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Model Risk Manager Jobs in Aurora, IL (NOW HIRING)

Head of Risk

Chicago, IL · On-site

$225K - $300K/yr

Design and oversee margin model validation, stress testing, and back-testing programs. * Manage counterparty credit risk assessment and ongoing monitoring for clearing members. * Develop position ...

... Risk Manager, you will play a pivotal role within our Risk & Regulatory practice, focusing on ... You will utilize skills in data manipulation, visualization, and statistical modeling to support ...

Partner with Model Risk Management on model validations, annual reviews, and ongoing assessments. * Analyze model performance and explain model behavior to business stakeholders. * Utilize advanced ...

Head of Global Merchant Risk

Chicago, IL · On-site

$210K - $280K/yr

You are responsible for the day‑to‑day management of Adyen's counterparty exposure originating ... Strategic Influence - While Product owns the models and Second Line owns the appetite, you are the ...

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Model Risk Manager information

See Aurora, IL salary details

$51.1K

$110.6K

$168.5K

How much do model risk manager jobs pay per year?

As of Jul 15, 2026, the average yearly pay for model risk manager in Aurora, IL is $110,600.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,200.00 and $127,900.00 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 job categories do people searching Model Risk Manager jobs in Aurora, IL look for? The top searched job categories for Model Risk Manager jobs in Aurora, IL are:
What cities near Aurora, IL are hiring for Model Risk Manager jobs? Cities near Aurora, IL with the most Model Risk Manager job openings:
Manager, Brex Business Risk - Enterprise Services Risk Office

Manager, Brex Business Risk - Enterprise Services Risk Office

Capital One

Chicago, IL

Full-time

Posted 29 days ago


Capital One rating

7.8

Company rating: 7.8 out of 10

Based on 143 frontline employees who took The Breakroom Quiz

76th of 149 rated banks


Job description

Manager, Brex Business Risk - Enterprise Services Risk Office

We are hiring! The Enterprise Services Business Risk Office provides risk management support to several lines of business including: Brand, Enterprise Supplier Management, Enterprise Products & Experience (EPX), Software, External Affairs, eData, Global Workplace Solutions, Emerging Payments, Ventures, and Tech. As the risk team for Enterprise Services Business Risk, we are on the cutting edge of risk management and provide support for new and emerging technologies as well as critical business strategies. Capital One has taken a bold journey to build a technology company, while operating in a complex, highly regulated business.

As a Risk Manager, you will support and oversee Integration efforts for a large scale company merger. This role will be responsible for driving cross functional alignment across multiple lines of business and key partners, managing complex workstreams, mitigating risk, and ensuring successful post merger integration across people, process and technology. This is an exciting opportunity for a well-rounded candidate to help boldly model the future of Capital One.

As part of the Enterprise Services Business Risk team, you will demonstrate a unique blend of analytical and communications skills. You will lead horizontal strategy and problem solving across the Integration program, including creating updates for senior executives. You will identify dependencies, key decisions, and strategic questions to be answered across business, technology, and other key partners. You will also drive the design of an integrated program, leading through influence to ensure the team meets our fast-paced deadlines while bringing the broader organization along.

Here's what we're looking for in an ideal teammate:

  • You're a strategic thinker and enjoy collecting, organizing, and synthesizing information to make a decision or recommendation

  • You understand that context is key and ensuring people are informed is critical to organizational success

  • You are able to drive all phases of project management to include feasibility, definition, planning, prioritization, implementation and close out

  • You are a confident communicator who feels comfortable presenting program ideas or decisions in front of peers, stakeholders, and leaders

  • You enjoy fast paced environments and can ask tough questions / challenge the status quo

  • You have a high degree of organizational skills and ability to manage multiple, competing priorities

  • You can put structure in place, connect dots, and can find and articulate a clear narrative or vision

  • You are highly collaborative and consultative, and seek out inspiration and feedback from others to always drive towards the best solution

  • You understand the benefits of both process and being nimble

  • You are independent, can work autonomously, and are comfortable owning the end-to-end program with little direction

Responsibilities:

  • Support the end-to-end planning and delivery of an integration program; providing clarity, structured problem solving, and results driven execution

  • Manage program governance structure, interaction model, operating cadence, and executive reporting

  • Translate and communicate complex information into clear, actionable insights for stakeholders at all levels, providing regular updates and progress dashboards

  • Assist and drive project and program delivery, including project and process management, reporting, engagement in senior leadership meetings, and drafting and reviewing materials for senior management

  • Monitor and manage key integration risks, issues, and interdependencies

  • Manage and synthesize input from multiple directions and drive organized execution

  • Be a trusted advisor and drive effective and relevant business, technology, and cyber risk conversations to execute program delivery

  • Participate in risk and other management forums and contribute to continuous improvement of risk and project/program management practices

  • Support direction, manage expectations, and lead cross-functional teams through various initiatives, including oversight of third party resources

Basic Qualifications:

  • High School Diploma, GED or Equivalent Certification

  • At least 3 years of experience in Risk Management, Network Engineering, Data Governance, Project Management or a combination of these

  • At least 3 years of experience supporting, partnering, and interacting with internal business clients

  • At least 2 years of experience with reporting, metrics, data visualization, or technical documentation

Preferred Qualifications

  • Bachelor's Degree or Military Experience

  • At least 4 years of experience in risk management or technology risk management

  • At least 5 years of experience in project, program, or portfolio management

  • At least 1 year of Financial Services industry experience

  • Experience in Security Architecture (e.g., Cloud Security, Zero Trust, Network Security) standards and frameworks (e.g., NIST, ISO)

  • Experience in Data Privacy regulations (e.g., GDPR, etc.) or Data Taxonomy classification and standards

  • Experience in International Market expansion, hardware or software lifecycle management, or import and export risk management

  • Excellent verbal presentation and written communication skills to interact and influence at all levels of the organization (e.g., technology or cyber organizations, enterprise business stakeholders, and executive leadership)

  • Ability to manage multiple cross-functional projects while maintaining superior results

  • Excellent problem-solving, analytical and critical thinking skills to effectively respond to shifting priorities, demands and timelines

  • Cyber, Technology, or Risk Certifications (CISSP, CRISC, CISM, PMP, CRCM, CIPP, ABA Risk Mgmt Certification)

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

McLean, VA: $164,800 - $188,100 for Manager, Cyber Risk & Analysis


Chicago, IL: $149,800 - $171,000 for Manager, Cyber Risk & Analysis


New York, NY: $179,700 - $205,100 for Manager, Cyber Risk & Analysis


Richmond, VA: $149,800 - $171,000 for Manager, Cyber Risk & Analysis








Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.

Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).


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