ZipRecruiter

Log In

1

Quantitative Risk Analyst Jobs in Illinois (NOW HIRING)

Alliant

Principal Credit Risk Analyst

Chicago, IL · Hybrid

$119.40K - $204.60K/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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$137.40K - $233.60K/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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · Hybrid

$137.40K - $233.60K/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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL

$137.40K - $233.60K/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

$119.40K - $204.60K/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 ...

ComEd

Quantitative Analyst

Oakbrook Terrace, IL · On-site

Primary Purpose The Quantitative Analyst for the Utility of the Future will design and develop ... pricing, risk management, and overall strategic planning for innovative utility platform ...

Calamos Investments LLC

Quantitative Analyst

Naperville, IL · On-site +1

$110K/yr

Back test models and support risk management and product development efforts, specifically, work in ... Conducting statistical analysis, quantitative research, and testing to improve portfolio management ...

Calamos Investments

Quantitative Analyst

Naperville, IL · On-site

$110K/yr

Back test models and support risk management and product development efforts, specifically, work in ... Conducting statistical analysis, quantitative research, and testing to improve portfolio management ...

Bank of Montreal

Manager, Structural Market Risk

Chicago, IL · On-site

$88.80K - $165.60K/yr

Conduct quantitative analyses to support FTP rate components, including option costs, prepayment ... Lead responses to review and challenge from Market Risk, Model Risk, Internal/External Audit, and ...

Robinhood

Senior Financial Risk Analyst

Chicago, IL · On-site

$111K - $130K/yr

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

next page

Showing results 1-20

People also search for

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 May 28, 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 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 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 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 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 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
Risk Analyst Income Simulation

Risk Analyst Income Simulation

Federal Home Loan Bank of Chicago

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 6 days ago

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.
  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

Who we are
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
What it's like to work here
At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.
What you'll do
In this role you will interact with stakeholders across the organization, such as business development and balance sheet management teams, to model the future income of the Bank. Key responsibilities include overseeing, monitoring, and reporting on the Bank's income forecast, retained earnings growth, dividend ability and balance sheet compliance. You will perform income at risk modeling and analysis, limits monitoring and reporting.
How you'll make an impact
  • Enable strategic decision-making by delivering robust income at risk modeling, forecasting, and scenario analysis to support the Bank's balance sheet strategy and CFO-led planning processes.
  • Strengthen financial resilience and risk oversight by monitoring income forecasts, retained earnings, and risk exposures, ensuring alignment with regulatory expectations and management objectives.
  • Drive cross-functional insights and process efficiency by partnering with business units to refine assumptions, evaluate new products and hedging strategies, and improve forecasting and modeling processes.

What you can expect
  • Support income forecasting and risk analysis processes, to model the Bank's income at risk, risk exposures and sensitivity to each.
  • Lead the preparation and development of reporting and presentation for various internal committees and Board meetings.
  • Collaborate with business units to understand and refresh assumptions on future member activity and investment capacity.
  • Support the CFO in the annual Strategic Planning process by incorporating additional risk/stress scenarios in the income forecast process and risk analysis framework.
  • Collaborate with internal stakeholder on modelling changes and version upgrades to implement changes and assess income impact.
  • Collaborate with other departments on new product development, new investment consideration and hedge strategy implementation to assess income impact.
  • Assist in process re-engineering, model documentation and EUC(End-User Computing) maintenance
  • Other duties as assigned.

What you'll bring
  • 3-5 years of experience in ALM, risk management, risk modeling or fixed income capital markets.
  • Bachelor's degree in Accounting or a quantitative field (Mathematical Finance, Computational Finance, Computer Science, Finance, Statistics, and Mathematics). Master's degree preferred.
  • A designation of CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager) is a plus.
  • Strong written and verbal communication skills, including the ability to convey complex concepts.
  • Detail oriented, with strong problem-solving abilities and quantitative/analytical skills.
  • The ability to self-manage and work on multiple deliverables concurrently.
  • Proficient in Microsoft Office products such as Excel, PowerPoint, and Word.
  • Knowledge of VBA and one other programming language (Python, R) is a PLUS
  • Asset/Liability Management experience and exposure to fixed income securities and derivatives

The Perks
At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.
Salary Range:
$75,325.00 - $125,500.00
The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

Apply