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Model Risk Management Jobs in Washington (NOW HIRING)

Sallie_mae

Manager, Credit Risk

Sterling, VA · On-site

Collaborate with Compliance, Model Risk Management, Operational Risk, and Internal Audit to ensure comprehensive risk coverage and consistent messaging. * Contribute to continuous improvement of ...

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Model Risk Management information

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$41.3K

$93.2K

$156.3K

How much do model risk management jobs pay per year?

As of Jun 20, 2026, the average yearly pay for model risk management in Washington is $93,246.00, according to ZipRecruiter salary data. Most workers in this role earn between $70,800.00 and $102,500.00 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.
What are the most commonly searched types of Model Risk Management jobs in Washington? The most popular types of Model Risk Management jobs in Washington are:
What are popular job titles related to Model Risk Management jobs in Washington? For Model Risk Management jobs in Washington, the most frequently searched job titles are:
What job categories do people searching Model Risk Management jobs in Washington look for? The top searched job categories for Model Risk Management jobs in Washington are:
What cities in Washington are hiring for Model Risk Management jobs? Cities in Washington with the most Model Risk Management job openings:
Model Risk Management jobs near you
Infographic showing various Model Risk Management job openings in Washington as of June 2026, with employment types broken down into 84% Full Time, 14% Part Time, and 2% Contract. Highlights an 86% Physical, 2% Hybrid, and 12% Remote job distribution, with an average salary of $93,246 per year, or $44.8 per hour.

Manager, Credit Risk

Sallie_mae

Sterling, VA • On-site

Full-time

Medical, Dental, Vision, Life, PTO

Posted 21 days ago

Job description

When you join Sallie Mae, you become a champion for all students.

We're on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.

Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We're changing. Because students need a better way.

We're looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students-and for each other.

This is where diverse backgrounds, beliefs, and perspectives matter. It's where you're empowered to bring your authentic self to work.

Feeling your best allows you to do your best. Our benefits take care of the whole you-from physical and mental to financial and professional. You'll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.

We're obsessed with impact and making a real difference. For us, that means putting relationships first, asking "why not?" when tackling challenges, and continuously learning new skills.

Come do more than join something, change something. For students, for future generations, for the future of education.

What You'll Contribute

The Manager, Credit Risk serves as a key leader within the Second Line of Defense (2LOD), providing independent oversight, credible effective challenge, and governance support across the credit life cycle. This role is responsible for assessing credit risk practices, portfolio trends, risk appetite alignment, and control effectiveness to ensure the organization's credit strategies across the credit lifecycle remain safe, sound, data-driven, and compliant with evolving regulatory expectations.

The Manager will partner closely with First Line business teams while maintaining independence, contribute to executive and committee-level risk reporting, and support regulatory examinations and audit activities.

What You'll Do

  • Conduct independent credit risk assessments and thematic reviews across origination, servicing, loss mitigation, and recovery activities, identifying emerging credit risks and exposure across the credit life cycle.

  • Provide effective challenge to First Line credit strategies, assumptions, control frameworks, and portfolio actions; document conclusions and escalate concerns as appropriate.

  • Assess adherence to credit policies, risk appetite statements, underwriting standards, and concentration limits, recommending enhancements where misalignment is observed.

  • Oversee monitoring and reporting of credit risk KRIs, portfolio trends, and emerging risks, ensuring accuracy, consistency, and executive-readiness.

  • Provide secondline oversight of credit strategy and decisioning frameworks across the lifecycle, including policies, analytics, and supporting models/tools, with an emphasis on governance, performance outcomes, and risk alignment.

  • Support issue management activities, including identification, root cause assessment, remediation tracking, and closure validation related to credit risk matters.

  • Prepare risk summaries and credit risk assessment materials for senior management, risk committees, and regulatory audiences.

  • Collaborate with various internal stakeholders, such as finance, originations, and collections teams, to ensure alignment of credit risk objectives and practices.

  • Collaborate with Compliance, Model Risk Management, Operational Risk, and Internal Audit to ensure comprehensive risk coverage and consistent messaging.

  • Contribute to continuous improvement of credit risk governance frameworks, reporting standards, and oversight practices.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.

What you have

Minimum: Indicate minimum education, skills and experience required.

  • Ability to perform analytics as well as code in either or multiplelanguages (Python, SAS, SQL) and expertise in BI tools (Tableau, Power BI, Microsoft Office Suite).

  • Bachelor's degree in Finance, Economics, Business, or a related field; advanced degree or certifications (CRC, FRM, CFA) preferred.

  • 5+ years of progressive experience in consumer credit risk management within a financial services environment, including second line oversight or comparable governance roles.

  • Demonstrated understanding of lines of defense frameworks, risk appetite governance, and regulatory supervisory expectations.

  • Experience delivering effective challenge to senior stakeholders and influencing outcomes without direct authority.

  • Strong analytical capability and problem-solving skills with the ability to translate complex credit risk information into clear executive and committee-level insights, with the ability to think strategically and make informed decisions.

  • Ability to perform analytics in either or multiplelanguages (Python, SAS, SQL) and expertise in BI tools (Tableau, Power BI, Microsoft Office Suite).

  • Familiarity with consumer credit products (e.g., student loans, unsecured lending, mortgages, credit cards).

  • Demonstrated experience in developing and implementing credit risk strategies, policies, and procedures.

  • High integrity, sound judgment, and ability to handle confidential information with discretion.

Preferred: Indicate "nice to haves" regarding education, skills, and experience.

  • Experience with credit analytics, decision/credit risk or risk governance frameworks, risk appetite statements, and issue management.

  • Experience with segmentation strategy, vendor management, and regulatory exam support.

The Americans with Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the "essential functions" of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that function.

Feeling your best helps you do your best:Our benefits take care of the whole you-so you can build your work around your life (not the other way around!).

  • Competitive base salaries

  • Bonus incentives

  • Generous PTO, Floating Holidays and 12 Federal Holidays observed

  • Support for financial-well-being and retirement401k with employer match

  • Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more

  • Employer paid short-term/long-term disability and basic life insurance

  • Flexible hybrid working arrangements.

  • Paid parental leave and adoption reimbursement programs

  • Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)

  • Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives

  • Tuition Reimbursement and Family Scholarship Programs

  • Career development and training opportunities

Not the right fit? Let us know you're interested in a future opportunity by clickingIntroduce Yourselfin the top-right corner of the page or create an account to set up email alerts as new job postings become available that meet your interest!

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. Click hereto view the U.S. Pay Transparency Policy, here for federal job applicant notices, and here to view the California Employee Privacy Notice.
Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call (855) 756-2007 and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

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