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Model Risk Manager Jobs in Midlothian, VA (NOW HIRING)

Genworth Financial

Actuary, Model Risk

Richmond, VA · On-site +1

$115K - $135K/yr

YOUR ROLE As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth ...

Genworth

Actuary, Model Risk

Richmond, VA · On-site

$169K/yr

YOUR ROLE As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth ...

Brookfield

Risk Analyst

Richmond, VA · On-site

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 ...

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Model Risk Manager information

See Midlothian, VA salary details

$48.8K

$105.7K

$161K

How much do model risk manager jobs pay per year?

As of Sep 11, 2026, the average yearly pay for model risk manager in Midlothian, VA is $105,681.00, according to ZipRecruiter salary data. Most workers in this role earn between $85,300.00 and $122,200.00 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 are popular job titles related to Model Risk Manager jobs in Midlothian, VA?

For Model Risk Manager jobs in Midlothian, VA, the most frequently searched job titles are:

What job categories do people searching Model Risk Manager jobs in Midlothian, VA look for?

The top searched job categories for Model Risk Manager jobs in Midlothian, VA are:

What cities near Midlothian, VA are hiring for Model Risk Manager jobs?

Cities near Midlothian, VA with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Midlothian, VA as of August 2026, with employment types broken down into 84% Full Time, 12% Part Time, 3% Temporary, and 1% Contract. Highlights an 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $105,681 per year, or $50.8 per hour.

Actuary, Model Risk

Richmond, VA • On-site

Genworth Financial, Inc.
Insurance Services • 1 - 5K employees
Learn more about Genworth Financial, Inc.external

Full-time

Medical, Life, Retirement, PTO

Re-posted 20 days ago

Genworth Financial rating

8.5

Company rating: 8.5 out of 10

Based on 7 frontline employees who took The Breakroom Quiz

Job description

At Genworth, we empower families to navigate the aging journey with confidence. We are compassionate, experienced allies for those navigating care with guidance, products, and services that meet families where they are. Further, we are the spouses, children, siblings, friends, and neighbors of those that need care-and we bring those experiences with us to work in serving our millions of policyholders each day.
We apply that same compassion and empathy as we work with each other and our local communities. Genworth values all perspectives, characteristics, and experiences so that employees can bring their full, authentic selves to work to help each other and our company succeed. We celebrate our diversity and understand that being intentional about inclusion is the only way to create a sense of belonging for all associates. We also invest in the vitality of our local communities through grants from the Genworth Foundation, event sponsorships, and employee volunteerism.
Our four values guide our strategy, our decisions, and our interactions:
  • Make it human. We care about the people that make up our customers, colleagues, and communities.
  • Make it about others. We do what's best for our customers and collaborate to drive progress.
  • Make it happen. We work with intention toward a common purpose and forge ways forward together.
  • Make it better. We create fulfilling purpose-driven careers by learning from the world and each other.

POSITION TITLE
Actuary, Model Risk
LOCATION
Richmond, VA
Remote US (Eastern or Central Time Zones)
This position is available to Virginia residents as Richmond, Virginia in-office applicants
*A Hybrid schedule of both Remote and In-Office days is required. In office days are Tuesday, Wednesday and Thursday with working hours targeting our core business hours of 9am-5pm EST.
This position is available to remote applicants residing in states/locations under Eastern or Central Standard Time: Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington DC, West Virginia or Wisconsin.
* A Hybrid schedule of both Remote and In-Office days would be required if you reside within 50 miles of a Genworth | CareScout office with working hours targeting our core business hours of 9am-5pm EST.
YOUR ROLE
As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth's Investment and Corporate functions. You will lead independent model validations, partner with model owners and business leaders, and help advance best-in-class model risk management practices across the enterprise.
What you will be doing
  • Lead independent model validations for actuarial, finance, investment, and data science models
  • Validate that models are fit for purpose and functioning as expected based on their design, input data, methodology, and output
  • Provide effective challenge on model rationale, reliability, stability, robustness, and limitations
  • Identify model issues, confirm their resolution, and document validation findings for both technical and non-technical audiences
  • Collaborate with model owners, developers, and business leaders to deliver independent, value-added model risk management
  • Assess the enterprise's inherent and residual exposure to model risk based on its business processes, and risk management strategies
  • Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance
  • Improve the efficiency and efficacy of existing model risk management processes
  • Share industry knowledge, best practices, and notable validation findings with the Model Risk Team

What you bring
  • Bachelor's Degree in a quantitative discipline
  • Fellow of Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA); FSA preferred
  • 7+ years of relevant experience within the Life, Annuity, or LTC insurance industries
  • 3+ years of experience developing actuarial models in an actuarial software platform (Moody's AXIS or MG-ALFA/Integrate preferred)
  • Proficiency in SQL or programming languages such as Python, R, or SAS
  • Familiarity with actuarial valuation, projections, experience study or pricing models
  • Interest in adopting and building AI tools to improve how we work
  • Ability to document models, processes, and validation findings for technical and non-technical audiences
  • Ability to work independently, take ownership of projects, and self-study unfamiliar topics

Nice to have
  • Master's degree in a quantitative discipline
  • CERA designation
  • Familiarity with predictive analytics, statistical techniques, or AI/machine learning models
  • Experience with using AI tools to improve processes and boost productivity

Employee Benefits & Well-Being
Genworth employees make a difference in people's lives every day. We're committed to making a difference in our employees' lives.
  • Competitive Compensation & Total Rewards Incentives
  • Comprehensive Healthcare Coverage
  • Multiple 401(k) Savings Plan Options
  • Auto Enrollment in Employer-Directed Retirement Account Feature (100% employer-funded!)
  • Generous Paid Time Off - Including 12 Paid Holidays, Volunteer Time Off and Paid Family Leave
  • Disability, Life, and Long Term Care Insurance
  • Tuition Reimbursement, Student Loan Repayment and Training & Certification Support
  • Wellness support including gym membership reimbursement and Employee Assistance Program resources (work/life support, financial & legal management)
  • Caregiver and Mental Health Support Services

ADDITIONAL
  • At this time, Genworth will not sponsor a new applicant for employment authorization for this position.

National Range: $109,00 - 169,000
High-Cost Range (includes New York): $115,900 - $220,200
Disclaimer: This role is aligned to a national market-based pay range. Actual compensation will vary based on geographic location, experience, skills, and other job-related factors. In addition to base salary, this role is eligible to participate in a bonus incentive plan. Incentive compensation is based on individual and company performance and is not guaranteed.

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