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Model Risk Analyst Jobs in New York (NOW HIRING)

Fin

Risk Analyst

New York, NY · On-site

$100K - $175K/yr

Create and maintain risk assessment models to evaluate the financial and reputational impact of ... Exceptional analytical and problem-solving skills with a data-driven approach to decision-making.

Fin

Risk Analyst

New York, NY · On-site +1

$100K - $175K/yr

Create and maintain risk assessment models to evaluate the financial and reputational impact of ... Exceptional analytical and problem-solving skills with a data-driven approach to decision-making.

Fin

Risk Analyst

New York, NY · Remote

$100K - $175K/yr

Create and maintain risk assessment models to evaluate the financial and reputational impact of ... Exceptional analytical and problem-solving skills with a data-driven approach to decision-making.

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How much do model risk analyst jobs pay per hour?

As of Aug 23, 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?

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 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 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.

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 does a model risk analyst do?

A model risk analyst evaluates and monitors the risks associated with financial and 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 loss and supports decision-making processes.

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 August 2026, with employment types broken down into 1% As Needed, 82% Full Time, 15% Part Time, and 2% Contract. Highlights an 89% Physical, 4% Hybrid, and 7% Remote job distribution, with an average salary of $92,128 per year, or $44.3 per hour.

Quantitative Model Risk Analyst

Flagstar Bank

Hicksville, NY

$59K - $106K/yr

Full-time

Medical, Dental, Vision, Life

Posted 17 days ago

Flagstar Bank rating

8.1

Company rating: 8.1 out of 10

Based on 52 frontline employees who took The Breakroom Quiz

65th of 171 rated banks

Job description

Position Title

Quantitative Model Risk Analyst

Location

Hicksville, NY 11801

Job Summary

The Quantitative Model Risk Analyst supports the implementation and execution of the Bank-wide model risk management policy. This includes the review of complex models used within the organization, model development documentations, model code, and model performance. The Quantitative Model Risk Analyst prepares written validation reports, makes recommendations, and follows up and tracks ongoing model risk issues.

Job Responsibilities:

JOB RESPONSIBILITIES

  • Performs independent validation of selected models to assess the conceptual soundness of model design and development, ongoing monitoring, and outcomes analysis.
  • Replicates the model code, reviews model development documentation and model inputs, processing, and outputs.
  • Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external.
  • Prepares written model validation reports and provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team.
  • Tracks remediation progress and resolution status for identified model deficiencies.
  • Assists in the development and maintenance of comprehensive reporting on the deficiencies identified, remediation status, and other critical data elements with respect to remediation.
  • Uses independent judgement and discretion to make decisions.
  • Analyzes and resolves problems.


ADDITIONAL ACCOUNTABILITIES

  • Performs special projects, and additional duties and responsibilities as required.
  • Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.


JOB REQUIREMENTS
Required Qualifications:

  • Education level required: Undergraduate Degree (4 years or equivalent) Business, Finance, Risk Analysis or related field.

  • Minimum experience required: 2+ years at a financial institution in risk management and/or model risk management, with a focus on an assigned specialty area such as credit risk rating models, asset liability management, treasury and liquidity models, or AI models.


Preferred Qualifications:

  • Education level preferred: Master's Degree (or Postgraduate equivalent) Business, Finance, Risk Analysis or related field.


Job Competencies:

  • General knowledge of model lifecycle preferably in a bank or regulatory environment.
  • Knowledge of MS Office software including Word, Excel, and PowerPoint, ability to produce charts and graphs in Excel.
  • Strong project management and organization skills.
  • Strong verbal and written communication skills.
  • Strong analytical skills and attention to detail.
  • Ability to multi-task and prioritize work appropriately.
  • Ability to work with all levels of management and staff across all lines of business in the Bank.
  • Ability to work independently and on a team and follow through assignments to completion.
  • Ability to meet established deadlines.
  • Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
  • Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
  • Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
  • Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer


We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information:Benefits | Flagstar Bank

Pay Range

$59,312.25 - $106,858.00

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