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Financial Risk Manager Jobs in Virginia (NOW HIRING)

Freddie Mac

Model Risk Senior Lead

Mclean, VA · On-site

You'll partner closely across Enterprise Risk including Financial Risk and Non-Financial Risk areas, and the business divisions to manage model risk. The position offers high visibility, meaningful ...

Capital One Group

Senior Risk Manager

Richmond, VA · On-site

Senior Risk Manager At Capital One, we dare to dream, disrupt, and deliver a better way. We bring ... Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other ...

Capital One

Senior Risk Manager

Mclean, VA · On-site

Senior Risk Manager At Capital One, we dare to dream, disrupt, and deliver a better way. We bring ... Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other ...

Capital One

Senior Risk Manager

Richmond, VA · On-site

Senior Risk Manager At Capital One, we dare to dream, disrupt, and deliver a better way. We bring ... Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other ...

CGI Inc.

Risk Manager, Senior

Arlington, VA · On-site

Leadership and Management Roles Main location: United States, Virginia, Arlington Position ID:J0925 ... Conduct in-depth risk evaluations to identify potential financial, operational, compliance, safety ...

Capital One

Senior Risk Manager

Richmond, VA · On-site

Senior Risk Manager At Capital One, we dare to dream, disrupt, and deliver a better way. We bring ... Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other ...

Sallie_mae

Manager, Model Risk

Sterling, VA · On-site

Our benefits take care of the whole you-from physical and mental to financial and professional. You ... Position Summary The Manager, Model Risk is a senior individual contributor responsible for ...

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Financial Risk Manager information

See Virginia salary details

$51.1K

$110.6K

$168.5K

How much do financial risk manager jobs pay per year?

As of Sep 11, 2026, the average yearly pay for financial risk manager in Virginia is $110,599.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,200.00 and $127,900.00 per year, depending on experience, location, and employer.

What does a financial risk manager do?

A Financial Risk Manager (FRM) is responsible for identifying, analyzing, and mitigating financial risks within an organization. Their work involves assessing threats related to credit, market, operational, and liquidity risk, and developing strategies to minimize potential losses. FRMs use quantitative analysis, financial modeling, and risk assessment tools to advise decision-makers on risk exposures. They play a vital role in ensuring that a company remains compliant with financial regulations and maintains financial stability.

What are the key skills and qualifications needed to thrive as a financial risk manager?

To thrive as a Financial Risk Manager, you need a strong background in finance, quantitative analysis, and risk assessment, typically supported by a relevant degree and certifications like FRM or CFA. Expertise in risk modeling software, statistical tools such as SAS or R, and financial reporting systems is highly valued. Exceptional analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These skills and qualities are crucial for accurately identifying, assessing, and mitigating financial risks to protect organizational assets and ensure regulatory compliance.

What are some common challenges financial risk managers face when working with cross-functional teams?

Financial Risk Managers often collaborate with departments such as treasury, compliance, and IT to identify and mitigate risks. One common challenge is aligning risk management strategies with diverse departmental goals, which may sometimes conflict with each other. Effective communication and negotiation skills are essential to ensure all stakeholders understand the risk implications of their decisions. Additionally, adapting to rapidly changing regulations and market conditions can create pressure to quickly update risk models and processes.

What is the difference between Financial Risk Manager vs Credit Analyst?

AspectFinancial Risk ManagerCredit Analyst
CertificationsFRM, CFAFitch, CFA
Work EnvironmentFinancial institutions, banks, investment firmsBanks, lending institutions, credit agencies
Primary FocusAssessing and managing overall financial risksEvaluating creditworthiness of borrowers
Industry UsageRisk management departments, trading floorsLoan departments, credit risk units

While both roles involve financial analysis, a Financial Risk Manager focuses on identifying and mitigating broad financial risks across an organization, often requiring advanced certifications like FRM or CFA. A Credit Analyst specializes in assessing individual borrowers' creditworthiness to inform lending decisions. Both roles are vital in financial institutions but serve different strategic purposes.

Do financial risk managers make good money?

Financial risk managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, median annual pay often exceeds $100,000, with senior roles and certifications like FRM or CFA increasing earning potential. They also benefit from bonuses and other incentives based on performance and risk management success.

Is it hard to become a financial risk manager?

Becoming a financial risk manager typically requires a strong background in finance, economics, or related fields, along with relevant certifications such as the FRM or CFA. The role involves developing analytical skills, understanding financial models, and often gaining experience in risk analysis or financial analysis, which can take several years of education and work experience to achieve.

Is risk management in finance a good career?

A career as a financial risk manager involves analyzing and mitigating financial risks for organizations, often requiring strong analytical skills, knowledge of financial instruments, and certifications like FRM or CFA. It offers opportunities in banking, investment firms, and corporations, with a focus on quantitative analysis and regulatory compliance. The role can be rewarding for those interested in finance and risk assessment, with a stable job outlook and competitive salary potential.

What are popular job titles related to Financial Risk Manager jobs in Virginia?

For Financial Risk Manager jobs in Virginia, the most frequently searched job titles are:

What job categories do people searching Financial Risk Manager jobs in Virginia look for?

The top searched job categories for Financial Risk Manager jobs in Virginia are:

What cities in Virginia are hiring for Financial Risk Manager jobs?

Cities in Virginia with the most Financial Risk Manager job openings:

Financial Risk Manager jobs near you
Infographic showing various Financial Risk Manager job openings in Virginia as of August 2026, with employment types broken down into 80% Full Time, 19% Part Time, and 1% Contract. Highlights an 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $110,599 per year, or $53.2 per hour.

Model Risk Senior Lead

Mclean, VA • On-site

Freddie Mac
Finance and Insurance • 5 - 10K employees
Learn more about Freddie Macexternal

Full-time

Posted 9 days ago

Freddie Mac rating

9.2

Company rating: 9.2 out of 10

Based on 5 frontline employees who took The Breakroom Quiz

Job description

At Freddie Mac, our mission of Making Home Possible is what motivates us, and it's at the core of everything we do. Since our charter in 1970, we have made home possible for more than 90 million families across the country. Join an organization where your work contributes to a greater purpose.
Position Overview:
This role sits at the center of Freddie Mac's enterprise model risk oversight, shaping how the company manages model risk across the business lines. As a Senior Lead, you'll strengthen model governance and model risk management. You'll partner closely across Enterprise Risk including Financial Risk and Non-Financial Risk areas, and the business divisions to manage model risk. The position offers high visibility, meaningful influence on enterprise outcomes, and the opportunity to innovate in model and AI/ML governance, risk system build-out, and risk control optimization while developing and leading talent in a fast-paced environment.
Our Impact:
The Enterprise Model Risk (EMR) team within the Enterprise Risk Division is responsible for oversight and effective challenge of the company's model risk. Together, we:
  • Establish governance, policies, and standards that define how the company manages model risk to support safety and soundness
  • Monitor and report on the risk and control profile, model risk appetite, and performance of risk indicators and metrics against thresholds and limits
  • Communicate enterprise-wide model risk management issues and validation findings and monitor effective and timely issue/finding resolution
  • Provide timely and independent oversight and effective challenge of the company's model risk management practices
  • Execute an integrated oversight plan in collaboration with Financial Risk and other Non-Financial Risk areas to support the Chief Risk Officer in providing senior management and the Board with an enterprise view of risks

Your Impact:
Senior Lead, Enterprise Model Risk Governance, an influential leader at Freddie Mac, you will:
  • Provide second line of defense governance and oversight across the enterprise model risk management framework, ensuring alignment with internal policy, standards, and regulatory expectations
  • Partner with model owners, model developers, validators, and business stakeholders to promote consistent execution of model risk management requirements across the full model lifecycle, including model development, implementation, use, monitoring, change management, and retirement
  • Support governance activities related to both traditional models and AI/ML models, including oversight of model inventory, model tiering, documentation standards, performance monitoring, and ongoing compliance with model risk management requirements
  • Review model-related submissions, governance materials, and lifecycle artifacts to assess completeness, quality, and consistency with enterprise standards
  • Monitor emerging practices, regulatory developments, and industry trends related to model risk management and AI/ML governance, and help translate them into practical governance enhancements
  • Support the development of model risk management tools and systems by partnering with business, technology, and operations teams on business requirements, workflow design, user acceptance testing, and implementation readiness
  • Act as an intent owner or business lead for model risk management system capabilities, helping prioritize enhancements, define user needs, and improve governance workflows and reporting. Including maintenance of the model risk management system.
  • Lead quality assurance activities to assess consistent conformance with applicable policies, standards, procedures, and governance requirements
  • Identify and implement opportunities for continuous improvement, automation, and efficiency to streamline governance execution, reduce manual effort, and strengthen process sustainability.
  • Build strong partnerships across Enterprise Risk, business divisions, and technology teams to strengthen model governance practices and promote a consistent second line perspective
  • Develop and coach team members while fostering a culture of accountability, collaboration, and high-quality oversight

Qualifications:
  • At least 10 years of experience in model risk management, model governance, model validation, quantitative risk management, or related functions within a large, complex financial institution
  • Bachelor's degree required; Master's degree preferred in finance, economics, statistics, mathematics, engineering, data science, or a related field
  • Strong understanding of model risk management principles, governance frameworks, and second line of defense responsibilities within the financial services industry
  • Experience overseeing or supporting model risk management across the full model lifecycle, including model development, implementation, use, performance monitoring, change management, and retirement
  • Knowledge of regulatory guidance and supervisory expectations related to model risk management, including SR 11-7 and relevant agency expectations applicable to financial institutions
  • Experience with governance of AI/ML models, including model documentation, conceptual soundness considerations, performance monitoring, explainability, model change management, and ongoing oversight expectations
  • Experience working with model risk management tools or systems, including business requirements development, workflow design, user acceptance testing, implementation support, or product ownership responsibilities
  • Strong collaboration skills with the ability to work effectively across first line, second line, validation, and technology teams
  • Strong written and verbal communication skills with the ability to communicate complex model risk and AI/ML governance topics clearly to a variety of audiences, including senior management
  • Demonstrated ability to manage multiple priorities, drive process improvements, and deliver high-quality results in a fast-paced environment
  • Experience leading, developing, or mentoring team members is preferred

Keys to Success in this Role:
  • Effective collaboration to build trust and increase efficiency across the three lines, including the business and Finance Divisions, Enterprise Risk Division, and Internal Audit
  • Ability to communicate effectively and efficiently
  • Ability to prioritize across multiple competing tasks, manage teams effectively, and deliver timely, high-quality, and well-documented oversight outcomes
  • Strong organization skills, analytical mindset, and ability to work in a fast-paced environment against tight deadlines
  • Remain current on the latest financial risk management developments, regulations, and industry trends

Current Freddie Mac employees please apply through the internal career site.
We consider all applicants for all positions without regard to gender, race, color, religion, national origin, age, marital status, veteran status, sexual orientation, gender identity/expression, physical and mental disability, pregnancy, ethnicity, genetic information or any other protected categories under applicable federal, state or local laws. We will ensure that individuals are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
A safe and secure environment is critical to Freddie Mac's business. This includes employee commitment to our acceptable use policy, applying a vigilance-first approach to work, supporting regulatory mandates, and using best practices to protect Freddie Mac from potential threats and risk. Employees exercise this responsibility by executing against policies and procedures and adhering to privacy & security obligations as required via training programs.
CA Applicants: Qualified applications with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.
Notice to External Search Firms: Freddie Mac partners with BountyJobs for contingency search business through outside firms. Resumes received outside the BountyJobs system will be considered unsolicited and Freddie Mac will not be obligated to pay a placement fee. If interested in learning more, please visit www.BountyJobs.com and register with our referral code: MAC.
Time-type:Full time
FLSA Status:Exempt
Freddie Mac offers a comprehensive total rewards package to include competitive compensation and market-leading benefit programs. Information on these benefit programs is available on our Careers site.
This position has an annualized market-based salary range of $151,000 - $227,000 and is eligible to participate in the annual incentive program. The final salary offered will generally fall within this range and is dependent on various factors including but not limited to the responsibilities of the position, experience, skill set, internal pay equity and other relevant qualifications of the applicant.

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About Freddie Mac

Sourced by ZipRecruiter

Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you'll do important work for the housing finance system and make a difference in the lives of others.

Industry

Finance and insurance

Company size

5,001 - 10,000 Employees

Headquarters location

McLean, VA, US

Year founded

1970

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