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Internship Model Risk Governance Jobs in Chicago, IL

ElectronX

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Experience with enterprise risk governance, Board-level risk reporting, and risk committee leadership. * Expert quantitative skills in risk modeling, VaR, stress testing, scenario analysis, and back ...

Synchrony

AVP, Model Validation

Chicago, IL · On-site

... Risk Management in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.

PayPal

Sr Machine Learning Engineer

Chicago, IL

$57.50 - $76/hr

The position also supports AI and model risk governance to ensure compliance with PayPal's enterprise risk framework and evolving regulatory standards. Essential Responsibilities: * Develop and ...

PayPal, Inc.

Sr Machine Learning Engineer

Chicago, IL · On-site

$57.50 - $76/hr

The position also supports AI and model risk governance to ensure compliance with PayPal's enterprise risk framework and evolving regulatory standards. Essential Responsibilities: * Develop and ...

Antares Capital LP

AI Engineer

Chicago, IL · On-site

Awareness of financial-industry considerations: data privacy, model risk/governance, auditability, and secure development practices. * Excellent communication skills and the ability to influence and ...

Antares Capital LP

AI Engineer

Chicago, IL · Hybrid

Awareness of financial-industry considerations: data privacy, model risk/governance, auditability, and secure development practices. * Excellent communication skills and the ability to influence and ...

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Internship Model Risk Governance information

See Chicago, IL salary details

$26.3K

$43.9K

$90.7K

How much do internship model risk governance jobs pay per year?

As of May 29, 2026, the average yearly pay for internship model risk governance in Chicago, IL is $43,867.00, according to ZipRecruiter salary data. Most workers in this role earn between $33,500.00 and $47,400.00 per year, depending on experience, location, and employer.

What is the difference between Internship Model Risk Governance vs Model Risk Analyst?

AspectInternship Model Risk GovernanceModel Risk Analyst
CredentialsTypically pursuing or recent graduate, some familiarity with risk managementOften requires relevant certifications or experience in risk analysis
Work EnvironmentInternship setting, supervised, learning-focusedFull-time, analytical, risk assessment-focused
Employer & IndustryFinancial institutions, banks, asset managersFinancial services, banking, investment firms

Internship Model Risk Governance roles are entry-level, focusing on supporting risk governance processes under supervision, ideal for students or recent graduates. Model Risk Analysts are more experienced, responsible for analyzing and managing model risks independently. Both roles are vital in financial risk management but differ in experience level and responsibilities.

What are the most commonly searched types of Model Risk Governance jobs in Chicago, IL? The most popular types of Model Risk Governance jobs in Chicago, IL are:
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What cities near Chicago, IL are hiring for Internship Model Risk Governance jobs? Cities near Chicago, IL with the most Internship Model Risk Governance job openings:
Internship Model Risk Governance jobs near you
AVP, Strategy Monitoring & Analytics

AVP, Strategy Monitoring & Analytics

Synchrony

Chicago, IL • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Role Summary/Purpose
The AVP Strategy Monitoring & Analytics is part of the Strategy Monitoring pillar of the Model Operations & Analytics (MO&A) Center of Excellence and drives executional oversight for customer decisioning strategies. The lead partners with strategy owners to design and maintain standardized monitoring frameworks, deliver timely and accurate performance reporting, and document results for governance and credit forums. This role also mentors reporting strategy monitoring analyst(s) and aligns with customer-decisioning strategy developers and Model Risk Management (MRM) to define and monitor the key performance indicators (KPIs) and metrics used for strategy performance management.
Essential Responsibilities
  • Design monitoring frameworks and develop metrics to track the performance of model-based strategies and assess the impact on portfolio performance.
  • Collaborate with strategy owners to define KPIs, dashboards, and real-time reporting tools.
  • Identify execution gaps or divergence from strategic targets and support business leaders in driving timely course corrections.
  • Provides monitoring results for strategy changes relative to expected outcomes.
  • Develop thorough and detailed documentation to support the development of model-based strategies and ongoing performance monitoring to ensure consistency, transparency, and alignment with organizational goals.
  • Execute governance for ongoing review cycles of model-based strategies and synthesize and report for executive management, including the firm leadership and Board.
  • Integrate external and macroeconomic indicators to assess strategy resiliency and forecast forward-looking performance.
  • Leverage tools such as SQL, Tableau, or Python to monitor trends and deliver insights that influence strategic recalibration.
  • Partner with compliance, model risk, and operations to ensure strategic execution adheres to internal control and regulatory standards.
  • Collaborate with model development teams to ensure alignment between model changes and strategy updates.
  • Perform segmentation, cohort analysis, and experimentation to evaluate strategy impact.
  • Work cross functionally with strategy leads to support their analytics of strategies and models Mentor reporting analyst(s) to support identification for performance variances and track measurable outcomes.
  • Perform other duties and/or special projects as assigned.

Qualifications/Requirements
  • Bachelor's degree and 3+ years of analytics experience in areas such as strategy analytics, credit risk, business performance monitoring, or decision science in a financial services or regulated environment; or in lieu of a Bachelor's Degree, a High School Diploma / GED and a minimum of 7 years of analytics experience in areas such as strategy analytics, credit risk, business performance monitoring, or decision science in a financial services or regulated environment
  • 3+ years of experience in tools such as SQL, Tableau, Python, or other analytics and visualization platforms, with experience delivering actionable insights to senior audiences.
  • Proven experience executing performance monitoring frameworks, with a deep understanding of portfolio behavior, KPI management, and business impact analysis.
  • Strong working knowledge of customer lifecycle strategies (e.g., acquisition, account management, collections/ recovery) and the ability to interpret strategic changes through measurable outcomes.
  • Demonstrated ability to translate strategic objectives into robust, data-driven monitoring processes and support timely governance deliverables
  • Familiarity with model governance or credit risk governance and regulatory expectations
  • Strong attention to detail and the ability to synthesize complex trends into clear summaries for executive-level reporting and dashboards.
  • Experience in supporting performance variance identification, trend diagnostics, and course-correction support for business leaders.
  • Ability and flexibility to travel for business as required

Desired Skills
  • Bachelor's degree in a quantitative, analytical, or business-related discipline (e.g., Statistics, Economics, Finance, Data Science, Business Analytics);
  • Master's degree preferred
  • Strong verbal and written communication skills demonstrated through executive and cross-functional stakeholder engagement, detailed-oriented documentation, and visual storytelling
  • Experience collaborating with Model Risk Management, Compliance, and Risk functions is a plus
  • Advanced critical thinking skills in analytical problem-solving and the ability to use data to break down complex models
  • Strong project management and leadership skills to achieve specific goals within a defined timeline and budget
  • Ability to effectively share knowledge by translating complex, technical subject matter and providing actionable coaching and feedback across all levels
  • Familiarity with modeling approaches such as logistic regression, XGBoost and tree ensembles
  • Strong business acumen and familiarity with model governance frameworks, regulatory expectations, and internal audit processes (e.g., SR 11-7 compliance, MRM policies).
  • Technical experience with exploratory data analysis, statistical modeling, machine learning, and generative AI.
  • Proven ability to apply machine learning techniques in business contexts, combining them with statistical modeling, EDA, and GenAI to drive innovation and performance.
  • Strong understanding of model evaluation metrics such as precisions, recall, F1 and understanding of Lines of Defense (2nd Line Strategy Validation and 3rd Line Internal Audit).

Grade/Level: 10
The salary range for this position is 100,000.00 - 170,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.
Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.
Salaries are adjusted according to market in CA, NY Metro and Seattle.
Our Way of Working:
We're proud to offer you flexibility. At Synchrony, our way of working allows you to have the option to work from home near one of our Hubs or come into one of our offices. You will be required to commute to your nearest Hub (either virtual or physical) for in-person engagement activities such as regular business or team meetings, training and culture events.
*Field Sales and some Commercial team roles may have varied location requirements based upon partner obligations or preferences.
Eligibility Requirements:
  • You must be 18 years or older
  • You must have a high school diploma or equivalent
  • You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
  • You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
  • New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).

Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Our Commitment:
When you join us, you'll be part of an inclusive culture where your individual skills, experience, and voice are not only heard - but valued. Together, we're building a future where we can all belong, connect, and turn ideals into action. More than 50% of our workforce is engaged in our Employee Resource Groups (ERGs), where community and passion intersect to offer a safe space to learn and grow.
This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status. We're proud to have an award-winning culture for all.
Reasonable Accommodation Notice:
  • Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
  • If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time

Job Family Group:
Data Analytics

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