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Vice President Risk Management Jobs in Chicago, IL

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Vice President Risk Management information

See Chicago, IL salary details

$44.8K

$162.4K

$286.1K

How much do vice president risk management jobs pay per year?

As of May 28, 2026, the average yearly pay for vice president risk management in Chicago, IL is $162,409.00, according to ZipRecruiter salary data. Most workers in this role earn between $118,600.00 and $195,900.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Vice President of Risk Management, and why are they important?

To thrive as a Vice President of Risk Management, you need deep expertise in risk analysis, regulatory compliance, financial modeling, and a relevant degree—often supported by certifications like FRM or CRM. Familiarity with risk assessment software, enterprise risk management (ERM) platforms, and quantitative analysis tools is typically required. Strong leadership, strategic thinking, and excellent communication skills help drive risk culture and collaborate with executive stakeholders. These competencies are crucial to effectively identify, mitigate, and communicate risks, ensuring the organization's resilience and regulatory alignment.

What are some common challenges faced by a Vice President of Risk Management and how can they be addressed?

A Vice President of Risk Management often faces the challenge of balancing regulatory compliance with the organization's strategic objectives. Keeping up with evolving regulations, managing cross-departmental communication, and implementing comprehensive risk assessment frameworks are key hurdles. Addressing these challenges requires continuous professional development, fostering a strong risk-aware culture across teams, and leveraging advanced risk management technologies. Successful VPs also prioritize regular collaboration with legal, finance, and operational leaders to ensure risks are identified and mitigated early.

What does a Vice President of Risk Management do?

A Vice President of Risk Management is responsible for identifying, assessing, and mitigating risks that could impact an organization's financial performance, reputation, or operations. They develop strategies and policies to manage risks related to compliance, financial markets, operations, and industry regulations. Additionally, they often lead teams, collaborate with other executives, and ensure that the company adheres to best practices in risk mitigation. Their work helps protect the organization from potential losses and ensures long-term business stability.

What is the difference between Vice President Risk Management vs Risk Analyst?

AspectVice President Risk ManagementRisk Analyst
CredentialsBachelor's/Master's in Finance, Risk Management, or related fields; certifications like FRM or CRMBachelor's degree in Finance, Economics, or related fields; certifications like FRM are a plus
Work EnvironmentExecutive-level, strategic planning, leadership roles in corporate officesAnalytical, data-driven roles often in offices or financial institutions
Employer & IndustryFinancial institutions, corporations, insurance companiesFinancial firms, banks, insurance companies, consulting firms

The Vice President Risk Management holds a senior leadership role focused on strategic risk oversight, while a Risk Analyst performs detailed risk assessments and data analysis. The VP sets policies and directs teams, whereas the Risk Analyst supports these efforts through analysis and reporting.

What are the most commonly searched types of Risk Management jobs in Chicago, IL? The most popular types of Risk Management jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Vice President Risk Management jobs? Cities near Chicago, IL with the most Vice President Risk Management job openings:
Infographic showing various Vice President Risk Management job openings in Chicago, IL as of May 2026, with employment types broken down into 23% Full Time, 75% Part Time, 1% Temporary, and 1% Contract. Highlights an 97% Physical, 2% Hybrid, and 1% Remote job distribution, with an average salary of $162,409 per year, or $78.1 per hour.

VP - Commercial Banker

Home State Bank

Crystal Lake, IL

Other

Posted 18 days ago


Job description

Home State Bank is hiring a VP - Commercial Banker in Crystal Lake, IL. This is a full-time position. The VP -Commercial Banker will provide a high level of portfolio management.

Develop and maintain customer relationships (primarily commercial) to provide maximum return with minimal risk and in accordance with guidelines established by Bank Policy and Senior Management.