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Contract Model Risk Governance Jobs in Fairfax, VA

Samprasoft

IT Project Manager Professional

Mclean, VA · On-site

$101K - $119.50K/yr

Maintain and implement model risk governance framework within the regulatory environment and maintain all governance documents. Build and maintain data quality reporting. * Maintenance and management ...

Samprasoft

Mid Project Manager | McLean VA ONLY |

Mclean, VA · Hybrid

$101K - $119.50K/yr

Maintain and implement model risk governance framework within the regulatory environment and maintain all governance documents. Build and maintain data quality reporting. Maintenance and management ...

Sallie_mae

Manager, Credit Risk

Sterling, VA · On-site

... and supporting models/tools, with an emphasis on governance, performance outcomes, and risk ... alignment. * Support issue management activities, including identification, root cause assessment ...

Guidehouse

Model Validation Lead

Mclean, VA · On-site

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

Guidehouse

Model Validation Lead

Mclean, VA · On-site

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

Guidehouse

Model Validation Lead

Arlington, VA · On-site

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

AMA CONSULTING LLC.

AI Governance Lead

Lanham, MD · On-site

Design AI governance models supporting responsible AI implementation. * Develop AI risk assessment frameworks for federal mission environments. * Establish policies for model transparency ...

ECS

Supply Chain Risk Management Lead

Falls Church, VA · On-site

This position is contingent upon contract award. The War Data Platform (WDP) is a key initiative ... risk governance across the WDP Core Integration program, directing the full lifecycle of third ...

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Contract Model Risk Governance information

See Fairfax, VA salary details

$10

$46

$145

How much do contract model risk governance jobs pay per hour?

As of May 28, 2026, the average hourly pay for contract model risk governance in Fairfax, VA is $46.73, according to ZipRecruiter salary data. Most workers in this role earn between $15.24 and $73.70 per hour, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive in Contract Model Risk Governance, and why are they important?

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 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 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 Fairfax, VA? For Contract Model Risk Governance jobs in Fairfax, VA, the most frequently searched job titles are:
What job categories do people searching Contract Model Risk Governance jobs in Fairfax, VA look for? The top searched job categories for Contract Model Risk Governance jobs in Fairfax, VA are:
What cities near Fairfax, VA are hiring for Contract Model Risk Governance jobs? Cities near Fairfax, VA with the most Contract Model Risk Governance job openings:
Contract Model Risk Governance jobs near you

Operational Risk Manager (AVP)

Amalgamated Bank of NY

Washington, DC • On-site

$90K - $110K/yr

Full-time

Posted 24 days ago

Job description

This role will reside within the Firm’s Enterprise Risk Management Department. As an Assistant Vice President (AVP) in the second line of defense, you will support independent oversight and effective challenge across the Enterprise’s operational and model risk profiles. The role partners closely with the 1st Line of Defense to support risk identification, control design, and remediation execution, while helping to promote alignment to the Bank’s risk appetite, policies, and regulatory expectations. Key responsibilities include:

Essential Job Functions:

1. Operational Risk Management (2nd Line Oversight):

a. Support the ongoing enhancement and governance of the operational risk framework, including policies, standards, procedures, and methodologies to identify, assess, monitor, and manage operational risk exposures.

b. Facilitate and support effective challenge to risk and control self-assessments (RCSAs) conducted by the 1st LoD and other stakeholders, helping to ensure assessments are timely, risk-based, consistently executed, and appropriately documented.

c. Support risk awareness through training, guidance, and coaching for 1st LoD stakeholders across Functions, promoting adherence to policy requirements and consistent application of risk standards and best practices.

d. Partner with business and control functions to support the development, execution, and sustainability of risk mitigation plans and control enhancements; monitor progress and raise concerns when remediation is not effective or timely.

e. Assist with analyzing operational risk trends, events, and emerging issues; contribute to management reporting and recommendations to help strengthen the control environment.

f. Support monitoring of applicable regulatory requirements and industry standards related to operational risk management, and assist with regulatory exams and information requests.

g. Contribute to activities supporting the Bank’s operational risk appetite, tolerances, and limits; help assess business activities against those parameters and provide input on risk treatment options.

h. Support scenario analysis and related analytics used to evaluate tail risk (adverse and severely adverse), and help communicate key assumptions, limitations, and outcomes to stakeholders.

  1. Risk Governance and Reporting:

a. Support risk governance processes, including policy adherence, issue management, and committee routines; provide guidance to stakeholders on governance expectations and control standards.

b. Prepare and update risk reporting and governance materials for senior management and other stakeholders, translating risk information into clear themes, drivers, and proposed actions.

c. Coordinate with Internal Audit, Compliance, Legal, and other stakeholders to support examinations and audits, respond to findings, and help track risk issues through remediation and closure.

  1. Risk Measurement and Reporting:

a. Support the maintenance of key risk indicators (KRIs), metrics, and thresholds to monitor risk profile changes; help validate data quality and support alignment to risk appetite.

b. Assist with periodic risk reporting for senior management and other stakeholders, highlighting key risks, control gaps, remediation status, and thematic insights.

Knowledge, Skills and Experience Requirements:

Required

  1. Bachelor’s degree or equivalent experience.
  2. 5+ years of experience in Operational risk/Enterprise Risk Management in financial services industry.
  1. Excellent communication skills, both verbal and written, and an ability to present ideas concisely and persuasively communications skills.
  2. Demonstrated ability to think strategically and align risk management initiatives with organization’s goals and objectives.
  3. Ability to influence the thinking of, or gain acceptance from, others in sensitive situations, without damage to relationships.
  1. Demonstrate strong relationship building, business judgment, problem identification and problem resolution skills.
  1. Demonstrated experience in responding to regulatory requests.
  2. Knowledge of risk management frameworks, risk taxonomies and methodologies.
  1. Experience within a financial institution.

Desired

  1. Knowledge of GRC software solutions.
  2. Knowledge of Model Risk Management.
  3. Industry certifications in Risk Management.


Our job titles may span more than one career level. The starting base salary for this role is between $90,000 – $110,000. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.

Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans. AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement. Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.

Hybrid Work Model
Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely. Please note, this Hybrid work model guidance does not apply to roles that have been designated as “remote”.

Search Firm Representatives- Please Read Carefully
Amalgamated Bank does not accept unsolicited assistance from search firms for employment opportunities. All CVs / resumes submitted by search firms to any employee at our company without a valid written search agreement in place for the position will be deemed the sole property of our company. No fee will be paid in the event a candidate is hired by our company as a result of an agency referral where no pre-existing agreement is in place. Where agency agreements are in place, introductions are position specific. Please, no phone calls or emails.