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Contract Model Risk Governance Jobs in New York (NOW HIRING)

Jobtailor

AI Trust and Governance Leader

Manhattan, NY · On-site

$150 - $210/hr

Establish governance model for AI use cases, including intake risk tiering, approvals, and ongoing monitoring. * Lead executive reporting on AI risk and governance, synthesizing complex technical and ...

US Bank

Senior Market Risk Manager

New York, NY

Partner with Front Office, Quantitative Development, Model Risk Governance, Finance, Technology, Operations, and other control functions to resolve data quality issues, model limitations, valuation ...

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Contract Model Risk Governance information

What is contract model risk governance?

Contract Model Risk Governance refers to the framework and processes used by organizations to identify, assess, monitor, and mitigate risks associated with the use of models in contracts or contractual obligations. This role ensures that the use of quantitative models in financial and business contracts complies with regulatory standards and internal policies, reducing the likelihood of errors, misinterpretations, or financial losses. Professionals in this field often oversee model validation, implementation, and documentation, and work closely with compliance, risk, and legal teams. Effective governance helps maintain model integrity and supports sound decision-making across the organization.

What are the key skills and qualifications needed to thrive in contract model risk governance?

To excel in Contract Model Risk Governance, you need a strong background in risk management, quantitative analysis, and familiarity with regulatory requirements, often supported by a degree in finance, mathematics, or a related field. Proficiency with risk management software, model validation tools, and knowledge of frameworks such as SR 11-7 is typically required. Attention to detail, critical thinking, and effective communication are crucial soft skills for evaluating model risk and collaborating with stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and support sound decision-making within financial institutions.

What are some common challenges faced by professionals in contract model risk governance roles, and how can they be addressed?

Professionals in Contract Model Risk Governance often encounter challenges such as keeping up with evolving regulatory requirements, ensuring thorough model documentation, and effectively communicating risk findings to both technical and non-technical stakeholders. Balancing the need for detailed model validation with tight project timelines can also be demanding. To address these challenges, it's important to foster strong cross-functional collaboration, stay updated on industry best practices, and develop clear communication strategies for reporting risk and compliance issues.

What is the difference between Contract Model Risk Governance vs Contract Model Validation?

AspectContract Model Risk GovernanceContract Model Validation
Primary FocusOverseeing and managing risks associated with contract models, ensuring compliance and risk mitigationAssessing and testing contract models to ensure accuracy and reliability
ResponsibilitiesEstablishing policies, monitoring risk exposure, and implementing controlsPerforming independent reviews, testing model assumptions, and validating outputs
Work EnvironmentRisk management teams, compliance departments, regulatory interactionsQuantitative teams, model validation units, audit functions

While Contract Model Risk Governance focuses on managing and overseeing risks related to contract models, Contract Model Validation involves the technical assessment and testing of those models to ensure their accuracy and reliability. Both roles are essential in a comprehensive risk management framework within financial institutions and industries relying on contract models.

What are the most commonly searched types of Model Risk Governance jobs in New York?

The most popular types of Model Risk Governance jobs in New York are:

What are popular job titles related to Contract Model Risk Governance jobs in New York?

For Contract Model Risk Governance jobs in New York, the most frequently searched job titles are:

What job categories do people searching Contract Model Risk Governance jobs in New York look for?

The top searched job categories for Contract Model Risk Governance jobs in New York are:

What cities in New York are hiring for Contract Model Risk Governance jobs?

Cities in New York with the most Contract Model Risk Governance job openings:

Contract Model Risk Governance jobs near you
Infographic showing various Contract Model Risk Governance job openings in New York as of August 2026, with employment types broken down into 1% As Needed, 82% Full Time, 15% Part Time, and 2% Contract. Highlights an 89% Physical, 4% Hybrid, and 7% Remote job distribution.

Risk Management - Quant Modeling Director - Executive Director

JP Morgan Chase

Jersey City, NJ • On-site

Full-time

Medical, Retirement

Re-posted 18 days ago

JPMorgan Chase & Co. rating

8.0

Company rating: 8.0 out of 10

Based on 496 frontline employees who took The Breakroom Quiz

71st of 171 rated banks

Job description

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Risk Management - Quant Modeling Director - Executive Director in Model Risk Governance & Review (MRGR), you lead model validation and governance. You help us ensure models are used appropriately and support business decisions. You collaborate with diverse teams to monitor model performance and implement risk mitigation. You contribute to a culture of innovation and continuous improvement.

Job responsibilities:

  • Lead model reviews; evaluate the conceptual soundness; reasonableness of assumptions and reliability of inputs; completeness of testing; model robustness; performance metrics and risk measures associated with model use. Conduct independent testing.
  • Review models used in retail lending, CCAR, PPNR, and forecasting. identifying applicable regulatory requirements, including SR 26-2 and SR 15-18. Apply there requirements to model validation; assess the severity of stress projections and the support for those projections; assessing model sensitivity to assumptions and macroeconomic variables. Evaluate the reasonableness of model overlays, including rationale, methodology, and impact. 
  • Measure model risk
  • Maintain model risk controls
  • Participate to automation adoption for model review
  • Stay current on industry developments

  • Assist in training junior team members

Required qualifications, capabilities, and skills:

  • Bachelors in a quantitative or similar discipline
  • 10+ years relevant experience, 5+ years in model development/validation for retail financial products
  • Leadership in model governance
  • Experience with CCAR regulatory requirements and other relevant regulatory requirements
  • Expertise in retail banking products
  • Risk & Control mindset

  • Excellent written and verbal communication skills

Preferred qualifications, capabilities, and skills:

  • PhD or Master's in quantitative discipline similar discipline
  • Experience with model validation for credit underwriting, risk management, and capital planning
  • Familiarity with model risk management practices
  • Ability to collaborate with Risk, Finance, Control, and LOB professionals
  • Knowledge of industry standards
  • Experience with automation solutions in model review
  • Training and mentoring skills
  • Strong analytical and problem-solving abilities
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process. 

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.

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