1

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 ...

Clinical Risk Manager

Schaumburg, IL · Hybrid

$84K - $140K/yr

Swiss Re uses a hybrid work model requiring at least three days in the office each week. This ... A background in a Clinical Risk Management position is encouraged but will consider qualified ...

Fraud Risk Analytics Manager

Chicago, IL · Hybrid

$105K - $130K/yr

... risk management, and product experiences. The ideal candidate brings deep fraud domain expertise ... Model evaluation and performance monitoring Preferred Qualifications * Experience with fraud ...

Fraud Risk Analytics Manager

Chicago, IL · Hybrid

$105K - $130K/yr

... risk management, and product experiences. The ideal candidate brings deep fraud domain expertise ... Model evaluation and performance monitoring Preferred Qualifications * Experience with fraud ...

TheERP Risk and Automation Services (ERAS) Consulting practice,assistswith various consulting ... Model RSM's core values: caring, curious, collaborative, courageous, and critical thinking * Manage ...

next page

Showing results 1-20

Model Risk Manager information

See Aurora, IL salary details

$51.4K

$111.3K

$169.6K

How much do model risk manager jobs pay per year?

As of Jun 1, 2026, the average yearly pay for model risk manager in Aurora, IL is $111,289.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,800.00 and $128,700.00 per year, depending on experience, location, and employer.

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 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 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 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 Aurora, IL? For Model Risk Manager jobs in Aurora, IL, the most frequently searched job titles are:
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:
Infographic showing various Model Risk Manager job openings in Aurora, IL as of May 2026, with employment types broken down into 1% As Needed, 93% Full Time, 4% Part Time, and 2% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $111,289 per year, or $53.5 per hour.
Director - Technology Risk Consulting - Artificial Intelligence and Emerging Technology

Director - Technology Risk Consulting - Artificial Intelligence and Emerging Technology

RSM

Chicago, IL

Full-time

Posted 6 days ago


Job description

We are the leading provider of professional services to the middle market globally, our purpose is to instill confidence in a world of change, empowering our clients and people to realize their full potential. Our exceptional people are the key to our unrivaled, culture and talent experience and our ability to be compelling to our clients. You'll find an environment that inspires and empowers you to thrive both personally and professionally. There's no one like you and that's why there's nowhere like RSM.

Role Summary

The Director, AI & Emerging Technology Risk provides strategic leadership across client delivery, presales, and advisory services related to artificial intelligence and emerging technologies. This role blends AI expertise, enterprise risk management, technology risk leadership, solution architecture, and software development oversight to help clients innovate responsibly while managing risk. The Director plays a key role in shaping gotomarket strategy, supporting presales efforts, and serving as an executive advisor throughout the client lifecycle.

Artificial Intelligence & Emerging Technology Leadership

  • Advise executive stakeholders on AI and emerging-technology risk across governance, ethics, security, privacy, and operational resilience-grounded in how models are built, deployed, and monitored in production
  • Lead client decisioning on GenAI/ML adoption by translating business use cases into implementable architectures, control requirements, and delivery roadmaps (people/process/technology)
  • Track evolving model capabilities, platforms, and threat/regulatory trends to continuously refine solution patterns, controls, and sales positioning for risk-focused AI offerings

Enterprise Risk & Technology Risk Strategy

  • Design and operationalize AI/technology risk frameworks aligned to ERM-mapping controls to the AI/ML lifecycle (data, training, evaluation, deployment, monitoring, change management)
  • Assess enterprise-wide AI impacts across cybersecurity, privacy, model risk management (MRM), third-party risk, and compliance-producing actionable remediation plans and control implementation backlogs
  • Present AI risk posture, risk appetite alignment, and control maturity to Boards and executive committees using clear metrics (KRIs/KPIs), model inventories, and audit-ready documentation

Solutions Architecture & Software Oversight

  • Architect AI-enabled solutions for risk consulting clients (including GenAI/RAG patterns) with secure-by-design, scalable, and governable reference architectures
  • Evaluate SDLC and MLOps practices-cloud landing zones, APIs, data pipelines, CI/CD, model registries, and deployment strategies-to identify risk, control gaps, and engineering fixes
  • Embed "risk-by-design" into build plans: threat modeling, privacy engineering, evaluation/validation protocols, human-in-the-loop controls, monitoring/alerting, and incident response runbooks

Client Delivery & Practice Leadership

  • Lead AI risk and emerging-technology engagements from strategy to implementation-owning delivery plans, sprint execution, stakeholder management, and outcomes
  • Establish delivery governance (scope, RAID, quality gates, model validation checkpoints) and ensure solutions are production-ready, auditable, and defensible
  • Build and mentor cross-functional teams (risk, data science, engineering, security) and provide technical leadership across Managers and Senior Managers
  • Develop reusable accelerators (reference architectures, control libraries, evaluation harnesses, templates) and publish market-facing thought leadership to scale delivery and sales
  • Drive account expansion by identifying adjacent risk opportunities, quantifying value, and partnering with client leaders to turn delivery success into follow-on sales

GotoMarket Leadership

  • Own delivery sales for AI risk pursuits: qualify opportunities, shape deal strategy, and lead solutioning as the senior AI engineering/risk SME
  • Define and package AI risk solution offerings (e.g., GenAI governance, MRM uplift, secure RAG, AI SDLC/MLOps controls) with clear value propositions and deliverables
  • Lead proposal development-scoping, staffing model, delivery approach, assumptions, pricing inputs, and risk-managed implementation plan
  • Run client workshops and executive presentations that walk through architectures, control designs, and delivery plans-bridging engineering details to risk outcomes
  • Translate transformation goals into implementable AI risk solutions aligned to regulatory guidance, internal governance, and target-state technology architecture
  • Build trusted C-level relationships and maintain pipeline by connecting delivery success to measurable risk reduction, audit readiness, and operational resilience

Experience, Skills & Qualifications

  • Bachelor's or Master's degree in Computer Science, Engineering, Data Science, Risk, or related discipline (or equivalent practical experience)
  • 8-10+ years leading technology risk and/or AI engineering delivery in consulting or industry, including ownership of large client programs
  • Job relevant certification (ie, Azure, Aws, AI certifications, etc.)

Preferred Qualifications

  • Deep knowledge of modern AI/ML and GenAI (LLMs, RAG, evaluation, safety), and the ability to translate that into concrete risk controls and implementation patterns
  • Proven delivery sales experience: shaping pursuits, leading solutioning, contributing to pricing, and presenting to executive buyers
  • Strong understanding of cloud and data architecture, SDLC, and MLOps/LLMOps (CI/CD, IaC, observability, model registry, feature stores, policy-as-code)
  • Demonstrated ability to embed governance, security, privacy, and model risk management early in design/build, and to stand up audit-ready evidence and controls
  • Executive-level communicator who can translate between engineers, risk leaders, regulators/auditors, and business stakeholders; comfortable owning both delivery and commercial outcomes

At RSM, we offer a competitive benefits and compensation package for all our people.We offer flexibility in your schedule, empowering you to balance life's demands, while also maintaining your ability to serve clients.Learn more about our total rewards at https://rsmus.com/careers/working-at-rsm/benefits.

All applicants will receive consideration for employment as RSM does not tolerate discrimination and/or harassment based on race; color; creed; sincerely held religious beliefs, practices or observances; sex (including pregnancy or disabilities related to nursing); gender; sexual orientation; HIV Status; national origin; ancestry; familial or marital status; age; physical or mental disability; citizenship; political affiliation; medical condition (including family and medical leave); domestic violence victim status; past, current or prospective service in the US uniformed service; US Military/Veteran status; pre-disposing genetic characteristics or any other characteristic protected under applicable federal, state or local law.

Accommodation for applicants with disabilities is available upon request in connection with the recruitment process and/or employment/partnership.RSM is committed to providing equal opportunity and reasonable accommodation for people with disabilities. If you require a reasonable accommodation to complete an application, interview, or otherwise participate in the recruiting process, please call us at 800-274-3978 or send us an email at careers@rsmus.com.

RSM does not intend to hire entry level candidates who will require sponsorship now OR in the future (i.e. F-1 visa holders). If you are a recent U.S. college / university graduate possessing 1-2 years of progressive and relevant work experience in a same or similar role to the one for which you are applying, excluding internships, you may be eligible for hire as an experienced associate.

RSM will consider for employment qualified applicants with arrest or conviction records. For those living in California or applying to a position in California, please click here for additional information.

At RSM, an employee's pay at any point in their career is intended to reflect their experiences, performance, and skills for their current role. The salary range (or starting rate for interns and associates) for this role represents numerous factors considered in the hiring decisions including, but not limited to, education, skills, work experience, certifications, location, etc. As such, pay for the successful candidate(s) could fall anywhere within the stated range.

Compensation Range: $126,500 - $254,700

Individualsselected for this role will be eligible for a discretionary bonus based on firm and individual performance.