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

Fortitude Re

VP, L&A Risk

Jersey City, NJ · Hybrid

This role supports the Life & Annuity Risk and Model Risk Management Teams in second line risk oversight of a $100bn long-term reinsurance business and the ALM models that at the intersection of ...

Us Bank

Senior Market Risk Manager

Manhattan, NY · On-site

This individual will provide hands‑on support for risk identification, risk analytics, model performance monitoring, limit oversight, regulatory reporting, and senior management governance ...

US Bank

Senior Market Risk Manager

New York, NY

This individual will provide hands-on support for risk identification, risk analytics, model performance monitoring, limit oversight, regulatory reporting, and senior management governance materials.

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Manhattan, NY

Model Risk Manager information

See Manhattan, NY salary details

$56.8K

$123.1K

$187.6K

How much do model risk manager jobs pay per year?

As of Sep 13, 2026, the average yearly pay for model risk manager in Manhattan, NY is $123,116.00, according to ZipRecruiter salary data. Most workers in this role earn between $99,300.00 and $142,400.00 per year, depending on experience, location, and employer.

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 skills and qualifications are needed to be a model risk manager?

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 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 job categories do people searching Model Risk Manager jobs in Manhattan, NY look for?

The top searched job categories for Model Risk Manager jobs in Manhattan, NY are:

What cities near Manhattan, NY are hiring for Model Risk Manager jobs?

Cities near Manhattan, NY with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Manhattan, NY as of August 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $123,116 per year, or $59.2 per hour.

Associate, Model Risk

Jersey City, NJ • On-site

Sumitomo Mitsui Financial Group, Inc.
See more jobs at Sumitomo Mitsui Financial Group, Inc.external

$112K - $135K/yr

Full-time

This job post has expired 4 days ago. Applications are no longer accepted.

Key responsibilities

  • Conduct end-to-end validations and review of BSA/AML/Fraud models using languages and software including SQL, Python/R, and Hadoop.

  • Identify financial model deficiencies through validations, communicate issues with model owners and senior management, and provide recommendations.

  • Develop and maintain documentation templates, testing packages, and automation tools to standardize validation processes.

Job description

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $112,778.00 and $135,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Objectives
  • Conduct end-to-end validations and review of BSA/AML/Fraud models utilizing languages and software including SQL, Python/R and Hadoop. Perform assessment on financial model risk based on conceptual soundness, data quality, model/scenarios design, model usage, model implementation, model performance, model control, and ongoing performance monitoring.
  • Identify financial model deficiencies through validations, communicate issues with model owners and senior management, and provide feasible and adequate recommendations.
  • Develop and maintain documentation templates, testing packages and automation tools and scripts to standardize validation processes.

Hybrid remote work permitted.
Qualifications and Skills
  • Master's degree in financial engineering, mathematics or a related field plus 3 years of experience.
  • Special skills: advanced data science & financial data engineering (cleanse/parse/restructure/validate); advanced programming languages, including SQL and Python or R, for statistical analysis, data manipulation, and independent model replication testing; statistical testing methodologies, machine learning techniques, data segmentation methods, and stress and sensitivity analysis; model risk management frameworks, including regulatory guidance such as SR 11 7, and the ability to apply documentation standards for model development, validation, and governance; and strong understanding of the financial services industry and business lines.
  • The required skill set does not need to be maintained over the full term of the required experience.

The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
For benefit information, please see the Careers page
SMBC's employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

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