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Senior Quantitative Risk Analyst Jobs in Illinois

Bank of America

Sr. Quantitative Finance Analyst

Chicago, IL · On-site

$88K - $109K/yr

Performs end-to-end market risk stress testing including scenario design, scenario implementation ... The Senior Quantitative Financial Analyst interacts with a wide variety of stakeholders including ...

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Partners effectively with senior stakeholders within Global Risk Analytics and Enterprise ... Applies quantitative methods to develop capabilities that meet line of business, risk management ...

Hobbsnews

Sr. Quantitative Engineer

Chicago, IL · On-site

$155 - $202/hr

Partners effectively with senior stakeholders within Global Risk Analytics and Enterprise ... Applies quantitative methods to develop capabilities that meet line of business, risk management ...

New

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$107K - $147K/yr

Partners effectively with senior stakeholders within Global Risk Analytics and Enterprise ... Applies quantitative methods to develop capabilities that meet line of business, risk management ...

Bank of America

Sr. Quantitative Engineer

Chicago, IL · On-site

$107K - $147K/yr

Partners effectively with senior stakeholders within Global Risk Analytics and Enterprise ... Applies quantitative methods to develop capabilities that meet line of business, risk management ...

Bank of America

Sr. Quantitative Finance Analyst

Chicago, IL · On-site

$88K - $109K/yr

Performs end-to-end market risk stress testing including scenario design, scenario implementation ... Position Overview - As a senior quantitative finance analyst in MRQ team, you will be responsible ...

Bank of America

Sr. Quantitative Finance Analyst

Chicago, IL · On-site

$88K - $109K/yr

Performs end-to-end market risk stress testing including scenario design, scenario implementation ... Position Overview - As a senior quantitative finance analyst in MRQ team, you will be responsible ...

IMC

Experienced Risk Manager

Chicago, IL · On-site

... to senior leadership, and the ability to influence both day-to-day trading decisions and the ... Strong analytical and quantitative problem-solving skills * Proficiency in Python for data analysis ...

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Senior Quantitative Risk Analyst information

See Illinois salary details

$51.8K

$106.4K

$138.1K

How much do senior quantitative risk analyst jobs pay per year?

As of Aug 24, 2026, the average yearly pay for senior quantitative risk analyst in Illinois is $106,444.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,700.00 and $132,800.00 per year, depending on experience, location, and employer.

What is a senior quantitative risk analyst?

Senior Quantitative Risk Analysts are experienced professionals who use mathematical models and statistical techniques to identify, measure, and manage financial risks within an organization. They typically work in banks, investment firms, or other financial institutions, and play a key role in developing risk assessment tools, interpreting data, and advising on strategies to mitigate potential losses. In addition to their technical expertise, they often lead teams, guide junior analysts, and collaborate with other departments to ensure comprehensive risk management. Their work helps organizations make informed decisions and comply with regulatory requirements.

What are the key skills and qualifications needed to thrive as a senior quantitative risk analyst?

To thrive as a Senior Quantitative Risk Analyst, you need advanced quantitative analysis skills, a strong background in statistics, mathematics, or finance, and typically a relevant graduate degree. Proficiency in programming languages such as Python, R, or SAS, as well as experience with risk modeling software and financial databases, is crucial. Outstanding problem-solving abilities, attention to detail, and effective communication skills distinguish top performers in this role. These competencies are essential for accurately assessing financial risks, developing robust models, and clearly conveying complex findings to stakeholders.

What are some typical challenges faced by senior quantitative risk analysts when developing risk models, and how are they addressed within teams?

Senior Quantitative Risk Analysts often encounter challenges such as managing large, complex datasets, ensuring model accuracy, and staying compliant with evolving regulatory standards. To address these, teams typically collaborate closely, leveraging peer reviews, regular validation processes, and ongoing communication with IT and compliance departments. Additionally, senior analysts mentor junior team members and encourage a culture of continuous learning to keep up with the latest quantitative methods and regulatory requirements.

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

AspectSenior Quantitative Risk AnalystQuantitative Risk Analyst
Required CredentialsBachelor's or Master's in Finance, Mathematics, or related field; often with certifications like FRM or CFABachelor's or Master's in relevant fields; certifications like FRM or CFA are common but less mandatory
Work EnvironmentTypically in financial institutions, risk management teams, or investment firmsSimilar environments, often in banks, asset managers, or insurance companies
Job ResponsibilitiesLeading risk modeling, analyzing complex data, mentoring junior staffSupporting risk assessments, data analysis, and model development

The main difference lies in experience and responsibility. Senior Quantitative Risk Analysts often lead projects, mentor teams, and handle complex modeling, while Quantitative Risk Analysts focus on supporting risk analysis and data work. Both roles require similar credentials and work in comparable environments, but the senior role involves more leadership and strategic input.

What are the most commonly searched types of Quantitative Risk Analyst jobs in Illinois?

The most popular types of Quantitative Risk Analyst jobs in Illinois are:

What are popular job titles related to Senior Quantitative Risk Analyst jobs in Illinois?

For Senior Quantitative Risk Analyst jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Senior Quantitative Risk Analyst jobs in Illinois look for?

The top searched job categories for Senior Quantitative Risk Analyst jobs in Illinois are:

Senior Quantitative Risk Analyst jobs near you
Infographic showing various Senior Quantitative Risk Analyst job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 14% Part Time, and 2% Contract. Highlights an 85% Physical, 5% Hybrid, and 10% Remote job distribution, with an average salary of $106,444 per year, or $51.2 per hour.

Senior Quantitative Risk Analyst

Geneva Trading

Chicago, IL • On-site

$135K - $175K/yr

Full-time

Posted 3 days ago

New

Job description

Founded in 1999, Geneva Trading is a premier global principal trading firm with strategically located offices in Chicago, Dublin, and London. Our relentless focus on trading excellence combined with technological innovation has equipped us with a best-in-class proprietary trading platform, enabling us to compete at the highest levels in the global markets. Rooted in a culture of integrity, collaboration, and an unwavering passion for progress, we foster an environment of personal and professional excellence. Our nimble organizational structure and entrepreneurial spirit attract top-tier talent with a passion for innovation, laying the foundation and driving our consistent success in the industry.
About the Role:
We are seeking an experienced Senior Quantitative Risk Analyst to join our proprietary trading firm. This uniquely hybrid role balances building robust quantitative risk models with providing critical first-line support for live trading activity, with a strong focus on futures markets. The ideal candidate is a hands-on builder and a calm problem-solver who thrives at the intersection of quantitative development, risk architecture, real-time market dynamics, and applied artificial intelligence.
Key Responsibilities:
  • Quantitative Development: Design, develop, and maintain quantitative risk models, pricing libraries, and margin replication tools for futures markets.
  • AI & Machine Learning Integration: Explore, prototype, and implement AI-driven techniques to enhance predictive risk modeling, anomaly detection, and automated trading surveillance.
  • Live Trading Oversight: Provide real-time, first-line support and monitoring of live trading activity, rapidly identifying and escalating risk exposures, breaches, or system anomalies.
  • Tooling & Architecture: Build, optimize, and scale real-time risk monitoring tools, dashboards, and automated alerting systems.
  • Market Analysis: Interpret complex trading behavior and market movements to assess potential risk implications and continuously refine model parameters.
  • Collaboration & Mentorship: Partner closely with traders, operations, and core engineering teams to align risk systems with trading strategies. Mentor junior team members and guide risk-tech architecture decisions.
  • Incident Response: Lead post-trade reviews, risk incident analysis, and implement systemic fixes to prevent recurring issues.

What We're Looking For:
  • Quantitative & Modeling Expertise: Proven experience building and deploying quantitative risk models (e.g., VaR, stress testing, scenario analysis) within a production environment.
  • AI Experience & Passion: Practical experience with machine learning, data science, or AI modeling techniques, coupled with a strong enthusiasm for expanding your AI expertise and applying it to complex risk challenges.
  • Technical Skills: Advanced proficiency in Python, with a strong grasp of software engineering best practices, data structures, and database management (SQL/NoSQL).
  • Industry Experience: 5+ years of experience in a quantitative development, risk modeling, or trading systems role within a proprietary trading firm, hedge fund, or investment bank.
  • Market Knowledge: Deep, practical understanding of futures markets, exchange mechanics, and trading lifecycles.
  • Calm Under Pressure: Exceptional ability to remain composed, troubleshoot systems, and make sound judgments in a fast-moving, high-stakes live trading environment.
  • Communication: Excellent ability to translate complex quantitative concepts and risk concerns into actionable insights for both technical and non-technical stakeholders.
  • Flexibility: Willingness to provide coverage during Asian market hours, including early mornings or overnight shifts, as dictated by live trading support needs.

Preferred Qualifications:
  • Advanced degree (Master's or Ph.D.) in a quantitative field such as Financial Engineering, Mathematics, Physics, Computer Science, or equivalent.
  • Familiarity with exchange margin methodologies (e.g., SPAN, SPAN 2).
  • Experience working in a 24/5 or global trading infrastructure.

Compensation
Base Salary Range: $135,000 - $175,000, plus eligibility for a performance-based bonus.
Final compensation will be determined based on the candidate's skills, experience, education, and qualifications. In addition to base salary, Geneva Trading offers a competitive total rewards package, including a comprehensive benefits program. Learn more about our employee incentives here: https://www.genevatrading.com/employee-incentives/
Application expected to close: 10/01/2026
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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