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Model Risk Manager Jobs in Indiana (NOW HIRING)

Munich Re

Data and AI Enterprise Architect

Carmel, IN · On-site

Ensure responsible and compliant AI adoption, aligned with AI governance, model risk management, data privacy, and security controls . * Guide the integration of AI/ML capabilities into analytics ...

Munich Re

Data and AI Enterprise Architect

Fishers, IN · On-site

Ensure responsible and compliant AI adoption, aligned with AI governance, model risk management, data privacy, and security controls . * Guide the integration of AI/ML capabilities into analytics ...

Circle

Evaluate emerging blockchain technologies, payment models, and decentralized architectures ... Ability to lead through ambiguity, manage multiple fast-moving priorities, and build durable ...

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Indiana

Model Risk Manager information

See Indiana salary details

$49K

$106.2K

$161.8K

How much do model risk manager jobs pay per year?

As of Aug 19, 2026, the average yearly pay for model risk manager in Indiana is $106,153.00, according to ZipRecruiter salary data. Most workers in this role earn between $85,600.00 and $122,800.00 per year, depending on experience, location, and employer.

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 skills and qualifications are needed to be a model risk manager?

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 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 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 Indiana?

The most popular types of Model Risk jobs in Indiana are:

What are popular job titles related to Model Risk Manager jobs in Indiana?

For Model Risk Manager jobs in Indiana, the most frequently searched job titles are:

What job categories do people searching Model Risk Manager jobs in Indiana look for?

The top searched job categories for Model Risk Manager jobs in Indiana are:

What cities in Indiana are hiring for Model Risk Manager jobs?

Cities in Indiana with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Indiana as of August 2026, with employment types broken down into 85% Full Time, 13% Part Time, and 2% Contract. Highlights an 83% Physical, 2% Hybrid, and 15% Remote job distribution, with an average salary of $106,153 per year, or $51 per hour.

International Senior Credit Risk Specialist I, South Bend, IN (On-Site)

1st Source Bank

South Bend, IN • On-site

Full-time

Re-posted 25 days ago

1st Source Bank rating

8.8

Company rating: 8.8 out of 10

Based on 13 frontline employees who took The Breakroom Quiz

16th of 171 rated banks

Job description

POSITION SUMMARY
Responsible for performing advanced and specialized credit analysis of domestic and international loan transactions for current and prospective customers. This role requires the application of theoretical and practical knowledge in finance, accounting, and international credit risk analysis to evaluate financial condition, repayment capacity, and overall creditworthiness.
 
The position focuses on cross-border lending and international customer portfolios, including the analysis of foreign financial statements, economic conditions, and country-specific risks. Exercises independent judgment and discretion in evaluating complex financial information and recommending credit decisions.
 
ESSENTIAL REQUIREMENTS
  • Performs in-depth analysis of complex commercial and international credit transactions, including new loan requests, renewals, and modifications.
  • Analyzes financial statements (domestic and foreign), including balance sheets, income statements, and cash flow statements prepared under varying accounting standards.
  • Evaluates credit risk associated with international customers, including foreign exchange exposure, sovereign/country risk, political and economic conditions, and cross-border legal considerations.
  • Conducts quantitative financial modeling and ratio analysis to assess repayment capacity and financial stability.
  • Reviews and interprets credit reports, third-party financial data, and industry research to support credit recommendations.
  • Assesses adequacy and valuation of collateral, including assets located in foreign jurisdictions.
  • Prepares comprehensive written credit analyses and recommendations for approval, demonstrating clear rationale and risk assessment.
  • Communicates credit decisions and findings effectively to internal stakeholders, including sales teams and senior management.
  • Maintains and performs periodic reviews of existing credit relationships, identifying changes in risk profile.
  • Conducts industry and regional research, particularly for international markets in which customers operate.
  • Collaborates with Senior Credit Analysts and management on complex or high-risk credit relationships.
  • Ensures compliance with all applicable banking regulations, credit policies, and risk management standards.
  • Regular and predictable attendance is an essential function of the position.
  • Complete all required compliance and regulatory training.
 
NON-ESSENTIAL FUNCTIONS
Performs all other duties as assigned.
 
EXPERIENCE/SKILLS
  • Minimum of five (5) years of experience in commercial credit analysis, financial analysis, banking, or a related field, preferably including exposure to international credit or cross-border transactions.
  • Demonstrated ability to apply advanced financial and accounting principles to analyze complex financial statements and credit structures.
  • Knowledge of international financial reporting considerations, foreign exchange risk, and global economic factors impacting credit risk.
  • Strong proficiency in financial modeling, ratio analysis, and risk assessment techniques.
  • Ability to exercise independent judgment and discretion in evaluating creditworthiness and making recommendations.
  • Strong analytical, problem-solving, and organizational skills with a high degree of accuracy and attention to detail.
  • Proficiency in Microsoft Excel and Word, including advanced data analysis capabilities.
  • Excellent written and verbal communication skills, including the ability to present complex financial information clearly and concisely.

EDUCATION
Bachelor’s Degree in Accounting, Finance, Business Administration, or a closely related field with a concentration in finance or financial analysis is required.
 
LANGUAGE REQUIREMENTS
Portuguese language proficiency is required to effectively analyze financial documents, communicate with clients, and evaluate credit risk for Portuguese-speaking international customers and markets.
 
Spanish language proficiency is preferred to support additional international customer relationships.
 
TRAVEL REQUIREMENTS
Ability to travel to various locations, including occasional overnight travel, as needed for meetings, customer visits, and business-related activities.
 
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals to perform the essential functions.
 
While performing the duties of this job, the employee is required to sit, stand and walk; use hands and fingers to operate keyboard and other office equipment; reach with hands and arms; and talk or hear. The employee is occasionally required to stoop or kneel. The employee may occasionally lift and/or move up to 10 pounds.

EQUIPMENT
Standard office equipment including PC, phone, and Microsoft Office applications.

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