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Model Risk Management Jobs (NOW HIRING)

Wintrust

Officer, Model Risk Management

Rosemont, IL

Position Overview The Officer, Model Risk Management will conduct various activities related to enterprise model risk validation and model governance. This individual is accountable for independently ...

Wintrust

Officer, Model Risk Management

Rosemont, IL

Position Overview The Officer, Model Risk Management will conduct various activities related to enterprise model risk validation and model governance. This individual is accountable for independently ...

Associatedbank

Model Risk Manager

Milwaukee, WI · On-site

Responsible for ongoing management, the bank's Model Risk Management Program including continuous enhancements in compliance with applicable regulations and industry practices. The incumbent will be ...

Associatedbank

Model Risk Manager

Omaha, NE · On-site

Responsible for ongoing management, the bank's Model Risk Management Program including continuous enhancements in compliance with applicable regulations and industry practices. The incumbent will be ...

Associatedbank

Model Risk Manager

Chicago, IL · On-site

Responsible for ongoing management, the bank's Model Risk Management Program including continuous enhancements in compliance with applicable regulations and industry practices. The incumbent will be ...

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Model Risk Management information

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$36.5K

$82.3K

$138K

How much do model risk management jobs pay per year?

As of Jun 23, 2026, the average yearly pay for model risk management in the United States is $82,330.00, according to ZipRecruiter salary data. Most workers in this role earn between $62,500.00 and $90,500.00 per year, depending on experience, location, and employer.

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

To excel in Model Risk Management, a professional needs a strong grounding in quantitative finance, statistics, and risk assessment, often backed by advanced degrees in relevant fields. Familiarity with technical tools such as Python, R, SAS, and model validation platforms, along with relevant certifications like FRM or CFA, is highly beneficial. Exceptional communication skills, attention to detail, and critical thinking help individuals stand out when interacting with model developers and risk committees. Mastery of these abilities ensures thorough risk analysis, regulatory compliance, and effective mitigation of financial model risks within the organization.

What are some common challenges faced by professionals in Model Risk Management roles?

Professionals in Model Risk Management commonly encounter challenges such as evolving regulatory requirements, the complexity of advanced financial models, and ensuring effective communication between technical and non-technical stakeholders. Staying current with industry best practices while rigorously validating and documenting models can be demanding but is critical for reducing financial and operational risks. Team members often work cross-functionally, collaborating closely with quants, risk managers, and IT teams to evaluate model performance and implement improvements. Adapting to new analytical tools and maintaining a proactive approach to emerging risks will help you succeed and grow in this dynamic field.

What is a Model Risk Management job?

A Model Risk Management (MRM) job involves identifying, assessing, and mitigating risks associated with financial and analytical models used by an organization. Professionals in this role ensure models are accurate, reliable, and comply with regulatory requirements by conducting validation, testing, and performance monitoring. They work closely with model developers, risk teams, and auditors to manage model lifecycle processes. Strong quantitative, analytical, and regulatory knowledge are key skills for success in this field.

What is the salary of model risk validation?

Model risk validation professionals typically earn between $80,000 and $150,000 annually, depending on experience, location, and the size of the organization. Senior roles or those with specialized skills in statistical modeling and regulatory knowledge can earn higher salaries, often exceeding $180,000. Certifications such as FRM or CFA can also influence compensation in this field.

Is model risk management a good career?

Model risk management is a specialized field focused on identifying and mitigating risks associated with financial and statistical models. It offers opportunities for growth, requires strong analytical skills, and often involves certifications like FRM or CFA. The role is in demand within financial institutions, regulatory agencies, and consulting firms, making it a stable career choice for those interested in risk analysis and quantitative methods.

What do model risk managers do?

Model risk managers are responsible for identifying, assessing, and mitigating risks associated with financial and operational models used within an organization. They review model assumptions, validate model performance, and ensure compliance with regulatory standards, often using specialized tools and techniques. Their work helps prevent model errors from leading to financial loss or regulatory issues.

What is the highest paying risk management job?

In risk management, senior roles such as Chief Risk Officer (CRO) or Director of Risk typically have the highest salaries, often exceeding six figures annually. These positions require extensive experience, advanced certifications like FRM or CFA, and strong leadership skills, especially in financial institutions or large corporations.
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What cities are hiring for Model Risk Management jobs? Cities with the most Model Risk Management job openings:
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Model Risk Management jobs near you
Infographic showing various Model Risk Management job openings in the United States as of June 2026, with employment types broken down into 82% Full Time, 15% Part Time, 1% Temporary, and 2% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $82,330 per year, or $39.6 per hour.

Model Risk Management Analyst

First Hawaiian, Inc.

Honolulu, HI • On-site

$62K - $77K/yr

Full-time

This job post has expired today. Applications are no longer accepted.

First Hawaiian Bank rating

8.0

Company rating: 8.0 out of 10

Based on 14 frontline employees who took The Breakroom Quiz

54th of 141 rated banks

Job description


First Hawaiian Bank is currently seeking a Model Risk Management Analyst to join the team in the Analytics Risk Management department.
Compensation:
The pay range for the role is $62,000 - $77,000/yr; commensurate with experience
Work Schedule:
Monday - Friday 8:00AM - 5:00PM (hours may vary)
Responsibilities
The Model Risk Management Analyst plays a key role in executing and implementing the Bank's Model Risk Management Program. This position is primarily responsible for model governance and monitoring activities, including tracking, coordinating, and reporting model risk activities across the model lifecycle. This role requires close collaboration with stakeholders such as model owners and model developers, as well as effective skills in developing audit-ready reporting and documentation, producing oversight committee materials, and maintaining and customizing the Model Risk Management team's governance system. The Model Risk Management Analyst is detail-oriented, analytical, organized and ethical.
Qualifications
The ideal candidate will have:
  • Bachelor's degree in a quantitative field such as finance, mathematics, economics, statistics, or a related discipline required
  • Master's degree in a quantitative field such as finance, mathematics, economics, statistics, or a related discipline preferred
  • Two years of professional experience in risk management or compliance with demonstrated ability to administer and enhance governance platforms and systems of record, including reporting, dashboarding and workflow management; or one year of professional experience in risk management and one year of experience in system administration, with demonstrated ability to administer and enhance governance platforms and systems of record, including reporting, dashboarding, and workflow management required
  • Understanding of bank products and services, with a continuous focus on improving how they are supported, measured and governed
  • Practical, working knowledge of data science methodologies, statistical concepts and analytical thinking, with the ability to critically evaluate model machine learning performance
  • Familiarity with agentic and generative AI frameworks and tools, with a mindset toward continuous improvement and innovation
  • Strong understanding of risk management, compliance, and/or governance functions, with an eye toward identifying efficiencies and strengthening controls
  • Exposure to model risk management concepts, including model inventory management, validation, monitoring, and issue tracking, with a focus on process improvement and optimization
  • Ability to quickly learn complex systems, including risk management platforms, reporting tools and internal workflows
  • Comfortable working independently while coordinating across business lines, risk teams and technical stakeholders
  • Excellent communication, interpersonal and presentation skills, both written and verbal. Technical writing skills and experience with model documentation are preferred
  • Strong attention to detail with the ability to identify gaps, inconsistencies, and data quality issues
  • Ability to handle confidential information with professionalism and discretion
  • Highly organized, with strong time-management skills and the ability to independently manage multiple governance activities and deadlines simultaneously

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