ZipRecruiter

Log In

1

Quantitative Risk Management Jobs in Chicago, IL

Northern Trust

Specialist, Investment Risk

Chicago, IL · On-site

$137.40K - $233.60K/yr

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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL · Hybrid

$137.40K - $233.60K/yr

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 ...

Northern Trust

Specialist, Investment Risk

Chicago, IL

$137.40K - $233.60K/yr

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 ...

Bank of Montreal

Manager, Structural Market Risk

Chicago, IL · On-site

$88.80K - $165.60K/yr

Qualifications * 5-7 years of experience in Asset Liability Management, Market Risk Management or related quantitative risk domains. * Experience running the QRM Asset Liability Management Framework ...

next page

Showing results 1-20

People also search for

All JobsQuantitative Risk Management JobsQuantitative Risk Management Jobs in Chicago, IL

Quantitative Risk Management information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do quantitative risk management jobs pay per year?

As of May 27, 2026, the average yearly pay for quantitative risk management in Chicago, IL is $114,919.00, according to ZipRecruiter salary data. Most workers in this role earn between $92,700.00 and $132,900.00 per year, depending on experience, location, and employer.

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

To thrive as a Quantitative Risk Manager, you need strong analytical skills, expertise in statistics or mathematics, and typically a degree in finance, economics, or a quantitative discipline. Familiarity with risk modeling software, programming languages like Python or R, and industry certifications such as FRM or CFA is often required. Outstanding problem-solving abilities, attention to detail, and effective communication set top professionals apart in this role. These skills are crucial for accurately assessing financial risks, making informed decisions, and communicating complex findings to stakeholders.

How does a Quantitative Risk Management professional typically collaborate with other departments within a financial institution?

Quantitative Risk Management professionals frequently work closely with departments such as trading, finance, and compliance. They provide analytical support by developing risk models and stress-testing scenarios, ensuring that trading strategies and investment decisions align with the institution's risk appetite. Regular communication with IT teams is also common, as these professionals often need to implement or improve risk measurement tools and data systems. This cross-functional collaboration is essential for maintaining a robust risk management framework and responding effectively to emerging risks.

What is quantitative risk management?

Quantitative risk management is the process of using mathematical models, statistical techniques, and data analysis to identify, measure, and manage financial risks within an organization. Professionals in this field apply quantitative methods to assess potential losses from market movements, credit events, or operational failures, and help organizations make informed decisions to mitigate these risks. This approach is widely used in banking, insurance, asset management, and other financial sectors to ensure regulatory compliance and optimize risk-adjusted returns.

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

AspectQuantitative Risk ManagementQuantitative Analyst
Primary FocusAssessing and managing financial risksDeveloping models for investment strategies
CertificationsFRM, PRMCFA, CQF
Work EnvironmentFinancial institutions, risk departmentsInvestment banks, asset management firms
Key SkillsRisk modeling, regulatory knowledgeStatistical analysis, programming

Quantitative Risk Management focuses on identifying and mitigating financial risks within organizations, often requiring risk-specific certifications like FRM. In contrast, Quantitative Analysts develop models to support trading and investment decisions, emphasizing statistical and programming skills. Both roles are vital in finance but serve different strategic purposes.

What are popular job titles related to Quantitative Risk Management jobs in Chicago, IL? For Quantitative Risk Management jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Quantitative Risk Management jobs in Chicago, IL look for? The top searched job categories for Quantitative Risk Management jobs in Chicago, IL are:
Quantitative Risk Management jobs near you
Infographic showing various Quantitative Risk Management job openings in Chicago, IL as of May 2026, with employment types broken down into 3% As Needed, 75% Full Time, 9% Part Time, 1% Temporary, and 12% Contract. Highlights an 40% Physical, 5% Hybrid, and 55% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.
Quantitative Risk Management Consultant

Quantitative Risk Management Consultant

Software Guidance & Assistance

Chicago, IL

Other

Posted 6 days ago

Job description

Software Guidance & Assistance, Inc., (SGA), is searching for a Quantitative Risk Management Consultant for a CONTRACT assignment with one of our premier Financial Services clients in Chicago, IL.
Responsibilities:
  • The Quantitative Risk Team in the Risk Management Department is responsible for developing, analyzing, and back-testing models for clearing initiatives. Daily responsibilities include code release testing, historical data validation, margin and stress testing model validation, and portfolio back-testing. The candidate must have the ability to efficiently, effectively conduct research, analyze problems, formulate and implement solutions, and produce high quality results on time.
Required Skills:
  • Masters in Computer Science, Financial Engineering, Financial Mathematics, Mathematics, Physics, or a related discipline.
  • Superb quantitative and analytical background.
  • Excellent programming, communication, and documentation skills.
  • Knowledge of financial markets.

Preferred Skills:
  • Work experience or education in advanced quantitative risk modeling and knowledge of statistical models in risk management preferred.
  • Work experience or education in advanced derivatives modeling and knowledge of volatility models preferred.
  • Work experience or education in curve construction and data validation preferred.

SGA is a technology and resource solutions provider driven to stand out. We are a women-owned business. Our mission: to solve big IT problems with a more personal, boutique approach. Each year, we match consultants like you to more than 1,000 engagements. When we say let's work better together, we mean it. You'll join a diverse team built on these core values: customer service, employee development, and quality and integrity in everything we do. Be yourself, love what you do and find your passion at work. Please find us at .
#LI-NG1
SGA is an Equal Opportunity Employer and does not discriminate on the basis of Race, Color, Sex, Sexual Orientation, Gender Identity, Religion, National Origin, Disability, Veteran Status, Age, Marital Status, Pregnancy, Genetic Information, or Other Legally Protected Status. We are committed to providing access, equal opportunity, and reasonable accommodation for individuals with disabilities in employment, and our services, programs, and activities. Please visit our company to request an accommodation or assistance regarding our policy.

Apply