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Model Risk Management Jobs in Birmingham, AL (NOW HIRING)

Fraud Model Analyst

Birmingham, AL · On-site

$58K - $134K/yr

Managing Risk - Assessing and effectively managing all of the risks associated with their business ... Modeling: Data, Process, Events, Objects, Prototyping, Query and Database Access Tools Work ...

... Risk Management workstreams in partnership with architects and product owners * Managing ... Orchestrating cross-functional teams and vendors across onshore and offshore models; aligning ...

Senior Counsel--Treasury Management

Birmingham, AL · On-site

$130K - $177K/yr

Responsibilities Provide pragmatic, risk-balanced legal counsel across a broad range of payments ... Help design and improve efficient, scalable legal support models and processes to enable a fast ...

... model providers, private funds, and other vendors, as well as customer agreements) * Extensive ... Managing Risk - Assessing and effectively managing all of the risks associated with their business ...

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Model Risk Management information

See Birmingham, AL salary details

$34.2K

$77.2K

$129.3K

How much do model risk management jobs pay per year?

As of Jun 23, 2026, the average yearly pay for model risk management in Birmingham, AL is $77,159.00, according to ZipRecruiter salary data. Most workers in this role earn between $58,600.00 and $84,800.00 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 Birmingham, AL? The most popular types of Model Risk Management jobs in Birmingham, AL are:
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What job categories do people searching Model Risk Management jobs in Birmingham, AL look for? The top searched job categories for Model Risk Management jobs in Birmingham, AL are:
Infographic showing various Model Risk Management job openings in Birmingham, AL as of June 2026, with employment types broken down into 83% Full Time, 15% Part Time, and 2% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $77,159 per year, or $37.1 per hour.
Probabilistic Risk Assessment (PRA) Engineer/Analyst

Probabilistic Risk Assessment (PRA) Engineer/Analyst

Southern Company

Birmingham, AL • On-site

Full-time

Medical, Retirement

Posted 4 days ago


Southern Company rating

8.4

Company rating: 8.4 out of 10

Based on 23 frontline employees who took The Breakroom Quiz


Job description

Job Description
Probabilistic Risk Assessment (PRA) Engineer/Analyst
JOB SUMMARY
This position is assigned to Southern Nuclear Operating Company's (SNC) Nuclear Risk-Informed Engineering department located at the corporate headquarters in Birmingham, AL.
  • Please note that this position will be filled with a candidate that meets our Engineering requirements or Analyst requirements for the role and will be titled accordingly.

The RIE department is focused on being the industry leader in risk-informed decision-making by developing, maintaining, and applying state-of-the-art tools and models. The Probabilistic Risk Assessment (PRA) Engineer/Analyst work includes, but is not limited to, compiling, analyzing, and interpreting technical inputs, demonstrating regulatory compliance, and performing and managing tasks and projects as part of a team of PRA professionals.
JOB DUTIES AND RESPONSIBILITIES
Duties of the PRA Engineer/Analyst include but are not limited to:
  • Developing calculations and inputs for current and future risk applications, such as Maintenance Rule, Mitigating Systems Performance Index (MSPI), Configuration Risk Management, Risk-Informed Completion Time Program, Surveillance Frequency Control Program, 50.69 Categorization, and Alternate Treatments, Risk-Informed In-Service Testing (RI-ILT), Risk-Informed In-Service Inspection (RI-ISI), Risk-Informed Integrated Leak Rate Testing, NFPA-805 Performance-Based, Risk-Informed Fire Protection, Tornado Missile Risk Evaluator, Significance Determination Process, GSI-191, and other licensing basis changes under Regulatory Guide (RG) 1.174, RG 1.177, and RG 1.200.
  • Reviewing PRA inputs such as design changes, emergency operating procedure updates, and licensing basis changes and assessing the impact on PRA models.
  • Supporting Work Management and Operations with assessing planned and emergent maintenance risk, interpretation of results, and oversight of configuration risk management tools.
  • Performing PRA model update efforts to maintain PRA quality per RG 1.200 including internal events, fire, internal flooding, seismic, and other external hazards for Boiling Water Reactor (BWR), Pressurized Water Reactor (PWR), and Advanced Passive PWR.

  • Interpreting and ensuring compliance with risk-informed regulatory requirements, policies, and standards, including but not limited to RG 1.200, RG 1.174, and RG 1.177. Interfacing with the regulator during Reactor Oversight Process and License Basis changes.
  • Engaging with industry subject matter experts, vendors, and utility peers to build and maintain industry relationships and assess and implement best practices.
  • Managing small, medium, and large projects using Project Management principles. Engaging cross-functionally within the RIE department, the broader SNC organization, and with vendors to achieve goals.
  • Developing and delivering written and oral presentations to internal and external stakeholders.
  • Performing special studies and other assigned engineering tasks using PRA engineering and analysis principles.
  • Assisting with audits and inspections including support of significance determination process and emergency licensing support requests.
  • Traveling to plant sites and industry events in support of SNC objectives (Up to 25% travel).
  • Support the SNC Emergency Response Organization (ERO)
  • Availability for after-hours plant support

JOB REQUIREMENTS
Required:
  • A Bachelor of Science degree in Engineering or a PE license
    or
  • A Bachelor of Science degree in a Physical Science

Desired Attributes:
  • Demonstrated skills using Microsoft Office tools
  • Demonstrated oral and written communication skills
  • Demonstrated ability to successfully work as a team member
  • Two years of professional work experience in commercial nuclear power or other large, industrial-scale, heavily regulated environments
  • Direct PRA work experience
  • Experience with procurement of services (scoping, request for proposal/quote, generation of purchase requisition and purchase orders)
  • Knowledge of and experience with other software suites used in nuclear power (Primavera, eSOMS, Maximo, Documentum)

Behavioral Attributes:
  • Must exhibit Our Values: Safety First, Act with Integrity, Superior Performance, and Intentional Inclusion.
  • Must exhibit strong ownership, be proactive, and have good interpersonal, organization, and time management skills.
  • Must demonstrate a commitment to continuous improvement.

About Us
Southern Nuclear, a subsidiary of Southern Company (NYSE: SO), is a leader among the nation's nuclear energy facility operators and an innovator in advanced nuclear technologies. Southern Nuclear is an essential part of Southern Company's energy portfolio, operating over 8,200 MW across eight nuclear energy units in Alabama and Georgia at the Joseph M. Farley Nuclear Plant near Dothan, Ala., the Edwin I. Hatch Nuclear Plant near Baxley, Ga., and the Alvin W. Vogtle Electric Generating Plant near Waynesboro, Ga.
The company recently achieved commercial operation on Vogtle Units 3&4, representing an historic achievement for the nuclear industry and the country. Vogtle Units 3&4 are the first new nuclear units to reach commercial operation and be built in the United States in the last three decades. Southern Nuclear is a recognized leader in the industry in nuclear and fuel innovation, having been the first to deploy Accident Tolerant Fuels and winning over 10 consecutive Top Innovative Practice (TIP) Awards and eight EPRI awards.
For more than 40 years, Southern Nuclear has operated nuclear energy facilities at the highest levels of safety and reliability, generating carbon-free electricity for millions of homes and businesses. The company's headquarters is in Birmingham, Ala.
Twitter: @SouthernNuclear; Facebook: facebook.com/southernnuclear; www.southernnuclear.com
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy solutions provider with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers' and communities' needs while advancing our goal of net-zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture has been recognized by a variety of organizations, earning the company awards and recognitions that reflect Our Values and dedication to service. To learn more, visit www.southerncompany.com.
Southern Company invests in the well-being of its employees and their families through a comprehensive total rewards strategy that includes competitive base salary, annual incentive awards for eligible employees and health, welfare and retirement benefits designed to support physical, financial, and emotional/social well-being. This position may also be eligible for additional compensation, such as an incentive program, with the amount of any bonus/awards subject to the terms and conditions of the applicable incentive plan(s). A summary of the benefits offered for this position can be found here https://seo.nlx.org/southernco/pdf/SOCO-Benefits.pdf. Additional and specific details about total compensation and benefits will also be provided during the hiring process.
Southern Company is an equal opportunity employer where an applicant's qualifications are considered without regard to race, color, religion, sex, national origin, age, disability, veteran status, genetic information, sexual orientation, gender identity or expression, or any other basis prohibited by law.
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