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

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 ...

BofA Securities

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 ...

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 ...

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 ...

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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 24, 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 Options Trader - eFinancialCareers

eFinancialCareers

Chicago, IL • On-site

Full-time

Posted 23 days ago

Job description

A top global market maker with a long-standing track record is scaling its equity and index options trading team in Chicago. The firm operates a highly efficient, technology-led platform where trading, engineering, and research are tightly integrated. This role offers direct ownership of risk and P&L with the ability to influence strategy development and expand into new products.

What You'll Be Doing

  • Manage systematic/semi-systematic strategies across single stock and/or index products with clear ownership of risk and performance
  • Partner with quantitative researchers and engineers to refine pricing, improve tooling, and evolve trading models
  • Generate and act on data-driven trade ideas across products and market regimes
  • Strengthen risk management approaches to better position the book through periods of volatility
  • Contribute to ongoing enhancements in execution, automation, and quoting efficiency

What They're Looking For

  • 2-5 years of experience in options market making (equities or index options preferred)
  • Strong Python skills with experience working on data analysis or backtesting workflows
  • Solid grounding in options theory including volatility surfaces, Greeks, and market microstructure
  • Bachelor's or Master's degree in a quantitative field from a top-tier university

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