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

Associatedbank

Model Risk Manager

Chicago, IL

Role Summary The Model Risk Manager is responsible for leading and advancing Associated Bank's Model Risk Management Program to ensure compliance with regulatory requirements and industry best ...

Wintrust

Officer, Model Risk Management

Rosemont, IL · On-site

Position Overview The Officer, Model Risk Management will conduct various activities related to enterprise model risk validation and model governance. This individual is accountable for independently ...

Wintrust

Officer, Model Risk Management

Rosemont, IL · On-site

Position Overview The Officer, Model Risk Management will conduct various activities related to enterprise model risk validation and model governance. This individual is accountable for independently ...

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Provide independent model risk management and support for the VP of Model Risk as follows: Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Provide independent model risk management and support for the VP of Model Risk as follows: Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric ...

Brookfield

Risk Analyst

Chicago, IL

Exposure to SOX, Model Risk Management (SR 11-7), AI Risk Management (NIST AI RMF), or IT GRC frameworks * Progress toward or completion of professional certifications (ARM, CRM, CERA, etc.) KEY ...

Deloitte

Financial Risk Manager

Chicago, IL

Financial Services Manager - Financial Risk Our Deloitte Regulatory, Risk & Forensic team helps ... Knowledge of financial services business models, products, and services * Experience in banking ...

Alliant Credit Union

Lead Model Validation

Chicago, IL · Hybrid

$95K - $163K/yr

Validate a broad range of models used across credit risk, treasury management (ALM), finance, underwriting, and related areas, includes both traditional statistical models and artificial intelligence ...

New

Northern Trust

Hedge Fund Risk Manager

Chicago, IL · On-site

$80K - $133K/yr

Maintain VaR, stress testing, and scenario analysis models * Build dashboards and deliver risk ... Participate in ongoing manager monitoring Qualifications Necessary Experience and Education * 3 - 5 ...

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Geneva, IL

Model Risk Manager information

See Geneva, IL salary details

$50.3K

$108.9K

$165.9K

How much do model risk manager jobs pay per year?

As of Jul 10, 2026, the average yearly pay for model risk manager in Geneva, IL is $108,876.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,800.00 and $125,900.00 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 Geneva, IL look for? The top searched job categories for Model Risk Manager jobs in Geneva, IL are:
What cities near Geneva, IL are hiring for Model Risk Manager jobs? Cities near Geneva, IL with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Geneva, IL as of July 2026, with employment types broken down into 100% Full Time. Highlights an 75% In-person, and 25% Remote job distribution, with an average salary of $108,876 per year, or $52.3 per hour.

Model Risk Manager

Associatedbank

Chicago, IL

Full-time

Retirement, PTO

Posted 13 days ago

Job description

At Associated Bank we strive to create an inclusive culture where different perspectives are valued and recognized as strengths critical to our success. If you thrive in an environment where your growth and development are encouraged and supported, then Associated Bank may be the right place for you.

Associated Bank requires you to directly represent yourself and your own experiences during the recruiting and hiring process. Associated Bank conducts a thorough background check on all new hires.

Role Summary
The Model Risk Manager is responsible for leading and advancing Associated Bank's Model Risk Management Program to ensure compliance with regulatory requirements and industry best practices. This role partners across the organization to strengthen risk oversight, provide independent challenge, and enhance model risk governance. The position offers the opportunity to influence enterprise-wide risk management strategies and work closely with senior leadership, regulators, and business partners.

Key Accountabilities

  • Lead the development, implementation, and continuous improvement of the Model Risk Management Program and framework.

  • Drive effective model risk governance through oversight, monitoring, reporting, and risk assessments.

  • Partner with business lines to ensure consistent application of model risk standards and regulatory expectations.

  • Analyze model risk trends, identify emerging risks, and provide independent challenge and risk-based recommendations.

  • Develop policies, procedures, and reporting that support strong model risk management practices.

  • Serve as the primary liaison with regulators, independent reviewers, and testing teams for model risk-related activities.

  • Advise leadership on risk management initiatives, governance committees, and enterprise-wide projects.

  • Provide training, guidance, and development opportunities that strengthen risk awareness and program effectiveness.

Education & Experience

Required

  • Bachelor's degree in Risk Management, Finance, Economics, Accounting, Business Administration, Audit, Compliance, or a related field, or an equivalent combination of education and experience.

  • 8+ years of experience in the financial services industry with senior-level responsibilities related to Model Risk Management or Operational Risk Management.

  • Advanced knowledge of risk management frameworks, controls, and regulatory requirements.

  • Experience developing, implementing, and overseeing enterprise risk management programs.

  • Strong analytical, communication, and stakeholder management skills.

Preferred

  • Experience leading cross-functional projects and strategic initiatives.

  • Experience interacting with and influencing senior leaders and executive stakeholders.

  • Professional certifications related to Risk Management, Model Risk Management, Audit, or Compliance.

  • Experience supporting regulatory examinations, audits, or independent reviews.

Why You'll Love Working Here

At Associated Bank, you'll have the opportunity to work alongside talented professionals who are committed to collaboration, innovation, and continuous learning. We invest in your professional growth through development opportunities, leadership exposure, and meaningful work that influences the future of the organization. If you're ready to help shape a strong risk culture and drive enterprise-wide impact, apply today to make an impact.

We welcome and encourage applications from all qualified parties, including but not limited to people returning to the workforce, people with disabilities, those without a college degree, and veterans or those with military experience.

In addition to core traditional benefits, we take pride in offering benefits for every stage of life.

  • Retirement savings including both 401(k) and Pension plans.

  • Paid time off to volunteer in your community.

  • Opportunities to connect with others through our diversity-focusedColleague Resource Groups.

  • Competitive salaries with professional development and advancement opportunities.

  • Bonus benefits including well-being programs and incentives, parental leave,anemployee stock purchase plan, military benefits and much more.

  • Personal banking, loan, investmentand insurance benefits.

Associated Bank serves more than 120 communities throughout Wisconsin, Illinois, Minnesota, and Missouri and we consider our colleagues critical to our continued success. See why our colleagues continually vote us a best place to work in the Midwest.Join our community onFacebook,LinkedInandX.

Compliance Statement

Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Fully complies with all applicable enterprise policies and procedures. Acts in compliance with all applicable laws and regulations as outlined in training materials, including but not limited to Bank Secrecy Act. Responsible for reporting suspicious activity to Financial Intelligence. Responsible to report all customer complaints as prescribed and procedure violations to management or HR.

Responsible to report ethical concerns as needed to Associated Bank's anonymous Ethics Hotline.

Associated Bank provides additional assistance throughout the application, interview and hiring process. Please contactleavesandaccommodations@associatedbank.comif you need an accommodation at any time during the process.

Associated Banc-Corp participates in the E-Verify Program. E-Verify NoticeEnglish or Spanish. Know Your Right to WorkEnglishorSpanish.

Associated Bank isPay Transparencycompliant.


The pay range represents anticipated base pay for this role. Actual pay may vary based on factors including, but not limited to, work location, skills, experience, education, and qualifications for the role.


For certain positions, total compensation may also include incentive, commission, or bonus opportunities not reflected in the posted base pay range.


$141,890.00 - $243,240.00 per year

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