ZipRecruiter

Log In

1

Model Risk Analyst Jobs in New York (NOW HIRING)

next page

Showing results 1-20

People also search for

All JobsModel Risk Analyst JobsModel Risk Analyst Jobs in New York

Model Risk Analyst information

See New York salary details

$16

$44

$72

How much do model risk analyst jobs pay per hour?

As of Jun 1, 2026, the average hourly pay for model risk analyst in New York is $44.29, according to ZipRecruiter salary data. Most workers in this role earn between $32.60 and $53.89 per hour, depending on experience, location, and employer.

What is a Model Risk Analyst job?

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.

What are the key skills and qualifications needed to thrive in the Model Risk Analyst position, and why are they important?

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 are some typical challenges a Model Risk Analyst might 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.

How much do risk analysts get paid?

Risk analysts typically earn a median annual salary of around $70,000 to $90,000, depending on experience, industry, and location. Model risk analysts, a specialized role, often have salaries in this range but may earn more with advanced certifications or in financial sectors. Entry-level positions usually start lower, while senior roles can exceed $100,000 annually.
More about Model Risk Analyst jobs
What are popular job titles related to Model Risk Analyst jobs in New York? For Model Risk Analyst jobs in New York, the most frequently searched job titles are:
What job categories do people searching Model Risk Analyst jobs in New York look for? The top searched job categories for Model Risk Analyst jobs in New York are:
Model Risk Analyst jobs near you
Infographic showing various Model Risk Analyst job openings in New York as of May 2026, with employment types broken down into 86% Full Time, 11% Part Time, 1% Temporary, and 2% Contract. Highlights an 79% Physical, 7% Hybrid, and 14% Remote job distribution, with an average salary of $92,128 per year, or $44.3 per hour.
Model Risk Analyst

Model Risk Analyst

NEW YORK POWER AUTHORITY

White Plains, NY • On-site

$74K - $102.30K/yr

Full-time

Posted 17 days ago

Job description

Summary
Perform quantitative and qualitative analysis on models and assessments of their risks, coordinate with the business units to conduct testing of critical models and document results. Manage the model inventory in the company's governance solution, ensure timely updates of forms and questionnaires, maintain ongoing contact with model owners and reviewers, and oversee adherence to model and other risk policies and procedures. Supports the development of tools and techniques to facilitate ongoing model enhancement for the organization. #LI-CJ1
Responsibilities
  • Perform quantitative and qualitative analysis on model risk and other types of risk inventories to identify underlying relationships and assist in the risk roll-up/alignment process
  • Work with the Enterprise and/or Operational Risk team, NYPA management, and staff to facilitate the Model Risk Management and broader risk management process for risk identification, definition, assessment, analysis, mitigation, and monitoring throughout NYPA
  • Generate risk reports for various levels of the organization including the Executive Risk Management and Resilience Committee (ERRMC)
  • Work with Enterprise and Operational Risk leadership to ensure effective alignment of the enterprise and operational processes with Internal Audit, Internal Business Controls, and Compliance
  • Assist Enterprise and Operational Risk Management team (EORM) in the development of training materials and assist in conducting enterprise and/or operational education/training to various levels of NYPA Business Units management and staff
  • Update, maintain and ensure compliance with NYPA's model and other risk frameworks, policies, procedures, and other associated risk management documentation
  • Provide support on the implementation and on-going operation of the Governance, Risk, and Compliance (GRC) software module specific to the model risk programs
  • Coordinate the resolution of risk software problems with the vendor or the NYPA IT department as needed Perform regular updates to the model risk and other risk repositories and perform risk assessments using reporting tools to ensure integrity of the repository database
  • Create and maintain up-to-date meeting minutes, reports and related materials for the Enterprise and Operational Risk website
  • Work with senior EORM Team members to establish and implement the Enterprise and/or Operational Risk task level schedule to ensure timely delivery of assigned work products

Knowledge, Skills and Abilities
  • Working knowledge of various types of risk including Model, Operational, Asset, Project and Enterprise level risks
  • General knowledge of Enterprise-wide risk management program development and implementation; including best practices, frameworks, and associated software systems
  • General knowledge of Internal Audit and Internal Business Controls practices
  • General understanding of the fundamentals of probabilistic scenario analysis and analysis techniques the associated application to risk management
  • Proficient in spreadsheet and/or statistical analysis packages. Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.
  • Understanding of enterprise risk management best practices as they apply to the energy/utility industry
  • Ability to prepare and deliver clear and concise summaries and insights with assistance from senior specialists and director

Education, Experience and Certifications
  • Bachelor's degree in Business Administration, Finance, Accounting, or Economics
  • A minimum of 2 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is preferred

Physical Requirements
The New York Power Authority is committed to providing fair, competitive, and market-informed compensation. The estimated salary range for this position is: $74,000-$102,300. The salary offered will be determined based on the successful candidates' relevant experience, knowledge, skills, and abilities.
The New York Power Authority and Canal Corporation believes that diversity, equity, and inclusion drive our success, and we encourage women, people of color, LGBTQIA+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents and veterans to apply. As an equal opportunity employer, NYPA/Canals is committed to building inclusive, innovative work environments with employees who reflect communities across New York and enthusiastically serve them. We proudly celebrate diversity and do not discriminate based on race/color, creed/religion, national origin, citizenship or immigration status, age, disability, military status, gender/sex, sexual orientation, gender identity/expression, pregnancy and related conditions, familial/marital status, domestic violence victim status, predisposing genetic characteristics, arrest/criminal conviction record or any other category protected by law.
NYPA/Canals will also provide reasonable accommodations during the hiring process related to candidates' disabilities, pregnancy-related conditions, religious observances/practices and/or domestic violence concerns. To request an accommodation, please email accessibility@nypa.gov.

Apply