ZipRecruiter

Log In

1

Weekend Model Risk Management Jobs in Illinois (NOW HIRING)

US Bank

Audit Project Manager - Model Risk

Chicago, IL · On-site

$107K - $140K/yr

Instead, it requires strong audit project management skills to ensure quantitative audits are ... Knowledge of model risk *This role requires working from a U.S. Bank location three (3) or more ...

AbbVie

Risk Management Lead - Hybrid

North Chicago, IL · On-site

Serve as a leader to functional departments in embedding the end to end RBQM model and support sustainability. Partner with cross-functional leaders in the development of risk management strategies ...

CFS

Manager - Investment Risk Management

Chicago, IL · Hybrid

... and portfolio management? Join us as an Investments & Risk Manager and take on a key role in ... Help conduct research and build financial models for investment opportunities. * Collaborate with ...

AbbVie

Risk Management Lead - Hybrid

North Chicago, IL · On-site

Serve as a leader to functional departments in embedding the end to end RBQM model and support sustainability. Partner with cross-functional leaders in the development of risk management strategies ...

inlandgroup

Director of Risk Management

Oak Brook, IL · On-site

Inland Risk Management operates as a shared service model, offering the opportunity to collaborate closely with leaders across the firm and influence risk strategy at an enterprise level. Key ...

next page

Showing results 1-20

All JobsWeekend Model Risk Management JobsWeekend Model Risk Management Jobs in Illinois

Weekend Model Risk Management information

What are the key skills and qualifications needed to thrive in Weekend Model Risk Management, and why are they important?

To thrive in Weekend Model Risk Management, you need a solid background in quantitative analysis, statistics, and risk management, typically supported by a degree in finance, mathematics, or a related field. Familiarity with risk management frameworks, financial modeling software (such as SAS, Python, or R), and regulatory guidelines is crucial. Strong analytical thinking, attention to detail, and effective communication skills help differentiate top performers in this role. These skills ensure accurate risk assessment, compliance with regulations, and the ability to communicate complex findings to stakeholders even during off-peak hours.

What are some unique challenges faced by professionals working in Weekend Model Risk Management roles?

Professionals in Weekend Model Risk Management often face the challenge of addressing urgent model validation or risk assessment tasks outside of standard business hours, which requires strong time management and clear communication with weekday teams. Since model risk issues can arise unexpectedly, weekend teams must be adept at quickly assessing model performance, documenting findings, and escalating concerns as needed. Additionally, collaboration with cross-functional teams—such as compliance, IT, and front-office staff—is essential to ensure continuity of oversight and to resolve issues that may impact critical business decisions before the next trading week. This role offers exposure to a range of models and scenarios, helping build expertise and visibility within risk management functions.

What is the difference between Weekend Model Risk Management vs Weekend Quantitative Analyst?

AspectWeekend Model Risk ManagementWeekend Quantitative Analyst
CredentialsTypically requires risk management certifications, finance or quantitative degreesRequires quantitative degrees, often with programming skills
Work EnvironmentFocuses on risk assessment, model validation, complianceInvolves data analysis, model development, financial modeling
Industry UsageCommon in banking, asset management, financial institutionsCommon in hedge funds, investment banks, trading firms

Weekend Model Risk Management professionals focus on identifying and mitigating risks associated with financial models, ensuring compliance and accuracy. Weekend Quantitative Analysts primarily develop and analyze models to support trading and investment decisions. While both roles require quantitative skills and finance knowledge, their core responsibilities differ: risk management emphasizes validation and oversight, whereas quantitative analysis centers on model creation and optimization.

What is Weekend Model Risk Management?

Weekend Model Risk Management refers to the process of identifying, assessing, and mitigating risks associated with financial and statistical models specifically over weekends or during non-standard business hours. This role is crucial for institutions that operate globally or require continuous monitoring to ensure models function properly and remain compliant even when regular staff may be unavailable. Weekend Model Risk Management professionals review model performance, validate data, and implement controls to prevent errors or breaches during off-peak times. Their work helps maintain the integrity and reliability of models used for trading, risk assessment, and decision-making.
What are the most commonly searched types of Model Risk Management jobs in Illinois? The most popular types of Model Risk Management jobs in Illinois are:
What cities in Illinois are hiring for Weekend Model Risk Management jobs? Cities in Illinois with the most Weekend Model Risk Management job openings:
Weekend Model Risk Management jobs near you
Market Risk Analyst

Market Risk Analyst

Federal Home Loan Bank of Chicago

Chicago, IL • On-site, Remote

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 10 hours 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:

      In this role, the Market Risk Analyst willbe responsible formodeling related to market risk, including but not limited to structured interest rate models, prepayment models, and fair value models for residential and commercial Mortgage-Backed Securities.You'll collaborate with cross-functional teams to perform model evaluation, version upgrade, and assess market risk related to Derivatives, Bonds, Mortgages and Investments following bank and regulatory model risk guidance. Youwillalsobe responsible forprovidingthe accurate& timelymeasurement, analysis, monitoring, and reporting of market risk for the Bank. The ideal candidate shoulddemonstratesuperior analytical thinking and problem-solving skills, along with a desire to learn and develop new concepts.

      How you'll make an impact:

      • Monitor Bank's risk exposures and support bank's asset liability management.

      • Develop hands-on experience with prepayment models and key modeling assumptions.

      • Gain exposure todifferent typesof financial securities and providefairvalue for the bank's balance sheet.

      • Work in a team-based environment and build strong, trustworthy partnerships with internal stakeholders.

      What you can expect:

      • Assistin modeling related to market risk including term structure interest rate models, prepayment models for residential and commercial Mortgage-Backed Securities, and fair value models.

      • Document, review, assess, and update model assumptions and valuation methodologies.

      • Review,maintainand upgrade the risk management systems and perform quantitative analysis to assess changes and enhancements to the pricing models within vendor applications.

      • Research new ways to automate/improve operation and reporting process.

      • Troubleshoot andtimelyresolve issuesimpactingregulatory reporting.

      • Collaborate with cross-functional teams to perform model evaluation, version upgrades, and assess market risk, following bank and regulatory model risk guidance.

      • Reportand provide in-depth analysis of therisk exposure and attribution analysis of Market Value of Equity change ofthebank's balance sheet.

      • Work with other departments across the bank to develop, test, and roll out new products.

      • Handle inquiries from external regulators and auditors.

      • Work on ad hoc projects supportingbank's strategicinitiatives.

      What you'll bring:

      • 0-3 years' work experience.

      • Graduate degree infinancial mathematics,financial engineering, mathematics, economics,or other quantitative or computing fields and/or equivalent work experience.

      • Basic understandinginfixed income securities or mortgage products (CFA/FRM certificationsa plus).

      • Proficient in MS Excel and Word.

      • SQL/AccessDatabase experience.

      • Solidunderstandinginfixed income, mortgages, mortgage-backedsecurities,derivatives, andoptionpricing models.

      • Basic understandinginterm structure models.

      • Familiar with at least one programming language,python, R,or VBA is preferred.

      • Exposure to vendor or in-house software used for security valuation and risk is preferred.

      • Mustquickly develop a comprehensive understanding of the bank's modeling tools used forvaluation andrisk measurement.

      • Passionateabout risk management andinterestedin market risk analysis.

      • Detail-oriented andpossessanalytical skills necessary to research, troubleshoot, prepare, and present a variety of reports and analyses in a fast-paced, continually evolving atmosphere.

      • Excellent verbal and written communication skills.

      • Able to work effectively under pressure, either independently or as a member of a team.

      • Must be willing to work with flexibility and dependability - work schedule may include shifts outside the normal business hours.

      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. Step into a brighter future with us.

      Salary Range:

      $75,325.00 - $125,500.00

      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

      Apply