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Contract Model Risk Governance Jobs in Ohio (NOW HIRING)

... Risk Management in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.

AVP, Model Validation

Canton, OH · On-site

$100K - $170K/yr

... Risk Management in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.

Agentic AI Lead

Cleveland, OH · Remote

$116K - $216K/yr

Guide prompt design, tool orchestration, and agent interaction models 4. Risk, Governance & Controls * Define and implement guardrails for AI agents (accuracy thresholds, explainability, bias ...

Quantitative Model Analyst - AML

Cincinnati, OH · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

... governance of AML Transaction Monitoring models. The individual will partner closely with model owners, Model Risk Management, internal and external auditors, and senior leadership to evaluate model ...

Quantitative Model Analyst - AML

Columbus, OH · On-site

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

... governance of AML Transaction Monitoring models. The individual will partner closely with model owners, Model Risk Management, internal and external auditors, and senior leadership to evaluate model ...

Showing results 21-40

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 popular job titles related to Contract Model Risk Governance jobs in Ohio?

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

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

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

Home Lending Modeling & Strategic Forecast - Senior Associate

JPMorgan Chase & Co

Columbus, OH

$80K - $100K/yr

Full-time

Medical, Retirement

Re-posted 16 days ago


JPMorgan Chase & Co. rating

8.0

Company rating: 8.0 out of 10

Based on 495 frontline employees who took The Breakroom Quiz

72nd of 171 rated banks


Job description

Join our team to lead the development and enhancement of advanced forecasting models for Home Lending Finance, driving strategic decisions and regulatory compliance through high-quality analytics and cross-functional collaboration.

As a Senior Associate in Home Lending Planning and Analysis (P&A), you will lead the development and enhancement of advanced forecasting models that drive strategic decision-making and regulatory compliance. You'll collaborate with cross-functional teams to deliver high-quality analytics and implement innovative technologies. This role offers significant opportunities for professional growth and impactful contributions to the organization's financial and operational objectives.

Job responsibilities

  • Develop, refine, and maintain qualitative and quantitative models, including time series forecasting, econometric, and machine learning models, in alignment with firm's model risk guidelines and regulatory requirements.

  • Lead statistical model enhancements and perform in-depth analysis, including evaluation of look-back time frames, alternative methodologies, and optimization of model assumptions.

  • Assist with issue resolution for model-related challenges, ensuring timely identification, escalation, and closure of issues. Prepare and maintain model documentation for regulatory submissions and senior management reports, ensuring accuracy, completeness, and compliance.

  • Support model assumptions and methodologies in technical documentation and during discussions with Model Risk Governance and Review and other stakeholders.

  • Interface with multiple stakeholders, including Home Lending leadership, business finance, technology, risk to communicate findings, resolve issues, and drive process improvements.

  • Conduct business and process due diligence to develop functional requirement documents and support user acceptance testing (UAT), including test planning, execution, and training documentation.

  • Evaluate, introduce, and deploy new tools and technologies to the Home Lending team, developing use cases and leading technology transformation initiatives.

Required qualifications, capabilities, and skills

  • Master's degree required in Finance, Accounting, Economics, Analytics, Engineering, Mathematics, Statistics, or a related quantitative field.

  • 5+ years of experience in finance, management consulting, analytics, risk, or financial planning & analysis roles.

  • Advanced quantitative, analytical, and problem-solving skills, with hands-on experience in econometric modeling (e.g., OLS, time series) and familiarity with machine learning techniques.

  • Proficiency in Python (required), SQL, and strong knowledge of Microsoft Office.

  • Experience with analytical and database platforms such as Essbase, Tableau, Alteryx, and Databricks.

  • Project management experience, with the ability to manage multiple tasks and deliverables simultaneously.

  • Excellent written and verbal communication skills, with the ability to create clear and concise documentation and communicate effectively with stakeholders at all levels, including governance forums.

Preferred qualifications, capabilities, and skills

  • PhD degree preferred in a quantitative field.
  • CFA/FRM certification a plus.
  • Experience in mortgage banking, regulatory reporting, and model risk management.
  • Data science, AI/ML, and automation experience.
  • Understanding of macroeconomic and business environments.

Chase is a leading financial services firm, helping nearly half of America's households and small businesses achieve their financial goals through a broad range of financial products. Our mission is to create engaged, lifelong relationships and put our customers at the heart of everything we do. We also help small businesses, nonprofits and cities grow, delivering solutions to solve all their financial needs. 

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.

Equal Opportunity Employer/Disability/Veterans

Our Consumer & Community Banking division serves our Chase customers through a range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. We're proud to lead the U.S. in credit card sales and deposit growth and have the most-used digital solutions - all while ranking first in customer satisfaction.

The CCB Data & Analytics team responsibly leverages data across Chase to build competitive advantages for the businesses while providing value and protection for customers. The team encompasses a variety of disciplines from data governance and strategy to reporting, data science and machine learning. We have a strong partnership with Technology, which provides cutting edge data and analytics infrastructure. The team powers Chase with insights to create the best customer and business outcomes.

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