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Model Risk Manager Jobs in Minnesota (NOW HIRING)

US Bank

Head of AI Delivery

Minneapolis, MN

$221K/yr

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory ... Experience managing large, cross-functional teams across business, technology, and risk disciplines ...

U.S. Bank

Head of AI Delivery

Minneapolis, MN · On-site

$221K/yr

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory ... Experience managing large, cross-functional teams across business, technology, and risk disciplines ...

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Model Risk Manager information

See Minnesota salary details

$50.4K

$109.3K

$166.5K

How much do model risk manager jobs pay per year?

As of Sep 11, 2026, the average yearly pay for model risk manager in Minnesota is $109,259.00, according to ZipRecruiter salary data. Most workers in this role earn between $88,100.00 and $126,300.00 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 popular job titles related to Model Risk Manager jobs in Minnesota?

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

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

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

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

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

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Minnesota as of August 2026, with employment types broken down into 85% Full Time, 12% Part Time, 2% Contract, and 1% Nights. Highlights an 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $109,259 per year, or $52.5 per hour.

Senior Manager - Vendor Management Office (VMO)

Minneapolis, MN • On-site, Remote

Deloitte
Finance and Insurance • 10K+ employees
Learn more about Deloitteexternal

Full-time

Re-posted 2 days ago

Deloitte rating

8.2

Company rating: 8.2 out of 10

Based on 93 frontline employees who took The Breakroom Quiz

Job description

Overview

Deloitte Technology US (DT-US), an internal enterprise technology organization within Deloitte, is seeking a Senior Manager to lead the Vendor Management Office (VMO). This role serves as a strategic leader responsible for defining and executing the enterprise vendor management strategy across Deloitte's technology ecosystem.
You will lead a high-performing VMO function that drives vendor governance, financial optimization, performance management, and risk alignment across a complex portfolio of strategic technology partners. This role operates at the intersection of technology, finance, procurement, and risk, ensuring Deloitte maximizes value from its vendor investments while enabling innovation, scalability, and operational excellence.
As a VMO leader, you will shape the future of vendor management through ServiceNow-enabled automation, AI-driven insights, and continuous capability evolution, aligning vendor strategy with enterprise priorities.

Recruiting for this role ends on September 30, 2026

Work You'll Do

  • Lead the enterprise vendor management strategy across DT-US.
  • Establish and evolve governance frameworks, operating models, policies, and standards across the vendor lifecycle.
  • Advise the CIO, COO, and senior business leaders on vendor strategy, selection, and portfolio governance.
  • Drive alignment across U.S. and Global VMO priorities and strategies.
  • Build, lead, and develop a multidisciplinary VMO team spanning vendor governance, performance, financial management, and risk.
  • Oversee end-to-end vendor lifecycle management, from onboarding through renewal or exit, while ensuring alignment with architecture, security, compliance, and risk requirements.
  • Lead vendor portfolio strategy through major transformation efforts, including large-scale technology initiatives, mergers and acquisitions, and divestitures.
  • Own vendor performance and financial management, including SLA/SLO alignment, KPI tracking, executive reporting, budgeting, forecasting, cost optimization, and issue remediation.
  • Lead the enterprise VMO technology roadmap in ServiceNow, including Supplier Lifecycle Operations and Contract Management Pro, to advance automation, standardization, analytics, and AI-enabled capabilities.
  • Own the third-party risk framework and partner across Procurement, Finance, Legal, Cyber, Risk, and Technology to strengthen vendor governance, manage risk, and inform long-term investment decisions.

A successful candidate would possess these skills:

  • Ability to work independently and collaborate as part of a team
  • Effective written and verbal communication skills
  • Meticulous attention to detail and quality of work product
  • Ability to build and sustain professional relationships
  • Ability to lead projects or workstreams
  • Ability to manage and prioritize multiple tasks in a fast-paced and dynamic environment
  • Strong interpersonal skills and professional demeanor
  • Ability to meet deadlines
  • Ability to mentor and provide clear guidance to others

Qualifications Required

  • Bachelor's degree
  • 10+ years of experience in IT vendor management, supplier governance, strategic sourcing, or enterprise technology operations
  • 2+ years experience leading or transforming a Vendor Management Office or similar governance function in addition to working on the budgeting, forecasting and cost optimizations of VMOs
  • 8+ years vendor lifecycle management, performance governance, and financial management
  • 1+ years recently working with ServiceNow Supplier Lifecycle Operations (SLO) and Contract Management Pro as core VMO platform modules
  • Bachelor's degree in Business, Finance, Information Systems, or equivalent
  • Limited immigration sponsorship may be available
  • Ability to travel 0-10%, on average, based on the work you do; this role is predominantly remote with the option to work from home or a nearby Deloitte office

Preferred

  • Proven ability to lead teams and influence senior stakeholders
  • Strong strategic, analytical, and problem-solving skills
  • Executive communication and presentation skills
  • Experience in large-scale enterprise IT environments
  • Experience leveraging AI, predictive analytics, or automation in vendor management
  • Familiarity with third-party risk management frameworks (TPRM)
  • Experience with IT financial management, chargeback/showback models
  • Experience developing vendor market intelligence and benchmarking
  • MBA or equivalent graduate degree

Why Join DT-US?

DT-US powers the technology ecosystem behind Deloitte's U.S. businesses. You will join a forward-looking organization focused on innovation, operational excellence, and scalable governance models that enable enterprise transformation.
This is an opportunity to lead and shape a critical enterprise capability, driving measurable impact across vendor strategy, financial performance, and technology delivery.

The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Deloitte, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $113,100 to $208,300.

You may also be eligible to participate in a discretionary annual incentive program, subject to the rules governing the program, whereby an award, if any, depends on various factors, including, without limitation, individual and organizational performance. 

EA_ExpHire

#LH-1

EA_ITS_ExpHire 

Qualifications:

Overview

Deloitte Technology US (DT-US), an internal enterprise technology organization within Deloitte, is seeking a Senior Manager to lead the Vendor Management Office (VMO). This role serves as a strategic leader responsible for defining and executing the enterprise vendor management strategy across Deloitte's technology ecosystem.
You will lead a high-performing VMO function that drives vendor governance, financial optimization, performance management, and risk alignment across a complex portfolio of strategic technology partners. This role operates at the intersection of technology, finance, procurement, and risk, ensuring Deloitte maximizes value from its vendor investments while enabling innovation, scalability, and operational excellence.
As a VMO leader, you will shape the future of vendor management through ServiceNow-enabled automation, AI-driven insights, and continuous capability evolution, aligning vendor strategy with enterprise priorities.

Recruiting for this role ends on September 30, 2026

Work You'll Do

  • Lead the enterprise vendor management strategy across DT-US.
  • Establish and evolve governance frameworks, operating models, policies, and standards across the vendor lifecycle.
  • Advise the CIO, COO, and senior business leaders on vendor strategy, selection, and portfolio governance.
  • Drive alignment across U.S. and Global VMO priorities and strategies.
  • Build, lead, and develop a multidisciplinary VMO team spanning vendor governance, performance, financial management, and risk.
  • Oversee end-to-end vendor lifecycle management, from onboarding through renewal or exit, while ensuring alignment with architecture, security, compliance, and risk requirements.
  • Lead vendor portfolio strategy through major transformation efforts, including large-scale technology initiatives, mergers and acquisitions, and divestitures.
  • Own vendor performance and financial management, including SLA/SLO alignment, KPI tracking, executive reporting, budgeting, forecasting, cost optimization, and issue remediation.
  • Lead the enterprise VMO technology roadmap in ServiceNow, including Supplier Lifecycle Operations and Contract Management Pro, to advance automation, standardization, analytics, and AI-enabled capabilities.
  • Own the third-party risk framework and partner across Procurement, Finance, Legal, Cyber, Risk, and Technology to strengthen vendor governance, manage risk, and inform long-term investment decisions.

A successful candidate would possess these skills:

  • Ability to work independently and collaborate as part of a team
  • Effective written and verbal communication skills
  • Meticulous attention to detail and quality of work product
  • Ability to build and sustain professional relationships
  • Ability to lead projects or workstreams
  • Ability to manage and prioritize multiple tasks in a fast-paced and dynamic environment
  • Strong interpersonal skills and professional demeanor
  • Ability to meet deadlines
  • Ability to mentor and provide clear guidance to others

Qualifications Required

  • Bachelor's degree
  • 10+ years of experience in IT vendor management, supplier governance, strategic sourcing, or enterprise technology operations
  • 2+ years experience leading or transforming a Vendor Management Office or similar governance function in addition to working on the budgeting, forecasting and cost optimizations of VMOs
  • 8+ years vendor lifecycle management, performance governance, and financial management
  • 1+ years recently working with ServiceNow Supplier Lifecycle Operations (SLO) and Contract Management Pro as core VMO platform modules
  • Bachelor's degree in Business, Finance, Information Systems, or equivalent
  • Limited immigration sponsorship may be available
  • Ability to travel 0-10%, on average, based on the work you do; this role is predominantly remote with the option to work from home or a nearby Deloitte office

Preferred

  • Proven ability to lead teams and influence senior stakeholders
  • Strong strategic, analytical, and problem-solving skills
  • Executive communication and presentation skills
  • Experience in large-scale enterprise IT environments
  • Experience leveraging AI, predictive analytics, or automation in vendor management
  • Familiarity with third-party risk management frameworks (TPRM)
  • Experience with IT financial management, chargeback/showback models
  • Experience developing vendor market intelligence and benchmarking
  • MBA or equivalent graduate degree

Why Join DT-US?

DT-US powers the technology ecosystem behind Deloitte's U.S. businesses. You will join a forward-looking organization focused on innovation, operational excellence, and scalable governance models that enable enterprise transformation.
This is an opportunity to lead and shape a critical enterprise capability, driving measurable impact across vendor strategy, financial performance, and technology delivery.

The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Deloitte, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $113,100 to $208,300.

You may also be eligible to participate in a discretionary annual incentive program, subject to the rules governing the program, whereby an award, if any, depends on various factors, including, without limitation, individual and organizational performance. 

EA_ExpHire

#LH-1

EA_ITS_ExpHire 

Education:Bachelor's DegreeEmployment Type:

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