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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 Aug 7, 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 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 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
Infographic showing various Director Model Risk Governance job openings in Ridgewood, NJ as of August 2026, with employment types broken down into 95% Full Time, and 5% Part Time. Highlights an 84% In-person, 5% Hybrid, and 11% Remote job distribution, with an average salary of $144,872 per year, or $69.7 per hour.

Director - Model Risk Management AI, Wealth and Investment

BNY Mellon

Manhattan, NY • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 10 days ago

BNY Mellon rating

7.6

Company rating: 7.6 out of 10

Based on 51 frontline employees who took The Breakroom Quiz

113th of 150 rated financial services

Job description


The Model Risk Management Director is a senior leader within the Risk & Regulatory Compliance function, accountable for independent oversight of model risk across the firm. Operating within the Model Risk Management job family, this role applies advanced, multidisciplinary expertise in financial markets, applied mathematics, statistics, econometrics and computer science to identify, assess and challenge situations where models underlying critical business operations may fail, exposing BNY to monetary loss, regulatory censure, reputational damage or systemic risk.
We're seeking a future team member for the role of Director - Model Risk Management AI, Wealth and Investment to join our Model Risk team. This role is located in New York City, New York.
In this role, you'll make an impact in the following ways:
  • Lead the Model Risk Management framework for a defined portfolio of models (e.g., pricing, risk, capital, stress testing, AI/ML, and valuation models) by setting clear standards for model risk identification, assessment, validation and governance, and by ensuring consistent application across businesses and legal entities.
  • Oversee and review independent model validations and ongoing performance monitoring by demonstrating deep quantitative expertise, providing effective challenge to model design, data, assumptions and implementation, and ensuring that model risk is appropriately quantified, documented and mitigated.
  • Establish and chair or actively contribute to model risk governance forums by defining decision-making processes, setting model approval thresholds and ensuring that model risk topics are escalated, debated and resolved in line with internal policies and regulatory expectations.
  • Advise senior business, risk and Engineering stakeholders on model risk issues and emerging quantitative methodologies by translating complex analytical concepts into clear risk insights and recommendations that support sound business decisions and responsible innovation.
  • Drive continuous enhancement of the firm's model risk policies, standards, tools and methodologies by monitoring external regulatory developments, industry good practice and advances in quantitative methods, and by embedding these into practical, risk-sensitive processes.
  • Manage, develop and coach a team of model risk professionals by setting clear objectives, providing technical and behavioral guidance, promoting a culture of rigorous challenge and collaboration, and ensuring appropriate capacity and capabilities to meet current and emerging model risk demands.
  • This role will be focused on GenAI and Wealth Models.

To be successful in this role, we're seeking the following:
  • Advanced degree (Master's or PhD preferred) in a quantitative field such as mathematics, statistics, econometrics, physics, engineering, quantitative finance or computer science, or equivalent experience.
  • Professional certifications in risk, quantitative finance or related areas (e.g., FRM, PRM, CQF) are advantageous.
  • Strong knowledge of financial markets, products and risk management practices, including experience with complex mathematical/statistical modeling techniques.
  • Typically, 12-15 years of experience
  • Advanced quantitative and analytical skills, including deep knowledge of model development, validation and performance measurement techniques, and the ability to provide credible effective challenge.
  • Strong leadership, communication and stakeholder management skills, with the ability to influence senior leaders, shape governance decisions and translate complex quantitative issues into clear risk insights.
  • Proven people management capabilities, including building and leading high-performing quantitative teams, coaching technical staff and fostering a culture of integrity, accountability and continuous improvement in risk management.

About Us
At BNY, our culture allows us to run our company better and enables employees' growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world's investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.
Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance - and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.
About the Team
At BNY, our culture speaks for itself, check out the latest BNY news at BNY Newsroom & BNY LinkedIn
Here's a few of our recent awards:
  • America's Most Innovative Companies, Fortune, 2025
  • World's Most Admired Companies, Fortune 2025
  • "Most Just Companies", Just Capital and CNBC, 2025

Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
BNY assesses market data to ensure a competitive compensation package for our employees. The expected base salary for this position when employment commences can be found in the Job Info section at the bottom of the posting.
Base salary offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. Base salary is only part of the total rewards package, which may include eligibility for an annual discretionary incentive award. Subject to the terms and conditions of the applicable plans then in effect, eligible employees may enroll in a 401(k) plan as well as participate in Company-sponsored medical, dental, vision, and basic life insurance plans for the employee and the employee's eligible dependents. Eligible employees also may receive other benefits (including various paid time off benefits, such as vacation and sick time), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
If hired, the employee will be in an "at will" position and the Company reserves the right to modify base salary (as well as any other discretionary payments or compensation programs) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

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About BNY Mellon

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BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2021, BNY Mellon had $46.7 trillion in assets under custody and/or administration, and $2.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com . Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

New York, NY, US

Year founded

1784

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