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Model Risk Manager Jobs in California (NOW HIRING)

Earnest

Senior Model Risk Manager

San Francisco, CA

$203K - $250K/yr

The Sr Model Risk Manager will report to the Head of Credit Risk. As the Sr Model Risk Manager, you will: * Own and evolve Earnest's Model Risk Management framework, ensuring our credit, loss ...

Earnest

Senior Model Risk Manager

San Francisco, CA · On-site +1

$203K - $250K/yr

The Sr Model Risk Manager will report to the Head of Credit Risk. As the Sr Model Risk Manager, you will: * Own and evolve Earnest's Model Risk Management framework, ensuring our credit, loss ...

Sunflower Bank, N.A.

Model Risk Analyst

Irvine, CA · On-site

$85K - $95K/yr

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 ...

Sunflower Bank NA

Model Risk Analyst

Irvine, CA · On-site

$85K - $95K/yr

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 ...

Sunflower Bank NA

Model Risk Analyst

Irvine, CA · Hybrid

$85K - $95K/yr

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 ...

BNY

Vice President, Model Risk Management

Los Angeles, CA · On-site +1

$129.50K - $179K/yr

The Bank of New York Mellon seeks Vice President, Model Risk Management II in Los Angeles, CA, to contribute to highly visible enterprise-wide model development function in the organization. Make ...

Chumash Enterprises

Risk Manager

Santa Ynez, CA · On-site

This role and its function are part of the Risk Management shared services model. A Team Member in a shared service structure, works within a dedicated business unit (including people, processes, and ...

Chumash Enterprises

Risk Manager

Santa Ynez, CA

This role and its function are part of the Risk Management shared services model. A Team Member in a shared service structure, works within a dedicated business unit (including people, processes, and ...

loco

Risk Manager

Costa Mesa, CA

Lead the company's risk management and insurance function across procurement, claims, and analytics ... Experience with actuarial concepts, loss modeling, and data-driven decision-making. * Track record ...

Synchrony Financial

The AVP, Model Validation is responsible for model validation and ensure they are meeting Model Risk Management policies, standards, procedures as well as regulations (OCC2011-12/SR 11-7). This role ...

Conventus

Market Risk Manager

Westlake Village, CA

$130.40K - $161K/yr

Build statistical and quantitative models to measure and manage interest rate risk. Produce high quality risk and performance reporting for senior management, clearly communicating portfolio dynamics ...

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Model Risk Manager information

See California salary details

$50.8K

$110.1K

$167.8K

How much do model risk manager jobs pay per year?

As of May 29, 2026, the average yearly pay for model risk manager in California is $110,095.00, according to ZipRecruiter salary data. Most workers in this role earn between $88,800.00 and $127,300.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Model Risk Manager, and why are they important?

To thrive as a Model Risk Manager, you need a solid background in quantitative finance, statistics, or mathematics, often supported by an advanced degree and experience in model development or validation. Familiarity with programming languages such as Python or R, risk management frameworks, and regulatory requirements like SR 11-7 or ECB guidelines is typically expected. Strong analytical thinking, attention to detail, and effective communication are crucial soft skills for articulating complex model risks to stakeholders. These competencies are vital for ensuring the accuracy, compliance, and reliability of financial models within an organization.

What are some common challenges a Model Risk Manager faces when validating complex financial models?

Model Risk Managers often encounter challenges such as limited or incomplete data, evolving regulatory requirements, and the need to validate highly complex or proprietary models. They must work closely with model developers, quantitative analysts, and compliance teams to ensure all assumptions and methodologies are sound. Staying up to date with industry best practices and maintaining clear documentation are also crucial, as is effectively communicating findings to both technical and non-technical stakeholders.

What does a Model Risk Manager do?

A Model Risk Manager is responsible for identifying, assessing, and mitigating risks associated with financial and analytical models used by an organization. They ensure that models are accurate, reliable, and compliant with regulatory standards by overseeing validation processes and monitoring model performance. Their role often includes collaborating with model developers, conducting independent reviews, and implementing model governance frameworks to minimize potential losses or errors stemming from model misuse or inaccuracies.

What is the difference between Model Risk Manager vs Quantitative Analyst?

AspectModel Risk ManagerQuantitative Analyst
Required CredentialsAdvanced degrees in finance, statistics, or mathematics; certifications like FRM or CFADegree in finance, economics, mathematics, or related fields; often CFA or CQF
Work EnvironmentFocus on risk management teams within financial institutions; regulatory complianceAnalytical roles within trading, investment, or banking divisions; model development
Employer & Industry UsageFinancial institutions, banks, asset managersInvestment firms, hedge funds, banks, financial services

The Model Risk Manager primarily oversees and mitigates risks associated with financial models, ensuring compliance and accuracy. In contrast, Quantitative Analysts develop and implement models to support trading, investment, or risk strategies. While both roles require strong quantitative skills and similar credentials, their focus areas differ—risk management versus model development and analysis.

What are the most commonly searched types of Model Risk jobs in California? The most popular types of Model Risk jobs in California are:
What are popular job titles related to Model Risk Manager jobs in California? For Model Risk Manager jobs in California, the most frequently searched job titles are:
What job categories do people searching Model Risk Manager jobs in California look for? The top searched job categories for Model Risk Manager jobs in California are:
What cities in California are hiring for Model Risk Manager jobs? Cities in California with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in California as of May 2026, with employment types broken down into 1% As Needed, 95% Full Time, 3% Part Time, and 1% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $110,095 per year, or $52.9 per hour.
Senior Model Risk Manager

Senior Model Risk Manager

Earnest

San Francisco, CA

$203K - $250K/yr

Other

Posted 18 days ago

Job description

The Sr Model Risk Manager will report to the Head of Credit Risk. 

As the Sr Model Risk Manager, you will:

  • Own and evolve Earnest's Model Risk Management framework, ensuring our credit, loss forecasting, fraud, marketing, and finance models are rigorous, transparent, and built to scale responsibly.
  • Lead independent end-to-end model validations - from conceptual soundness and data quality to performance monitoring and implementation review - delivering thoughtful, constructive challenge to modeling teams.
  • Partner closely with Data Science and Risk leaders early in the model design process to strengthen assumptions, improve methodology, and elevate modeling standards across the company.
  • Oversee model performance monitoring and proactively identify emerging risks, performance drift, or control gaps - ensuring timely, practical remediation.
  • Deliver clear, decision-ready validation reports and communicate technical findings in a way that drives strong business outcomes and sound risk decisions.
  • Serve as a trusted advisor on model governance, helping Earnest move fast while maintaining the discipline and controls required of a best-in-class lending platform.

About You: 

  • You hold a Master's degree in a quantitative field (Statistics, Economics, Mathematics, Financial Engineering, or similar) with 7+ years of experience in model development, validation, or model risk management in financial services (or a Bachelor's degree with 10+ years of relevant experience).
  • You've worked in consumer or small business lending - ideally in a fintech or innovative banking environment - and understand the models that power modern credit decisioning.
  • You have hands-on experience with statistical and machine learning models and are comfortable diving into Python code and large datasets using SQL to independently assess model performance.
  • You understand regulatory model risk expectations and know how to apply them pragmatically in a high-growth environment.
  • You bring strong judgment, intellectual independence, and the confidence to challenge assumptions while building productive cross-functional partnerships.
  • You can translate complex modeling concepts into clear, actionable insights for senior stakeholders.

Even Better:

  • Experience in loss forecasting models, preferably with hands-on exposure to CECL frameworks, including model development, validation, or governance.
  • Experience with personal loans or student lending products.
  • Experience interacting with auditors or regulators in model risk or credit oversight contexts.
  • Experience reviewing third-party or vendor models.
  • Experience building or maturing a model governance framework at a scaling fintech company.
Where:
  • This role will be based in the US.

Compensation: 

A little about our pay philosophy: We take pride in compensating our employees fairly and equitably. We are showcasing a range of your potential base salary based on the roles location. The successful candidate's starting pay will also be determined based on job-related qualifications, internal compensation, candidate location and budget. This range may be modified in the future.

Salary Range: $203,000 - $250,000 USD. Employees are also eligible for an annual performance-based bonus and equity.

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