ZipRecruiter

Log In

1

Director Model Risk Governance Jobs in Illinois (NOW HIRING)

U.S. Bancorp

Head of AI Delivery

Chicago, IL · On-site

$218K/yr

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory expectations in financial services * Ability to operate across complex, matrixed organizations and ...

US Bank

Quantitative Modeler Manager - AML

Chicago, IL · On-site

$56.50 - $73.25/hr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Bank Model Risk Governance standards, and collaborating with Model Risk Validation to address any concerns related to the models throughout the life of the program. * Ongoing model monitoring in ...

U.S. Bank

Head of AI Delivery

Chicago, IL · On-site

$218K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory expectations in financial services * Ability to operate across complex, matrixed organizations and ...

U.S. Bank

Head of AI Delivery

Chicago, IL · On-site

$218K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory expectations in financial services * Ability to operate across complex, matrixed organizations and ...

US Bank

Head of AI Delivery

Chicago, IL

$218K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory expectations in financial services * Ability to operate across complex, matrixed organizations and ...

ElectronX

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

S.-regulated, direct access electricity derivatives market, offering financial products to address ... Build the risk governance structure including policies, procedures, and escalation frameworks.

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

S.-regulated, direct access electricity derivatives market, offering financial products to address ... Build the risk governance structure including policies, procedures, and escalation frameworks.

MethodHub

AI Readiness Assessment Consultant

Chicago, IL · On-site

... our direct client. The consultant will conduct structured AI readiness assessments across key ... Model Risk Governance. * Ability to engage confidently with senior leadership across Financial Risk ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Define and enforce model governance standards (documentation, approvals, controls) * Ensure ... Provide risk dashboards and reporting to leadership 🔹 AI Risk & Audit Partnership * Act as ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Define and enforce model governance standards (documentation, approvals, controls) * Ensure ... Provide risk dashboards and reporting to leadership 🔹 AI Risk & Audit Partnership * Act as ...

previous pagenext page

Showing results 21-40

All JobsModel Risk Governance JobsDirector Model Risk Governance JobsDirector Model Risk Governance Jobs in Illinois

Director Model Risk Governance information

What is the difference between Director Model Risk Governance vs Model Risk Analyst?

AspectDirector Model Risk GovernanceModel Risk Analyst
CredentialsAdvanced degrees (e.g., Master’s, PhD), professional certifications (e.g., FRM, CFA)Bachelor’s or Master’s degree, relevant certifications
Work EnvironmentStrategic oversight, policy development, senior stakeholder engagementData analysis, model validation, risk assessment
Employer & Industry UsageFinancial institutions, banks, asset managersFinancial institutions, risk management teams
Search & Comparison IntentUnderstanding leadership roles in model risk governanceEntry to mid-level model risk roles, analysis tasks

The main difference is that the Director Model Risk Governance focuses on strategic oversight, policy setting, and managing model risk at a senior level, while the Model Risk Analyst handles technical validation, data analysis, and risk assessment tasks. The director role involves leadership and decision-making, whereas the analyst role is more technical and operational.

What are the key skills and qualifications needed to thrive as a director model risk governance?

To thrive as a Director of Model Risk Governance, you need deep expertise in quantitative finance, risk management, and model validation, often backed by an advanced degree in a quantitative field and relevant industry experience. Familiarity with risk management frameworks, regulatory standards (e.g., SR 11-7), and proficiency in analytical tools like Python, R, or SAS are typically required. Exceptional leadership, communication, and critical thinking skills help you effectively oversee teams and coordinate with stakeholders across the organization. These competencies are vital to ensure robust model governance, regulatory compliance, and informed risk-based decision-making at the enterprise level.

What is a director model risk governance?

Director Model Risk Governance roles are senior positions responsible for overseeing and managing the risks associated with financial and predictive models within an organization. These professionals establish and implement model risk management frameworks, ensure compliance with regulatory requirements, and oversee model validation processes. They collaborate with model developers, validators, and business units to identify, assess, and mitigate model risks, as well as report on governance effectiveness to senior management. Their work is crucial in maintaining the reliability and integrity of models used for decision-making and regulatory reporting.

What are some common challenges faced by a director model risk governance, and how can they be addressed?

A Director of Model Risk Governance often encounters challenges such as ensuring consistent model validation across diverse business units, keeping up with evolving regulatory requirements, and fostering effective communication between model owners, validators, and senior management. Addressing these challenges typically involves establishing robust model risk frameworks, maintaining clear documentation, and promoting a culture of transparency and collaboration. Regular training sessions and open forums can help bridge knowledge gaps, while leveraging technology can streamline model inventory and validation processes.

What are the most commonly searched types of Model Risk Governance jobs in Illinois?

The most popular types of Model Risk Governance jobs in Illinois are:

What are popular job titles related to Director Model Risk Governance jobs in Illinois?

For Director Model Risk Governance jobs in Illinois, the most frequently searched job titles are:

What job categories do people searching Director Model Risk Governance jobs in Illinois look for?

The top searched job categories for Director Model Risk Governance jobs in Illinois are:

What cities in Illinois are hiring for Director Model Risk Governance jobs?

Cities in Illinois with the most Director Model Risk Governance job openings:

Director Model Risk Governance jobs near you
Infographic showing various Director Model Risk Governance job openings in Illinois as of August 2026, with employment types broken down into 2% As Needed, 82% Full Time, 14% Part Time, and 2% Contract. Highlights an 88% Physical, 4% Hybrid, and 8% Remote job distribution.

Officer, Model and AI System Risk Management

Wintrust

Rosemont, IL • On-site

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 5 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

71st of 171 rated banks

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."
Why join us?
  • An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years).
  • Competitive pay and discretionary or incentive bonus eligible.
  • Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few.
  • Promote from within culture.

Why join this team?
  • We foster an inclusive environment for an individual to grow and work independently.
  • Opportunity to interact with management level, experienced professionals - higher visibility.
  • Wintrust has a great culture that comes from the top down.
  • Gain experience and further your career by joining a growing organization.

Position Overview
The Officer, Model and AI System Risk Management will conduct various activities related to enterprise model risk validation and model governance for AI Systems, Machine Learning models, as well as conventional models. This individual is accountable for independently validating the technical and functional soundness of bank-wide models including AI Systems, Machine Learning, CECL, Stress Testing, Anti-Money Laundering, Economic Sanctions, Customer Risk Ratings, Fair Lending, as well as valuation models.
What You'll Do
  • Perform independent and comprehensive validation of bank-wide AI systems/Machine Learning/statistical/econometric/ mathematical and qualitative (expert judgment) models in compliance with SR 26-02/OCC 2026-13, Model Risk Management (MRM) policy, AI policy, and internal procedures.
  • Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity, and performance accuracy, including back testing, sensitivity analysis, scenario analysis, benchmarking, and governance.
  • Provide effective and meaningful challenges during the following processes of model validation: Review of conceptual soundness; Review adequacy of modeling data; Materiality analysis of model assumptions and limitations; Review of model theoretical framework and design; Review of model performance.
  • Review of Model Documentation to ensure compliance with regulation/policy. Model documentation review should consist, amongst others, the following: Assessing the quality of model documentation; Reviewing documentation of developmental evidence; Review documentation of model governance; Review testing results in the model methodology document.
  • Design and execute a comprehensive and granular program for the following: Data Validation; Model theoretical framework and design; Assumptions and Limitations testing; Model Conceptual soundness; Back-testing; Model Effectiveness Testing, Sensitivity Analysis; Benchmarking for material portfolios; and developing benchmark Machine Learning models.
  • Maintain status updates and facilitate resolution/escalations of issues in a timely fashion.
  • Use MRM Model Validation tool to perform model validation activities.
  • The analyst in collaboration with the VP of Model Risk Management interfaces with key stakeholders throughout validation process to discuss justification and reasoning behind validation and review findings.
  • Manage activities related to model governance and assist VP model risk management in creating reports for the senior management, executive management, risk committees, and regulatory exams.
  • In collaboration with VP, Model Risk Management, determine whether response and remediation plan received from model owners and users in response to a finding adequately address findings. Follow up with model owners to ensure findings are remediated in a timely manner.

Qualifications
  • 2-5 Years of experience related to data science, AI systems, machine learning models, model development, and validation experience related to credit risk (Consumer and Commercial), Liquidity, Compliance (BSA/AML, Fair Lending), CECL.
  • Master's degree or PhD preferred.

Benefits
Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long-term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance
Compensation
The estimated salary range for this role is $85,000-$110,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.
#LI-ONSITE
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.

What Wintrust employees say

Pay

Benefits

Hours and flexibility

Workplace

Get the full story on Breakroom

Apply