DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
DEPARTMENT OVERVIEW The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong ...
Model Risk Analyst
Dallas, TX · On-site
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
Model Risk Analyst
Dallas, TX · On-site
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
Model Risk Analyst
Dallas, TX · Hybrid
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
Model Risk Analyst
Dallas, TX · Hybrid
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
Model Risk Analyst
Dallas, TX · On-site
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
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Model Risk Analyst
Dallas, TX · On-site
Sunflower Bank is seeking a Model Risk Analyst to join its Enterprise Risk Management Department. The Analyst will be responsible for supporting the bank-wide Model Risk Management (MRM) program ...
Risk Management; Business/Technical Analysis; Data; Enterprise Data; Finance Pay Transparency ... As a Model Risk Governance Officer, you'll work across the bank to evaluate models, provide ...
Risk Management; Business/Technical Analysis; Data; Enterprise Data; Finance Pay Transparency ... As a Model Risk Governance Officer, you'll work across the bank to evaluate models, provide ...
Risk Management; Business/Technical Analysis; Data; Enterprise Data; Finance Pay Transparency ... As a Model Risk Governance Officer, you'll work across the bank to evaluate models, provide ...
Risk Management; Business/Technical Analysis; Data; Enterprise Data; Finance Pay Transparency ... As a Model Risk Governance Officer, you'll work across the bank to evaluate models, provide ...
AI Model Risk Validation Specialist
Dallas, TX · Hybrid
$100K - $135K/yr
Model risk management practices * Identify gaps and recommend risk mitigation strategies Governance Integration * Provide independent validation input into AI governance decisions * Support the AIS ...
AI Model Risk Validation Specialist
Dallas, TX · Hybrid
$100K - $135K/yr
Model risk management practices * Identify gaps and recommend risk mitigation strategies Governance Integration * Provide independent validation input into AI governance decisions * Support the AIS ...
Global Financial Crimes, Risk Analytics & Model Governance - AVP
Irving, TX · Hybrid
$90K - $110K/yr
Support the governance and lifecycle management of models/system in scope (e.g., AML TM, sanctions screening, customer risk rating models). Collaborate with regional model owners and model users to ...
Global Financial Crimes, Risk Analytics & Model Governance - AVP
Irving, TX · Hybrid
$90K - $110K/yr
Support the governance and lifecycle management of models/system in scope (e.g., AML TM, sanctions screening, customer risk rating models). Collaborate with regional model owners and model users to ...
Global Financial Crimes, Risk Analytics & Model Governance - AVP
Irving, TX · On-site
$90K - $110K/yr
Support the governance and lifecycle management of models/system in scope (e.g., AML TM, sanctions screening, customer risk rating models). Collaborate with regional model owners and model users to ...
Global Financial Crimes, Risk Analytics & Model Governance - AVP
Irving, TX · On-site
$90K - $110K/yr
Support the governance and lifecycle management of models/system in scope (e.g., AML TM, sanctions screening, customer risk rating models). Collaborate with regional model owners and model users to ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Directs the oversight of model risk through model documentation review, assessment of performance ... Bachelor's degree in Risk Management, Business, Finance, or related field; OR 4 years of relevant ...
Directs the oversight of model risk through model documentation review, assessment of performance ... Bachelor's degree in Risk Management, Business, Finance, or related field; OR 4 years of relevant ...
Model Governance Manager
Plano, TX · On-site
$58.35/hr
Incorporate Model Risk Management requirements into GTMG procedures, controls, and oversight. Participate in governance forums to monitor inventory health and developer activities. Drive self ...
Model Governance Manager
Plano, TX · On-site
$58.35/hr
Incorporate Model Risk Management requirements into GTMG procedures, controls, and oversight. Participate in governance forums to monitor inventory health and developer activities. Drive self ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Knowledge of Credit Risk Management Processes, Risk Appetite Setting, Credit Strategy Change review and approval, Loss Forecasting, Credit Portfolio Management, Credit Modeling and Model Risk ...
Director, Operational Risk Management
Houston, TX · On-site +1
This role is responsible for executing and overseeing key Operational Risk programs across the organization, including Issue Management, New Products and Initiatives, and Model Risk, while ensuring ...
Director, Operational Risk Management
Houston, TX · On-site +1
This role is responsible for executing and overseeing key Operational Risk programs across the organization, including Issue Management, New Products and Initiatives, and Model Risk, while ensuring ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong ... In this role, you will work directly with the model developers and reviewers, as well as ...
Model Risk Management information
See Texas salary details
$34K - $42.6K
4% of jobs
$42.6K - $51.2K
13% of jobs
$57.5K is the 25th percentile. Wages below this are outliers.
$51.2K - $59.8K
11% of jobs
$59.8K - $68.4K
16% of jobs
The median wage is $70.5K / yr.
$68.4K - $77K
25% of jobs
$81.3K is the 75th percentile. Wages above this are outliers.
$77K - $85.6K
13% of jobs
$85.6K - $94.2K
8% of jobs
$94.2K - $102.8K
3% of jobs
$102.8K - $111.4K
1% of jobs
$111.4K - $120K
1% of jobs
$120K - $128.6K
5% of jobs
$34K
$76.7K
$128.6K
How much do model risk management jobs pay per year?
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.
Full-time
Re-posted 18 days ago
Goldman Sachs rating
8.2
Based on 26 frontline employees who took The Breakroom Quiz
44th of 148 rated banks
Job description
DEPARTMENT OVERVIEW
The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Birmingham, Warsaw, Hong Kong, Bangalore, and Hyderabad. The MRM group is responsible for independent oversight of Model Risk at the firm, ensuring compliance with Model Control Policy and related requirements, including documentation to evidence effective challenge over the Model development, implementation and usage of Models.
The group's primary mandate is to manage risk that arises from models used in the firm through its range of businesses- from models used for derivatives valuation to models used for risk management, liquidity and capital computations. In addition to independently reviewing these classes of models for their validity, theoretical consistency and implementation accuracy, the group is also responsible to assess the risk associated with model choice, e.g., exposure to choice of model in various contexts such as pricing exotic options or in calculating capital. As AI adoption increases across the firm, the MRM group plays a critical role in ensuring that innovative AI capabilities are deployed safely.
JOB RESPONSIBILITIES
- Play a central role in shaping firmwide AI risk management oversight and governance through:
- Management of the AI oversight committee including agenda-setting, materials, and executive-level decision support
- Managing the AI risk assessment and approval activities across control functions, working closely with the business and engineers to guide them through the approval process
- Owning the firmwide view of AI usage, enabling senior leadership to understand risk posture, trends, and emerging concentrations including through management of the firmwide AI inventory, and tracking and reporting on committee activities, approvals, and follow-ups
- Design, maintain, and evolve the firmwide AI governance framework, liaising with other business units such as Legal, Compliance, and Engineering to translate regulatory expectations and emerging industry standards into practical, scalable controls
- Liaise with technology teams to design scalable infrastructure for AI inventory management and AI risk assessment and approval workflows
- Manage and coordinate engagement with regulators, helping shape external understanding of the firm's risk management approach
QUALIFICATIONS
- 3 plus years of experience, preferably in Financial Services and with working knowledge of AI
- Excellent project management and communication skills, with ability to work and communicate effectively with a wide variety of technical and non-technical stakeholders across various seniority levels
- Excellent analytical, quantitative, interpersonal and organizational skills. Team oriented and able to pick up technical concepts quickly
- Comfort operating in areas of evolving regulation and limited precedent, with the ability to exercise sound judgment
- Programming skills preferred (e.g., Python)
ABOUT GOLDMAN SACHS
At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.
We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.
We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html
© The Goldman Sachs Group, Inc., 2023. All rights reserved.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.
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About Goldman Sachs
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At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world. We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs.
Industry
Finance and insurance
Company size
10,000+ Employees
Headquarters location
New York, NY, US
Year founded
1869