Risk Analyst

Job Title: Risk Analyst

Location: Chicago, IL (In-Office)

About The Company

We are a government-sponsored financial institution serving as a strategic partner for banks and financial institutions across Illinois and Wisconsin. Our mission is to provide competitively priced funding, a reasonable return on investment, and support for community investment activities. We are committed to fostering a high-performing, engaged workforce and supporting communities from urban centers to rural areas.

Job Summary

We are looking for a Risk Analyst to join our Credit Risk team in Chicago. The ideal candidate will be quantitatively strong with rigorous statistical training (e.g., econometrics, probability, time-series) applied to credit risk, proficiency in R programming, and experience with financial statement analysis. This role will involve developing and maintaining credit risk models, performing credit analysis for depository members (banks and credit unions), and collaborating with Sales Directors to recommend credit structures aligned with our risk appetite.

Key Responsibilities

• Model Development & Maintenance: Develop and maintain advanced credit risk models using statistical and econometric techniques to assess member risk profiles, including banks, credit unions, and insurance companies. Design, implement, and enhance models in R (and/or Python) for credit risk measurement, stress testing, benchmarking, and scenario analysis.
• Data Analytics & Processing: Leverage Databricks and other cloud-based platforms to process and analyze large-scale financial datasets efficiently. Perform data mining, statistical analysis, and predictive modeling to identify trends, correlations, and emerging risks within member portfolios.
• Automation & Monitoring: Automate recurring analytics and controls (e.g., score recalculations, risk rating refreshes, sensitivity checks) using R, SQL, and VBA where appropriate. Monitor model performance and drift; propose recalibration or redevelopment based on statistical evidence and business need.
• Credit Analysis & Underwriting: Perform credit analysis and risk ratings for depository members, including quarterly reviews and ongoing monitoring of financial condition and liquidity/funding profiles. Analyze and recommend approval for new and/or continuing borrowers, aligned with credit policy and risk appetite.
• Stakeholder Collaboration & Reporting: Partner with Relationship Managers and borrowers to structure transactions and address risk considerations. Prepare and deliver reports and presentations to senior management, regulators, and the Credit Committee. Develop clear visualizations and dashboards to communicate model insights and portfolio risk.
  
  

Requirements

• Education: Bachelor's or Master's degree in Mathematics, Statistics, Quantitative Finance, Econometrics, or a closely related analytical field
• Experience: 1–4 years of experience in credit risk analysis, banking, fixed-income, or institutional underwriting
• Skills:
• Demonstrated foundation in statistical modeling, probability, and quantitative methods applied to credit risk
• Proficiency in R for statistical modeling and analytics
• Advanced Excel skills (including advanced functions; VBA a plus)
• Strong written and verbal communication skills with the ability to distill complex analyses for non-technical audiences
• High attention to detail, intellectual curiosity, and sound judgment
• Effective time management; comfortable working both independently and within a team environment
• Other: Familiarity with regulatory filings, GAAP, and financial statement analysis for financial institutions
  

Preferred Qualifications

• Experience with SQL and Databricks for large-scale data processing
• Experience with financial data platforms such as S&P Capital IQ / SNL, Bloomberg, or similar
• Familiarity with Tableau and Bloomberg
• Knowledge of U.S. banking industry dynamics, credit risk principles, and regulatory environment for depository institutions
  
  

Benefits

• Competitive Salary: Highly competitive compensation and bonus package
• Health and Wellness: Comprehensive medical, dental, and vision insurance; Lifestyle Spending Account providing an annual stipend to support wellbeing activities
• Work-Life Balance: Five weeks of vacation for new employees; 11 paid holidays per year; allocation of remote days to use as needed throughout the year within our collaborative, in-office operating model
• Professional Development: Training opportunities through upskilling, mentorship programs, and tuition reimbursement; Buddy Program pairing new hires with tenured employees
• Retirement: 401(k) and pension plan
• Additional Perks: Central downtown location at the Old Post Office with easy access to public transportation and breathtaking rooftop views