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Model Risk Analyst Jobs in Massachusetts (NOW HIRING)

State Street Corporation

Quantitative Risk

Boston, MA · On-site

$104K - $180K/yr

This role will be part of the CMAO team focused on delivering modeling and analytics solutions to assess counterparty credit risk and market risk managed by State Street Global Markets ("SSGM"). The ...

State Street Global Advisors

Quantitative Risk

Boston, MA · Hybrid

$104K - $180K/yr

This role will be part of the CMAO team focused on delivering modeling and analytics solutions to assess counterparty credit risk and market risk managed by State Street Global Markets ("SSGM"). The ...

Citizens Bank

Asset & Liability Sr. Analyst

Boston, MA · On-site

$109K - $141K/yr

Conduct complex ad hoc analyses to support executive decision-making related to balance sheet modeling, scenario analysis, forecasting, and interest rate risk management. Qualifications, Education ...

Citizens

Asset & Liability Sr. Analyst

Boston, MA · Hybrid

$109K - $141K/yr

Conduct complex ad hoc analyses to support executive decision-making related to balance sheet modeling, scenario analysis, forecasting, and interest rate risk management. Qualifications, Education ...

Citizens

Asset & Liability Sr. Analyst

Boston, MA · Hybrid

$109K - $141K/yr

Conduct complex ad hoc analyses to support executive decision-making related to balance sheet modeling, scenario analysis, forecasting, and interest rate risk management. Qualifications, Education ...

Citizens

Asset & Liability Sr. Analyst

Boston, MA · Hybrid

$109K - $141K/yr

Conduct complex ad hoc analyses to support executive decision-making related to balance sheet modeling, scenario analysis, forecasting, and interest rate risk management. Qualifications, Education ...

Whoop

Senior GRC Analyst

Boston, MA · On-site

$130K - $170K/yr

The ideal candidate combines strong analytical thinking, critical risk mind-set with the ability to ... risk in system designs, cloud architecture, identity models, data flows, and platform changes

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Model Risk Analyst information

See Massachusetts salary details

$16

$44

$71

How much do model risk analyst jobs pay per hour?

As of Aug 6, 2026, the average hourly pay for model risk analyst in Massachusetts is $44.21, according to ZipRecruiter salary data. Most workers in this role earn between $32.55 and $53.80 per hour, depending on experience, location, and employer.

What is a model risk analyst?

A Model Risk Analyst evaluates, validates, and monitors financial models to ensure they function correctly and comply with regulatory standards. They identify potential risks in model assumptions, data quality, and methodologies. Their work helps financial institutions mitigate model-related risks that could lead to inaccurate decision-making. Analysts collaborate with model developers, risk managers, and auditors to improve model performance and documentation. Strong analytical, statistical, and programming skills are essential for this role.

Do model risk analysts make good money?

Model risk analysts typically earn competitive salaries that vary by industry, experience, and location. Entry-level positions often start around $70,000 annually, with experienced professionals earning over $120,000, especially in financial services and banking sectors. Certifications like CFA or FRM and proficiency in programming tools such as Python or SAS can enhance earning potential.

What skills and qualifications are needed to be a model risk analyst?

To thrive as a Model Risk Analyst, you need strong quantitative analysis skills, a background in mathematics, statistics, finance, or a related field, and experience in model validation practices. Familiarity with programming languages such as Python, R, SAS, and tools like Excel, along with knowledge of regulatory requirements such as SR 11-7, is typically essential; certifications like FRM or CFA can be advantageous. Excellent communication, attention to detail, and critical thinking are important soft skills for presenting findings and collaborating with cross-functional teams. Mastery of these skills ensures the integrity and reliability of risk models, supporting sound business decisions and regulatory compliance.

What does a model risk analyst do?

A model risk analyst evaluates and monitors the risks associated with financial or operational models used by organizations. They review model assumptions, validate model accuracy, and ensure compliance with regulatory standards, often using statistical and analytical tools. Their work helps prevent financial losses and supports decision-making processes.

What challenges might a model risk analyst face in their daily work?

Model Risk Analysts often encounter challenges such as ensuring data quality, identifying model limitations, and keeping up with evolving regulatory standards. They must frequently balance the technical rigor needed to validate complex financial models with the need to communicate their findings clearly to stakeholders without a technical background. Additionally, adapting quickly to new modeling methodologies or changing business priorities is common. Overcoming these challenges requires ongoing learning, strong collaboration with model developers, and a proactive approach to risk management.

What are popular job titles related to Model Risk Analyst jobs in Massachusetts? For Model Risk Analyst jobs in Massachusetts, the most frequently searched job titles are:
What job categories do people searching Model Risk Analyst jobs in Massachusetts look for? The top searched job categories for Model Risk Analyst jobs in Massachusetts are:
Model Risk Analyst jobs near you
Infographic showing various Model Risk Analyst job openings in Massachusetts as of August 2026, with employment types broken down into 2% As Needed, 78% Full Time, 15% Part Time, 1% Temporary, and 4% Contract. Highlights an 90% Physical, 3% Hybrid, and 7% Remote job distribution, with an average salary of $91,967 per year, or $44.2 per hour.

Ph.D. Graduate Intern - Quantitative Portfolio Risk Analytics

Risk Analytics Company

Cambridge, MA • On-site

Full-time

Re-posted 20 hours ago

Job description

Ph.D. Graduate Intern – Quantitative Portfolio Risk Analytics (Cross-Disciplinary)

Position Overview
We are seeking an exceptional Ph.D. graduate student to join our team as a Quantitative Portfolio Risk Analytics Intern. This role focuses on developing and applying advanced analytical methods to understand portfolio risk, market structure, and complex financial systems.
We are intentionally recruiting from cross-disciplinary, research-driven backgrounds. Doctoral candidates from fields such as physics, astrophysics, math, applied mathematics, statistics, engineering, economics, computer science, quantum computing, biotech, and other data-intensive sciences are strongly encouraged to apply—especially those interested in translating rigorous quantitative methods into real-world financial applications.
Key Responsibilities
  • Develop and enhance quantitative models for portfolio risk, including factor-based and statistical approaches 
  • Analyze large, high-dimensional financial datasets to uncover structure, dependencies, and sources of risk 
  • Design and implement analytical tools and pipelines using Python and SQL 
  • Contribute to model validation, backtesting, and performance evaluation 
  • Collaborate with risk, engineering, and data teams to improve model scalability and data infrastructure 
  • Communicate complex quantitative insights through clear visualizations and technical summaries 
  • Apply advanced methodologies from your discipline (e.g., stochastic modeling, optimization, machine learning, or geometric/topological approaches) to improve risk analytics 
Required Qualifications
  • Currently enrolled in a graduate Ph.D. program in a highly quantitative field (e.g., Math, Applied Mathematics, Physics, Astrophysics, Statistics, Computer Science, Engineering, Financial Engineering, Economics, Biotech or other data-driven disciplines) 
  • Strong foundation in probability, statistics, and numerical methods 
  • Proficiency in Python (NumPy, pandas, or similar) and/or SQL 
  • Experience working with large datasets and implementing quantitative models 
  • Ability to think rigorously about complex systems and translate theory into practical solutions 
Preferred Qualifications
  • Familiarity with quantitative finance concepts (e.g., portfolio theory, factor models, volatility modeling, Value-at-Risk) 
  • Experience with scientific computing, optimization, or machine learning 
  • Background or research in cross-disciplinary areas such as: 
    • Statistical physics, complex systems, or network theory 
    • Applied or computational mathematics 
    • Machine learning or probabilistic modeling 
    • Quantum computing or advanced optimization techniques 
    • Topological data analysis or geometric data methods 
  • Prior research, publications, or project work demonstrating advanced quantitative modeling 
What You’ll Gain
  • Exposure to real-world portfolio risk problems at the intersection of finance and advanced analytics 
  • Opportunity to apply cutting-edge academic methods in a production environment 
  • Collaboration with a highly quantitative, cross-disciplinary team 
  • Experience working with large-scale financial data and modern analytics infrastructure 
  • Mentorship and potential pathway to full-time quantitative roles 
Duration & Compensation
  • Internship: Summer 2026, with potential to extend 
  • Paid internship (competitive, based on experience and location)