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Quantitative Risk Management Jobs in Chicago, IL

Old Mission

Quantitative Trader (Options)

Chicago, IL · On-site

$150K - $200K/yr

Build desk tooling for pricing, risk management, and opportunity identification. * Manage a ... An undergraduate or an advanced degree in a quantitative field such as computer science ...

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience with AIR/RMS is preferred Behavioral Skills * Effective Communication * Team-oriented mindset

Ryan Specialty

Catastrophe Risk Analyst

Chicago, IL

$72K - $90K/yr

Quantitative Analysis * Risk Assessment * Project Management * Insurance Knowledge * Experience with AIR/RMS is preferred Behavioral Skills * Effective Communication * Team-oriented mindset

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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.

Principal Quantitative Researcher - Systematic

CTC Lateral - Website & LinkedIn

Chicago, IL

Full-time

Re-posted 18 days ago

Job description

Quantitative research is a key driver of innovation at CTC and one of the pillars upon which our firm is built. We are seeking a Principal Quantitative Researcher to partner with Trading and Technology to drive new revenue, scale, and evolve the firm's trading capabilities. In this role, you will lead research areas, influencing the direction of the team in a dynamic environment. This includes partnership with other researcher managers, traders and engineers on quantitative problem solving, trading strategy generation, back-testing, statistical analysis, and system design. 

Take advantage of this opportunity to apply the scientific method to business problems as part of the Quant team at CTC! 

What You'll Do
  • Define and articulate a long-term vision that will lead to new sources of revenue, evolving with business needs and market structure 
  • Conduct commercially focused revenue generating research, while supporting others with their research 
  • Develop a structured roadmap and ensure quant functions remain focused, aligned, and accountable 
  • Direct development of innovative infrastructure across pricing models and research platforms 
  • Foster coordination across risk management, development, and quantitative research to drive measurable business impact 
  • Provide thought leadership while applying academic rigor to practical trading applications  
What We're Looking For
  • PhD in Science or Engineering fields (e.g. Statistics, Mathematics, Physics, Operations Research, Electrical Engineering) strongly preferred 
  • Experience in a top systematic trading team of which at least 10 years as a quantitative researcher 
  • Proven ability to conduct independent, high-quality research 
  • Demonstrable track record of generating positive PnL 
  • Exceptional ability to communicate complex ideas and research results, both in writing and verbally 
  • Experience with the software development lifecycle with advanced programming skills 
  • Unique combination of analytical prowess, programming skills, and acute understanding of business 
  • Unwavering commitment to quality, coupled with a drive for delivering commercial outcomes 
  • Strong Python skills including Numpy and Pandas libraries 
Nice to Haves
  • Management experience leading a healthy and empowered team, driving accountability. 
  • Experience with a wide variety of market and alternative data  
  • Expertise in US options markets, options pricing models, volatility surfaces, and risk management techniques  
  • Strong Python skills including Numpy and Pandas libraries  
  • Strong track record of publications in an industry setting 

Apply