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Model Risk Manager Jobs in Michigan (NOW HIRING)

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Model Risk Manager information

See Michigan salary details

$44.9K

$97.2K

$148.2K

How much do model risk manager jobs pay per year?

As of Sep 10, 2026, the average yearly pay for model risk manager in Michigan is $97,232.00, according to ZipRecruiter salary data. Most workers in this role earn between $78,400.00 and $112,400.00 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 Michigan?

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

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

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

Infographic showing various Model Risk Manager job openings in Michigan as of August 2026, with employment types broken down into 82% Full Time, 13% Part Time, 2% Temporary, 2% Contract, and 1% Nights. Highlights an 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $97,232 per year, or $46.7 per hour.

Risk Management Manager - Controlled Insurance Programs (OCIP)

Detroit, MI • On-site

Walbridge
Construction • 1 - 5K employees

Full-time

Re-posted 21 days ago


Walbridge rating

8.6

Company rating: 8.6 out of 10

Based on 6 frontline employees who took The Breakroom Quiz


Job description

Overview

The Opportunity

As the Risk Management Manager, Controlled Insurance Programs, you will lead the strategic oversight, internal coordination, financial performance, and governance of Walbridge's Controlled Insurance Program (CIP) portfolio, including compliance with Owner Controlled Insurance Program requirements for projects in which the enterprise is enrolled. You will serve as the primary leader and point of accountability for CIP administration, working closely with executive leadership, including the CFO and General Counsel, to ensure effective program governance, compliance, cost control, risk mitigation, and alignment with project delivery and business development objectives.

This position is ideal for an experienced risk management leader with strong financial acumen, construction insurance expertise, and the ability to lead cross-functional stakeholders, manage external partners, and translate complex insurance and financial data into clear, actionable insights for project teams and senior leadership.

Location

You will work from our Enterprise headquarters in Detroit, MI

Responsibilities

CIP Governance & Strategic Oversight

  • Lead enterprise governance and internal accountability for all CCIP and OCIP-related project requirements.
  • Manage broker and program administrator execution of contractor enrollment, payroll tracking, compliance, reporting, claims coordination, and closeout activities.
  • Establish, review, and continuously improve CIP processes, controls, and deliverables to ensure accuracy, timeliness, contractual compliance, and operational consistency.
  • Lead issue resolution and escalation for program matters impacting project teams, subcontractors, owners, financial performance, or enterprise risk exposure.

Program Administration Oversight

  • Direct proper setup of CCIP projects, including scope definition, eligibility requirements, program documentation, and coordination of kick-off and pre-bid meetings.
  • Oversee enrollment metrics, bid deduct processes, payroll submissions, certificate issuance, renewals, reporting, and subcontractor closeout activities.
  • Monitor subcontractor compliance trends, evaluate program risks, and direct corrective actions in partnership with project leadership, brokers, and administrators.
  • Develop consistent documentation, training, and reporting standards to support scalable CIP administration across the enterprise.

Financial Management, Forecasting & Analytics

  • Develop and maintain CCIP financial models, including enrollment assumptions, payroll projections, loss forecasts, cost allocation, and overall program cost tracking.
  • Monitor program performance against budget and forecast, identifying financial risks, cost-saving opportunities, and business impacts for leadership review.
  • Partner with Finance, Project Controls, project teams, and brokers to reconcile CIP costs, credits, allocations, and related reporting requirements.
  • Prepare and present financial updates, program insights, audit support, and recommendations to senior leadership.

Communication & Stakeholder Management

  • Serve as the primary enterprise liaison between project teams, executive leadership, insurance brokers, program administrators, carriers, owners, and internal business partners.
  • Provide leadership, coaching, and guidance to Project Executives, Project Managers, Estimating, Finance, and operational teams on CIP requirements, processes, and responsibilities.
  • Champion consistent communication practices, documentation standards, and continuous improvement across all CIP projects.
Qualifications

To Qualify for the Role, You Must Have

  • Bachelor's degree in Risk Management, Finance, Construction Management, Business, or a related field, or equivalent experience.
  • 8+ years of experience in construction risk management, insurance programs, controlled insurance programs, or wrap-up administration.
  • Direct experience with CCIPs and/or OCIPs, including enrollment, payroll, compliance, reporting, and closeout processes.
  • Demonstrated experience managing brokers, third-party administrators, carriers, consultants, or professional service providers.
  • Strong financial acumen with experience in forecasting, budgeting, cost analysis, reporting, and presenting recommendations to leadership.
  • Proven ability to lead cross-functional initiatives, influence stakeholders, resolve complex issues, and drive process improvement.
  • Valid driver's license required.

Ideally, You'll Also Have

  • Experience working for a General Contractor, large construction manager, owner, carrier, broker, or administrator supporting complex construction insurance programs.
  • Familiarity with wrap-up administration platforms, insurance reporting tools, claims reporting, and enterprise risk management practices.
  • Experience supporting CIP-related sales efforts, project pursuit activities, owner presentations, or executive-level program reviews.
  • Leadership experience developing processes, training materials, reporting standards, or team capability in a matrixed environment.

Why Join Us

  • Lead a high-impact program that supports the strategic oversight, compliance, and financial performance of enterprise insurance programs.
  • Partner closely with executive leadership, project teams, Finance, Legal, brokers, carriers, and external stakeholders.
  • Drive risk management excellence across complex, high-impact construction projects.
  • Build scalable processes, improve program visibility, and help shape the future of controlled insurance program management at Walbridge.
EEO/AA Employer M/F/D/V

Walbridge is an equal opportunity employer with a culture that promotes diversity, equity, and inclusion in the workforce. We provide equal employment opportunities to all qualified employees and applicants for employment without regard to race, color, national origin, sex, religion, age, marital status, sexual orientation, gender identity, citizenship status, status as an individual with a disability, military, or protected veteran status, or any other legally protected status. We prohibit discrimination in decisions concerning career development, recruitment, hiring, compensation, benefits, training, termination, promotions, or any other condition of employment.

Employment Type: OTHER

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