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Contract Model Risk Governance Jobs in Manhattan, NY

Royal Bank of Canada

Director, Model Risk

Jersey City, NJ · On-site

$185K - $260K/yr

Lead or monitor key 1LOD control execution and governance activities (e.g., model inventories) and ... Drive or influence enhanced risk metrics to ensure comprehensive risk coverage and accurate ...

Royal Bank of Canada

Director, Model Risk

Jersey City, NJ · On-site

$185K - $260K/yr

Lead or monitor key 1LOD control execution and governance activities (e.g., model inventories) and ... Drive or influence enhanced risk metrics to ensure comprehensive risk coverage and accurate ...

Royal Bank of Canada

Director, Model Risk

Manhattan, NY · On-site

$185K - $260K/yr

Lead or monitor key 1LOD control execution and governance activities (e.g., model inventories) and ... Drive or influence enhanced risk metrics to ensure comprehensive risk coverage and accurate ...

Merican

Context Engineer (Model Risk Focus)

New York, NY · On-site

$50 - $53/hr

This role supports model lifecycle and risk governance through domain aware context engineering. Key Responsibilities * Design and optimize prompting and contextual structures to shape model behavior.

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All JobsContract Model Risk Governance JobsContract Model Risk Governance Jobs in Manhattan, NY

Contract Model Risk Governance information

See Manhattan, NY salary details

$11

$50

$157

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

As of Aug 1, 2026, the average hourly pay for contract model risk governance in Manhattan, NY is $50.45, according to ZipRecruiter salary data. Most workers in this role earn between $16.44 and $79.57 per hour, depending on experience, location, and employer.

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 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 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.
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Contract Model Risk Governance jobs near you

Senior Vice President, Model Risk Governance

BNY

Manhattan, NY

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 11 days ago

Job description

We're seeking a future team member for the role of Senior Vice President, Model Risk Governance to join our Risk and Compliance organization. This role is located in New York City. 

In this role, you'll make an impact in the following ways:

  • Maintain and enhance Model Risk Management (MRM) policies, standards, and procedures, and recommend improvements to model risk processes and controls as needed.

  • Support governance and reporting processes by contributing to key stakeholder meetings, forums, and committees, ensuring transparent and effective oversight of the MRM framework.

  • Partner with platforms, businesses, and functional teams across BNY to support the model identification process and help ensure the completeness and integrity of the model inventory.

  • Strengthen model risk culture across the firm by supporting model risk communications and training for MRM and key stakeholders, while helping align practices with regulatory expectations and industry best practices.

  • Anticipate and respond to stakeholder requests and emerging governance needs, enhancing the effectiveness of model risk management practices across the organization.

  • Build, lead, and develop a high-performing Model Risk Management organization by attracting and retaining talent, setting clear expectations, and fostering a culture of independent thinking and constructive challenge.

To be successful in this role, we're seeking the following:

  • Bachelor's degree in a quantitative or business discipline such as Mathematics, Statistics, Economics, Finance, Engineering, Computer Science, Accounting, Risk Management, or Law, or an equivalent combination of education and directly relevant experience in risk, compliance, audit, or model governance.

  • 12+ years of relevant experience in model risk management, quantitative risk management, governance, compliance, audit, or a related field.

  • Demonstrated proficiency in governance, risk, and control frameworks, including the ability to translate regulatory expectations into practical business control requirements.

  • Proven record of thought leadership in model risk, quantitative risk management, or related domains, with strong strategic leadership, stakeholder management, and influencing skills.

  • People leadership experience with the ability to build, lead, and develop high-performing teams, while fostering a culture of accountability, effective challenge, and continuous development.

At BNY, our culture allows us to run our company better and enables employees' growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world's investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.

Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance - and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.

At BNY, our culture speaks for itself, check out the latest BNY news at BNY Newsroom & BNY LinkedIn

 Here's a few of our recent awards:

  • America's Most Innovative Companies, Fortune, 2025
  • World's Most Admired Companies, Fortune 2025
  • "Most Just Companies", Just Capital and CNBC, 2025

    Our Benefits and Rewards:

    BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

    BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

    BNY assesses market data to ensure a competitive compensation package for our employees. The expected base salary for this position when employment commences can be found in the Job Info section at the bottom of the posting. 

    Base salary offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. Base salary is only part of the total rewards package, which may include eligibility for an annual discretionary incentive award. Subject to the terms and conditions of the applicable plans then in effect, eligible employees may enroll in a 401(k) plan as well as participate in Company-sponsored medical, dental, vision, and basic life insurance plans for the employee and the employee's eligible dependents. Eligible employees also may receive other benefits (including various paid time off benefits, such as vacation and sick time), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

    If hired, the employee will be in an "at will" position and the Company reserves the right to modify base salary (as well as any other discretionary payments or compensation programs) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

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