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Risk Quant Jobs in Chicago, IL (NOW HIRING)

Specialist, Investment Risk

Chicago, IL · On-site

$137.40K - $233.60K/yr

Provide independent oversight to risks associated with equities, derivatives and quantitative strategies, ensuring alignment with organizational goals and risk appetite. * Lead efforts by identifying ...

Specialist, Investment Risk

Chicago, IL · Hybrid

$137.40K - $233.60K/yr

Provide independent oversight to risks associated with equities, derivatives and quantitative strategies, ensuring alignment with organizational goals and risk appetite. * Lead efforts by identifying ...

Provide independent oversight to risks associated with equities, derivatives and quantitative strategies, ensuring alignment with organizational goals and risk appetite. * Lead efforts by identifying ...

Master's Degree in Statistics, Economics, Engineering, Finance, or related quantitative field * 8+ ... risk coverage function at a large financial institution. * Knowledge and use of statistical ...

Develop and maintain robust quantitative models and methodologies to measure and analyze various types of risks, including market risk, credit risk, liquidity risk, and operational risk. Validate and ...

Quant

Chicago, IL · On-site

$150K - $250K/yr

Our team has extensive, global experience in a wide variety of asset classes, risk management, and ... The Quant will have the opportunity to work in one of our offices focusing on expanding and ...

Quant

Chicago, IL · On-site

$150K - $250K/yr

Our team has extensive, global experience in a wide variety of asset classes, risk management, and ... The Quant will have the opportunity to work in one of our offices focusing on expanding and ...

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Risk Quant information

See Chicago, IL salary details

$101K

$174.8K

$267.3K

How much do risk quant jobs pay per year?

As of May 28, 2026, the average yearly pay for risk quant in Chicago, IL is $174,845.00, according to ZipRecruiter salary data. Most workers in this role earn between $138,600.00 and $205,000.00 per year, depending on experience, location, and employer.

What does a Risk Quant do?

A Risk Quant (Risk Quantitative Analyst) is responsible for identifying, measuring, and managing financial risks using mathematical models and statistical techniques. They develop risk models, analyze market and credit risk, and ensure regulatory compliance in financial institutions. Their work involves programming, quantitative finance, and data analysis to assess potential losses and optimize risk strategies. Risk Quants typically work in investment banks, hedge funds, and asset management firms.

What are the key skills and qualifications needed to thrive in the Risk Quant position, and why are they important?

To thrive as a Risk Quant, you need a solid background in quantitative finance, statistics, mathematics, and advanced analytical skills, typically supported by a relevant degree such as in math, physics, or financial engineering. Expertise in programming languages like Python, R, or C++, familiarity with statistical modeling tools, and knowledge of financial risk management certifications (e.g., FRM or CFA) are highly valued. Strong communication, problem-solving skills, and the ability to work collaboratively with cross-functional teams make someone stand out in this position. These skills are important for accurately assessing complex financial risks, developing effective models, and providing actionable insights within a dynamic financial environment.

What are the typical daily responsibilities of a Risk Quant?

A Risk Quant typically spends their day developing and implementing quantitative models to measure and manage different types of financial risk, such as market, credit, or operational risk. They analyze data sets, conduct backtesting and stress testing, and report findings to risk managers or senior executives. Collaboration with traders, IT teams, and compliance professionals is also a routine part of the job to ensure models are both accurate and aligned with business goals. This role often involves continuous learning and adapting to new regulations, market conditions, and emerging quantitative techniques.
What are the most commonly searched types of Risk Quant jobs in Chicago, IL? The most popular types of Risk Quant jobs in Chicago, IL are:
What job categories do people searching Risk Quant jobs in Chicago, IL look for? The top searched job categories for Risk Quant jobs in Chicago, IL are:
Infographic showing various Risk Quant job openings in Chicago, IL as of May 2026, with employment types broken down into 100% Full Time. Highlights an 66% In-person, and 34% Remote job distribution, with an average salary of $174,845 per year, or $84.1 per hour.

Model Risk Quant Developer -Chicago, IL -Hybrid

FinTrust Connect LLC

Chicago, IL • Hybrid

$100 - $165/hr

Other

This job post has expired today. Applications are no longer accepted.


Job description

About the job Model Risk Quant Developer -Chicago, IL -Hybrid

  • Model Risk Quant Developer -Chicago, IL - Hybrid
FinTrust Connect Chicago IL Hybrid
Share Your Resume and Build Your Future!
Join our Talent Community for Chicago. The city shows steady contractor demand for quantitative developers who can partner with model risk and front office teams to ship production grade analytics and testing frameworks.
Requirements
  • 5 to 9 years in quant development or model engineering
  • Python expert with strong software engineering practices and Git based workflows
  • Experience packaging analytics for production use and validator reruns
  • Knowledge of market or credit or liquidity risk modeling techniques
  • Familiarity with CI and CD and containers and artifact registries
Responsibilities
  • Engineer model libraries and challenger models with clear APIs and documentation
  • Build scenario and sensitivity engines and quality checks for inputs and outputs
  • Maintain continuous testing and nightly backtests with alerts and dashboards
  • Work with stakeholders to translate regulatory asks into code and evidence
Outcomes we track
  • Nightly validation jobs success 99% with auto rerun and notify
  • Mean time to reproduce validation results < 1 hour
  • Repeat findings over two consecutive cycles 0
Compensation and terms
  • Consultant pay $100 to $165 per hour
  • Contract -Hybrid -Chicago, IL or Remote US W2 or 1099
How to apply
  • Apply on our site FinTrust Careers
  • Or email talent@FinTrustConnect.com with subject [Apply] Model Risk Quant Developer Chicago
  • Follow FinTrust Connect on LinkedIn

Keywords
Model Risk, Quant Developer, Python, Risk Analytics, CI CD, Unit Tests, Benchmarking, Challenger Models, SR 11 7, Data Lineage, Docker, Chicago