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Head Of Model Risk Management Jobs in Chelsea, MA

Deloitte

Model Validation Senior Manager

Boston, MA · On-site

... risk management processes for AI. * Perform effective independent challenge of model design choices, data suitability, assumptions, limitations, and intended use. * Validate model performance and ...

Deloitte

Model Validation Senior Manager

Boston, MA · On-site

... risk management processes for AI. * Perform effective independent challenge of model design choices, data suitability, assumptions, limitations, and intended use. * Validate model performance and ...

ITF Therapeutics

Head of Finance

Concord, MA · On-site

Maintain ITF's insurance policies and risk management program. * Lead all treasury activities ... modeling, scenario analysis, and decision-ready insights. * Collaborate with functional and ...

ITF Therapeutics

Head of Finance

Concord, MA

Maintain ITF's insurance policies and risk management program. * Lead all treasury activities ... modeling, scenario analysis, and decision-ready insights. * Collaborate with functional and ...

Geode Capital Management

Head of Trading

Boston, MA · On-site

$350 - $520/hr

Head of Trading Location: Boston, MA Job Id: 462 # of Openings: 1 Key Responsibilities * Lead ... Manage day-to-day workflow allocation across the trading desk, ensuring adequate coverage, risk ...

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All JobsHead Of Model Risk Management JobsHead Of Model Risk Management Jobs in Chelsea, MA

Head Of Model Risk Management information

See Chelsea, MA salary details

$58.7K

$155.6K

$282.5K

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

As of Jul 21, 2026, the average yearly pay for head of model risk management in Chelsea, MA is $155,587.00, according to ZipRecruiter salary data. Most workers in this role earn between $114,600.00 and $182,000.00 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.

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.
What cities near Chelsea, MA are hiring for Head Of Model Risk Management jobs? Cities near Chelsea, MA with the most Head Of Model Risk Management job openings:
Head Of Model Risk Management jobs near you
Quantitative Risk Officer and Risk Model Developer

Quantitative Risk Officer and Risk Model Developer

State Street Global Advisors

Boston, MA

$75K - $123K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 11 days ago

Job description

Who we are looking for

A strong quantitative modeler to join the team as an Officer and Credit Risk Modeler based in New Jersey, Connecticut, or Boston. This role is part of the Centralized Modeling, Analytics and Operations Group within Enterprise Risk Management's Financial Risk Organization.

Why this role is important to us

The team you will be joining plays a critical role in the organization's overall success. Across the globe, institutional investors rely on us to manage risk, respond to complex challenges, and drive performance and profitability. To deliver on that mission, we need teams like yours-teams that help the organization operate effectively, adapt quickly, and remain resilient. In this role, you will focus on developing cuttingedge solutions that are both scalable and practical, while contributing to strong daytoday execution. Join us if you are motivated to make a meaningful impact in the financial services industry from day one.

What you will be responsible for

As Credit Risk Modeler you will:

  • Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street's wholesale portfolios, including Commercial Real Estate (CRE), Corporate, Private Equity (PE) Fund and Private Credit (PC) exposures, etc.

  • Develop credit portfolio risk models for CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital

  • Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements

  • Review and verify key model assumptions with model owners

  • Review model outputs with properly justified opinions and judgments by experts from credit risk managers to capture forward-looking financial market and macro-economic outlooks

  • Implement internally developed models on risk analytical library platform

  • Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business

  • Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics

  • Prepare and present required reports/reviews to model risk management, senior management and global regulators

What we value

These skills will help you succeed in this role:

  • Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies

  • Energetic/motivator: an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi-level workforce and instill a sense of urgency on a range of evolving goals and objectives

  • Organizational strengths: an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction

  • Confidence: a self-assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well-presented direction or analysis, with a willingness to negotiate, and concede, when needed

  • Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness

Education & Preferred Qualifications

  • MS or PhD in statistics or econometrics or equivalent, prefer research area in survival analysis/event history analyses or related areas; Prefer research area that involves heavy programming work with strong programming skills in Python/R/C/C++/SQL etc.

  • Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus.

  • Strong programming skills in Python/R/C/C++/SQL etc.

  • Demonstrated experiences working with model development teams, analytical library development team and technology

  • Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in financial industry

Salary Range:

$75,000 - $123,750 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

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