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Weekend Model Risk Management Jobs in Illinois (NOW HIRING)

Calamos Investments

Risk Management Analyst

Chicago, IL · On-site

$115K/yr

Calamos Advisors LLC has an opening for Risk Management Analyst in Chicago, Illinois. Develop and ... Validate and stress-test models. Create stress testing scenarios and integrate into dashboards.

AbbVie

Risk Management Lead - Hybrid

North Chicago, IL · On-site

$124.50K/yr

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 ...

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 ...

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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 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 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 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
Risk Management Analyst

Risk Management Analyst

Calamos Investments

Chicago, IL • On-site

$115K/yr

Full-time

Posted 10 days ago

Job description

Job Description
Calamos Advisors LLC has an opening for Risk Management Analyst in Chicago, Illinois. 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 stress-test models. Create stress testing scenarios and integrate into dashboards. Conduct in-depth analysis of portfolio performance, identify sources or outperformance or underperformance and provide actionable insights. Improve trading decision tools, back test strategies, and conduct portfolio optimizations. Prepare comprehensive risk reports, presenting findings to senior management, portfolio managers, and other stakeholders. Articulate complex risk concepts in a concise and understandable manner. Ensure effective communication of risk-related information throughout the organization. Create and manage reporting infrastructure - migrate scheduled jobs to the cloud, build SQL views and Python scripts, and maintain documentation. Stay up-to-date with the latest advancements in risk management techniques and technologies. Conduct research to identify new risk factors and propose enhancements to existing risk management frameworks. Develop innovative risk models that align with the evolving market dynamics and the fund's investment objectives. Create deep learning models, explore automation algorithms and develop infrastructure for new technologies. Collaborate with IT, Compliance and Legal to implement SEC rules. Develop internal calculations and reporting in addition to vetting 3rd party providers. Enhance risk monitoring systems, address client data requests and develop comprehensive risk dashboards.
Job Requirements
Position requires a Master's degree in Quantitative Finance, Financial Mathematics, or a related field, and 2 years of experience in investment risk management.
Must also have work or academic experience in:
  • Financial coding and software tools including Python, Git, SQL, Databricks, MS Office, Azure Machine Learning Studio, Power BI DAX, data modeling and report design;
  • Financial vendors Blooomberg terminal, including BQL and PORT Enterprise report automation, and MSCI BarraOne and Barra Portfolio Manager, including Optimization;
  • Machine learning techniques including deep learning to financial datasets;
  • Applying NLP to financial datasets, both text to data and data to text; and
  • Elements of quantitative finance including multi-asset class factor models and modern portfolio theory, options theory, including greeks and trading strategies, convertible bonds, fixed income statistics and attribution, long/short equity risk and hedging, and how macroeconomic indicators impact these elements.

Please submit resume online through this site https://www.calamos.com/.
SALARY: $115,000.00 per year
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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