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Director Model Risk Governance Jobs in Ridgewood, NJ

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Director Model Risk Governance information

See Ridgewood, NJ salary details

$54.6K

$144.9K

$263.1K

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

As of Jun 20, 2026, the average yearly pay for director model risk governance in Ridgewood, NJ is $144,872.00, according to ZipRecruiter salary data. Most workers in this role earn between $106,700.00 and $169,500.00 per year, depending on experience, location, and employer.

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

Senior Consultant - Model Risk Management

Arrayo

Manhattan, NY • On-site

Other

Posted 9 days ago

Job description

Senior Consultant – Model Risk Governance



Arrayo is seeking an experienced Model Risk Governance Consultant to join our Financial Services consulting team. As a Consultant, you will work with leading banking and capital markets institutions on strategic Model Risk Management (MRM) initiatives, helping clients strengthen governance frameworks, enhance controls, improve operating models, and address evolving regulatory and business requirements


.
You will collaborate with stakeholders across Risk Management, Model Risk Management, Front Office, Finance, Compliance, Internal Audit, and Technology functions to design and implement sustainable model governance processes and controls. This role is focused on model risk governance, framework enhancement, operating model design, and program execution rather than quantitative model development or validatio


n.
The ideal candidate will have experience working within Model Risk Management organizations or supporting large-scale MRM transformation, governance, remediation, or regulatory initiatives within financial institutio


ns.
Responsibili

  • tiesSupport clients in the design, enhancement, and implementation of Model Risk Management governance frameworks and operating mod
  • els.Assess model governance processes and identify opportunities to strengthen controls, improve efficiency, and enhance transparency across the model lifecy
  • cle.Develop and maintain model risk policies, standards, procedures, governance documentation, and supporting control framewo
  • rks.Support model inventory management processes, including model classification, tiering, ownership, governance workflows, and lifecycle managem
  • ent.Coordinate activities across Model Owners, Model Developers, Model Validators, Risk Management, Internal Audit, Compliance, and Technology te
  • ams.Facilitate governance forums, working groups, and stakeholder meetings, including preparation of materials, action tracking, and management report
  • ing.Support remediation initiatives related to model risk governance, controls, documentation, and process effectiven
  • ess.Develop management reporting, metrics, key risk indicators, and governance dashboards to support model risk oversi
  • ght.Document business processes, governance workflows, target operating models, and control procedu
  • res.Perform assessments of model governance practices and support the implementation of process improvements and control enhanceme
  • nts.Partner with business and technology stakeholders to improve model governance tooling, workflow management, and reporting capabilit
  • ies.Contribute to project planning, stakeholder management, issue tracking, and overall delivery of client engageme


nts.
Require

  • mentsBachelor's or Master's degree in Finance, Economics, Mathematics, Engineering, Business Administration, Risk Management, or a related discip
  • line.10+ years of experience in Financial Services, with significant experience in Model Risk Management, Risk Governance, Enterprise Risk Management, Regulatory Change, or related control funct
  • ions.Strong understanding of Model Risk Management principles, governance frameworks, and model lifecycle proce
  • sses.Experience developing policies, standards, procedures, governance documentation, and control framew
  • orks.Experience supporting model inventory management, governance processes, and model lifecycle overs
  • ight.Strong stakeholder management and communication skills, with the ability to work effectively across business, risk, audit, compliance, and technology funct
  • ions.Excellent written communication skills, including experience producing governance documentation, management reporting, and executive presentat
  • ions.Strong analytical and problem-solving skills with the ability to identify process improvements and drive execu
  • tion.Experience working on large-scale risk, governance, regulatory, or transformation initiatives within financial institut
  • ions.Experience with model inventory, workflow, governance, or risk management platforms is considered an a


sset.

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