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Quantitative Risk Manager Jobs in Chicago, IL (NOW HIRING)

JP Morgan Chase

Industry Risk Manager

Chicago, IL · On-site

As a Manager within our Industry Risk team, you will support Bankers and KYC Officers by providing ... Ability to soundly execute quantitative and qualitative analysis and draw salient conclusions

JPMorgan Chase & Co.

Industry Risk Manager

Chicago, IL · On-site

$108K - $183K/yr

As a Manager within our Industry Risk team, you will support Bankers and KYC Officers by providing ... Ability to soundly execute quantitative and qualitative analysis and draw salient conclusions

JPMorgan Chase & Co

Industry Risk Manager

Chicago, IL · On-site

As a Manager within our Industry Risk team, you will support Bankers and KYC Officers by providing ... Ability to soundly execute quantitative and qualitative analysis and draw salient conclusions

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

Cedar Cares, Inc

Chief Risk Officer

Chicago, IL · On-site

$259.25 - $320.25/hr

Develop the quantitative risk methodology and requirements for the Clearinghouse margin model, stress testing, and default management as new products are launched. * Enhance model and financial ...

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

... quantitative, and designed for the speed and complexity of energy markets. What will you be doing? Enterprise Risk Framework * Own the end-to-end risk management framework for the exchange and DCO.

Citizens

Fraud Risk Analytics Manager

Chicago, IL · Hybrid

$106K - $130K/yr

Description We are seeking an experienced Senior Data Scientist to lead fraud risk strategy ... Master degree in Mathematics, Statistics, Operations Management, Economics or other quantitative ...

Citizens

Fraud Risk Analytics Manager

Chicago, IL · Hybrid

$106K - $130K/yr

Description We are seeking an experienced Senior Data Scientist to lead fraud risk strategy ... Master degree in Mathematics, Statistics, Operations Management, Economics or other quantitative ...

Cboe Global Markets

Chief Risk Officer

Chicago, IL · On-site

Develop the quantitative risk methodology and requirement for the Clearinghouse margin model, stress testing, and default management in developing new products, ensuring risk methodologies remain ...

Citizens

Fraud Risk Analytics Manager

Chicago, IL · Hybrid

$106K - $130K/yr

Description We are seeking an experienced Senior Data Scientist to lead fraud risk strategy ... Master degree in Mathematics, Statistics, Operations Management, Economics or other quantitative ...

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All JobsQuantitative Risk JobsQuantitative Risk Manager JobsQuantitative Risk Manager Jobs in Chicago, IL

Quantitative Risk Manager information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do quantitative risk manager jobs pay per year?

As of Jul 22, 2026, the average yearly pay for quantitative risk manager 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 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 Chicago, IL? The most popular types of Quantitative Risk jobs in Chicago, IL are:
What are popular job titles related to Quantitative Risk Manager jobs in Chicago, IL? For Quantitative Risk Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Quantitative Risk Manager jobs in Chicago, IL look for? The top searched job categories for Quantitative Risk Manager jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Quantitative Risk Manager jobs? Cities near Chicago, IL with the most Quantitative Risk Manager job openings:
Quantitative Risk Manager jobs near you
Infographic showing various Quantitative Risk Manager job openings in Chicago, IL as of July 2026, with employment types broken down into 86% Full Time, 13% Part Time, and 1% Contract. Highlights an 94% Physical, 2% Hybrid, and 4% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.
Quantitative Risk Management Consultant

Quantitative Risk Management Consultant

Informatic Technologies

Chicago, IL • On-site

Other

Re-posted yesterday

Job description

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.

Candidates should also be willing to relocate to Chicago at their own costs.

Qualifications:

- 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.

- 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.

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