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Model Risk Manager Jobs in Buffalo, NY (NOW HIRING)

M&T Bank

Model Risk Analyst-Validation

Buffalo, NY

$91K - $101K/yr

Provide guidance and advice to other departments regarding model risk management. Prepare written summary and analysis of all validation work, using a combination of word processing and presentation ...

M&T Bank

Model Risk Analyst-Validation

Buffalo, NY · On-site

$91K - $101K/yr

Provide guidance and advice to other departments regarding model risk management. Prepare written summary and analysis of all validation work, using a combination of word processing and presentation ...

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Model Risk Manager information

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$49.9K

$108.1K

$164.7K

How much do model risk manager jobs pay per year?

As of Jul 14, 2026, the average yearly pay for model risk manager in Buffalo, NY is $108,060.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,200.00 and $125,000.00 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.
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Model Risk Manager jobs near you
Model Risk Analyst-Validation

Model Risk Analyst-Validation

M&T Bank

Buffalo, NY

$91K - $101K/yr

Full-time

Posted 26 days ago

M&T Bank rating

7.8

Company rating: 7.8 out of 10

Based on 183 frontline employees who took The Breakroom Quiz

76th of 149 rated banks

Job description

Title: Model Risk Analyst - Validation

Job Location: One M&T Plaza, Buffalo, NY 14203.

Job Description: Ensure the accuracy, reliability, and compliance of models in accordance with Company or regulatory standards and policies. Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models. Analyze financial data, trends, and regulations to identify potential opportunities for improvement. Develop new models to address changing risk environments. Monitor model performance, prepare reports for internal and external stakeholders, and document findings. Stay abreast of industry best practices and regulatory changes. Provide guidance and advice to other departments regarding model risk management. Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills.

Minimum requirements: Master's degree (or foreign equivalent) in Applied Mathematics, Computing, Data Science, Materials Science, or related STEM field of study plus three (3) years of experience as a Model Risk Analyst, Data Scientist, Quantitative Analyst, Product Developer, or related occupation.

Requires Three (3) years of experience in each of the following:

  • Programming Languages, including Python, MATLAB, C/C++, R and SAS.
  • Technical Analyses, including in-sample back-testing, moving averages, time series analysis, z-score analysis, performance metrics evaluation, goodness-off-fit tests (including Kolmogorov-Smirnov test and Gini scores), and correlation matrices.
  • Technical Writing, including writing technical reports using Microsoft Word, LaTeX, Markdown, or Git.
  • Data Science concepts, including statistics and probability, exploratory data analysis (EDA), machine learning, model evaluation and selection, feature engineering, time series analysis, loss forecasting, and model validation concepts such as cross validation, model performance metrics selection, and bias-variance tradeoff.
  • Building Regression Models (including Linear and Logistic Regression and Multinomial Regression Models) and handling multicollinearity, assumptions review, and evaluation of regression models using various validation techniques.
  • Conducting independent review and validation of Machine Learning Models.

Skills can be gained through graduate-level coursework.

Salary: $91,463.04-$101,463.04 per year

LocationBuffalo, New York, United States of America

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