Risk Management Director Jobs in Chicago, IL
Risk Management Director jobs in Chicago are in strong demand, concentrated in the Loop, River North, and the Fulton Market corridor across financial services, insurance, healthcare, and corporate risk functions. Employers actively hiring include Options Clearing Corporation, FHLBank Chicago, and Northern Trust. Scan the live roles below and apply to whichever ones fit.
Find Risk Management Director JobsOverview
Showing 5 of 53+ Risk Management Director jobs
*****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****
To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.
*****INTERNS AND SEASONAL INTERNS ARE ELIGIBLE ONLY FOR PAID SICK LEAVE ACCRUED BASED ON HOURS WORKED. NO OTHER BENEFIT INCLUDING TECHNOLOGY STIPEND APPLY TO INTERNS OR SEASONAL INTERNS*****
Location: Chicago or Dallas
Internship type: Seasonal intern (12 weeks, summer 2027)
Hybrid Work Program
OCC operates under a Hybrid Work Program which, absent an approved exception, requires employees to work from an OCC office at least 3 days per week. To maximize in–person collaboration, Tuesday and Wednesday are considered anchor days, and all employees are expected to work in the office both days. Employees meeting performance expectations are generally permitted to select 2 other days per week to work remotely if desired. When working remotely, employees are generally expected to work from the state in which they reside, absent an exception approved by Human Resources. Additionally, OCC generally does not permit employees to work while traveling internationally.
About OCC:
A World Class Clearing Organization
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 21 exchanges and trading platforms.
OCC also provides free and engaging educational resources about the benefits and risks of options through its Options Industry Council (OIC).
OCC is building a culture that empowers continued learning, authentic innovation, and constant creativity.
About the Intern Program:
OCC is looking for interns who are eager to learn, humble enough to ask questions, and ready to think critically about complex problems. The OCC Internship Program equips students with the real-world skills needed to transition successfully into a career in financial services. As an intern, you will contribute to meaningful projects, applying your skills and knowledge to real challenges facing the business. Your time with us is a real opportunity to make a genuine impact on the future of OCC!
OCC's Summer Internship Program is a 12-week opportunity running either May through August or June through September, and is open to undergraduate and graduate students who are actively enrolled at a college or university. Interns work up to 40 hours per week in a hybrid work environment, and overtime is not permitted.
About the Team & Role
Credit Risk Management (CRM) sits within OCC's Financial Risk Management (FRM) division and is responsible for safeguarding OCC from counterparties such as Clearing Members, banks, pension funds, investment counterparties, and financial market utilities that exhibit elevated credit or operational risk or lack sound risk management programs. The team manages the full counterparty lifecycle from onboarding, monitoring, risk examinations, and off boarding.
An intern on CRM would get hands-on exposure to a live counterparty risk function and contribute to the team’s mandate of managing counterparty risk. Depending on team needs, the intern would be paired with CRM staff, exposed to senior stakeholders, and given direct visibility into how OCC's first line of defense manages counterparty credit risk in practice.
Job Summary & Responsibilities
- Supporting due diligence and financial statement analysis for Clearing Member or bank on-boarding applications.
- Assisting with Watch Level surveillance: pulling and reviewing financial/operational data to help identify emerging risk trends.
- Helping prepare materials for Clearing Member risk examinations (questionnaires, document requests, findings write-ups).
- Contributing to analysis and or reporting to management.
- Assisting with special projects (e.g., process enhancements, data transformation, code reviews, dashboard design, or credit rating model support) alongside Analysts and Associates on the team.
Candidate Qualifications
Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
Desired Majors
- Bachelor’s degree: preferably in Finance, Economics, Accounting, Risk Management, or a computational & quantitative major.
Technical Skills/Experience Desired
- Proficient in Microsoft Office, including Excel experience using lookups and pivot tables to perform data analysis, and comfortable developing PowerPoint presentations
- Ability to read and understand financial statements
- Excellent organization skills – must be detail oriented
- Strong verbal and written communication skills
- Familiarity with large relational data sets, programing languages (SQL, python, java), and data visualization tools preferred
Additional Qualifications
- Demonstrated analytical and problem-solving skills and the ability to work in a collaborative environment
About Us
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
Compensation
- The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
- In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
- We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
- All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.
Salary Range
$25.00 - $25.00Incentive Range
This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.
Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
Step 2
You will receive an email notification to confirm that we've received your application.
Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
For more information about OCC, please click here.
OCC is an Equal Opportunity Employer
*****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****
To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.
*****INTERNS AND SEASONAL INTERNS ARE ELIGIBLE ONLY FOR PAID SICK LEAVE ACCRUED BASED ON HOURS WORKED. NO OTHER BENEFIT INCLUDING TECHNOLOGY STIPEND APPLY TO INTERNS OR SEASONAL INTERNS*****
Location: Chicago or Dallas
Internship type: Seasonal intern (12 weeks, summer 2027)
Hybrid Work Program
OCC operates under a Hybrid Work Program which, absent an approved exception, requires employees to work from an OCC office at least 3 days per week. To maximize in–person collaboration, Tuesday and Wednesday are considered anchor days, and all employees are expected to work in the office both days. Employees meeting performance expectations are generally permitted to select 2 other days per week to work remotely if desired. When working remotely, employees are generally expected to work from the state in which they reside, absent an exception approved by Human Resources. Additionally, OCC generally does not permit employees to work while traveling internationally.
About OCC:
A World Class Clearing Organization
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 21 exchanges and trading platforms.
OCC also provides free and engaging educational resources about the benefits and risks of options through its Options Industry Council (OIC).
OCC is building a culture that empowers continued learning, authentic innovation, and constant creativity.
About the Intern Program:
OCC is looking for interns who are eager to learn, humble enough to ask questions, and ready to think critically about complex problems. The OCC Internship Program equips students with the real-world skills needed to transition successfully into a career in financial services. As an intern, you will contribute to meaningful projects, applying your skills and knowledge to real challenges facing the business. Your time with us is a real opportunity to make a genuine impact on the future of OCC!
OCC's Summer Internship Program is a 12-week opportunity running either May through August or June through September, and is open to undergraduate and graduate students who are actively enrolled at a college or university. Interns work up to 40 hours per week in a hybrid work environment, and overtime is not permitted.
About the Team & Role
Credit Risk Management (CRM) sits within OCC's Financial Risk Management (FRM) division and is responsible for safeguarding OCC from counterparties such as Clearing Members, banks, pension funds, investment counterparties, and financial market utilities that exhibit elevated credit or operational risk or lack sound risk management programs. The team manages the full counterparty lifecycle from onboarding, monitoring, risk examinations, and off boarding.
An intern on CRM would get hands-on exposure to a live counterparty risk function and contribute to the team’s mandate of managing counterparty risk. Depending on team needs, the intern would be paired with CRM staff, exposed to senior stakeholders, and given direct visibility into how OCC's first line of defense manages counterparty credit risk in practice.
Job Summary & Responsibilities
- Supporting due diligence and financial statement analysis for Clearing Member or bank on-boarding applications.
- Assisting with Watch Level surveillance: pulling and reviewing financial/operational data to help identify emerging risk trends.
- Helping prepare materials for Clearing Member risk examinations (questionnaires, document requests, findings write-ups).
- Contributing to analysis and or reporting to management.
- Assisting with special projects (e.g., process enhancements, data transformation, code reviews, dashboard design, or credit rating model support) alongside Analysts and Associates on the team.
Candidate Qualifications
Rising senior or second-year graduate student, graduating December 2027 or May/August 2028.
Desired Majors
- Bachelor’s degree: preferably in Finance, Economics, Accounting, Risk Management, or a computational & quantitative major.
Technical Skills/Experience Desired
- Proficient in Microsoft Office, including Excel experience using lookups and pivot tables to perform data analysis, and comfortable developing PowerPoint presentations
- Ability to read and understand financial statements
- Excellent organization skills – must be detail oriented
- Strong verbal and written communication skills
- Familiarity with large relational data sets, programing languages (SQL, python, java), and data visualization tools preferred
Additional Qualifications
- Demonstrated analytical and problem-solving skills and the ability to work in a collaborative environment
About Us
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
Compensation
- The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
- In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
- We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
- All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.
Salary Range
$25.00 - $25.00Incentive Range
This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.
Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
Step 2
You will receive an email notification to confirm that we've received your application.
Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
For more information about OCC, please click here.
OCC is an Equal Opportunity Employer
See All 53 Risk Management Director Jobs in Chicago
Find roles in Chicago that match your experience and apply in just a few clicks.
Find Risk Management Director JobsRisk Management Director Job Market in Chicago
Who's Hiring
Top Industries Hiring
- Banking & Financial Services
- Technology & Software
- Investment & Asset Management
Risk Management Director Jobs in Chicago: Frequently Asked Questions
How do I get a risk management director job in Chicago?
Focus your search on Chicago's Loop and River North financial district, where banks, insurance carriers, and corporate headquarters cluster. Enterprise risk, credit risk, and operational risk specializations travel well in this market. Candidates with ERM framework experience and a FRM or CRM credential stand out with the large financial institutions and insurers concentrated downtown. Familiarity with Midwest regulatory environments and Chicago-area counterparty relationships also helps.
Which companies hire risk management directors in Chicago?
Chicago risk management director roles are posted by Options Clearing Corporation, FHLBank Chicago, and Northern Trust and others right now, based on current listings on Migrate Mate as of October 2026. Chicago's employer base skews heavily toward large financial institutions, global insurance groups, major healthcare systems, and Fortune 500 corporate risk departments, all of which maintain dedicated risk leadership teams.
Are there remote risk management director jobs in Chicago?
Yes, though availability depends on the role type: analytical and ERM strategy positions tend to be more remote-friendly than operational or compliance-intensive ones. About 79% of risk management director openings tied to Chicago are remote or hybrid as of October 2026, reflecting a market that has embraced flexible arrangements for senior risk professionals. Model oversight and policy development work is most commonly offered on a hybrid basis.
How can I get a risk management director job in Chicago with little or no experience?
The most realistic path is a lateral move through Chicago's deep bench of financial services and insurance firms, stepping up from a senior risk analyst or risk manager role. Large banks headquartered in the Loop, regional insurance carriers on Wacker Drive, and major healthcare networks in Streeterville regularly promote from within. Earning a CRM or FRM credential accelerates that transition, and Chicago's active GARP chapter is a practical networking resource.
Which industries hire the most risk management directors in Chicago?
The sectors hiring the most risk management directors in Chicago are Banking & Financial Services, Technology & Software, and Investment & Asset Management, based on current listings on Migrate Mate as of October 2026. Chicago's role as a national hub for commodities trading, banking, and insurance, combined with its large hospital systems and diversified corporate base, concentrates risk leadership demand well above the national average for a single metro.
Related Jobs in Illinois
See All 53 Risk Management Director Jobs in Chicago
Find roles in Chicago that match your experience and apply in just a few clicks.
Find Risk Management Director Jobs