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Quantitative Risk Management Jobs in Chicago, IL

Inizio Partners

Credit Risk Analyst

Chicago, IL

... quantitative field, equivalent internship, or research experience. * 10 + years of experience in credit review, credit risk management, or internal audit credit risk coverage function at a large ...

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 ...

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 ...

Capital One

Senior Auditor - Risk Management

Chicago, IL · On-site

$83.40K - $102.50K/yr

Senior Auditor - Risk Management Capital One's Audit function is a dedicated group of professionals ... Quantitative Finance, or Master of Business Administration * Certified Internal Auditor (CIA ...

Capital One

Senior Auditor - Risk Management

Riverwoods, IL · On-site

$84.10K - $103.30K/yr

Senior Auditor - Risk Management Capital One's Audit function is a dedicated group of professionals ... Quantitative Finance, or Master of Business Administration * Certified Internal Auditor (CIA ...

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Quantitative Risk Management information

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$53.1K

$114.9K

$175.1K

How much do quantitative risk management jobs pay per year?

As of May 28, 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.

Credit Risk Analyst

Inizio Partners

Chicago, IL

Full-time

Posted 27 days ago

Job description

Credit Risk Analyst

Chicago, Illinois, United States

About the Job Credit Risk Analyst

Role: Consumer Credit Risk Analyst

This position within Corporate Risk Management is responsible for the oversight of consumer credit policy through effective planning and execution of ongoing and periodic Consumer Credit Reviews across the life cycle of consumer lending products. Primarily, the incumbent is responsible for providing an independent view on asset quality and the key consumer credit risks of the firm's consumer lending practices.

The resource will have a strong knowledge of credit risk management processes, credit strategy development process and regulatory expectations towards safety and soundness. This individual will have skills and experience to lead Consumer Credit Reviews, provide oversight on review activities and deliver the review results including identification of issues and overseeing the reporting of the review results to relevant stakeholders and credit governance committees.

Responsibilities will also include evaluating and monitoring consumer credit risk appetite, tolerance, and thresholds. Also defines the process for monitoring the performance of the consumer credit portfolio and performs reviews of credit risk strategies, while evaluating trade-offs among key business metrics, such as credit losses, receivables, and profit. This will necessitate identifying, designing, and implementing complex business analyses in support of Consumer Credit Reviews and business strategy.

Responsibilities

  • Develops Consumer Credit Review plan using a risk-based approach and executes the Consumer Credit Reviews across all consumer lending products covering credit cards, personal loans, and home equity loans), including performing a risk assessment on the overall portfolio. Collaborates with credit strategy teams to mitigate any identified credit risk concerns. Reports finding through the appropriate, established governance processes.
  • Interacts with business partners, senior management, governance committees, and regulators to present (both orally and written) Consumer Credit Review assessment results and analytic findings in a clear, complete, and concise manner.
  • Develops, manages, and maintains reporting and oversight of consumer credit risk appetite, tolerance, and thresholds. This includes the awareness of consumer credit strategies and the implications of changes in strategy to the profitability of the enterprise.
  • Develops and maintains credit-risk oversight processes, policies, and procedures in accordance with the overall Corporate Risk Management framework and system.
  • Implements and maintains independent credit risk portfolio reporting across all consumer lending products.

Minimum Qualifications

  • Master's Degree in Statistics, Economics, Engineering, Finance, or related quantitative field
  • 8+ years of experience in Statistics, Economics, Engineering, related quantitative field, equivalent internship, or research experience.
  • In lieu of a degree, 15+ years of experience in credit card, or related financial services industry

Preferred Qualifications

  • Ph.D. in Statistics, Economics, Engineering, Finance, or related quantitative field.
  • 10+ years of experience in Statistics, Economics, Engineering, related quantitative field, equivalent internship, or research experience.
  • 10 + years of experience in credit review, credit risk management, or internal audit credit risk coverage function at a large financial institution.
  • Knowledge and use of statistical packages such as SQL, SAS, Python, or other tools to mine, extract complex consumer and transaction level data on big data and/or cloud computing platforms.

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