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Quantitative Risk Manager Jobs in Illinois (NOW HIRING)

Northern Trust

Specialist, Investment Risk

Chicago, IL · Hybrid

$137K - $233K/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 · On-site

$137K - $233K/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 · On-site

$137K - $233K/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

Hedge Fund Risk Manager

Chicago, IL

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... Strong analytical and quantitative skills * Ability to interpret limited transparency data

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... Strong analytical and quantitative skills * Ability to interpret limited transparency data

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Role Overview We are seeking an experienced Risk Manager to join our investment team and oversee ... Strong analytical and quantitative skills * Ability to interpret limited transparency data

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Quantitative Risk Manager information

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$49.9K

$108.1K

$164.7K

How much do quantitative risk manager jobs pay per year?

As of Jul 10, 2026, the average yearly pay for quantitative risk manager in Illinois is $108,101.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,200.00 and $125,000.00 per year, depending on experience, location, and employer.

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 quantitative analyst in finance, insurance, or consulting firms. These roles involve assessing and modeling financial risks using statistical tools, programming languages like Python or R, and risk management frameworks. Professionals in this field often work with regulatory compliance and may pursue certifications like FRM or PRM.

What is the salary of a quant risk manager?

A quantitative risk manager's salary typically ranges from $100,000 to $200,000 annually, with higher compensation often associated with experience, advanced degrees, and certifications such as FRM or CFA. In addition to base salary, bonuses and performance incentives can significantly increase total compensation in this role.

What does a quantitative risk manager do?

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

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

Quantitative Risk Managers work closely with teams such as trading, compliance, IT, and senior management to identify, measure, and mitigate financial risks. They often translate complex quantitative models into actionable insights for non-technical stakeholders and facilitate the integration of risk metrics into daily decision-making processes. Collaboration is essential for ensuring that risk assessments align with business objectives and regulatory requirements, often requiring regular cross-functional meetings and clear communication.

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 abilities, a deep understanding of statistics and financial mathematics, and typically an advanced degree in finance, mathematics, or a related field. Proficiency in programming languages like Python or R, experience with risk modeling software, and certifications such as FRM or CFA are highly valuable. Exceptional problem-solving, communication, and collaboration skills help you convey complex risk metrics to stakeholders and work effectively in cross-functional teams. These skills ensure accurate risk assessments, regulatory compliance, and informed decision-making in dynamic financial environments.

How much do quant risk managers make?

Quantitative risk managers typically earn between $100,000 and $200,000 annually, with senior roles and those in major financial centers earning higher salaries. Compensation often includes bonuses and benefits, and strong skills in mathematics, programming, and risk modeling are essential for higher-paying positions.

What is a Quantitative Risk Manager?

A Quantitative Risk Manager is a professional who uses mathematical models, statistical analysis, and quantitative techniques to identify, measure, and manage financial risks within an organization. They often work in banks, investment firms, or insurance companies to analyze market, credit, and operational risks. Their responsibilities include developing risk models, monitoring risk exposures, and advising senior management on risk mitigation strategies. They play a key role in ensuring that organizations make informed decisions and comply with regulatory requirements.

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

AspectQuantitative Risk ManagerQuantitative Analyst
Primary FocusAssessing and managing risk exposure across financial portfoliosDeveloping models and algorithms for investment strategies
Required CredentialsAdvanced degrees in finance, mathematics, or related fields; certifications like FRM or CFADegrees in finance, mathematics, or statistics; often pursuing CFA or similar
Work EnvironmentFinancial institutions, risk management departmentsInvestment firms, hedge funds, banks
Key SkillsRisk assessment, regulatory knowledge, quantitative modelingData analysis, programming, financial modeling

While both roles involve quantitative skills and financial knowledge, Quantitative Risk Managers focus on identifying and mitigating risks within organizations, whereas Quantitative Analysts primarily develop models to inform investment decisions. Understanding these differences helps professionals choose the right career path or job search focus.

What are the most commonly searched types of Quantitative Risk jobs in Illinois? The most popular types of Quantitative Risk jobs in Illinois are:
What are popular job titles related to Quantitative Risk Manager jobs in Illinois? For Quantitative Risk Manager jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Quantitative Risk Manager jobs in Illinois look for? The top searched job categories for Quantitative Risk Manager jobs in Illinois are:
What cities in Illinois are hiring for Quantitative Risk Manager jobs? Cities in Illinois with the most Quantitative Risk Manager job openings:
Quantitative Risk Manager jobs near you
Quantitative Risk Management Consultant

Quantitative Risk Management Consultant

Software Guidance & Assistance

Chicago, IL • On-site

Other

Re-posted 19 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 .
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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.

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