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Model Risk Management Jobs in Pennsylvania (NOW HIRING)

Customers Bank

Model Risk Management Intern

Malvern, PA · On-site

$14.75 - $19.75/hr

Build meaningful relationships across the bank through networking and team activities What you'll do - Model Risk Management: In addition to participating in the broader internship program, you'll ...

Customers Bank

Model Risk Management Intern

Malvern, PA · On-site

$14.75 - $19.75/hr

Build meaningful relationships across the bank through networking and team activities What you'll do - Model Risk Management: In addition to participating in the broader internship program, you'll ...

Vangard, Inc.

Model Validator

Malvern, PA · On-site

The Model Risk Management (MRM) Team, part of Vanguard's second line of defense, is seeking an experienced model risk professional to support independent oversight of quantitative models used across ...

STV

Risk Management Specialist

Philadelphia, PA

$86.46K - $98.82K/yr

Perform cost and schedule uncertainty modeling, including Monte Carlo simulations, to evaluate ... Establish standardized risk management processes and frameworks to protect client interests

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Model Risk Management information

See Pennsylvania salary details

$36.6K

$82.5K

$138.3K

How much do model risk management jobs pay per year?

As of May 31, 2026, the average yearly pay for model risk management in Pennsylvania is $82,527.00, according to ZipRecruiter salary data. Most workers in this role earn between $62,600.00 and $90,700.00 per year, depending on experience, location, and employer.

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 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.
More about Model Risk Management jobs
What are the most commonly searched types of Model Risk Management jobs in Pennsylvania? The most popular types of Model Risk Management jobs in Pennsylvania are:
What are popular job titles related to Model Risk Management jobs in Pennsylvania? For Model Risk Management jobs in Pennsylvania, the most frequently searched job titles are:
What job categories do people searching Model Risk Management jobs in Pennsylvania look for? The top searched job categories for Model Risk Management jobs in Pennsylvania are:
Model Risk Management jobs near you
Infographic showing various Model Risk Management job openings in Pennsylvania as of May 2026, with employment types broken down into 95% Full Time, and 5% Contract. Highlights an 85% In-person, 10% Hybrid, and 5% Remote job distribution, with an average salary of $82,527 per year, or $39.7 per hour.
Head of Governance - Model Risk Management

Head of Governance - Model Risk Management

Vanguard Group, Inc.

Malvern, PA • On-site

Full-time

This job post has expired 1 day ago. Applications are no longer accepted.

Vanguard rating

8.7

Company rating: 8.7 out of 10

Based on 60 frontline employees who took The Breakroom Quiz

14th of 138 rated financial services

Job description

Overview:
We're seeking a strategic and forward-thinking Head of Governance - Model Risk Management to shape and lead an enterprise-wide model risk framework in an environment where models, data, and AI are rapidly evolving. This leader will ensure models across the organization are transparent, well-governed, and aligned with global regulatory expectations-driving defensible practices, strong oversight, and meaningful risk insight for senior leadership and regulators.
If you are passionate about elevating governance, influencing enterprise decision-making, and building a culture of accountability and risk excellence, this is a high-impact opportunity to lead the future of model and AI governance.
Responsibilities:
Framework Leadership
  • Lead the development, adoption and maintenance of the model risk framework, including policies, standards, business processes, and controls.
  • Monitor industry trends to ensure the model risk framework remains effective and efficient in managing evolving risks.
  • Partner with leaders across Vanguard to ensure model risk practices are well integrated with Enterprise, Data, Technology, Operational, and AI risk frameworks.

Committees and Senior Management Engagement
  • Support the Model Risk committee and oversee establishment of supporting Divisional Model Risk Governance forums.
  • Prepare executive-level materials for Risk Committees, Audit Committees and the Board.
  • Provide meaningful insights on model risk themes, emerging issues and model performance trends.
  • Establish robust processes for challenge, escalation and dispute resolution.

Regulatory, Audit and Compliance
  • Serve as liaison for model risk with internal (audit) and external (regulatory) stakeholders.
  • Ensure timely remediation of regulatory and audit findings.
  • Stay current on evolving global regulations, execute gap assessments and drive remediation efforts to ensure on-going compliance.

Model Inventory and Risk Appetite
  • Direct cross-functional processes such as enterprise-wide model inventory attestation to support completeness and accuracy.
  • Support development and reporting of the model risk appetite and associated Key Risk Indicators.

Technology, Data and Processes
  • Partner with the technology product owner to define requirements for model life cycle platforms.
  • Ensure governance processes are automated, scalable and executed to high data quality standards.

Leadership and Stakeholder Management
  • Lead the team of governance professionals.
  • Partner closely with the broader model risk community and connecting stakeholders (Developers, Owners, Validators, IT, Audit, AI and Enterprise Risk).
  • Promote a culture of transparency, accountability and the risk mindset.

Qualifications:
  • Advanced degree in a technical field (e.g., math, statistics, computer science).
  • At least eight years of relevant experience, including four years developing enterprise-wide policies, standards and protocols in model risk, AI or a related discipline.
  • Deep knowledge of model risk frameworks (SR11-7, SS1/23); experience with AI frameworks and the EU AI Act preferred.
  • Ability to drive enterprise-wide change and managing complex stakeholder environments.
  • Strong analytical, problem-solving and decision-making capabilities.
  • Exceptional communication and executive-presence skills with proven experience presenting to senior committees and managing executive-level stakeholders.

Special Factors
Sponsorship
Vanguard is offering visa sponsorship for this position.
About Vanguard
At Vanguard, we don't just have a mission-we're on a mission.
To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.

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