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Model Risk Governance Manager Jobs in Illinois (NOW HIRING)

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

AI governance / AI audit / model risk management * Control design and operationalisation (1LOD ... AI model lifecycle & documentation practices * Experience with: * Model inventories, usage tracking ...

PayPal

Sr Machine Learning Engineer

Chicago, IL

$57.50 - $76/hr

Familiarity with model governance, model risk management, or AI regulatory compliance frameworks (e.g., SR 11-7, OCC 2011-12, EU AI Act) is a plus. Subsidiary: PayPal Travel Percent: 0 - The base pay ...

PayPal, Inc.

Sr Machine Learning Engineer

Chicago, IL · On-site

$57.50 - $76/hr

Familiarity with model governance, model risk management, or AI regulatory compliance frameworks (e.g., SR 11-7, OCC 2011-12, EU AI Act) is a plus. Subsidiary: PayPal Travel Percent: 0 The base pay ...

Old National Bank

IST Risk Manager

Chicago, IL · On-site

$199K/yr

Governance, Risk & Compliance (GRC) - Information Security and Technology Risk Management Framework Ownership * Support the development, enhancement, and ongoing maintenance of the enterprise ...

US Bank

Quantitative Model Analyst 3 - AML

Chicago, IL · On-site

... governance of AML Transaction Monitoring models. The individual will partner closely with model owners, Model Risk Management, internal and external auditors, and senior leadership to evaluate model ...

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Model Risk Governance Manager information

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

AspectModel Risk Governance ManagerModel Risk Analyst
Primary FocusOversees model risk policies, governance frameworks, and compliancePerforms detailed model validation, testing, and analysis
ResponsibilitiesDevelops risk management strategies, monitors model risk, ensures regulatory adherenceConducts model performance assessments, documentation, and validation activities
Required CredentialsAdvanced degrees in finance, statistics, or related fields; certifications like FRM or CFA often preferredSimilar credentials; often holds certifications like FRM or CFA
Work EnvironmentStrategic, governance-focused teams within financial institutionsAnalytical teams performing technical validation tasks

The Model Risk Governance Manager focuses on overseeing model risk frameworks and ensuring compliance, while the Model Risk Analyst conducts detailed model validation and testing. Both roles require similar credentials and work within the financial industry, but their responsibilities differ in scope and focus.

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Model Risk Governance Manager jobs near you
AI Operational Risk Management Sr. Lead

AI Operational Risk Management Sr. Lead

Sidley Austin LLP

Chicago, IL • On-site

$170K - $200K/yr

Full-time

Posted 14 days ago

Job description

The AI Risk Management Senior Lead is a senior, cross-functional role responsible for owning the firm's AI governance framework, leading the AI Risk Center of Excellence (COE), and ensuring that all AI platforms, tools, and agents in use across the firm are adopted and managed in a safe, ethical, and policy-compliant manner. The ideal candidate brings deep risk management expertise, working knowledge of AI and model governance, and the ability to partner effectively with Legal, Compliance, IT Security, and business stakeholders. Experience in the legal industry is strongly preferred.
Duties and Responsibilities:
  • Own and maintain the tool specific AI governance framework, acceptable use policy (AUP).
  • Serve as coordinator of the AI Risk Center of Excellence (COE), convening Legal, Compliance, IT Security, Data & AI, and business representatives.
  • Lead the distributed AI tool governance pipeline, overseeing the appropriate use of locally developed AI prototypes through intake/prioritization process for full application development
  • Support the assessment new AI capabilities and platform updates released by vendors and determine whether governance controls require adjustment prior to enabling.
  • Review Outside Counsel Guidelines questionnaires and contracts for adherence to our AI policy and expectations.
  • Design and oversee the firm-wide AI training curriculum, including AI literacy assessments, acceptable use acknowledgments, and role-specific guidance for lawyers, partners, and office staff.
  • Collaborate with IT Security to ensure that SSO provisioning, endpoint controls, Netskope DLP policies, and network-layer governance for AI platforms remain current and effective.
  • Maintain the department's AI & data risk register; track, escalate, and resolve AI-related risks across all active tools, agents, and Claude instances.
  • Communicate AI policy changes, risk updates, and governance decisions to department heads, practice group leaders, and firm leadership on a regular cadence.
  • Develop creative solutions and improvements to governance processes, policies, and controls to enhance the safety, fairness, and effectiveness of AI use across the firm.

Education and/or Experience:
Required:
  • Bachelor's degree in a related field
  • Minimum of 5 years of risk management, compliance, or governance experience
  • Demonstrated experience with AI governance or model risk management
  • Familiarity with AI platforms including large language models and enterprise AI deployment
  • Experience developing or administering policies, acceptable use frameworks, or risk assessment processes

Preferred:
  • Master's Degree in a related field
  • Juris Doctor degree
  • Risk management or AI governance certification
  • Experience in the legal industry or at a professional services firm
  • Experience working with legal stakeholders or in legal technology

Other Skills and Abilities:
The following will also be required of the successful candidate:
  • Strong organizational skills
  • Strong attention to detail
  • Good judgment
  • Strong interpersonal communication skills
  • Strong analytical and problem-solving skills
  • Able to work harmoniously and effectively with others
  • Able to preserve confidentiality and exercise discretion
  • Able to work under pressure
  • Able to manage multiple projects with competing deadlines and priorities

#LI-OE1
#LI-Hybrid
Applicants must be authorized to work in the United States without the need for employer sponsorship, now or in the future
The target salary range for this role is:
$170,000 - $200,000 if located in Illinois.
Salaries vary by location and are based on numerous factors, including, but not limited to, the relevant market, skills, experience, and education of the selected candidate. Our compensation package also includes bonus eligibility and a comprehensive benefits program. Benefits information can be found at Sidley.com/Benefits.
To perform this job successfully, an individual must be able to perform the Duties and Responsibilities above satisfactorily and meet the requirements. The requirements listed above are representative of the minimum knowledge, skill, and/or ability required. Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of the job. If you need such an accommodation, please email sidleytalentacquisition@sidley.com (current employees should contact Human Resources).
Sidley Austin LLP is an Equal Opportunity Employer.

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