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Contract Model Risk Governance Jobs in Phoenix, AZ

US Bank

Quantitative Model Analyst 3 - AML

Tempe, AZ

... 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 ...

Arkhya Tech

GenAI Solutions Leader

Phoenix, AZ

Desired Qualifications 5+ years across the AI/ML lifecycle: data management, feature engineering, model development, deployment, monitoring/observability, and model risk/governance. Experience in ...

New

Northern Trust

Voice ID Consultant

Tempe, AZ

Participate in governance activities with Model Risk, IT Risk, Fraud, and Privacy partners. * Partner annually with Privacy to assess regulatory or legislative changes impacting Voice ID use. * Lead ...

Northern Trust

Voice ID Consultant

Tempe, AZ · On-site

Participate in governance activities with Model Risk, IT Risk, Fraud, and Privacy partners. * Partner annually with Privacy to assess regulatory or legislative changes impacting Voice ID use. * Lead ...

Northern Trust

Voice ID Consultant

Tempe, AZ · On-site

Participate in governance activities with Model Risk, IT Risk, Fraud, and Privacy partners. * Partner annually with Privacy to assess regulatory or legislative changes impacting Voice ID use. * Lead ...

Northern Trust

Voice ID Consultant

Tempe, AZ

Participate in governance activities with Model Risk, IT Risk, Fraud, and Privacy partners. * Partner annually with Privacy to assess regulatory or legislative changes impacting Voice ID use. * Lead ...

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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 Phoenix, AZ is $45.39, according to ZipRecruiter salary data. Most workers in this role earn between $14.81 and $71.59 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 the most commonly searched types of Model Risk Governance jobs in Phoenix, AZ? The most popular types of Model Risk Governance jobs in Phoenix, AZ are:
What are popular job titles related to Contract Model Risk Governance jobs in Phoenix, AZ? For Contract Model Risk Governance jobs in Phoenix, AZ, the most frequently searched job titles are:
What job categories do people searching Contract Model Risk Governance jobs in Phoenix, AZ look for? The top searched job categories for Contract Model Risk Governance jobs in Phoenix, AZ are:
Contract Model Risk Governance jobs near you
Infographic showing various Contract Model Risk Governance job openings in Phoenix, AZ as of May 2026, with employment types broken down into 2% As Needed, 69% Full Time, 25% Part Time, 1% Temporary, and 3% Contract. Highlights an 84% Physical, 1% Hybrid, and 15% Remote job distribution, with an average salary of $94,412 per year, or $45.4 per hour.

Manager, Model Risk Management

Global Credit Union

Glendale, AZ • On-site

$100.33K - $172.57K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 26 days ago

Global Credit Union rating

8.8

Company rating: 8.8 out of 10

Based on 16 frontline employees who took The Breakroom Quiz

Job description

Overview
Reports to: Senior Manager, Enterprise Risk
Functions Supervised: Model Risk Management
Primary Functions: Responsible for the development and implementation of model risk policies, procedures, and processes in line with industry standards and regulatory best practices.
Duties and Responsibilities:
  1. Coordinate with First Line risk and compliance teams to facilitate model risk management practices and execution of the credit union's Model Risk Management program. Identify and maintain model inventories, conduct risk assessments, and develop model risk metrics. Monitor, report and communicate model risk findings.
  2. Provide independent second-line assessment and effective challenge in the credit union's capital planning and stress testing models, economic / stress scenarios, capital adequacy, and specific risk areas such as liquidity, interest rate, and credit, based on the credit union's risk profile. Coordinate with third parties on their model validation.
  3. Independently conduct hands-on validation and testing throughout the model development process
  4. Partner with subject matter experts and leaders to ensure execution of requisite control activities.
  5. Keep track of the remediation progress and final validation before closure in the credit union's GRC platform, LogicManager.
  6. Enhance policies and procedures, assist with model governance activities.
  7. Produce model risk reports for applicable committees and senior/executive management.
  8. Research, develop, and maintain knowledge and skills through completion of continuing education and training pertinent to the position.
  9. Participate as needed on special projects and other duties as assigned.

Qualifications
Education: Bachelor's degree in mathematics, statistics, information technology, business, economics, finance, or related fields.
Creditable Experience in Lieu of Education: Not Applicable
Experience/Skills: 5+ years' experience in risk management processes, model development / validation, consulting, banking or other financial services industries.
Experience in a similar position with direct experience in model risk management, financial analysis regulatory compliance, enterprise risk management, and second-line challenge functions. Must have the ability to communicate effectively both orally and via written reports and analysis. Demonstrated ability to exercise good judgment and draw valid conclusions from data and analytics gathered. Ability to communicate/influence complex issues. Flexible approach to new projects, requirements, and workplace
demands. Familiar with modelling tools and methodologies used in the industry. Ability to think outside the box, and design scalable, efficient solutions.
Tenure: Not Applicable
Compensation
Starting base salary will be determined based on candidate experience, qualifications, education, and applicable local or state wage requirements, and will fall within the range provided below. In accordance with our Salary Administration policy, new hire base salaries generally fall between the minimum and midpoint of the listed range.
Salary Pay Range: 06
$100,331 - $172,572 annually
Benefits
  • Short-term and long-term incentives
  • Comprehensive medical, dental and vision insurance plan that has HSA and FSA options
  • 401(k) plan with a 5% match
  • Employee Assistance Program (EAP)
  • Life and disability coverage
  • Voluntary cash benefits for accident, hospitalization and critical illness
  • Tuition Reimbursement
  • Generous leave programs to include Paid Time Off accrual, Paid Sick Leave, Paid Holidays
  • Click here to view Global's comprehensive Benefits Programs

Equal Opportunity Employer

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