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Model Risk Management Jobs in Minnesota (NOW HIRING)

Beacon Mobility

Risk Manager

Maple Grove, MN · On-site

$150K/yr

... model insurance Required Education and Experience: - Bachelors degree in Risk Management, Finance, Accounting, or related field desired. - 7+ years of experience in risk management, security ...

Papco

Price Risk Manager

Minnetonka, MN · Remote

You will design risk management strategies, guide client decisions, and influence how the ... Strong analytical and financial modeling capability * Ability to translate complex market data into ...

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Model Risk Management information

See Minnesota salary details

$35.7K

$80.6K

$135.2K

How much do model risk management jobs pay per year?

As of Jun 18, 2026, the average yearly pay for model risk management in Minnesota is $80,635.00, according to ZipRecruiter salary data. Most workers in this role earn between $61,200.00 and $88,600.00 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.
What are the most commonly searched types of Model Risk Management jobs in Minnesota? The most popular types of Model Risk Management jobs in Minnesota are:
What are popular job titles related to Model Risk Management jobs in Minnesota? For Model Risk Management jobs in Minnesota, the most frequently searched job titles are:
What job categories do people searching Model Risk Management jobs in Minnesota look for? The top searched job categories for Model Risk Management jobs in Minnesota are:
What cities in Minnesota are hiring for Model Risk Management jobs? Cities in Minnesota with the most Model Risk Management job openings:
Model Risk Management jobs near you
Infographic showing various Model Risk Management job openings in Minnesota as of June 2026, with employment types broken down into 82% Full Time, 15% Part Time, 1% Temporary, and 2% Contract. Highlights an 91% Physical, 2% Hybrid, and 7% Remote job distribution, with an average salary of $80,635 per year, or $38.8 per hour.
Model Validation Manager - Wholesale and Small Business Credit Loss

Model Validation Manager - Wholesale and Small Business Credit Loss

US Bank

Minneapolis, MN • On-site

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 19 days ago

U.S. Bank rating

8.2

Company rating: 8.2 out of 10

Based on 345 frontline employees who took The Breakroom Quiz

38th of 141 rated banks

Job description

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for our Wholesale and Small Business Credit Loss Forecasting models. This role reports to the Director of Credit, Compliance, and Financial Crimes Model Validation within Model Risk Management, part of the Bank's Risk Management and Compliance organization.

This highly visible leadership position operates at the intersection of credit risk, capital planning, and regulatory oversight, partnering closely with senior and executive stakeholders across the Bank. You will lead and develop a team responsible for validating and overseeing a large, complex inventory of CCAR and CECL credit loss forecasting models across commercial portfolios. These models are foundational to enterprise credit risk assessment, loss forecasting, reserving, and capital planning-offering a unique opportunity to deliver highimpact insights through rigorous analysis, clear documentation, and strong stakeholder engagement.

Key Responsibilities

  • Lead and develop a highperforming analytics team responsible for independent validation of the Bank's wholesale and small business portfolio credit loss forecasting models supporting CCAR stress testing and CECL requirements.
  • Oversee endtoend model validation activities, including preimplementation validations, periodic reviews, and ongoing monitoring, providing effective challenge to model design, methodology, data, processes, and performance.
  • Ensure rigorous execution of validation analyses and drive continuous enhancement of validation standards and processes.
  • Review and approve validation deliverables to ensure conclusions are wellsupported, clearly documented, and communicated effectively to stakeholders with varying levels of technical expertise.
  • Identify model risks and findings, drive corrective actions, and ensure timely remediation in alignment with Model Risk Management program requirements.
  • Manage validation execution against plan, including resource allocation, coaching, prioritization, and quality control across the validation portfolio.
  • Engage and partner with business stakeholders throughout validation and remediation efforts, fostering strong relationships while maintaining independent and credible challenge.
  • Manage internal audits and regulatory examinations, serving as a key point of contact for regulators, auditors, and senior stakeholders to clearly articulate validation analyses, findings, and conclusions, and effectively address supervisory feedback.

Basic Qualifications

  • Bachelor's degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience.
  • Five or more years of experience leading a quantitative modeling team.

Preferred Skills/Experience

  • Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical packages.
  • Advanced data compilation, programming skills and qualitative analysis skills.
  • Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches.
  • Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
  • In depth knowledge of Bank products and services.
  • Demonstrated independence, teamwork and leadership skills.
  • Strong analytical, organizational, problem-solving, negotiation, and project management skills.
  • Excellent interpersonal, verbal and written communication skills.

Location Requirements
This role requires working from a U.S. Bank location three (3) or more days per week.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to ourdisability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

  • Healthcare (medical, dental, vision)

  • Basic term and optional term life insurance

  • Short-term and long-term disability

  • Pregnancy disability and parental leave

  • 401(k) and employer-funded retirement plan

  • Paid vacation (from two to five weeks depending on salary grade and tenure)

  • Up to 11 paid holiday opportunities

  • Adoption assistance

  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about theE-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $170,255.00 - $200,300.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

What U.S. Bank employees say

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About U.S. Bank

Sourced by ZipRecruiter

U.S. Bank is a reputable and established financial institution that plays a significant role in the banking sector. With a history spanning over 150 years, U.S. Bank has built a strong foundation of trust and reliability. As a comprehensive bank, they offer a wide array of financial products and services to cater to the diverse needs of their customers, including individuals, businesses, and communities. Customer satisfaction is of utmost importance to U.S. Bank. They prioritize delivering exceptional service and fostering long-term relationships with their clients. Through their extensive network of branches and advanced digital banking platforms, U.S. Bank ensures convenient access to their services, empowering customers to manage their finances efficiently and securely.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

Year founded

1863

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