Quantitative Risk Management Consultant

Chamberlain Advisors; Chicago (IL); On-site; USD 70,257 - 78,523; Full time

Benefits offered by this job

401K

Healthcare and Dental Insurance Plan

Job summary

Chamberlain Advisors is seeking a Quantitative Risk Management Consultant in Chicago, IL to support risk management activities. The role includes executing code release testing, validating models, and collaborating with IT teams. Candidates need a Master's degree in a related field and excellent programming skills. Compensation includes a competitive hourly rate, along with benefits such as 401K and healthcare options. This position is critical in ensuring the accuracy and reliability of risk models in a dynamic environment.

Qualifications

• Strong quantitative and analytical background.
• Experience in quantitative risk modeling and statistical models.
• Knowledge of financial markets.

Responsibilities

• Execute code release testing for quantitative risk systems.
• Perform historical data validation for model inputs.
• Collaborate with Quantitative Risk and IT teams to resolve issues.

Skills

Quantitative and analytical background

Programming in C++/C#, R, VBA, SQL

Excellent communication skills

Knowledge of financial markets

Education

Master's in Computer Science, Financial Engineering, Mathematics or related

Tools

Statistical models in risk management

Derivatives modeling and volatility models

Job description

Title: Quantitative Risk Management Consultant

Location: Chicago, IL – 5 days in office

Duration & Type: 12 Month Contract to Start

Compensation: Competitive W2 Hourly Rate ($51 - $57), 401K, Access to Healthcare and Dental Insurance Plan of Choice (Benefit Plans can be requested at time of submission to client)

Chamberlain Advisors is seeking a Quantitative Risk Management Consultant to support day‑to‑day activities within a Clearing and Risk Management organization. This role partners closely with Quantitative Risk and IT teams to support the development, analysis, testing, and validation of margin and risk models across multiple asset classes. The consultant will play a critical role in ensuring the quality, accuracy, and reliability of quantitative risk models through rigorous testing, historical data validation, back‑testing, and code release validation. This position requires strong independent problem‑solving skills, a deep quantitative background, and the ability to deliver high‑quality results in a regulated, fast‑paced environment.

What You’ll Be Accountable For

• Execute code release testing for quantitative risk systems and models across scheduled releases.
• Perform historical data validation to ensure accuracy and completeness of model inputs.
• Validate margin models, stress testing frameworks, and portfolio‑level risk calculations.
• Conduct portfolio back‑testing and analyze model performance under historical and stressed scenarios.
• Collaborate with Quantitative Risk and IT teams to identify, research, and resolve model or data issues.
• Independently analyze complex problems, formulate solutions, and implement corrective actions.
• Produce clear, thorough documentation of testing methodologies, findings, and outcomes.
• Ensure testing results meet internal quality standards and regulatory expectations.

What Qualifications You Need

• Master’s in Computer Science, Financial Engineering, Financial Mathematics, Mathematics, Physics, or a related discipline.
• Strong quantitative and analytical background.
• Excellent programming, communication, and documentation skills.
• Knowledge of financial markets.
• Experience with advanced quantitative risk modeling and statistical models in risk management.
• Experience with advanced derivatives modeling and volatility models.
• Experience with programming languages such as C++/C#, R, VBA, and SQL.
• Preference for candidates who demonstrate best practices in developing risk models such as Historical VaR, Monte Carlo VaR, Multi‑Factor Risk Models, Stressed VaR, Liquidity Risk models, etc.

About The Client

Mixing powerful thinking and cutting‑edge technology, our client is where the world comes to manage risk. Offering the widest range of global benchmark products across all major asset classes, they create a marketplace for buyers and sellers that brings together individuals, companies, and institutions needing to manage risk. They serve as the counterparty to every trade that happens in the markets, protecting market integrity and virtually eliminating third‑party credit risk.

Why Work with Chamberlain?

Chamberlain Advisors is a veteran‑owned business that provides human capital solutions across a wide range of industries and engagement types. Candidates benefit from a recruitment process designed to increase the likelihood of success in the job search.

Equal Opportunity Employer

Chamberlain Advisors provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or genetics. In addition to federal law requirements, Chamberlain Advisors complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. Chamberlain Advisors expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of Chamberlain Advisors' employees to perform their job duties may result in discipline up to and including discharge.