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Model Risk Manager Jobs in New York (NOW HIRING)

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Model Risk Manager information

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$56.3K

$122K

$186K

How much do model risk manager jobs pay per year?

As of Sep 10, 2026, the average yearly pay for model risk manager in New York is $122,046.00, according to ZipRecruiter salary data. Most workers in this role earn between $98,500.00 and $141,100.00 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 New York?

The most popular types of Model Risk jobs in New York are:

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

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

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

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

What cities in New York are hiring for Model Risk Manager jobs?

Cities in New York with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in New York as of August 2026, with employment types broken down into 86% Full Time, 13% Part Time, and 1% Contract. Highlights an 83% Physical, 2% Hybrid, and 15% Remote job distribution, with an average salary of $122,046 per year, or $58.7 per hour.

Model Risk - Securitized Products

Manhattan, NY • On-site

Nomura International
See more jobs at Nomura Internationalexternal

$160K - $185K/yr

Full-time

Medical, Retirement, PTO

Posted 9 days ago

Job description

Job Title: Model Risk - Securitized Products
Corporate Title: Vice President
Department:Risk Management
Location:New York
The pay range for this position at commencement of employment is expected to be between $160,000 and $185,000/ year *(see below footnote for additional compensation and benefits information).
Company overview
Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
Aon's Benefit Index®, Nomura's benefits rank #1 amongst our competitors
Division Overview:
Nomura's Risk department plays a crucial role in identifying, assessing, and mitigating risks across our business. We strive to protect the firm's assets, reputation, and financial stability by implementing robust risk management practices. Join our team and contribute to our proactive approach in managing risks, allowing us to make informed decisions and thrive in an ever-changing market environment.
Role Description:
  • A VP-level position in the Model Validation Group, responsible for validating models used across the Agency mortgage and securitized products businesses.
  • Evaluate model conceptual soundness, ongoing monitoring frameworks, and model outcomes to assess appropriateness for intended use.
  • Identify, analyze, and quantify potential model risk, including sensitivity to assumptions, calibration accuracy, performance stability, and robustness of model outputs.
  • Produce comprehensive model validation documentation, including validation findings and risk-based assessments of model limitations and assumptions.
  • Present validation results and risk assessments to senior management, model risk governance committees, and business stakeholders.
  • Build collaborative partnerships with stakeholders while maintaining independent and principled challenge.

Skills, experience, qualifications and knowledge required:
  • Ph.D. in a quantitative discipline (Statistics, Mathematics, Economics, or a related field) strongly preferred. A Master's degree with exceptional relevant experience will be considered.
  • 3-5 years of experience in model validation or a front-office quantitative group at a major financial institution.
  • Hands-on experience working with mortgage pool- and loan-level performance data to identify behavioral drivers of prepayment and default.
  • Proven ability to build and/or validate Agency MBS prepayment models and mortgage credit models.
  • Strong knowledge of the U.S. mortgage market, statistical modeling, survival analysis, time-series forecasting, and/or machine learning techniques.
  • Advanced proficiency in Python, R, and SQL for quantitative modeling and data analysis.
  • A team player with strong verbal and written communication skills.

Nomura Competencies
Explore Insights & Vision
  • Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions
  • Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People
  • Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability
  • Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion
  • Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, discretionary awards and eligibility for commissions for applicable sales roles in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
If hired in the U.S., employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors".
Nomura is an Equal Opportunity Employer

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