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Model Risk Management Jobs in Virginia (NOW HIRING)

Truist

Sr. Audit Manager - Quant

Richmond, VA

The SQAM further assists in line of business relationship management, risk monitoring, and professional development of the full Model Risk audit team. ESSENTIAL DUTIES AND RESPONSIBILITIES Following ...

Truist

Quant Audit Manager

Richmond, VA · On-site

$102K - $135K/yr

Recommending improvements to model risk management systems and processes. b. Being knowledgeable of the organization, operations, policies, and procedures related to the use and management of models ...

Booz Allen Hamilton

Risk Management Lead

Arlington, VA

$69K - $158K/yr

Risk Management Lead The Opportunity: Emerging threats, shifting mission demands, and a rapidly ... Work Model Our people-first culture prioritizes the benefits of collaboration, whether it occurs in ...

Booz Allen Hamilton

Risk Management Lead

Alexandria, VA · On-site

$69K - $158K/yr

Risk Management Lead The Opportunity: Emerging threats, shifting mission demands, and a rapidly ... Work Model Our people-first culture prioritizes the benefits of collaboration, whether it occurs in ...

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Model Risk Management information

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$36.2K

$81.6K

$136.8K

How much do model risk management jobs pay per year?

As of Jun 18, 2026, the average yearly pay for model risk management in Virginia is $81,624.00, according to ZipRecruiter salary data. Most workers in this role earn between $62,000.00 and $89,700.00 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 Virginia? The most popular types of Model Risk Management jobs in Virginia are:
What are popular job titles related to Model Risk Management jobs in Virginia? For Model Risk Management jobs in Virginia, the most frequently searched job titles are:
What job categories do people searching Model Risk Management jobs in Virginia look for? The top searched job categories for Model Risk Management jobs in Virginia are:
What cities in Virginia are hiring for Model Risk Management jobs? Cities in Virginia with the most Model Risk Management job openings:
Model Risk Management jobs near you
Principal Associate, Data Scientist - Model Risk Office

Principal Associate, Data Scientist - Model Risk Office

Capital One

Mclean, VA • On-site

$59K - $60K/yr

Full-time

Posted 28 days ago

Capital One rating

7.7

Company rating: 7.7 out of 10

Based on 135 frontline employees who took The Breakroom Quiz

73rd of 141 rated banks

Job description

Principal Associate, Data Scientist - Model Risk Office
Data is at the center of everything we do. As a startup, we disrupted the credit card industry by individually personalizing every credit card offer using statistical modeling and the relational database, cutting edge technology in 1988! Fast-forward a few years, and this little innovation and our passion for data has skyrocketed us to a Fortune 200 company and a leader in the world of data-driven decision-making.
As a Data Scientist at Capital One, you'll be part of a team that's leading the next wave of disruption at a whole new scale, using the latest in computing and machine learning technologies and operating across billions of customer records to unlock the big opportunities that help everyday people save money, time and agony in their financial lives.
Team Description
In Capital One's Model Risk Office, we defend the company against model failures and find new ways of making better decisions with models. We use our statistics, software engineering, and business expertise to drive the best outcomes in both Risk Management and the Enterprise. We understand that we can't prepare for tomorrow by focusing on today, so we invest in the future: investing in new skills, building better tools, and maintaining a network of trusted partners. We learn from past mistakes, and develop increasingly powerful techniques to avoid their repetition.
The successful candidate will specifically support the Card Fraud Model Risk team, which is responsible for evaluating the model risk associated with the Card Fraud models utilized across the entire customer lifecycle. This includes models deployed during the application, transaction, and payment stages, addressing both first-party and third-party fraud use cases. The team executes effective challenges through the rigorous assessment of developed fraud models and the construction of independent challenger models.
Role Description
In this role, you will:
  • Partner with a cross-functional team of data scientists, software engineers, and product managers to deliver a product customers love
  • Leverage a broad stack of technologies - Python, Conda, AWS, H2O, Spark, and more - to reveal the insights hidden within huge volumes of numeric and textual data
  • Build machine learning models through all phases of development, from design through training, evaluation, validation, and implementation
  • Flex your interpersonal skills to translate the complexity of your work into tangible business goals

The Ideal Candidate is:
  • Creative. You thrive on bringing definition to big, undefined problems. You love asking questions and pushing hard to find answers. You're not afraid to share a new idea.
  • Technical. You're comfortable with open-source languages and are passionate about developing further. You have hands-on experience developing data science solutions using open-source tools and cloud computing platforms.
  • Statistically-minded. You've built models, validated them, and backtested them. You know how to interpret a confusion matrix or a ROC curve. You have experience with clustering, classification, sentiment analysis, time series, and deep learning.
  • A data guru. "Big data" doesn't faze you. You have the skills to retrieve, combine, and analyze data from a variety of sources and structures. You know understanding the data is often the key to great data science.

Basic Qualifications:
  • Currently has, or is in the process of obtaining one of the following with an expectation that the required degree will be obtained on or before the scheduled start date:
    • A Bachelor's Degree in a quantitative field (Statistics, Economics, Operations Research, Analytics, Mathematics, Computer Science, or a related quantitative field) plus 5 years of experience performing data analytics
    • A Master's Degree in a quantitative field (Statistics, Economics, Operations Research, Analytics, Mathematics, Computer Science, or a related quantitative field) or an MBA with a quantitative concentration plus 3 years of experience performing data analytics
    • A PhD in a quantitative field (Statistics, Economics, Operations Research, Analytics, Mathematics, Computer Science, or a related quantitative field)

Preferred Qualifications:
  • Master's Degree in "STEM" field (Science, Technology, Engineering, or Mathematics) plus 3 years of experience in data analytics, or PhD in "STEM" field (Science, Technology, Engineering, or Mathematics)
  • At least 3 years' experience in Python, Scala or R. Experience with PySpark
  • At least 3 years' experience with SQL
  • At least 3 years' experience with Machine Learning model development and deployment
  • At least 1 years' experience with AWS or other cloud computing platform
  • Experience with model development/deployment pipelines (e.g. Kubeflow)

Capital One will consider sponsoring a new qualified applicant for employment authorization for this position.
The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.
McLean, VA: $161,800 - $184,600 for Princ Associate, Data Science
Riverwoods, IL: $147,100 - $167,900 for Princ Associate, Data Science
Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.
This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
This role is expected to accept applications for a minimum of 5 business days.
No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com
Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.
Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

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