ZipRecruiter

Log In

1

Quantitative Risk Analyst Jobs in Illinois (NOW HIRING)

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$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 ...

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 ...

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 ...

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 ...

Invesco

Junior Risk Analyst

Downers Grove, IL · On-site

... 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 ...

Allstate

Intermediate Quantitative Analyst

Chicago, IL · On-site

$124K - $165K/yr

This role is responsible for performing quantitative analysis and research within the Risk and Return group of Allstate Investments. The primary focus of this role is private markets research and ...

Fifth Third

Senior Quant Analyst-CCAR/CECL

Chicago, IL · On-site +1

Provide quantitative support throughout the Risk or Finance divisions. * Implementation, modeling ... Advanced degree in quantitative analytics, economics, statistics, engineering, or a related area.

next page

Showing results 1-20

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.
Specialist, Investment Risk

Specialist, Investment Risk

Northern Trust

Chicago, IL • On-site

$137K - $233K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

This job post has expired 1 day ago. Applications are no longer accepted.

Northern Trust rating

8.1

Company rating: 8.1 out of 10

Based on 26 frontline employees who took The Breakroom Quiz

Job description

About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
We are actively seeking a highly experienced Investment Risk specialist in Equity and Derivatives, to lead our independent risk management initiatives and contribute to the success of our investment strategies.
The key responsibilities of the role include:
  • Provide independent oversight to risks associated with equities, derivatives and quantitative strategies, ensuring alignment with organizational goals and risk appetite.
  • Lead efforts by identifying, analyzing, reporting and mitigating potential investment risks within established risk guidelines.
  • Understand and enhance risk models for equities and derivatives, utilizing advanced quantitative techniques to assess and manage risk exposure. Eg. Factor-based risk
  • Document policies, procedures and standards related to the investment risk oversight and governance of equities and derivatives.
  • Ensure compliance with regulatory requirements and industry standards related to equity and derivative investments, collaborating with legal and compliance teams.
  • Effectively communicate risk assessments, mitigation strategies, and performance insights to senior management, committees, board members, and external stakeholders.
  • Stay abreast of industry best practices and emerging trends in investment risk management, driving innovation and improvement in risk processes.
  • Collaborate closely with portfolio managers, traders, and other investment professionals to integrate risk management into the investment decision-making process
  • 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 activities, and ensures timely and accurate completion of work.

The successful candidate will benefit from having:
  • Bachelor's degree in Finance, Economics, or a related field; advanced degree (e.g., MBA, CFA) is highly desirable.
  • 10+ years of experience in investment risk management, with a focus on equities, derivatives and quantitative risk management.
  • Proven track record of successfully leading risk management efforts for equity and derivative portfolios in a complex and dynamic market environment.
  • Expertise and experience in risk models for equities and derivatives, utilizing quantitative methodologies.
  • In-depth knowledge of equity markets, derivatives, quantitative methods, financial instruments, and regulatory landscape.
  • Excellent communication and presentation skills, with the ability to convey complex concepts to diverse stakeholders.
  • Strategic mindset, with the ability to contribute and challenge the overall investment strategy of the organization

#LI-LK2, #LI-Hybrid
Salary Range:
$137,400 - 233,600 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.

What Northern Trust employees say

Pay

Benefits

Hours and flexibility

Workplace

Get the full story on Breakroom

Apply