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Quantitative Risk Management Jobs in Chicago, IL

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · On-site

$175K - $215K/yr

... quantitative risk analysis - including alpha decomposition, stress testing, and optimization - to inform manager evaluation, position sizing, and asset allocation. This person will build and apply ...

Cboe Global Markets

Chief Risk Officer

Chicago, IL · On-site

Develop the quantitative risk methodology and requirement for the Clearinghouse margin model, stress testing, and default management in developing new products, ensuring risk methodologies remain ...

Cboe Global Markets

Chief Risk Officer

Chicago, IL

Develop the quantitative risk methodology and requirement for the Clearinghouse margin model, stress testing, and default management in developing new products, ensuring risk methodologies remain ...

Old Mission

Quantitative Trader (Options)

Chicago, IL

$150K - $200K/yr

Build desk tooling for pricing, risk management, and opportunity identification. * Manage a ... Work closely with other traders, quants and developers. * Leverage a sophisticated trading platform ...

Hobbsnews

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Key responsibilities include enabling Global Risk Management's data and analytical capabilities. Job expectations include working with senior modelers, risk managers, and technologists to understand ...

New

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Key responsibilities include enabling Global Risk Management's data and analytical capabilities. Job expectations include working with senior modelers, risk managers, and technologists to understand ...

US Bank

Quantitative Model Analyst - AML

Chicago, IL

The individual will partner closely with model owners, Model Risk Management, internal and external ... The ideal candidate will have experience evaluating quantitative models or monitoring frameworks in ...

ElectronX

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

... quantitative, and designed for the speed and complexity of energy markets. What will you be doing? Enterprise Risk Framework * Own the end-to-end risk management framework for the exchange and DCO.

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

... quantitative, and designed for the speed and complexity of energy markets. What will you be doing? Enterprise Risk Framework * Own the end-to-end risk management framework for the exchange and DCO.

Old Mission

Quantitative FX Trader

Chicago, IL · On-site

$150K - $225K/yr

This Quantitative FX Trader will report directly to a managing partner in Chicago. This trader must be able to demonstrate exemplary decision making skills in addition to superior risk management ...

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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 Aug 23, 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 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.

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 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.

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 can I do with a quantitative risk management degree?

A degree in quantitative risk management prepares individuals for roles such as risk analyst, risk manager, or financial analyst in banking, insurance, or investment firms. These roles involve assessing and mitigating financial risks using statistical models, data analysis, and tools like Excel, R, or Python. Certification programs like FRM or PRM can enhance career prospects.

What does a quantitative risk management do?

A quantitative risk management professional analyzes financial data and models to identify, measure, and mitigate potential risks to an organization. They use statistical tools, programming skills, and risk assessment techniques to develop strategies that minimize losses and ensure regulatory compliance.

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 August 2026, with employment types broken down into 1% As Needed, 84% Full Time, 13% Part Time, and 2% Contract. Highlights an 85% Physical, 3% Hybrid, and 12% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.

Investments Risk, Principal

GCM Grosvenor

Chicago, IL • On-site

$175K - $215K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 10 days ago

Job description

SUMMARY
GCM's Investments Risk team is seeking an experienced professional to help shape investment and portfolio decisions across the firm's hedge fund activity, using quantitative risk analysis - including alpha decomposition, stress testing, and optimization - to inform manager evaluation, position sizing, and asset allocation. This person will build and apply the risk tools and analytics underlying that work, and will contribute to both internal risk oversight and external investor reporting.
You'd be joining an established Investments Risk team that has already built out the firm's core proprietary risk and attribution models, optimization frameworks, alpha analysis, and client reporting infrastructure. This isn't a build-from-scratch mandate, but there is genuine room to evolve, expand, and re-architect that infrastructure as the platform and strategies evolve.
Much of the work is well-defined, but not all of it; at times that means identifying problems worth solving on one's own initiative, and at other times it means addressing a problem that has been identified but lacks a clear roadmap for resolution. In both cases, the role carries real autonomy in how issues are approached, rather than simply executing against a predefined plan. This is an asset for someone with strong initiative and a self-starter mentality, and a poor fit for someone who prefers fully specified assignments.
As an onsite/hybrid employee, you are expected to be in the office on Tuesdays, Wednesdays and Thursday.
RESPONSIBILITIES
  • 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 large, structured datasets (e.g., SQL, data lake environments) and using Python and AI-assisted tools as appropriate.
  • Contribute to risk and portfolio construction analysis to support manager evaluation and investment decisions.
  • Monitor and interpret risk exposures, factor trends, and capital markets conditions relevant to specific hedge fund strategies.
  • Partner with portfolio managers and Investment Committee on portfolio risk monitoring and construction decisions across GCM's hedge fund platform.
  • Design and deliver risk and performance reporting for internal use and investor and client transparency requests, including polished presentation materials.
  • Strong analytical insights and presentation skills may also create opportunities for direct investor engagement.

EDUCATION, SKILLS AND EXPERIENCE REQUIREMENTS
  • Bachelor's or Master's degree in a quantitative field (Computer Science, Mathematics, Statistics/Econometrics, Financial Engineering, or related), or equivalent technical experience or demonstrated quantitative aptitude.
  • 3-7 years of experience in investment analysis, risk management, or asset allocation, ideally with exposure to hedge fund or absolute return strategies.
  • Proficiency in Python and hands-on experience working with large structured datasets.
  • This role requires strong written and verbal communication skills, including the ability to translate technical analysis into clear conclusions for investment committees and clients.
  • Strong presentation skills - comfortable building and delivering polished materials in PowerPoint and other reporting formats.
  • High degree of ownership and initiative, with the judgment to operate effectively where direction isn't always fully specified.
  • Comfortable representing Investments Risk directly in interactions with other teams and senior stakeholders - this is not a role centered on working in isolation on models and code.

In terms of cultural fit, the successful candidate will be self-motivated and energized by working amongst a group of thoughtful, smart and successful colleagues. The candidate will enjoy being part of an organization focused on excellence and will be a naturally collaborative person who enjoys interacting with individuals at all levels. Additionally, the candidate will be a strong team player with a proactive approach and the ability to exercise discretion and judgment.
Actual base salary may vary based on factors such as individual's experience, skills, and qualifications for the role. Employees may be eligible for a discretionary bonus based on factors such as individual, team, and company performance as well as a comprehensive benefits package.
CHICAGO ANNUAL PAY RANGE
$175,000-$215,000 USD
ABOUT THE FIRM
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $97 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies.
The firm has specialized in alternatives for more than 54 years and has a diverse, engaged team of approximately 560 professionals serving a global client base. Eligible employees can elect to participate in comprehensive healthcare coverage (including medical, dental, vision and life insurance), flexible spending accounts, and the employer sponsored retirement plan. Additionally, employees are eligible for paid time off, parental leave, short-term and long-term disability, as well as other care/wellness programs.
The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul, and Sydney. For more information, visit: gcmgrosvenor.com.
EQUAL OPPORTUNITY EMPLOYER M/F/D/V

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