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Model Risk Governance Jobs in Illinois (NOW HIRING)

Brookfield

Risk Analyst

Chicago, IL

Support governance activities, including preparation of materials and documentation for risk ... Exposure to SOX, Model Risk Management (SR 11-7), AI Risk Management (NIST AI RMF), or IT GRC ...

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 ...

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 ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL

$137K - $233K/yr

Define and enforce model governance standards (documentation, approvals, controls) * Ensure ... Provide risk dashboards and reporting to leadership 🔹 AI Risk & Audit Partnership * Act as ...

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 ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

Define and enforce model governance standards (documentation, approvals, controls) * Ensure ... Provide risk dashboards and reporting to leadership 🔹 AI Risk & Audit Partnership * Act as ...

Northern Trust

AI Risk & Controls Lead

Chicago, IL · On-site

$137K - $233K/yr

Define and enforce model governance standards (documentation, approvals, controls) * Ensure ... Provide risk dashboards and reporting to leadership AI Risk & Audit Partnership * Act as primary ...

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 information

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How much do model risk governance jobs pay per hour?

As of Jul 13, 2026, the average hourly pay for model risk governance in Illinois is $44.30, according to ZipRecruiter salary data. Most workers in this role earn between $14.42 and $69.90 per hour, depending on experience, location, and employer.

What are some typical challenges faced in a Model Risk Governance role?

Professionals in Model Risk Governance often encounter challenges such as keeping up with evolving regulatory requirements, ensuring comprehensive documentation for models, and maintaining effective communication between technical modelers and business stakeholders. Balancing rigorous model validations with tight project timelines can also be demanding, especially when coordinating input from various teams. Overcoming these hurdles requires a proactive approach to learning, strong organizational skills, and the ability to translate complex quantitative issues into actionable insights for decision-makers. These challenges make the work dynamic and offer significant opportunities to influence critical risk management processes within the organization.

What is a Model Risk Governance job?

A Model Risk Governance job involves overseeing the policies, procedures, and frameworks used to manage model risk within an organization. Professionals in this role ensure that models used for decision-making in areas like finance, risk management, and compliance are properly validated, monitored, and updated. They work closely with model developers, risk managers, and regulators to enforce governance standards and mitigate potential risks. Key responsibilities include establishing model validation processes, conducting risk assessments, and ensuring compliance with regulatory requirements.

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

To excel in Model Risk Governance, you typically need a strong background in quantitative finance, statistics, or a related field, often with advanced degrees such as a master's or Ph.D., and experience in risk management. Familiarity with model validation tools, programming languages like Python or R, and regulatory frameworks such as SR 11-7 or Basel guidelines is highly valued. Strong analytical thinking, communication skills, and the ability to manage multiple stakeholders are key soft skills for this position. These competencies ensure effective oversight of model risk, facilitate regulatory compliance, and enable clear communication of complex technical issues to non-technical stakeholders.

What are the most commonly searched types of Model Risk Governance jobs in Illinois? The most popular types of Model Risk Governance jobs in Illinois are:
What are popular job titles related to Model Risk Governance jobs in Illinois? For Model Risk Governance jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Model Risk Governance jobs in Illinois look for? The top searched job categories for Model Risk Governance jobs in Illinois are:
Model Risk Governance jobs near you
Technology Risk Advisory - AI Risk Senior Associate

Technology Risk Advisory - AI Risk Senior Associate

RSM Global

Chicago, IL • On-site

Full-time

Posted 2 days ago

Job description

We are the leading provider of professional services to the middle market globally, our purpose is to instill confidence in a world of change, empowering our clients and people to realize their full potential. Our exceptional people are the key to our unrivaled, culture and talent experience and our ability to be compelling to our clients. You'll find an environment that inspires and empowers you to thrive both personally and professionally. There's no one like you and that's why there's nowhere like RSM.
Role Overview
The Technology Risk Advisory - AI Risk Senior Associate will play a key role in helping clients strengthen their technology, AI, and cybersecurity risk capabilities. You'll support the design, assessment, and governance of AI and GenAI systems, evaluate cloud and data controls, and contribute to emerging risk frameworks that keep pace with rapid innovation.
This role blends hands-on technical exposure with structured risk thinking-ideal for someone who can navigate both model development concepts and regulatory expectations.
Key Responsibilities
  • AI/ML Risk Assessments - Support and execute risk and compliance assessments for AI/ML and GenAI systems, including model lifecycle controls, data governance, and responsible AI considerations.
  • Technology & Cloud Compliance - Evaluate IT, cloud, and data environment controls (IAM, encryption, logging, monitoring, network segmentation).
  • Model Governance Support - Contribute to model documentation, testing artifacts, lineage tracking, and change management for AI systems.
  • Emerging Technology Risk - Support assessments related to GenAI, automation, cloud-native architectures, and digital transformation initiatives.
  • Software & Data Engineering Fundamentals - Apply understanding of APIs, data pipelines, testing, and version control to evaluate technical risk.
  • Cross-Functional Collaboration - Work with engineering, data science, cybersecurity, model risk, and audit teams across the 1st and 2nd lines of defense.
  • Client Delivery - Support workplans, manage assigned tasks, gather requirements, and contribute to high-quality client deliverables.
  • Risk Translation - Translate technical design elements (data flows, model behavior, system architecture) into clear risk considerations.
  • Communication & Reporting - Prepare documentation, assessment outputs, and stakeholder-ready reporting that simplifies complex AI and technology concepts.

Required Experience & Qualifications
  • Bachelor's or Master's degree in Computer Science, Engineering, Data Science, Information Systems, Risk, or related field.
  • 2-5 years supporting delivery of technology solutions, with exposure to AI/ML or GenAI and experience in risk, compliance, audit, or regulated environments.
  • Working knowledge of modern ML/GenAI stacks (Python, model development frameworks, embeddings, RAG concepts).
  • Hands-on contribution to model development, evaluation, or implementation.
  • Experience assessing or implementing AI systems on cloud platforms (IAM, encryption, data governance, environment controls).
  • Solid understanding of software engineering fundamentals: APIs, data pipelines, testing, version control, CI/CD exposure.
  • Ability to translate technical design into risk and control implications with guidance.
  • Experience supporting AI governance and model risk documentation.
  • Strong analytical and problem-solving skills with the ability to structure ambiguous problems.
  • Consulting fundamentals: requirement gathering, task management, coordination across teams.
  • Effective communicator able to translate technical concepts into clear business and risk language.

Preferred Qualifications
  • Certifications such as AAIA, AAISM, AIGP, CISA, CISSP, CCSP, CRISC, or AI-focused credentials.
  • Experience with AI risk frameworks, responsible AI principles, or cloud compliance programs.

At RSM, we offer a competitive benefits and compensation package for all our people. We offer flexibility in your schedule, empowering you to balance life's demands, while also maintaining your ability to serve clients. Learn more about our total rewards at https://rsmus.com/careers/working-at-rsm/benefits.
All applicants will receive consideration for employment as RSM does not tolerate discrimination and/or harassment based on race; color; creed; sincerely held religious beliefs, practices or observances; sex (including pregnancy or disabilities related to nursing); gender; sexual orientation; HIV Status; national origin; ancestry; familial or marital status; age; physical or mental disability; citizenship; political affiliation; medical condition (including family and medical leave); domestic violence victim status; past, current or prospective service in the US uniformed service; US Military/Veteran status; pre-disposing genetic characteristics or any other characteristic protected under applicable federal, state or local law.
Accommodation for applicants with disabilities is available upon request in connection with the recruitment process and/or employment/partnership. RSM is committed to providing equal opportunity and reasonable accommodation for people with disabilities. If you require a reasonable accommodation to complete an application, interview, or otherwise participate in the recruiting process, please call us at 800-274-3978 or send us an email at careers@rsmus.com.
RSM does not intend to hire entry level candidates who will require sponsorship now OR in the future (i.e. F-1 visa holders). If you are a recent U.S. college / university graduate possessing 1-2 years of progressive and relevant work experience in a same or similar role to the one for which you are applying, excluding internships, you may be eligible for hire as an experienced associate.
RSM will consider for employment qualified applicants with arrest or conviction records. For those living in California or applying to a position in California, please click here for additional information.
At RSM, an employee's pay at any point in their career is intended to reflect their experiences, performance, and skills for their current role. The salary range (or starting rate for interns and associates) for this role represents numerous factors considered in the hiring decisions including, but not limited to, education, skills, work experience, certifications, location, etc. As such, pay for the successful candidate(s) could fall anywhere within the stated range.
Compensation Range: $77,700 - $146,900
Individuals selected for this role will be eligible for a discretionary bonus based on firm and individual performance.
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About RSM International

Sourced by ZipRecruiter

RSM International is a leading global network of audit, tax, and consulting firms. Headquartered in Chicago, Illinois, US, the firm focuses on providing an exceptional range of professional services to empower clients to move forward with confidence. RSM International was established in 1964 and has since grown to encompass firms in more than 120 countries. The firm's mission is guided by a deep understanding of what clients need to help drive their businesses forward, combined with the international reach of RSM firms worldwide.

Industry

Business management consulting

Company size

10,000+ Employees

Headquarters location

Chicago, IL, US

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