ZipRecruiter

Log In

1

Quantitative Risk Manager Jobs in Illinois (NOW HIRING)

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 ...

Bank of America

Sr. Quantitative Finance Analyst

Chicago, IL · On-site

$88K - $109K/yr

Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify ... This role sits within Market Risk Quants (MRQ) team under GMRA. MRQ team's remit spans market risk ...

Rothera

Director, Enterprise Risk Management

Chicago, IL

$175K - $200K/yr

The Risk Management structure ensures the safety and soundness of the organization by overseeing ... Advanced degree in quantitative finance, econometrics/computer science, quantitative methods, or ...

Rothera

Director, Enterprise Risk Management

Chicago, IL · On-site

$175K - $200K/yr

The Risk Management structure ensures the safety and soundness of the organization by overseeing ... Advanced degree in quantitative finance, econometrics/computer science, quantitative methods, or ...

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Provide independent model risk management and support for the VP of Model Risk as follows: Model ... perform quantitative and qualitative tests to assess models for conceptual soundness ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Provide independent model risk management and support for the VP of Model Risk as follows: Model ... perform quantitative and qualitative tests to assess models for conceptual soundness ...

US Bank

Quantitative Model Analyst 3 - AML

Chicago, IL · On-site

The individual will partner closely with model owners, Model Risk Management, internal and external ... Basic Qualifications - Bachelor's degree in a quantitative field, and five or more years of ...

William Blair

Risk Analyst

Chicago, IL · Hybrid

Utilize enterprise risk management principles and methodologies to perform quantitative analysis such as risk grading, financial risk, rate of failure. * Collaborate with business partners to ...

DRW

Quantitative Trader - Futures

Chicago, IL · On-site

$150K - $250K/yr

DRW is seeking a Senior Quantitative Trader (Delta One) to join the FICCO options trading business ... Understand and manage risk across live strategies, including exposure, volatility, liquidity, and ...

Corgi Insurance

Quantitative Associate

Chicago, IL · On-site

$200K - $350K/yr

The management of the Corgi insurance portfolio and development of underwriting strategy. * Analyze ... Exposure to predictive modeling, risk modeling, or actuarial concepts. * Experience building ...

next page

Showing results 1-20

All JobsQuantitative Risk JobsQuantitative Risk Manager JobsQuantitative Risk Manager Jobs in Illinois

Quantitative Risk Manager information

See Illinois salary details

$49.9K

$108.1K

$164.7K

How much do quantitative risk manager jobs pay per year?

As of Jul 13, 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
Risk Analyst Income Simulation

Risk Analyst Income Simulation

Federal Home Loan Bank of Chicago

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 23 days ago

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.
  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

Who we are
Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.
Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.
What it's like to work here
At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.
What you'll do
In this role you will interact with stakeholders across the organization, such as business development and balance sheet management teams, to model the future income of the Bank. Key responsibilities include overseeing, monitoring, and reporting on the Bank's income forecast, retained earnings growth, dividend ability and balance sheet compliance. You will perform income at risk modeling and analysis, limits monitoring and reporting.
How you'll make an impact
  • Enable strategic decision-making by delivering robust income at risk modeling, forecasting, and scenario analysis to support the Bank's balance sheet strategy and CFO-led planning processes.
  • Strengthen financial resilience and risk oversight by monitoring income forecasts, retained earnings, and risk exposures, ensuring alignment with regulatory expectations and management objectives.
  • Drive cross-functional insights and process efficiency by partnering with business units to refine assumptions, evaluate new products and hedging strategies, and improve forecasting and modeling processes.

What you can expect
  • Support income forecasting and risk analysis processes, to model the Bank's income at risk, risk exposures and sensitivity to each.
  • Lead the preparation and development of reporting and presentation for various internal committees and Board meetings.
  • Collaborate with business units to understand and refresh assumptions on future member activity and investment capacity.
  • Support the CFO in the annual Strategic Planning process by incorporating additional risk/stress scenarios in the income forecast process and risk analysis framework.
  • Collaborate with internal stakeholder on modelling changes and version upgrades to implement changes and assess income impact.
  • Collaborate with other departments on new product development, new investment consideration and hedge strategy implementation to assess income impact.
  • Assist in process re-engineering, model documentation and EUC(End-User Computing) maintenance
  • Other duties as assigned.

What you'll bring
  • 3-5 years of experience in ALM, risk management, risk modeling or fixed income capital markets.
  • Bachelor's degree in Accounting or a quantitative field (Mathematical Finance, Computational Finance, Computer Science, Finance, Statistics, and Mathematics). Master's degree preferred.
  • A designation of CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager) is a plus.
  • Strong written and verbal communication skills, including the ability to convey complex concepts.
  • Detail oriented, with strong problem-solving abilities and quantitative/analytical skills.
  • The ability to self-manage and work on multiple deliverables concurrently.
  • Proficient in Microsoft Office products such as Excel, PowerPoint, and Word.
  • Knowledge of VBA and one other programming language (Python, R) is a PLUS
  • Asset/Liability Management experience and exposure to fixed income securities and derivatives

The Perks
At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.
Salary Range:
$75,325.00 - $125,500.00
The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

Apply