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Entry Level Model Risk Governance Jobs (NOW HIRING)

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Review documentation of model governance; Review testing results in the model methodology document ... Manage and update model risk policies, standards, and procedures continually to ensure compliance ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Review documentation of model governance; Review testing results in the model methodology document ... Manage and update model risk policies, standards, and procedures continually to ensure compliance ...

CLS Bank International

Model Validator

Manhattan, NY · On-site

... risk matters. • Collaborate with the Model Governance to ensure model governance and standards are appropriate for the firm's risk profile and ensure enterprise-wide adherence. Leadership • ...

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Entry Level Model Risk Governance information

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How much do entry level model risk governance jobs pay per hour?

As of Jul 9, 2026, the average hourly pay for entry level model risk governance in the United States is $45.71, according to ZipRecruiter salary data. Most workers in this role earn between $14.90 and $72.12 per hour, depending on experience, location, and employer.

What jobs can I do with a risk management degree?

With a risk management degree, you can pursue roles such as entry-level model risk governance analyst, risk analyst, compliance analyst, or credit risk analyst. These positions involve assessing and managing financial, operational, or model risks, often requiring skills in data analysis, regulatory knowledge, and familiarity with risk management tools and frameworks.

Is risk modelling a good career?

Risk modelling is a valuable career in finance and banking, focusing on assessing and managing financial risks using statistical and analytical skills. Entry-level roles often require knowledge of data analysis tools and regulatory frameworks, offering opportunities for growth into senior risk management positions.

What is model risk governance?

Model risk governance involves establishing policies, procedures, and oversight to manage risks associated with financial or operational models. For entry-level model risk governance roles, understanding model validation, risk assessment, and regulatory requirements is essential to ensure models are accurate and reliable within an organization.

How to become a risk analyst with no experience?

To become an entry-level model risk governance analyst with no experience, focus on developing strong analytical skills, understanding financial and risk management concepts, and gaining familiarity with tools like Excel or risk modeling software. Pursuing relevant certifications such as FRM or CFA can also enhance your qualifications and demonstrate your commitment to the field.
What cities are hiring for Entry Level Model Risk Governance jobs? Cities with the most Entry Level Model Risk Governance job openings:
What are the most commonly searched types of Model Risk Governance jobs? The most popular types of Model Risk Governance jobs are:
Entry Level Model Risk Governance jobs near you
Model Risk Analyst

Model Risk Analyst

Federal Home Loan Bank of Chicago

Chicago, IL • Hybrid

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 2 days ago

Job description

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.

  • Collaborative, in-office operating model

  • Retirement program (401k and Pension)

  • Medical, dental and vision insurance

  • Lifestyle Spending Account

  • Competitive PTO plan

  • 11 paid holidays per year

      Who we are

      Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

      Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

      What it's like to work here

      At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided with an allocation of remote days to use as needed throughout the year.

      What you'll do

      The Model Risk Analyst (Analyst) within the Model Risk Management Group (MRM) is responsible for various tasks supporting model validation and risk governance. The tasks are both technical (e.g., related to data analytics and quantitative modeling) and administrative (e.g., documentation requirements). By completing these tasks, the analyst will enhance both his/her technical skills and understanding of how financial models are used within the bank.

      How you'll make an impact

      • Drive Innovation: Lead the charge in enhancing credit and financial models by challenging current methods and proposing innovative enhancements to improve model effectiveness.

      • Collaborate and Influence: Work closely with model owners and stakeholders, presenting testing results and providing constructive recommendations to strengthen our risk management practices.

      • Automate and Optimize: Recommend new ways to automate and improve the modeling process, ensuring efficiency and accuracy in our financial risk assessments.

      What you can expect

      • Explain and present testing results to MRM, model owners and other stakeholders;

      • Work effectively with other risk analysts within MRM and perform ad-hoc analysis to support model-related initiatives;

      • Review model data sources, assumptions, and underlying theory for conceptual soundness;

      • Perform sensitivity analysis and attribution analysis to determine the key financial risk factor(s)/input(s) impacting the Model;

      • Challenge current methods by considering additional modeling enhancements or different metrics to assess model effectiveness;

      • Perform independent benchmarking, back testing and other analysis for applicable models;

      • Recommend new ways to automate/improve the modeling process;

      • Effectively challenge the model owners by identifying potential model weakness and provide constructive recommendations.

      What you'll bring

      • Graduate Degree (MS/MA/MBA) in a quantitative discipline (e.g., Mathematics, Statistics, Financial Mathematics, Econometrics);

      • 0-3 years of modeling or model validation working experience;

      • Passionate about risk management and interested in model validation;

      • Detail-oriented, a critical thinker and possess excellent communication skills;

      • Proficient in Microsoft Office suite (Excel, Word, Access, PowerPoints)

      • Knowledge in Statistics (logistic regression) and basic data analysis plus knowledge of SQL/R/Python

      • Basic understanding in fixed income securities or mortgage products (CFA/FRM certifications a plus).

      • Knowledge of stochastic processes or interest-rate model techniques preferred;

      • Experience using machine learning techniques utilizing regression and classification algorithms preferred;

      • Familiar with Tableau and level of detail (LOD) preferred

      The Perks

      At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.

      Salary Range:

      $75,325.00 - $125,500.00

      The above represents the expected salary range for this job requisition. Ultimately, in determining your pay, we may also consider your experience, and other job-related factors. In addition to the base salary, we offer a comprehensive benefits package which can be found here: https://hrportal.ehr.com/fhlbc

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