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Head Of Model Risk Management Jobs (NOW HIRING)

Wintrust

Officer, Model Risk Management

Rosemont, IL · On-site

Wintrust delivers the sophisticated solutions of a large bank while staying true to the ... Position Overview The Officer, Model Risk Management will conduct various activities related to ...

Wintrust

Officer, Model Risk Management

Rosemont, IL · On-site

Wintrust delivers the sophisticated solutions of a large bank while staying true to the ... Position Overview The Officer, Model Risk Management will conduct various activities related to ...

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$54K

$143.2K

$260K

How much do head of model risk management jobs pay per year?

As of Jun 5, 2026, the average yearly pay for head of model risk management in the United States is $143,185.00, according to ZipRecruiter salary data. Most workers in this role earn between $105,500.00 and $167,500.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Head Of Model Risk Management, and why are they important?

To thrive as a Head Of Model Risk Management, you need deep quantitative expertise, advanced knowledge of risk management frameworks, and a strong background in finance or mathematics, often supported by advanced degrees such as a PhD or MSc. Familiarity with statistical software (like Python, R, or SAS), model validation tools, and regulatory compliance systems is typically required. Exceptional leadership, communication, and critical thinking skills are essential for effectively managing teams and presenting complex risk issues to stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and sound decision-making within financial institutions.

What is the difference between Head Of Model Risk Management vs Model Validation Manager?

AspectHead Of Model Risk ManagementModel Validation Manager
Primary FocusOversees overall model risk framework, governance, and strategyConducts independent validation and testing of models
ResponsibilitiesRisk oversight, policy development, senior stakeholder communicationModel testing, performance assessment, validation reports
CredentialsAdvanced degrees, certifications like FRM, CFA, or CAMS, experience in risk managementQuantitative background, certifications like CFA, FRM, strong modeling expertise
Work EnvironmentStrategic, leadership role within risk management teamsTechnical, analytical role focused on model validation tasks

The Head Of Model Risk Management oversees the entire model risk framework, focusing on strategy and governance, while the Model Validation Manager specializes in testing and validating individual models. Both roles require strong quantitative skills and relevant certifications, but differ in scope and responsibilities.

How much does a head of risk make?

A Head of Model Risk Management typically earns between $150,000 and $250,000 annually, depending on the size of the organization, location, and experience. Senior roles may include bonuses and benefits, and strong expertise in risk modeling, regulatory standards, and leadership are often required.

What are the main challenges faced by a Head of Model Risk Management in maintaining regulatory compliance?

A Head of Model Risk Management often faces the challenge of keeping up with evolving regulatory expectations and ensuring that all models used within the organization are compliant. This involves constantly monitoring regulatory updates, coordinating with various departments to implement necessary changes, and maintaining detailed documentation for audit purposes. Additionally, the role requires balancing the need for innovation in modeling techniques with the necessity of robust risk controls and transparent validation processes. Regular communication with risk, compliance, and audit teams is essential to address these challenges effectively.

What does a Head of Model Risk Management do?

A Head of Model Risk Management oversees the processes and teams responsible for identifying, assessing, and mitigating risks associated with financial and predictive models used within an organization. This role involves establishing and maintaining model risk frameworks, ensuring regulatory compliance, and leading model validation activities. They also coordinate with other departments to ensure the effective management and governance of all models, providing guidance on best practices and emerging risks. Ultimately, their goal is to minimize model-related losses and support sound decision-making across the business.
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Head Of Model Risk Management jobs near you
Infographic showing various Head Of Model Risk Management job openings in the United States as of May 2026, with employment types broken down into 73% Full Time, 18% Part Time, and 9% Contract. Highlights an 86% In-person, 5% Hybrid, and 9% Remote job distribution, with an average salary of $143,185 per year, or $68.8 per hour.
Head of Validation, Model Risk Management

Head of Validation, Model Risk Management

Vangard, Inc.

Charlotte, NC

Full-time

Posted 6 days ago

Job description

Overview
The Head of Validation, Model Risk is a senior leadership role responsible for setting enterprise direction for model validation-delivering independent, risk-based oversight across a diverse portfolio of models spanning investment and risk management, fraud and compliance, finance and HR, and rapidly evolving Gen AI and agentic use cases. This role serves as the senior authority for model validation, setting the bar for defensible methodologies, rigorous challenge, and clear, decision-ready risk communication to senior leaders. The Head of Validation will strengthen model risk culture and lifecycle discipline across the enterprise-driving timely issue remediation, elevating validation quality and consistency, and ensuring Vanguard's practices remain aligned with regulatory and audit expectations.

Responsibilities

Leadership & Team Management

  • Leads a highperforming, multidisciplinary model validation team responsible for validating a diverse portfolio of models including investment and risk management, fraud and compliance, finance and HR, as well as Gen AI and Agentic use cases
  • Develop and mentor talent to promote strong technical capabilities and a high-quality validation process

Validation Oversight & Approval

  • Serve as the final approval authority for validation reports on higher-risk models
  • Ensure validation conclusions are robust, wellsupported, and communicated clearly to stakeholders with varying levels of technical expertise

Model Risk Governance & Lifecycle Management

  • Oversee adherence to enterprise model lifecycle requirements-including model inventory accuracy, change management, ongoing monitoring, and issue remediation.
  • Drive timely resolution of modelrelated issues and noncompliance, escalating when necessary
  • Strengthen modelrisk culture across the enterprise through targeted training, outreach, and proactive engagement with model owners and developers

Methodology & Practice Leadership

  • Define, maintain, and continually enhance the methodologies and test approaches used in model validation
  • Ensure comprehensive assessment of conceptual soundness, performance, data quality, implementation accuracy, and other model risk considerations
  • Lead the evolution of validation techniques for emerging modeling approaches, including LLMenabled and agentic systems

Standards, Policies & Quality Assurance

  • Own the enterprise's model development and model validation standards, guidelines, procedures, and templates.
  • Establish and oversee quality assurance mechanisms-including peer review, thematic reviews, and consistency checks-to ensure embedment of high-quality validation practices.

Executive Reporting & Model Risk Insights

  • Deliver clear, actionable reporting on key model risks, model uncertainty, issue remediation, and emerging trends to senior committees and executives.
  • Support the development and enhancement of divisional and enterprise modelquality scorecards and contribute to the riskappetite process

Senior Stakeholder, Regulatory & Audit Engagement

  • Serve as a primary point of contact for regulators, internal audit, and senior leaders on model validation related matters
  • Articulate validation rationales, modeling assumptions, and risk implications clearly and confidently to supervisory authorities and executive stakeholders.


Qualifications

  • Advanced degree in technical field (e.g. Master's or doctoral degree in quantitative discipline such as Mathematics, Statistics, or Economics).
  • 10+ years of experience across model development, model validation, and model risk management, including a minimum of five years leading multilayered model validation teams.
  • Extensive experience with a broad range of model types, including machine learning/LLMbased models.
  • Deep knowledge of modelrisk management principles and regulatory frameworks (e.g., SR26-2, SS1/23) and demonstrated experience engaging with regulators and internal audit.
  • Strong technical proficiency with programming languages and analytical tools such as Python, R, or C++, and familiarity with emerging technologies, AI governance, and modern model development practices.
  • Proven ability to translate complex technical concepts into clear, actionable insights for senior executives.
  • Exceptional written and verbal communication skills, including experience presenting to senior committees, executives, and regulatory bodies.
  • Demonstrated ability to partner with stakeholders to balance effective challenge, practical solutions, and business objectives.

Special Factors

Sponsorship

Vanguard is not offering visa sponsorship for this position.

About Vanguard

At Vanguard, we don't just have a mission-we're on a mission.

To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.

How We Work

Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.

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