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Contract Model Risk Governance Jobs (NOW HIRING)

Mercury

Senior Model Risk Manager - AI/ML

The Senior Model Risk Manager - AI/ML will define model governance for AI/ML, overseeing validation and monitoring of models while engaging in industry-wide discussions on evolving model risk ...

Mercury

Senior Model Risk Manager - AI/ML

The Senior Model Risk Manager - AI/ML will define model governance for AI/ML, overseeing validation and monitoring of models while engaging in industry-wide discussions on evolving model risk ...

Mercury

Senior Model Risk Manager - AI/ML

The Senior Model Risk Manager - AI/ML will define model governance for AI/ML, overseeing validation and monitoring of models while engaging in industry-wide discussions on evolving model risk ...

American Express

Manager - Risk Management

Manhattan, NY · On-site

$98K - $150.25K/yr

Governance Framework: o Implement and maintain the organization's model risk management framework, policy, standards, and procedures. o Stay informed about relevant industry regulations and standards ...

Texas Capital Bank

Model Governance Lead

Richardson, TX · On-site

... model contract review and advisory, inventory management, risk rating, documentation reviews ... Prior model risk, model governance, EUC management experience is a strong plus; * Understand MRM ...

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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$10

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$142

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

As of Jun 1, 2026, the average hourly pay for contract model risk governance in the United States is $45.71, according to ZipRecruiter salary data. Most workers in this role earn between $14.90 and $72.12 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.

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Contract Model Risk Governance jobs near you
Infographic showing various Contract Model Risk Governance job openings in the United States as of May 2026, with employment types broken down into 1% As Needed, 96% Full Time, 1% Part Time, 1% Temporary, and 1% Contract. Highlights an 82% Physical, 7% Hybrid, and 11% Remote job distribution, with an average salary of $95,086 per year, or $45.7 per hour.
Risk Management - Model Risk Program Associate

Risk Management - Model Risk Program Associate

JP Morgan Chase

Jersey City, NJ

Full-time

Medical, Retirement

Posted 25 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 467 frontline employees who took The Breakroom Quiz

47th of 141 rated banks

Job description

Join JPMorgan Chase's Risk Management and Compliance team, where your expertise will help us anticipate and navigate emerging risks. As part of the Model Risk Governance and Review (MRGR) team, you'll conduct independent model validation and governance activities to mitigate model risk. Your knowledge will be instrumental in safeguarding the firm from decisions based on unreliable model outputs and ensuring robust model risk management practices. 

As an associate in the Model Risk Governance and Review team (CIB Wholesale Payments and Data Science), you will participate in independent model validation and governance activities, helping to identify, assess, and reduce model risk in the firm.  This position offers hands-on experience with diverse modeling approaches while keeping you up to date on the latest developments in products, AI/ML models, Generative AI, and risk management practices.

Job Responsibilities

  • Conduct independent model validation and governance activities to mitigate model risk across a diverse portfolio, including CIB Wholesale Payments, CIB Fraud, Marketing, and Operations models.

  • Engage in model validation activities and evaluate adherence to development standards including conceptual soundness of design, reasonableness of assumptions, reliability of inputs, completeness of testing, correctness of implementation, and suitability of performance metrics

  • Identify weaknesses, limitations, and emerging risks through independent testing, building benchmarks, and ongoing monitoring activities
  • Communicate risk assessments and findings to stakeholders, and document high quality technical reports
  • Assess and determine whether tools and applications qualify as models under the firm's model risk framework, distinguishing between models, analytical tools, and non-model applications

  • Liaise with Risk and Finance professionals to provide oversight and guidance on appropriate usage, controls around model restrictions and limitations, and findings for ongoing performance assessment and testing

  • Design, build, and test LLM-based use cases to enhance MRGR processes and improve operational efficiency

Required qualifications, capabilities and skills

  • Strong quantitative and analytical skills: The role requires a strong quantitative background based on a Master or PhD Degree in a quantitative discipline such as Math, Statistics, Economics, Finance, Engineering, or related fields

  • 2 plus years of experience in model validation, model development, quantitative analysis, or a related analytical role in financial services or a similar industry. 
  • Strong communication skills, with the ability to present complex concepts to both technical and non-technical audiences. Risk and control mindset: ability to ask incisive questions, assess materiality of model issues, and escalate issues appropriately
  • Strong foundation in statistics, with hands-on experience applying statistics and machine learning techniques, including Regression, Boosted Trees, Neural Networks, Support Vector Machines (SVM), and Large Language Models such as BERT. 
  • Proficiency in Python, with hands-on experience using libraries for data analysis, machine learning, and working with LLM frameworks and APIs
  • Experience with Generative AI applications, including Large Language Models, prompt engineering, RAG architectures, and building agentic AI systems.
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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