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Director Model Risk Governance Jobs in Chicago, IL

CNA

AI Governance Consulting Director

Chicago, IL · On-site

The Consulting Director, AI Governance partners closely with Technology, Security, Legal ... Consults on methodologies for AI risk monitoring, control effectiveness measurement, model ...

CNA

AI Governance Consulting Director

Chicago, IL · On-site

$97 - $189/hr

The Consulting Director, AI Governance partners closely with Technology, Security, Legal ... Consults on methodologies for AI risk monitoring, control effectiveness measurement, model ...

New

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

$56.50 - $73.25/hr

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

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

$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.

ElectronX

Head of Risk

Chicago, IL · On-site

$150 - $250/hr

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

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

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All JobsModel Risk Governance JobsDirector Model Risk Governance JobsDirector Model Risk Governance Jobs in Chicago, IL

Director Model Risk Governance information

See Chicago, IL salary details

$55.6K

$147.5K

$267.8K

How much do director model risk governance jobs pay per year?

As of Aug 23, 2026, the average yearly pay for director model risk governance in Chicago, IL is $147,501.00, according to ZipRecruiter salary data. Most workers in this role earn between $108,700.00 and $172,500.00 per year, depending on experience, location, and employer.

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 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 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 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 most commonly searched types of Model Risk Governance jobs in Chicago, IL?

The most popular types of Model Risk Governance jobs in Chicago, IL are:

What are popular job titles related to Director Model Risk Governance jobs in Chicago, IL?

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

What job categories do people searching Director Model Risk Governance jobs in Chicago, IL look for?

The top searched job categories for Director Model Risk Governance jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Director Model Risk Governance jobs?

Cities near Chicago, IL with the most Director Model Risk Governance job openings:

Director Model Risk Governance jobs near you

2027 Quantitative Research - Risk and Treasury - Summer Internship - Associate - United States

J.P. Morgan

Chicago, IL

Full-time, Temporary, Internship

Posted 18 days ago

Job description

hackajob is collaborating with J.P. Morgan to connect them with exceptional professionals for this role.

JOB DESCRIPTION

At JPMorganChase, we champion your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you are passionate, curious and ready to make an impact, we are looking for you.

Job Summary

As a Quantitative Research - Risk and Treasury Summer Associate in the Quantitative Modeling Program, you will work alongside top-tier professionals in a dynamic environment. You'll apply academic knowledge to real-world financial challenges, gain hands-on experience, and build a valuable network. This program sets a solid foundation for your career, with potential full-time offers upon successful completion.

Job Responsibilities

  • Analyze data to identify patterns and trends.
  • Conduct back testing and assess strategies.

  • Maintain and improve software systems and tools for risk and treasury operations.

  • Assess models for conceptual soundness, risks, and enhancements.
  • Propose creative solutions to complex challenges.
  • Collaborate with internal teams to advance risk and treasury services.
  • Focus on model development and review of conceptual design.
  • Develop, validate, and enhance mathematical models and algorithms.
  • Optimize financial solutions across asset classes and instruments.

Required Qualifications, Capabilities, and Skills

  • Enrolled in a Master's, or PhD program in mathematics, statistics, physics, engineering, computer science, economics, or data science/machine learning, graduating between December 2027 and July 2028 in the U.S.

  • Proficiency in Python, and/or C++ programming.

  • Strong modeling, analytical, quantitative, and problem-solving skills.
  • Excellent communication skills for presenting complex concepts.
  • Interest in banking analytics, global markets, and quantitative research.
  • Ability to thrive in a fast-paced, collaborative environment.

Preferred qualifications, capabilities and skills

  • Preferred to have candidates who enrolled in a 2 years Master's or PhD program.

  • Experience with R, MATLAB, or SQL.

  • Understanding of banking products, financial instruments, and market dynamics.
  • Strong organizational skills for managing multiple projects.
  • Ability to articulate complex quantitative concepts to diverse audiences.
  • Familiarity with AI tools used in research and programming. 

Locations

  • New York Metro
  • Plano, TX
  • Chicago, IL

Teams Available

Risk - Model Risk Governance Review Team

Team Role:

The Model Risk Governance and Review (MRGR) group is responsible for conducting model validation to help identify, measure, and mitigate Model Risk. The objective is to ensure that models are used appropriately in the business context and that model users are aware of the models' strengths and limitations and how these can impact their decisions.

Team Task: 

Evaluate conceptual reasonableness of assumptions, reliability of inputs and the estimation methodology, completeness of testing, and correctness of implementation associated with development and use of the model. Draft validation reports. Interact with model developers.

Risk - Wholesale Credit Team

Team Role:

Work as a quantitative researcher/engineer in the Wholesale Credit team, contributing to innovative credit risk solutions. Collaborate with experts to design and implement financial engineering models for wholesale credit portfolios. Apply advanced quantitative techniques to analyze credit exposures and forecast performance under various scenarios. Support the development of new methodologies to address emerging risks in wholesale lending.

Team Task: 

Develop statistical, AI/ML, and platform engineering solutions for grading, forecasting, and risk management activities. Build robust models to assess borrower creditworthiness and predict potential defaults. Enhance risk management frameworks by integrating data-driven insights and automation. Partner with business stakeholders to deliver actionable analytics that inform strategic credit decisions.

Treasury - Quantitative Balance Sheet Strategy Team

Team Role:

Quantitative Balance Sheet Strategy (QBSS) delivers quantitative analytics to support JPMorganChase's Global Corporate Treasury in Asset & Liability Management and balance sheet strategy. Key functions include ALM, research, capital and liquidity strategy, quantitative modelling and analytics across all lines of business. QBSS supports initiatives such as firm-wide balance sheet optimization, interest rate risk modeling, internal transfer pricing, capital allocation, and industry-leading research on financial flows.

Team Task: 

In QBSS we provide our interns with broad exposure to business activities under the Corporate Treasury umbrella. A typical summer internship includes one or two major projects as well as multiple ad-hoc exercises. Past projects have spanned interest rate risk forecasting, liquidity position modeling, capital buyback optimization, risk-adjusted performance measurement of investment portfolio allocation, balance sheet optimization via dimensionality reduction, analysis of industry-wide deposit flow dynamics, and market share evolution in major lending markets.

About You
We are looking for innovative problem-solvers with a passion for developing complex solutions that support our global business. 

Beyond that, what we're most interested in are the things that make you unique: the personal qualities, outside interests and achievements beyond academia that demonstrate the kind of person you are and the difference you could bring to the team.

About Us

At JPMorganChase, we're creating positive change for the diverse communities we serve. We do this by championing your innovative ideas through a supportive culture that helps you every step of the way as you build your career. If you are passionate, curious and ready to make an impact, we are looking for you.

What's Next?

Help us learn about you by submitting a complete and thoughtful application, which includes your resume. Your application and resume are way for us to initially get to know you, so it's important to complete all application questions so we have as much information about you as possible. To start the application, you will be prompted to enter your email address. Your email address will be used to create and maintain your profile so make sure it is one you will have long term access to. Do not use an email address with ".edu" extension as doing so could result in delays receiving updates regarding your candidacy.

After you confirm your application, we will review it to determine whether you meet required qualifications. If you are advanced to the next step of the process, you'll receive an email invitation progress to the Technical Screen Interview. 

JPMorganChase is committed to creating an inclusive work environment that respects all people for their unique skills, backgrounds and professional experiences. We strive to hire qualified, diverse candidates, and we will provide reasonable accommodations for known disabilities.

Visit jpmorganchase.com/careers for upcoming events, career advice, our locations and more.

©2025 JPMorganChase is an equal opportunity and affirmative action employer Disability/Veteran.

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