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

M&T Bank

Senior Risk Analyst - Market Risk

Buffalo, NY · On-site

$103K - $171.60K/yr

Prior knowledge of Asset Liability Management (ALM) concepts including interest rate risk modeling (net interest income and economic value of equity) and/or funds transfer pricing. * Experience with ...

M&T Bank

Senior Risk Analyst - Market Risk

Buffalo, NY · On-site

$103K - $171.60K/yr

Prior knowledge of Asset Liability Management (ALM) concepts including interest rate risk modeling (net interest income and economic value of equity) and/or funds transfer pricing. * Experience with ...

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Model Risk Manager information

See Buffalo, NY salary details

$49.9K

$108.1K

$164.7K

How much do model risk manager jobs pay per year?

As of May 31, 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 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 Buffalo, NY? For Model Risk Manager jobs in Buffalo, NY, the most frequently searched job titles are:
What job categories do people searching Model Risk Manager jobs in Buffalo, NY look for? The top searched job categories for Model Risk Manager jobs in Buffalo, NY are:
What cities near Buffalo, NY are hiring for Model Risk Manager jobs? Cities near Buffalo, NY with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Buffalo, NY as of May 2026, with employment types broken down into 1% As Needed, 94% Full Time, 4% Part Time, and 1% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $108,060 per year, or $52 per hour.
Senior Director - Treasury Risk, Model Risk, and Capital Risk Oversight

Senior Director - Treasury Risk, Model Risk, and Capital Risk Oversight

M&T Bank

Buffalo, NY • On-site

$189K - $351K/yr

Full-time

Posted 26 days ago

M&T Bank rating

7.8

Company rating: 7.8 out of 10

Based on 179 frontline employees who took The Breakroom Quiz

66th of 141 rated banks

Job description

Overview:This executive role is responsible for leading the oversight and independent review of the Bank's risk landscape across key domains: Treasury operations, Finance (including CCAR/Stress Testing and ACL processes), Model Risk Management (MRM), and emerging non-traditional banking solutions. The position ensures alignment with both economic and regulatory requirements, while driving strategic risk governance and cross-functional collaboration.

Finance & Treasury Oversight

  • Lead Independent Risk Management (IRM) activities for CCAR/Capital Planning, including scenario development and Horizontal Capital Review.
  • Evaluate and enhance controls related to Regulatory Reporting risk and other Finance processes.
  • Oversee IRM activities for Treasury, including interest rate risk, market risk, and liquidity risk.
  • Represent IRM on senior committees (CMC, Executive ALCO, MRC) and provide updates to Governance Committees, Board Risk Committee, and Regulators.

Model Risk Management

  • Direct the Model Risk Management function, ensuring compliance with SR 11-07 and oversight of models including CCAR, CECL, Scorecards, AUM, BSA/AML, Marketing, and AI/ML.
  • Collaborate with stakeholders to ensure enterprise-wide model risk compliance.
  • Chair the Model Risk Oversight Committee (MROC), the Bank's quantitative model governance body.

Emerging Banking Solutions

  • Lead the IRM AI Risk Oversight Program in coordination with first-line AI initiatives (AI HUB, AI Working Group).
  • Oversee IRM efforts related to cryptocurrency, stable coins, and other digital assets.
  • Manage the End-User Computing (EUC) program and ensure compliance with enterprise policy.

General Risk Management

  • Apply deep knowledge of Enterprise Risk Management and IRM principles.
  • Ensure timely resolution of audit and regulatory issues.
  • Build consensus across divisions, resolve conflicts, and align priorities to drive progress.
  • Exercise full managerial authority over staffing, performance, compensation, and development.

Scope of Responsibilities

  • Team Leadership: Directly manage 5-7 senior professionals; oversee a broader team of 100+ individuals.
  • Strategic Influence: Serve as a key voice in shaping the Bank's risk posture and regulatory engagement.
Education and Experience Required:

  • Master's Degree and a minimum of 13 years' financial services experience,

  • or in lieu of a degree,

  • 19 years' higher education and/or work experience, including a minimum of 13 years' financial services experience.

  • Experience in at least one corporate level and one divisional level area.

  • Experience leading cross functional project teams; ability to work across all divisions.

  • Strong knowledge of personal computers and software (MS Office, etc).

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $189,000.00 - $351,000.00 Annual (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.LocationBuffalo, New York, United States of America

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