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Director Model Risk Governance Jobs in Ridgewood, NJ

Bank of Montreal

Director, Model Validation

New York, NY · On-site

$150K - $261K/yr

Familiarity with regulatory frameworks (e.g., FRTB, model risk governance) in a derivatives context. Salary : $150,700.00 - $261,800.00 Pay Type: Salaried The above represents BMO Financial Group ...

Gemini

Manager, Enterprise Risk

New York, NY · On-site

Model Risk Management * Serve as a key stakeholder and subject matter expert in the firm's model risk governance program * Partner with Quantitative Research, Data Science, and Finance teams to ...

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All JobsDirector Model Risk Governance JobsDirector Model Risk Governance Jobs in Ridgewood, NJ

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

Credit Risk Management Department - Risk Analytics Model Intern

Bank of China Limited, New York Branch

Manhattan, NY • On-site

$18/hr

Other

Posted 27 days ago

Job description

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

The intern will assist senior members in the model team to conduct all business as usual activities. She/he will help collect business/development data, run credit risk ratings/CECL/Stress Test, aggregate model output, conduct data analysis, and also help document models for model risk management purpose (internal model review and audit). She/he will participate in model lifecycle and provide assistance for any finding/regulatory issue (e.g. MRA) remediation.

Responsibilities

Credit Risk Rating

  • Coordinate the requests from FLUs and CRM CA teams, be familiar with the model setup and requirements, and generate the rating reports as required. 

Stress Test

  • Run the quarterly stress tests, aggregate the results, perform in-depth analysis, and prepare the reports. 

Model Risk Governance

  • Update the model docs for ERM reviews, assist the finding remediation, track the finding/issue status. 

Admin duties

  • Help the team lead on various team admin work such as invoice processing, meeting organization and minutes, meeting deck preparation, etc. 
Qualifications
  • Bachelor's degree in Math, Statistics, Physics, Computer Science, Financial Engineering, etc. is required.
  • Be familiar with the programming languages such as VBA and Python.
Pay Range

Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.

USD $18.00 - USD $18.00 /Hr.Employment Type: INTERN

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