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Director Model Risk Governance Jobs in Hackensack, NJ

DTCC

Model Validation Senior Associate

Jersey City, NJ · On-site

Prepare model validation and review presentations to the Model Risk Governance Council (MRGC) meetings for model approval, model issue tracking, and resolution. * Present model validation, review ...

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Director Model Risk Governance information

See Hackensack, NJ salary details

$58.9K

$156.2K

$283.6K

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

As of May 28, 2026, the average yearly pay for director model risk governance in Hackensack, NJ is $156,164.00, according to ZipRecruiter salary data. Most workers in this role earn between $115,100.00 and $182,700.00 per year, depending on experience, location, and employer.

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 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 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 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 job categories do people searching Director Model Risk Governance jobs in Hackensack, NJ look for? The top searched job categories for Director Model Risk Governance jobs in Hackensack, NJ are:
What cities near Hackensack, NJ are hiring for Director Model Risk Governance jobs? Cities near Hackensack, NJ with the most Director Model Risk Governance job openings:
Director Model Risk Governance jobs near you
Model Risk Analyst

Model Risk Analyst

NEW YORK POWER AUTHORITY

White Plains, NY • On-site

$74K - $102.30K/yr

Full-time

Posted 13 days ago

Job description

Summary
Perform quantitative and qualitative analysis on models and assessments of their risks, coordinate with the business units to conduct testing of critical models and document results. Manage the model inventory in the company's governance solution, ensure timely updates of forms and questionnaires, maintain ongoing contact with model owners and reviewers, and oversee adherence to model and other risk policies and procedures. Supports the development of tools and techniques to facilitate ongoing model enhancement for the organization. #LI-CJ1
Responsibilities
  • Perform quantitative and qualitative analysis on model risk and other types of risk inventories to identify underlying relationships and assist in the risk roll-up/alignment process
  • Work with the Enterprise and/or Operational Risk team, NYPA management, and staff to facilitate the Model Risk Management and broader risk management process for risk identification, definition, assessment, analysis, mitigation, and monitoring throughout NYPA
  • Generate risk reports for various levels of the organization including the Executive Risk Management and Resilience Committee (ERRMC)
  • Work with Enterprise and Operational Risk leadership to ensure effective alignment of the enterprise and operational processes with Internal Audit, Internal Business Controls, and Compliance
  • Assist Enterprise and Operational Risk Management team (EORM) in the development of training materials and assist in conducting enterprise and/or operational education/training to various levels of NYPA Business Units management and staff
  • Update, maintain and ensure compliance with NYPA's model and other risk frameworks, policies, procedures, and other associated risk management documentation
  • Provide support on the implementation and on-going operation of the Governance, Risk, and Compliance (GRC) software module specific to the model risk programs
  • Coordinate the resolution of risk software problems with the vendor or the NYPA IT department as needed Perform regular updates to the model risk and other risk repositories and perform risk assessments using reporting tools to ensure integrity of the repository database
  • Create and maintain up-to-date meeting minutes, reports and related materials for the Enterprise and Operational Risk website
  • Work with senior EORM Team members to establish and implement the Enterprise and/or Operational Risk task level schedule to ensure timely delivery of assigned work products

Knowledge, Skills and Abilities
  • Working knowledge of various types of risk including Model, Operational, Asset, Project and Enterprise level risks
  • General knowledge of Enterprise-wide risk management program development and implementation; including best practices, frameworks, and associated software systems
  • General knowledge of Internal Audit and Internal Business Controls practices
  • General understanding of the fundamentals of probabilistic scenario analysis and analysis techniques the associated application to risk management
  • Proficient in spreadsheet and/or statistical analysis packages. Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.
  • Understanding of enterprise risk management best practices as they apply to the energy/utility industry
  • Ability to prepare and deliver clear and concise summaries and insights with assistance from senior specialists and director

Education, Experience and Certifications
  • Bachelor's degree in Business Administration, Finance, Accounting, or Economics
  • A minimum of 2 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is preferred

Physical Requirements
The New York Power Authority is committed to providing fair, competitive, and market-informed compensation. The estimated salary range for this position is: $74,000-$102,300. The salary offered will be determined based on the successful candidates' relevant experience, knowledge, skills, and abilities.
The New York Power Authority and Canal Corporation believes that diversity, equity, and inclusion drive our success, and we encourage women, people of color, LGBTQIA+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents and veterans to apply. As an equal opportunity employer, NYPA/Canals is committed to building inclusive, innovative work environments with employees who reflect communities across New York and enthusiastically serve them. We proudly celebrate diversity and do not discriminate based on race/color, creed/religion, national origin, citizenship or immigration status, age, disability, military status, gender/sex, sexual orientation, gender identity/expression, pregnancy and related conditions, familial/marital status, domestic violence victim status, predisposing genetic characteristics, arrest/criminal conviction record or any other category protected by law.
NYPA/Canals will also provide reasonable accommodations during the hiring process related to candidates' disabilities, pregnancy-related conditions, religious observances/practices and/or domestic violence concerns. To request an accommodation, please email accessibility@nypa.gov.

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