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Model Risk Manager Jobs in Minneapolis, MN (NOW HIRING)

US Bank

Change Enablement Lead

Minneapolis, MN · Hybrid

Interfaces with enterprise risk and compliance programs such as PRISM, Third Party Risk Management, Model Risk, and other Corporate Functions Risk programs * Enables consistent application of change ...

New

US Bank

Data Scientist

Minneapolis, MN · On-site

Understanding of machine learning methodologies, algorithms, and model lifecycle management * Experience collaborating with governance, compliance, validation, or risk management partners * Strong ...

Us Bank

Data Scientist

Minneapolis, MN · On-site

Understanding of machine learning methodologies, algorithms, and model lifecycle management * Experience collaborating with governance, compliance, validation, or risk management partners * Strong ...

Huntington

Enterprise Architect (IT)

Minnetonka, MN · On-site +1

$70.25 - $90.75/hr

Familiarity with technology risk management, operational resilience, data privacy, vendor governance, audit, or regulatory examination support. * Familiarity with AI governance, model risk ...

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Minneapolis, MN

Model Risk Manager information

See Minneapolis, MN salary details

$53.8K

$116.4K

$177.4K

How much do model risk manager jobs pay per year?

As of Sep 11, 2026, the average yearly pay for model risk manager in Minneapolis, MN is $116,442.00, according to ZipRecruiter salary data. Most workers in this role earn between $93,900.00 and $134,600.00 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 Minneapolis, MN?

For Model Risk Manager jobs in Minneapolis, MN, the most frequently searched job titles are:

What job categories do people searching Model Risk Manager jobs in Minneapolis, MN look for?

The top searched job categories for Model Risk Manager jobs in Minneapolis, MN are:

What cities near Minneapolis, MN are hiring for Model Risk Manager jobs?

Cities near Minneapolis, MN with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Minneapolis, MN as of August 2026, with employment types broken down into 86% Full Time, 12% Part Time, and 2% Contract. Highlights an 84% Physical, 2% Hybrid, and 14% Remote job distribution, with an average salary of $116,442 per year, or $56 per hour.

Integration and Automation Leader - Credit Risk Modeling

Minneapolis, MN • On-site

US Bank
Banking and Credit Intermediation • 10K+ employees
Learn more about US Bankexternal

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 27 days ago

Key responsibilities

  • Partner with technology to lead automation initiatives and redesign processes across the model lifecycle, including development, implementation, production, monitoring, and reporting.

  • Develop and maintain reusable code libraries, automated data pipelines, and containerized environments to support scalable and repeatable model operations.

  • Lead the selection, onboarding, and maintenance of technology tools and platforms used in credit risk model development and operations.

U.S. Bank rating

8.1

Company rating: 8.1 out of 10

Based on 364 frontline employees who took The Breakroom Quiz

Job description

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description
Job Description

We are looking for a strategic and results-driven quantitative leader to lead partnering with technology and lead automation initiatives within the Credit Risk Model Operations and Strategy team, as part of the Model Development and Decision Science (MDDS) organization. This role will focus on redesigning and optimizing key processes across the model lifecycle-including implementation, production, and performance monitoring-as we migrate from SAS to Azure Databricks and Python.

About the CRA Team

We are a highly dynamic and talented team which delivers on our mission through four pillars: Customer, Process, Talent, and Data.

Vision | We create the future of credit risk management through data, analytics, and risk process innovation for our customers.

Mission | We deliver data-driven information solutions to protect our stakeholders and inform the most significant financial decisions in the bank.

Values | In addition to U.S. Bank core values, we prioritize collaboration, integrity, simplicity, and continuous learning.

About the Role

We are seeking a strategic and technically skilled leader to partner with technology and drive automation within the Credit Risk Model Development and Decision Science (MDDS) team. This role will focus on enhancing model production, model monitoring, model implementation, reporting, and documentation capabilities through the development and maintenance of reusable code libraries, robust data source connections, containerized environments, testing and execution pipelines. The leader will also lead evaluation, selection, onboarding, and lifecycle maintenance of any third-party tools and platforms leveraged by the Credit Risk Model Development and Decision Science (MDDS) team. You will be responsible for designing systems and processes for model development, production, monitoring, and implementation. The models support loan portfolio stress testing (CCAR), the allowance for credit losses (ACL / CECL), counterparty risk, and commercial risk rating scorecards. The ideal candidate will have hands-on experience in system design, a strong foundation in data science, and proficiency in quantitative programming languages.

Key Activities

This role centers on helping our team migrate our model infrastructure from SAS to Azure Databricks and Python. The emphasis is on building strong architectural foundations that support repeatable processes, improve efficiency, and facilitate automation. This role will partner with technology to lead the selection, onboarding, and maintenance of technology tools and platforms used in model operations and redesigning processes to be modular, scalable, and well-controlled.

The processes in scope for this role include:

  • Model development - build repeatable, standardized processes and tools for model development.

  • Implementation - scalable tools to onboard models into production.

  • Production - platforms for executing models for core production purposes.

  • Monitoring - automated systems to track and assess model performance.

  • Reporting - integrations and pipelines for dashboards and formatted output delivery.

Core Competencies:

  • Strong understanding of technology including fundamental software engineering principles, automation tools, cloud-based tools and infrastructure, database systems, and dashboard/visualization tools particularly in support of modeling /quantitative platforms.

  • Exceptional leadership skills and ability to drive initiatives that span multiple teams and stakeholders.

  • A mindset for collaboration, customer centricity, and risk management.

  • Experience with risk modeling and data at large regulated financial institutions.

  • Familiarity with AI-driven tools and automation platforms (e.g., Microsoft Copilot, Microsoft Power Platform) to streamline data operations and accelerate data delivery.

Innovation & Automation Leadership

  • Design, build, and maintain reusable code libraries and frameworks to support model development, implementation, production and monitoring activities.

  • Partner with technology to lead the selection, onboarding, and maintenance of technology tools and platforms used in model operations.

  • Develop and manage automated data pipelines and containerized environments (e.g., Docker, Kubernetes) for scalable data processing, model operations.

  • Implement orchestration tools (e.g., Apache Airflow) to streamline model operations workflows, reporting, and documentation.

Training & Enablement

  • Develop and deliver onboarding programs for new team members, focusing on tooling, infrastructure, and best practices.

  • Provide ongoing training and support to ensure effective use of automation tools and libraries.

  • Foster a culture of continuous learning and innovation within the team.

Stakeholder Engagement

  • Partner with model developers and model operations to assess and meet their technological needs in a timely and effective manner.

  • Contribute to reporting and presentations for senior management and risk committees.

Basic Qualifications
- Bachelor's degree (MA/MS/PhD strongly preferred) and eight or more years of relevant experience
- Four or more years of experience leading a quantitative modeling team

Preferred Skills/Experience

  • Object-oriented python programming

  • Databricks experience required in model development, model production, and/or model monitoring.

  • Relational databases, SQL query optimization

  • Code management and version control using Git

  • AI/ML and generative AI approaches

  • Strong project management and organizational skills

LOCATION EXPECTATIONS: This role requires working from a U.S. Bank Location three (3) or more days per week.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to ourdisability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

  • Healthcare (medical, dental, vision)

  • Basic term and optional term life insurance

  • Short-term and long-term disability

  • Pregnancy disability and parental leave

  • 401(k) and employer-funded retirement plan

  • Paid vacation (from two to five weeks depending on salary grade and tenure)

  • Up to 11 paid holiday opportunities

  • Adoption assistance

  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about theE-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $149,515.00 - $175,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

What U.S. Bank employees say

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About U.S. Bank

Sourced by ZipRecruiter

U.S. Bank is a reputable and established financial institution that plays a significant role in the banking sector. With a history spanning over 150 years, U.S. Bank has built a strong foundation of trust and reliability. As a comprehensive bank, they offer a wide array of financial products and services to cater to the diverse needs of their customers, including individuals, businesses, and communities. Customer satisfaction is of utmost importance to U.S. Bank. They prioritize delivering exceptional service and fostering long-term relationships with their clients. Through their extensive network of branches and advanced digital banking platforms, U.S. Bank ensures convenient access to their services, empowering customers to manage their finances efficiently and securely.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

Year founded

1863

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