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Quantitative Risk Management Jobs in Chicago, IL

Apex Systems

Model Risk Management

Chicago, IL · On-site

Required Qualifications * 7+ years of experience in Model Risk Management, Model Governance, Model Validation, Quantitative Risk, or Enterprise Risk Management within banking or financial services.

GCM Grosvenor

Investments Risk, Principal

Chicago, IL · Hybrid

... 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 ...

Capital One

Director, Risk Management

Chicago, IL

Director, Risk Management Capital One, a Fortune 500 company and one of the nation's top 10 banks ... This individual should feel comfortable working with quantitative and qualitative information and ...

Capital One

Director, Risk Management

Riverwoods, IL · On-site

Director, Risk Management Capital One, a Fortune 500 company and one of the nation's top 10 banks ... This individual should feel comfortable working with quantitative and qualitative information and ...

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 ...

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Showing results 21-40

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 Sep 13, 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 September 2026, with employment types broken down into 1% As Needed, 82% Full Time, 15% Part Time, and 2% Contract. Highlights an 88% Physical, 2% Hybrid, and 10% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.

Risk Manager, Quantitative (United States)

Chicago, IL • Remote

Crypto.com
See more jobs at Crypto.comexternal

$100K - $230K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 10 days ago

Job description

We are looking for a quantitative Risk Manager to join our global exchange team, with a primary focus on the models: you will own the design, calibration, and validation of the margin, pricing, and liquidation frameworks that our FCM and clearing businesses run on. Alongside that, you will take part in the daily risk monitoring, escalation, and reporting that the whole team carries. You will be contributing to the building of a fast-growth trading platform with innovative, multi-asset products bridging traditional finance (TradFi) and digital markets. For all roles, we look for people who are passionate about financial market innovation, equipped with energy, act as owners, and have exemplary work ethics.


Responsibilities
  • Own margin methodology across the group, including SPAN, VaR, and portfolio-margining approaches, and benchmark our models against those used by the clearing houses and exchanges we face. 
  • Develop, implement, and validate derivatives pricing models for new and existing products across various asset classes (e.g., equities, commodities, futures, perpetuals, options).
  • Backtest margin coverage and document model performance, assumptions, and limitations to a standard that withstands regulatory and audit review.
  • Build and maintain the data pipelines and automated reporting behind the risk models, working in SQL, Python, and relational databases.
  • Monitor and analyze real-time and historical portfolio risk, including exposure, leverage, margin utilization, concentration, and liquidation.
  • Design optimal automated liquidation logic and algorithms to balance market risk with market impact during extreme volatility.
  • Perform scenario analysis and stress testing across a range of market conditions.
  • Provide risk input into product onboarding, listing reviews, and regular risk parameter reviews: haircuts, margin levels, liquidation thresholds, index pricing, funding rates, and position limits.
  • Analyze market microstructure on multi-asset derivative markets, periodically review and calibrate risk models according to evolving market conditions.
  • Support the build and maintenance of internal risk dashboards and analytical tools.
Requirements
  • 5+ years of relevant working experience in quantitative research, risk management, trading, or a related field. Exposure to daily risk operations is expected alongside the modelling work; regulator-facing experience is welcome but not required.
  • Master or PhD in a quantitative discipline (e.g., math, physics, statistics, engineering, computer science, financial engineering, quantitative finance, etc.).
  • Proficient in Python and SQL or noSQL data structures, data models, and database management.
  • Strong understanding of derivatives pricing theory across traditional and digital asset classes.
  • Deep understanding of Order Book Dynamics (L1-L3 data) and Cross/Portfolio-Margining methodologies (e.g., offsetting spot against futures).
  • Deep knowledge of equities, commodity products, macro assets, and ongoing developments in these spaces; thoroughly familiar with futures, perpetuals, or other derivative types.
  • Direct trading experience (personal or professional) is highly ideal, with a deep familiarity with margin concepts and liquidation mechanisms.
  • Experience at a broker-dealer, exchange, or clearing organization, with familiarity on how brokers and CCPs operate is a strong plus.
  • Think critically and strive for continuous improvement.
Life @ Crypto.com
Empowered to think big. Try new opportunities while working with a talented, ambitious and supportive team.
Transformational and proactive working environment. Empower employees to find thoughtful and innovative solutions.
Growth from within. We help to develop new skill-sets that would impact the shaping of your personal and professional growth.
Work Culture. Our colleagues are some of the best in the industry; we are all here to help and support one another.
One cohesive team. Engage stakeholders to achieve our ultimate goal - Cryptocurrency in every wallet. 
Work Flexibility Adoption. Flexi-work hour and hybrid set-up
Aspire career alternatives through us - our internal mobility program offers employees a new scope.  
 
Are you ready to kickstart your future with us? 
 
Benefits
Competitive salary
Attractive annual leave entitlement including: birthday, work anniversary
401(k) plan with employer match
Eligible for company-sponsored group health, dental, vision, and life/disability insurance
Work Flexibility Adoption. Flexi-work hour and hybrid set-up
Aspire career alternatives through us. Our internal mobility program can offer employees a diverse scope.  
 
Our Crypto.com benefits packages vary depending on region requirements, you can learn more from our talent acquisition team.
 
 
About Crypto.com:
Founded in 2016, Crypto.com serves more than 150 million customers and is the world's fastest growing global cryptocurrency platform. Our vision is simple: Cryptocurrency in Every Wallet™. Built on a foundation of security, privacy, and compliance, Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.
 
Learn more at https://crypto.com. 
 
Crypto.com is an equal opportunities employer and we are committed to creating an environment where opportunities are presented to everyone in a fair and transparent way. Crypto.com values diversity and inclusion, seeking candidates with a variety of backgrounds, perspectives, and skills that complement and strengthen our team.
 
Personal data provided by applicants will be used for recruitment purposes only.
 
Please note that only shortlisted candidates will be contacted.

We may use artificial intelligence tools to analyze the content of your Resume/CV against the specific requirements for the position. The purpose is to support our recruitment team in reviewing applications more effectively. These tools assist our recruitment team in their evaluation of your application by providing recommendations, but they do not replace human judgment. Final hiring decisions are ultimately made by humans who consider the insights generated by the tools along with other relevant information. If you would like more details about how your personal information is processed, please contact us.