using quantitative methods across multiple risk types. In contrast, a Credit Risk Analyst specializes in evaluating creditworthiness and managing credit risk specifically within lending and banking sectors.

What is a Quantitative Risk Analyst?

A Quantitative Risk Analyst is a professional who uses mathematical models, statistical techniques, and data analysis to assess and manage financial risks within an organization. They typically evaluate potential losses from market movements, credit defaults, or operational failures and help develop strategies to mitigate those risks. Their work is crucial in industries such as banking, investment, insurance, and asset management, where understanding and controlling risk is essential for financial stability and compliance. Quantitative Risk Analysts often work with complex financial instruments and large datasets, requiring strong analytical and programming skills.
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 jobs in Illinois? For Quantitative Risk Analyst jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Quantitative Risk Analyst jobs in Illinois look for? The top searched job categories for Quantitative Risk Analyst jobs in Illinois are:
Quantitative Risk Analyst jobs near you
Infographic showing various Quantitative Risk Analyst job openings in Illinois as of July 2026, with employment types broken down into 1% Locum Tenens, 1% Internship, 88% Full Time, 5% Part Time, 1% Temporary, and 4% Contract. Highlights an 82% Physical, 5% Hybrid, and 13% Remote job distribution, with an average salary of $129,730 per year, or $62.4 per hour.
Junior Quantitative Risk Analyst

Junior Quantitative Risk Analyst

Akuna Capital

Chicago, IL

$90K/yr

Other

Medical, Dental, Vision, Retirement, PTO

Posted 10 days ago

Job description

About Akuna: 

Akuna Capital is an innovative trading firm with a strong focus on collaboration, cutting-edge technology, data driven solutions, and automation. We specialize in providing liquidity as an options market maker - meaning we are committed to providing competitive quotes that we are willing to both buy and sell. To do this successfully, we design and implement our own low latency technologies, trading strategies, and mathematical models.  

Our Founding Partners first conceptualized Akuna in their hometown of Sydney. They opened the firm's first office in 2011 in the heart of the derivatives industry and the options capital of the world - Chicago. Today, Akuna is proud to operate from additional offices in Sydney, Shanghai, London and Singapore. 

What you'll do as a Junior Quantitative Risk Analyst at Akuna: 

We are looking for a motivated and talented individual to join our growing Risk Department. This role is part of a major investment in measuring and controlling market and execution risks where you will work on new development projects at the intersection of trading, options theory and automation. This is a great opportunity for someone looking to grow and evolve with our firm! In this role, you will: 

  • Work as a part of a small Risk team and alongside Developers and Analysts to build efficient and smart protections around Akuna's trading
  • Collaborate with Developers to improve our risk infrastructure, implementing risk measures and automated reporting
  • Work directly inside Akuna's highly abstract and automated computational framework
  • Develop new ways to quantify risk and performance measures, working with market and historical data
  • Assist in the setting, testing and monitoring of internal, exchange and third-party trading system and positional limits 

Qualities that make great candidates: 

  • Finance experience or some knowledge of options theory
  • Programming experience (e.g., Python); SQL is preferred but not required
  • Numerical problem-solving and programming skills
  • Independent thinker, motivated with great attention to detail
  • A degree in a quantitative field, or evidence of mathematical and quantitative skill
  • The ability to react quickly and accurately to rapidly changing market conditions, including the ability to quickly and accurately respond and/or solve math and coding problems are essential functions of the role

In addition to technical skillsets, Akuna values the unique perspectives people can bring to the table to collaboratively solve complex problems and drive Akuna forward. We want everyone to feel empowered to apply. We welcome your application and encourage you to take the first steps toward your future with us!

In accordance with Illinois Equal Pay Act, the minimum base salary starts at $90,000. Exact compensation offered may vary based on many factors including, but not limited to, the candidate's experience, qualifications, and skill set. This role is also eligible for a discretionary performance bonus as part of the total compensation package and includes a comprehensive benefits package that may encompass employer-paid medical, dental, vision, retirement contributions, paid time off, and other benefits. The minimum base salary herein was determined in good faith by Akuna Capital LLC.

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