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Model Risk Manager Jobs in Rhode Island (NOW HIRING)

Citizens

Fraud Risk Analytics Sr Analyst

Johnston, RI

$79K - $95K/yr

Monitor and develop fraud strategies, tools, processes, models and ensure that they deliver ... Effectively manages competing priorities of requests working under strict deliverables Required ...

Citizens

Fraud Risk Analytics Sr Analyst

Johnston, RI · On-site

$79K - $95K/yr

Monitor and develop fraud strategies, tools, processes, models and ensure that they deliver ... Effectively manages competing priorities of requests working under strict deliverables Required ...

Citizens

Fraud Risk Analytics Sr Analyst

Johnston, RI · On-site

$79K - $95K/yr

Monitor and develop fraud strategies, tools, processes, models and ensure that they deliver ... Effectively manages competing priorities of requests working under strict deliverables Required ...

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Rhode Island

Model Risk Manager information

See Rhode Island salary details

$50.4K

$109.2K

$166.5K

How much do model risk manager jobs pay per year?

As of Jul 14, 2026, the average yearly pay for model risk manager in Rhode Island is $109,248.00, 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 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 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 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 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 are popular job titles related to Model Risk Manager jobs in Rhode Island? For Model Risk Manager jobs in Rhode Island, the most frequently searched job titles are:
What job categories do people searching Model Risk Manager jobs in Rhode Island look for? The top searched job categories for Model Risk Manager jobs in Rhode Island are:
What cities in Rhode Island are hiring for Model Risk Manager jobs? Cities in Rhode Island with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Fraud Risk Analytics Sr Analyst

Fraud Risk Analytics Sr Analyst

Citizens Bank

Johnston, RI • On-site

$79K - $95K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 18 days ago

Job description


The Fraud Risk Sr Analyst is accountable for monitoring and developing fraud risk strategies for Citizens Consumer Debit & ATM Card accounts with a focus on IT tools and systems to monitor and mitigate fraud. The Fraud Risk Sr Analyst will take the lead in the development of fraud processes, strategies, and IT controls/tools to mitigate fraud risk during all facets of the Debit & ATM process while balancing customer experience, operational and product P&L impacts. Responsibilities include evaluation of new information security tools and processes to enhance detection, and reporting on overall Fraud losses and trends in addition to monitoring strategy performance. Reconcile numerous metrics and condense/summarize portfolio performance, with recommendations for improvements to information security processes and technologies.
Primary responsibilities include
  • Monitor and develop fraud strategies, tools, processes, models and ensure that they deliver superior fraud detection while balancing approval rate and product P&L impacts. Explain variances and recommend remedial actions to all stakeholders. Mine application data to develop segmentation to improve fraud detection and minimize impact to legitimate applications.
  • Strong partnership with vendors and Product team effectively managing the fraud controls for new-account application based on ROI.
  • Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Risk Management Framework and internal Citizens Bank Policies and Policy Standards.
  • Develop, implement, monitor, and provide performance tracking of fraud strategies and fraud prevention tools and processes.
  • Conducts ongoing analysis to identify root cause of fraud trends and propose potential solutions
  • Effectively manages competing priorities of requests working under strict deliverables

Required Skills/Experience
  • 5+ years of advanced analytics work experience preferably in Financial Services industry
  • High proficiency with data extraction/mining tools (data processing and analysis) like SQL, SAS
  • Proficient with Microsoft Office applications; Advanced Excel. PowerPoint
  • Strong problem solving and analytical skills
  • Excellent communications (oral and written), interpersonal / business partnering, and organizational skills

Preferred Skills/Experience
  • Strong knowledge of the fraud management life cycle and industry trends
  • Previous experience with managing fraud application risk at another financial institution is a plus

Education
Bachelor's Degree in Operations Management, Mathematics, Statistics, Actuarial Sciences, Economics, Engineering or other quantitative, business, or technical discipline, or equivalent combination of education and business applied experience.
Master's degree preferred.
Hours & Work Schedule
  • Hours per Week: 40
  • Work Schedule: 8:30am - 5:00pm, Monday - Friday

Pay Transparency
  • The salary range for this position is $79,000 - $95,000 per year. Actual pay is based on various factors including but not limited to the work location, and relevant skills and experience. We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens' paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits

About Us
Equal Employment Opportunity
Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.
Equal Employment and Opportunity Employer
Job Applicant Data Privacy Policy
Background Check
Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.

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