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Director Model Risk Governance Jobs in Illinois (NOW HIRING)

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

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

Brookfield

Risk Analyst

Chicago, IL · On-site

Support governance activities, including preparation of materials and documentation for risk ... Exposure to SOX, Model Risk Management (SR 11-7), AI Risk Management (NIST AI RMF), or IT GRC ...

PayPal

Sr Machine Learning Engineer

Chicago, IL

$57.50 - $76/hr

The position also supports AI and model risk governance to ensure compliance with PayPal's enterprise risk framework and evolving regulatory standards. Essential Responsibilities: * Develop and ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL

$137K - $233K/yr

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

PayPal, Inc.

Sr Machine Learning Engineer

Chicago, IL · On-site

$57.50 - $76/hr

The position also supports AI and model risk governance to ensure compliance with PayPal's enterprise risk framework and evolving regulatory standards. Essential Responsibilities: * Develop and ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

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

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All 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 of Model Risk Governance, and why are they important?

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 are Director Model Risk Governance roles?

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 of 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 June 2026, with employment types broken down into 33% Full Time, and 67% Part Time. Highlights an 67% In-person, and 33% Remote job distribution.
Technology Risk Advisory - AI Risk Senior Associate

Technology Risk Advisory - AI Risk Senior Associate

RSM

Chicago, IL • On-site

Full-time

Posted 26 days ago

Job description

We are the leading provider of professional services to the middle market globally, our purpose is to instill confidence in a world of change, empowering our clients and people to realize their full potential. Our exceptional people are the key to our unrivaled, culture and talent experience and our ability to be compelling to our clients. You'll find an environment that inspires and empowers you to thrive both personally and professionally. There's no one like you and that's why there's nowhere like RSM.

Role Overview

The Technology Risk Advisory - AI Risk Senior Associate will play a key role in helping clients strengthen their technology, AI, and cybersecurity risk capabilities. You'll support the design, assessment, and governance of AI and GenAI systems, evaluate cloud and data controls, and contribute to emerging risk frameworks that keep pace with rapid innovation.

This role blends handson technical exposure with structured risk thinking-ideal for someone who can navigate both model development concepts and regulatory expectations.

Key Responsibilities

  • AI/ML Risk Assessments - Support and execute risk and compliance assessments for AI/ML and GenAI systems, including model lifecycle controls, data governance, and responsible AI considerations.
  • Technology & Cloud Compliance - Evaluate IT, cloud, and data environment controls (IAM, encryption, logging, monitoring, network segmentation).
  • Model Governance Support - Contribute to model documentation, testing artifacts, lineage tracking, and change management for AI systems.
  • Emerging Technology Risk - Support assessments related to GenAI, automation, cloud-native architectures, and digital transformation initiatives.
  • Software & Data Engineering Fundamentals - Apply understanding of APIs, data pipelines, testing, and version control to evaluate technical risk.
  • CrossFunctional Collaboration - Work with engineering, data science, cybersecurity, model risk, and audit teams across the 1st and 2nd lines of defense.
  • Client Delivery - Support workplans, manage assigned tasks, gather requirements, and contribute to highquality client deliverables.
  • Risk Translation - Translate technical design elements (data flows, model behavior, system architecture) into clear risk considerations.
  • Communication & Reporting - Prepare documentation, assessment outputs, and stakeholderready reporting that simplifies complex AI and technology concepts.

Required Experience & Qualifications

  • Bachelor's or Master's degree in Computer Science, Engineering, Data Science, Information Systems, Risk, or related field.
  • 2-5 years supporting delivery of technology solutions, with exposure to AI/ML or GenAI and experience in risk, compliance, audit, or regulated environments.
  • Working knowledge of modern ML/GenAI stacks (Python, model development frameworks, embeddings, RAG concepts).
  • Handson contribution to model development, evaluation, or implementation.
  • Experience assessing or implementing AI systems on cloud platforms (IAM, encryption, data governance, environment controls).
  • Solid understanding of software engineering fundamentals: APIs, data pipelines, testing, version control, CI/CD exposure.
  • Ability to translate technical design into risk and control implications with guidance.
  • Experience supporting AI governance and model risk documentation.
  • Strong analytical and problemsolving skills with the ability to structure ambiguous problems.
  • Consulting fundamentals: requirement gathering, task management, coordination across teams.
  • Effective communicator able to translate technical concepts into clear business and risk language.

Preferred Qualifications

  • Certifications such as AAIA, AAISM, AIGP, CISA, CISSP, CCSP, CRISC, or AIfocused credentials.
  • Experience with AI risk frameworks, responsible AI principles, or cloud compliance programs.

At RSM, we offer a competitive benefits and compensation package for all our people.We offer flexibility in your schedule, empowering you to balance life's demands, while also maintaining your ability to serve clients.Learn more about our total rewards at https://rsmus.com/careers/working-at-rsm/benefits.

All applicants will receive consideration for employment as RSM does not tolerate discrimination and/or harassment based on race; color; creed; sincerely held religious beliefs, practices or observances; sex (including pregnancy or disabilities related to nursing); gender; sexual orientation; HIV Status; national origin; ancestry; familial or marital status; age; physical or mental disability; citizenship; political affiliation; medical condition (including family and medical leave); domestic violence victim status; past, current or prospective service in the US uniformed service; US Military/Veteran status; pre-disposing genetic characteristics or any other characteristic protected under applicable federal, state or local law.

Accommodation for applicants with disabilities is available upon request in connection with the recruitment process and/or employment/partnership.RSM is committed to providing equal opportunity and reasonable accommodation for people with disabilities. If you require a reasonable accommodation to complete an application, interview, or otherwise participate in the recruiting process, please call us at 800-274-3978 or send us an email at careers@rsmus.com.

RSM does not intend to hire entry level candidates who will require sponsorship now OR in the future (i.e. F-1 visa holders). If you are a recent U.S. college / university graduate possessing 1-2 years of progressive and relevant work experience in a same or similar role to the one for which you are applying, excluding internships, you may be eligible for hire as an experienced associate.

RSM will consider for employment qualified applicants with arrest or conviction records. For those living in California or applying to a position in California, please click here for additional information.

At RSM, an employee's pay at any point in their career is intended to reflect their experiences, performance, and skills for their current role. The salary range (or starting rate for interns and associates) for this role represents numerous factors considered in the hiring decisions including, but not limited to, education, skills, work experience, certifications, location, etc. As such, pay for the successful candidate(s) could fall anywhere within the stated range.

Compensation Range: $77,700 - $146,900

Individualsselected for this role will be eligible for a discretionary bonus based on firm and individual performance.

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