... model risk, legal). Qualifications: * 12+ years of experience in business management, chief of ... staff, strategy, operations, or program leadership roles within financial services, housing finance ...
... model risk, legal). Qualifications: * 12+ years of experience in business management, chief of ... staff, strategy, operations, or program leadership roles within financial services, housing finance ...
... model risk, legal). Qualifications: * 12+ years of experience in business management, chief of ... staff, strategy, operations, or program leadership roles within financial services, housing finance ...
... model risk, legal). Qualifications: * 12+ years of experience in business management, chief of ... staff, strategy, operations, or program leadership roles within financial services, housing finance ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Manager, Data Scientist - Model Risk Office Data is at the center of everything we do. As a startup ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
Senior Business Analyst - Strategy & Transformation (Model Risk)
Mclean, VA · On-site
$111 - $127/hr
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
Senior Business Analyst - Strategy & Transformation (Model Risk)
Mclean, VA · On-site
$111 - $127/hr
The MROf owns model policy at Capital One, and sits at the intersection of Data Science, Business, Risk Management, and Technology - with a mission to cultivate data and modeling excellence at ...
Director - Enterprise Risk Management
Richmond, VA · On-site
$150 - $190/hr
R43731The Director of Enterprise Risk Management is responsible for directing the VCU Health System ... model risk and criticality, process improvement, data standards, and documentation requirements.
Director - Enterprise Risk Management
Richmond, VA · On-site
$150 - $190/hr
R43731The Director of Enterprise Risk Management is responsible for directing the VCU Health System ... model risk and criticality, process improvement, data standards, and documentation requirements.
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Senior Manager, Data Science - Model Risk Office Data is at the center of everything we do. As a ... status, and management level. This role is expected to accept applications for a minimum of 5 ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
The Enterprise Operations & Technology (EO&T) Risk Governance Team provides risk management support for the maturation of the EO&T division's model risk governance process, third-party vendor risk ...
The Enterprise Operations & Technology (EO&T) Risk Governance Team provides risk management support for the maturation of the EO&T division's model risk governance process, third-party vendor risk ...
The Enterprise Operations & Technology (EO&T) Risk Governance Team provides risk management support for the maturation of the EO&T division's model risk governance process, third-party vendor risk ...
The Enterprise Operations & Technology (EO&T) Risk Governance Team provides risk management support for the maturation of the EO&T division's model risk governance process, third-party vendor risk ...
Senior Lead - Enterprise Portfolio Credit Risk
Mclean, VA · On-site
$167 - $251/hr
As an independent risk leader, you'll provide effective challenge to models and deterministic ... of models, methodologies, and judgments used to measure and manage stress losses and capital ...
Senior Lead - Enterprise Portfolio Credit Risk
Mclean, VA · On-site
$167 - $251/hr
As an independent risk leader, you'll provide effective challenge to models and deterministic ... of models, methodologies, and judgments used to measure and manage stress losses and capital ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
Master's Degree or Master of Business Administration (MBA) Degree * 5+ years of Project Management experience * 2+ years of model risk management experience in a regulated financial institution * 2+ ...
... of making better decisions with models. We use our statistics, software engineering, and business expertise to drive the best outcomes in both Risk Management and the Enterprise. The successful ...
... of making better decisions with models. We use our statistics, software engineering, and business expertise to drive the best outcomes in both Risk Management and the Enterprise. The successful ...
Head Of Model Risk Management information
See Virginia salary details
$53.5K - $72.1K
6% of jobs
$72.1K - $90.7K
6% of jobs
$104K is the 25th percentile. Wages below this are outliers.
$90.7K - $109.2K
17% of jobs
$109.2K - $127.8K
16% of jobs
The median wage is $131.2K / yr.
$127.8K - $146.4K
23% of jobs
$156.6K is the 75th percentile. Wages above this are outliers.
$146.4K - $164.9K
11% of jobs
$164.9K - $183.5K
6% of jobs
$183.5K - $202.1K
4% of jobs
$202.1K - $220.6K
4% of jobs
$220.6K - $239.2K
2% of jobs
$239.2K - $257.8K
3% of jobs
$53.5K
$142K
$257.8K
How much do head of model risk management jobs pay per year?
As of Aug 18, 2026, the average yearly pay for head of model risk management in Virginia is $141,956.00, according to ZipRecruiter salary data. Most workers in this role earn between $104,600.00 and $166,100.00 per year, depending on experience, location, and employer.
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.
What are the key skills and qualifications needed to thrive as a head of model risk management?
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 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 is the difference between Head Of Model Risk Management vs Model Validation Manager?
| Aspect | Head Of Model Risk Management | Model Validation Manager |
|---|---|---|
| Primary Focus | Oversees overall model risk framework, governance, and strategy | Conducts independent validation and testing of models |
| Responsibilities | Risk oversight, policy development, senior stakeholder communication | Model testing, performance assessment, validation reports |
| Credentials | Advanced degrees, certifications like FRM, CFA, or CAMS, experience in risk management | Quantitative background, certifications like CFA, FRM, strong modeling expertise |
| Work Environment | Strategic, leadership role within risk management teams | Technical, 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.
What job categories do people searching Head Of Model Risk Management jobs in Virginia look for?
The top searched job categories for Head Of Model Risk Management jobs in Virginia are:
What cities in Virginia are hiring for Head Of Model Risk Management jobs?
Cities in Virginia with the most Head Of Model Risk Management job openings:
Full-time
Posted 8 days ago
Freddie Mac rating
9.2
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:
Freddie Mac's Single-Family Credit Risk Management (CRM) division is seeking a Business Management Senior Director, reporting to the Chief Credit Officer to serve as the strategic integrator and operational backbone for a 250+ person organization. This leader will own the department's operating rhythm, drive a portfolio of high-impact initiatives, and ensure alignment between executive priorities and day-to-day execution across CRM.
The role blends executive-level partnership with operational leadership and program execution - setting direction, establishing governance, aligning stakeholders, and ensuring measurable outcomes across complex, interdependent workstreams in a highly regulated environment.
Our Impact:
Single-Family Credit Risk Management safeguards Freddie Mac's mission by governing credit policy, underwriting standards, and model oversight that enable safe, sound, and affordable lending across the U.S. housing market. The Business Management function accelerates this mission by providing the operating backbone for the department - running the operating rhythm (planning, governance, prioritization, performance management, and executive communications), leading cross-functional initiatives, and ensuring CRM's voice is represented effectively with senior Freddie Mac leadership, FHFA, and the Board.
Your Impact:
Qualifications:
Keys to Success in this Role:
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 $212,000 - $318,000 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.
Position Overview:
Freddie Mac's Single-Family Credit Risk Management (CRM) division is seeking a Business Management Senior Director, reporting to the Chief Credit Officer to serve as the strategic integrator and operational backbone for a 250+ person organization. This leader will own the department's operating rhythm, drive a portfolio of high-impact initiatives, and ensure alignment between executive priorities and day-to-day execution across CRM.
The role blends executive-level partnership with operational leadership and program execution - setting direction, establishing governance, aligning stakeholders, and ensuring measurable outcomes across complex, interdependent workstreams in a highly regulated environment.
Our Impact:
Single-Family Credit Risk Management safeguards Freddie Mac's mission by governing credit policy, underwriting standards, and model oversight that enable safe, sound, and affordable lending across the U.S. housing market. The Business Management function accelerates this mission by providing the operating backbone for the department - running the operating rhythm (planning, governance, prioritization, performance management, and executive communications), leading cross-functional initiatives, and ensuring CRM's voice is represented effectively with senior Freddie Mac leadership, FHFA, and the Board.
Your Impact:
- Lead department operations (business management): Own the operating rhythm for CRM - strategic planning, prioritization, performance management, budget and resource coordination, training, communications, and executive reporting.
- Serve as Primary Business Management strategy and execution for the Chief Credit Officer: Translate executive priorities into coordinated execution, represent the CCO in key forums, and enable clarity and alignment across the department.
- Oversee the policy development lifecycle: Manage the Guide Bulletin process, Terms of Business updates, and FHFA submissions - driving consistency and operational effectiveness from intake through publication.
- Drive a portfolio of transformation initiatives: Lead and coordinate major programs and the department-wide Project Management capability, including model portfolio oversight across 20+ models.
- Engage senior stakeholders: Represent CRM with Freddie Mac executive leadership, FHFA, the Board, and internal control functions (audit, compliance, model risk, legal).
Qualifications:
- 12+ years of experience in business management, chief of staff, strategy, operations, or program leadership roles within financial services, housing finance, fintech, or a highly regulated environment
- Proven success leading complex, cross-functional portfolios with multiple stakeholders and interdependent workstreams.
- Demonstrated ability to lead division operations (planning, governance, metrics, executive reporting, budget and resource coordination)
- Strong executive presence with the ability to advise, influence, and represent senior leaders
- Exceptional communication skills - able to translate complex topics into clear narratives for executives and broad stakeholder groups
- Strong risk and control mindset; comfort operating in regulated environments with audit, compliance, and model risk considerations
- Familiarity with mortgage industry concepts (credit policy, underwriting, loan delivery, model risk, investor guidelines) or adjacent capital markets domains preferred
- PMP, AMP, ADKAR (or equivalent change management) certifications preferred
- MBA or advanced degree in business, public policy, analytics, or a related field (or equivalent experience) preferred
Keys to Success in this Role:
- Operate as the "integrator" for the department: Connect strategy, execution, and day-to-day operations so the CCO and leadership team have clarity, momentum, and control
- Build trusted partnerships: Earn credibility with policy, product, technology, risk, legal/compliance, FHFA, and enterprise teams to unblock decisions quickly
- Create a scalable operating model: Standardize governance, intake, prioritization, and communications so business management becomes repeatable and sustainable
- Lead through change: Drive adoption with strong change management - stakeholder engagement, training, communications, and feedback loops
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 $212,000 - $318,000 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.
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