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Model Risk Manager Jobs in Cleveland, OH (NOW HIRING)

KeyBank

AI Risk Lead

Brooklyn, OH · On-site

Model risk (validation, performance, drift monitoring) * Data risk (quality, lineage, privacy, and usage rights) * Bias, fairness, and explainability * GenAI/LLM risks (prompt management ...

Keybank

AI Risk Lead

Brooklyn, OH

Model risk (validation, performance, drift monitoring) * Data risk (quality, lineage, privacy, and usage rights) * Bias, fairness, and explainability * GenAI/LLM risks (prompt management ...

Keybank

Quant Analytics Assoc - Model Risk

Cleveland, OH · Hybrid

$68K - $103K/yr

... risk models. This role is intended to ensure that models are functioning properly, comply with ... management. Specifically, you will be performing in-depth validations and reviews of new and ...

Huntington

Cybersecurity Risk Manager

Fairlawn, OH · On-site +1

$70K - $140K/yr

Bachelor's degree in cybersecurity, risk management, or similar field * Minimum of 5 years of ... modeling * 2 + years' experience with cybersecurity related policy, procedures, or standards ...

Huntington

Cybersecurity Risk Manager

Fairlawn, OH · On-site +1

$70K - $140K/yr

Bachelor's degree in cybersecurity, risk management, or similar field * Minimum of 5 years of ... modeling * 2 + years' experience with cybersecurity related policy, procedures, or standards ...

Citizens

Fraud Risk Analytics Manager

Cleveland, OH · Hybrid

$106K - $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 ...

Citizens

Fraud Risk Analytics Manager

Cleveland, OH · Hybrid

$106K - $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 ...

Citizens

Fraud Risk Analytics Manager

Cleveland, OH · Hybrid

$106K - $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 ...

Citizens

Fraud Risk Analytics Manager

Cleveland, OH · Hybrid

$106K - $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 ...

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Cleveland, OH

Model Risk Manager information

See Cleveland, OH salary details

$49.9K

$108.2K

$164.9K

How much do model risk manager jobs pay per year?

As of Jul 29, 2026, the average yearly pay for model risk manager in Cleveland, OH is $108,190.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,300.00 and $125,100.00 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 Cleveland, OH? For Model Risk Manager jobs in Cleveland, OH, the most frequently searched job titles are:
What job categories do people searching Model Risk Manager jobs in Cleveland, OH look for? The top searched job categories for Model Risk Manager jobs in Cleveland, OH are:
What cities near Cleveland, OH are hiring for Model Risk Manager jobs? Cities near Cleveland, OH with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Cleveland, OH as of July 2026, with employment types broken down into 85% Full Time, 13% Part Time, 1% Temporary, and 1% Contract. Highlights an 86% Physical, 1% Hybrid, and 13% Remote job distribution, with an average salary of $108,224 per year, or $52 per hour.

AI Risk Lead

KeyBank

Brooklyn, OH • On-site

Full-time

Posted 8 days ago

KeyBank rating

8.2

Company rating: 8.2 out of 10

Based on 98 frontline employees who took The Breakroom Quiz

51st of 170 rated banks

Job description

Location:
4910 Tiedeman Road, Brooklyn Ohio
Job Summary
The AI Risk Lead is responsible for providing strategic first line of defense risk leadership and advisory support for AI Software Engineering. This role oversees the identification, assessment, mitigation, and monitoring of risks associated with GenAI and AI-enabled software delivery, ensuring alignment with enterprise risk management frameworks, internal policies, and applicable regulatory expectations. The position partners with key stakeholders across the organization to embed appropriate controls across the AI software development lifecycle, strengthen governance practices, and support responsible, secure, and compliant AI adoption. The successful candidate will serve as a key risk advisor to leadership, helping to advance scalable engineering practices while maintaining strong control discipline and regulatory readiness.
Essential Functions
  • Own and execute first line of defense (1LOD) risk management for AI Software Engineering, including identification, assessment, mitigation, and ongoing monitoring of risks across the AI development lifecycle
  • Assess and evolve Project Life Cycle (PLC) and Software Development Life Cycle (SDLC) standards to support GenAI use cases, incorporating emerging regulatory expectations and industry best practices
  • Strong partnership with Domain Enablement and Risk teams to define, implement, and maintain control frameworks aligned to AI-specific risks, including:
    • Model risk (validation, performance, drift monitoring)
    • Data risk (quality, lineage, privacy, and usage rights)
    • Bias, fairness, and explainability
    • GenAI/LLM risks (prompt management, hallucination controls, output validation)
    • Third-party / foundation model usage
  • Translate regulatory and policy requirements into actionable engineering controls, ensuring alignment with internal risk frameworks (e.g., Model Risk Management, operational risk) and external regulatory expectations
  • Drive enhancements to SDLC practices, ensuring appropriate controls are embedded across:
    • Versioning, traceability, and reproducibility
    • Testing, deployment, and continuous monitoring
  • Establish and govern AI asset inventory and agent governance frameworks, including:
    • Registration and tracking of AI models and autonomous agents
    • Financial transparency (cost tracking, allocation)
    • Defined authority, decision boundaries, and human oversight controls
  • Partner with Domain Enablement, Engineering, Model Risk Management, Compliance, and Cyber teams to ensure consistent and comprehensive risk coverage across the AI ecosystem
  • Monitor control effectiveness and risk posture, including:
    • Control testing and validation
    • KRIs/KPIs for AI risk
    • Issue identification, escalation, and remediation tracking
  • Act as a trusted advisor to AI Software Engineering leadership, proactively identifying emerging risks, control gaps, and opportunities to strengthen risk-informed delivery
  • Support audit and regulatory engagement, including preparation of documentation, control evidence, and responses for internal audit and regulatory reviews
  • Provide ongoing 1LOD risk advisory and control support to AI Software Engineering team, including real-time engagement throughout the development lifecycle, proactive identification and mitigation of emerging risks, oversight of control execution, and support for issue remediation, audit inquiries, and regulatory reviews
  • Drive awareness for AI engineering teams on risk, control, and regulatory expectations to support responsible and compliant AI adoption

Education
  • Bachelor's Degree (preferred)
  • OR equivalent experience (required)

Work Experience
  • 10+ years of relevant experience (required)

Skills
  • Expert knowledge of processes, tools and techniques for assessing and controlling an organization's exposure to risks of various kinds; ability to apply knowledge of risk management appropriately to diverse situations.
  • Expert knowledge of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors.
  • Expert knowledge of business process design; ability to develop appropriate techniques to re-examine key processes and focus on optimizing organizational performance.
  • Expert knowledge of the decision-making process and associated tools and techniques; ability to accurately analyze situations and reach productive decisions based on informed judgment.
  • Extensive experience with inter-team collaboration in breaking down silos and achieving business results; ability to lead employees from various functions to communicate, coordinate work across divisions, and collaborate in solving problems as one team.
  • Expert knowledge of effective self-management practices; ability to manage multiple concurrent objectives, projects, groups, or activities, making effective judgments as to prioritizing and time allocation.
  • Expert knowledge of the necessity and value of accuracy; ability to complete tasks with high levels of precision.
  • Extensive experience with the importance of "big picture" thinking and planning; ability to apply organizational acumen and competitiveness to identify and maintain focus on key success factors for the organization.
  • Expert knowledge of effective team building techniques; ability to form and manage effective teams.
  • Expert knowledge of concepts, methods, and processes of internal control; ability to create, implement, evaluate and enhance processes in internal controls.
  • Extensive experience in regulatory environments

Core Competencies
  • All KeyBank employees are expected to demonstrate Key's Values and abide by Key's Code of Conduct.

Physical Demands
  • General Office - Prolonged sitting, ability to communicate face to face in person or on the phone with teammates and clients, frequent use of PC/laptop, occasional lifting/pushing/pulling of backpacks, computer bags up to 10 lbs.

Work Location Category
  • Hybrid (3+ days)

COMPENSATION AND BENEFITS
This position is eligible to earn a base salary in the range of $96,000.00 - $181,000.00 annually. Placement within the pay range may differ based upon various factors, including but not limited to skills, experience and geographic location. Compensation for this role also includes eligibility for incentive compensation which may include production, commission, and/or discretionary incentives.
Please click here for a list of benefits for which this position is eligible.
Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.
Job Posting Expiration Date: 08/28/2026KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, pregnancy, disability, veteran status or any other characteristic protected by law.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
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About KeyBank

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Key is one of the nation's largest bank-based financial services companies. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Cleveland, OH, US

Year founded

1849

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