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Vendor Risk Assessment Jobs in Chicago, IL (NOW HIRING)

Socket.dev

Risk Analyst

Deerfield, IL · On-site

$87 - $110/hr

Perform third-party security and compliance risk assessments for new and existing vendors, evaluating risk exposure, control effectiveness, business impact, and remediation requirements * Review SOC ...

New

Alera Group

Risk Analyst

Deerfield, IL · On-site +1

$87K - $110K/yr

Perform third-party security and compliance risk assessments for new and existing vendors, evaluating risk exposure, control effectiveness, business impact, and remediation requirements * Review SOC ...

Request Technology, LLC

Senior GRC Analyst

Chicago, IL · On-site

Experience leading risk assessments, vendor security reviews, and client-facing security discussions with professionalism and tact. * Familiarity with GRC platforms, role-based access controls, and a ...

BCU

Sr Mgr, Vendor Management

Vernon Hills, IL · On-site

$144K - $216K/yr

Manages the day-to-day risk assessment process for all vendor onboarding activities in partnership with Procurement, Legal and other BCU stakeholders doing business with the third party. Critically ...

Smarkets

Chief Risk Officer

Chicago, IL · On-site

$150 - $200/hr

Establish and maintain risk assessment processes across market volatility and trading disruptions, technology failures and cyber threats, vendor and third‑party dependencies, and compliance and ...

GDR Defense

Sourcing Specialist

Chicago, IL · On-site

... Vendor Risk Assessment (VRA), and Procurement Operations to ensure timely contract and purchase order execution. This role is focused on request management, process execution, and compliance ...

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Showing results 21-40

All JobsVendor Risk Assessment JobsVendor Risk Assessment Jobs in Chicago, IL

Vendor Risk Assessment information

See Chicago, IL salary details

$53.1K

$114.9K

$175.1K

How much do vendor risk assessment jobs pay per year?

As of Sep 3, 2026, the average yearly pay for vendor risk assessment 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 is a vendor risk assessment?

A Vendor Risk Assessment is a process used by organizations to evaluate and manage the potential risks associated with outsourcing services or products to third-party vendors. The assessment typically examines areas such as data security, regulatory compliance, financial stability, and operational practices of the vendor. Its purpose is to identify potential vulnerabilities or threats that could impact the organization if the vendor fails to meet expectations or is compromised. Regular vendor risk assessments help ensure that third-party relationships do not expose the company to undue risk and that appropriate controls are in place.

What are the key skills and qualifications needed to thrive as a vendor risk assessment professional?

To thrive in Vendor Risk Assessment, you need a solid understanding of risk management principles, third-party due diligence, and regulatory compliance, often supported by a degree in business, IT, or a related field. Familiarity with risk assessment tools, governance frameworks (like ISO 27001), and platforms such as GRC (Governance, Risk, and Compliance) systems is typically required. Strong analytical thinking, attention to detail, and effective communication skills help professionals assess vendor risks and collaborate across departments. These skills are crucial for identifying, mitigating, and communicating risks that could impact an organization’s operations, security, or reputation.

What are some common challenges faced in a vendor risk assessment role, and how can I prepare to address them?

Professionals in Vendor Risk Assessment often encounter challenges such as managing large volumes of vendor data, ensuring compliance with evolving regulations, and effectively communicating risks to both internal stakeholders and vendors. To prepare for these challenges, it's important to develop strong organizational and analytical skills, stay informed about regulatory changes, and build effective communication strategies. Collaborating closely with procurement, legal, and IT teams is also essential for gathering accurate information and implementing risk mitigation measures.

What is the difference between Vendor Risk Assessment vs Vendor Compliance Analyst?

AspectVendor Risk AssessmentVendor Compliance Analyst
Primary FocusEvaluating risks associated with vendors and third-party providersEnsuring vendors comply with policies, regulations, and contractual obligations
CertificationsCertifications like CISSP, CISA, or vendor risk management coursesCertifications such as CCEP, CISA, or compliance-specific credentials
Work EnvironmentRisk management teams, procurement, cybersecurity departmentsCompliance teams, legal, procurement, and audit departments
Industry UsageCommon in finance, healthcare, and IT sectorsPrevalent in regulated industries like finance, healthcare, and manufacturing

Vendor Risk Assessment focuses on identifying and mitigating risks posed by vendors, while Vendor Compliance Analysts ensure vendors adhere to policies and regulations. Both roles are essential for managing third-party relationships but differ in their primary objectives and activities.

What cities near Chicago, IL are hiring for Vendor Risk Assessment jobs?

Cities near Chicago, IL with the most Vendor Risk Assessment job openings:

Vendor Risk Assessment jobs near you
Infographic showing various Vendor Risk Assessment job openings in Chicago, IL as of August 2026, with employment types broken down into 1% As Needed, 83% Full Time, 13% Part Time, 2% Contract, and 1% Nights. Highlights an 85% Physical, 5% Hybrid, and 10% Remote job distribution, with an average salary of $114,919 per year, or $55.2 per hour.

Manager, Model Risk Governance

Federal Home Loan Bank of Chicago

Chicago, IL • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 6 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 with an allocation of remote days to use as needed throughout the year.
What you'll do
You will be responsible for the Model Governance and Compliance, reporting to the Head of Model Risk Management (MRM). You'll oversee and ensure compliance with model risk management policies, procedures, and regulatory requirements. You will also work closely with cross-functional teams to establish and maintain robust model risk governance frameworks. You will have a strong background in risk management, regulatory compliance, and model governance. This role has direct reports.
How you'll make an impact
  • Strengthens risk management and governance by ensuring models, AI/ML solutions, and end-user computing (EUC) tools comply with regulatory requirements, internal policies, and governance standards.
  • Improves decision-making through strong governance by establishing robust model and EUC governance frameworks, maintaining model inventory, and promoting high-quality data, controls, and transparency across the model lifecycle.
  • Supports strategic objectives by enhancing governance practices, supporting regulatory readiness, and providing senior management with clear insights into model and emerging risks.

What you can expect
  • Implement and maintain a comprehensive model risk governance framework, including model standards, validation procedures, validation report templates, test scripts, checklists to ensure compliance with regulatory requirements and industry best practices.
  • Stay up-to-date with regulatory guidelines, Model Risk AB 2013-07 and Supplemental AB 2022-03, industry trends related to model risk governance and compliance, and assess their impact on model risk governance and compliance practices.
  • Conduct periodic assessments and reviews to identify potential gaps or weaknesses in model risk governance and compliance practices and recommend appropriate remediation actions.
  • Maintain an up-to-date model inventory.
  • Engage internal or external resources to review EUCs periodically.
  • Collaborate with model validation team to perform model annual review and ensure models adhere to established governance standards and regulatory requirements.
  • Conduct peer reviews for model validation team to ensure validation report adhere to established model governance standards and regulatory requirements.
  • Conduct periodical GRC model surveys (especially performance monitoring processes) and vendor surveys, and work with Model Validation team to provide model risk assessment.
  • Participate in regulatory interactions, including examinations, inquiries, and reporting related to model risk governance and compliance matters.
  • Coordinate with internal audit and compliance teams to support model risk-related audits and examinations, responding to inquiries and providing necessary documentation.
  • Develop and deliver training programs on model risk governance and compliance for relevant stakeholders, including model owners, risk managers, and senior management.
  • Prepare comprehensive reports and presentations summarizing model risk governance and compliance activities, findings, and recommendations for senior management and oversight committee (OROC).

What you'll bring
  • Bachelors or master's degree in finance, economics, risk management, or a related field.
  • Relevant professional certifications (e.g., FRM, CFA) are a plus.
  • Extensive experience (7-10 years) in risk management, regulatory compliance, or related fields, with a focus on model risk governance and compliance.
  • 0-5 years of management experience required
  • Strong knowledge of regulatory guidelines and industry best practices related to model risk governance and compliance.
  • Familiarity with model risk management frameworks, model validation, and model development processes.
  • Experience in developing and implementing policies, procedures, and controls related to model risk governance and compliance.
  • Strong understanding of regulatory requirements and the ability to interpret and apply them in a practical manner.
  • Advanced understanding of financial regulatory environment, fixed income products and risk management concepts.
  • Excellent problem-solving skills, with the ability to assess and mitigate risk effectively.
  • Excellent communication and interpersonal skills, with the ability to collaborate with cross-functional teams.
  • Familiarity with regulatory reporting and examination processes related to model risk governance and compliance is a plus.

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:
$151,025.00 - $265,525.00
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

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