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

Xcel Energy

Security Risk Analyst

Minneapolis, MN · On-site

Manages cycle to reassess accepted risks, obtain sign-off, and provide reporting. * Assists ... Collaborates with senior and lead risk analysts on activities related to risk modeling ...

SECURE RPO LLC

Senior AI/Full Stack Engineer

Minneapolis, MN · On-site

$127K - $168K/yr

Familiarity with enterprise GenAI governance models, including model risk management and auditability. * Experience working in financial services or highly regulated industries. * Thought leadership ...

Compeer Financial

Pricing Specialist

Lakeville, MN · Hybrid

Supports model risk management for all Asset Liability Committee (ALCO)/pricing models, including contributing to individual model design and development, maintenance, documentation, and validations ...

Compeer Financial

Pricing Specialist

Lakeville, MN · On-site

Supports model risk management for all Asset Liability Committee (ALCO)/pricing models, including contributing to individual model design and development, maintenance, documentation, and validations ...

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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 Jul 14, 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 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 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
Associate Director, Insurance & Risk Management

Associate Director, Insurance & Risk Management

3M

Maplewood, MN • On-site

$221K - $270K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 27 days ago

3M rating

7.9

Company rating: 7.9 out of 10

Based on 241 frontline employees who took The Breakroom Quiz

157th of 527 rated manufacturers

Job description

Job Description:
Associate Director, Insurance & Risk Management
Collaborate with Innovative 3Mers Around the World
Choosing where to start and grow your career has a major impact on your professional and personal life, so it's equally important you know that the company that you choose to work at, and its leaders, will support and guide you. With a wide variety of people, global locations, technologies and products, 3M is a place where you can collaborate with other curious, creative 3Mers.
This position provides an opportunity to transition from other private, public, government or military experience to a 3M career.
The Impact You'll Make in this Role
As the Associate Director, Insurance & Risk Management, you will have the opportunity to tap into your curiosity and collaborate with some of the most innovative people around the world. Here, you will make an impact by:
  • Executing the organization's global insurance and risk management strategy, ensuring alignment with business objectives and enterprise risk frameworks.
  • Designing, implements, and manages international insurance strategies and programs, including global claims handling and captive insurance company utilization.
  • Own and execute significant insurance programs assigned, including developing renewal strategies and ensuring program structures are fit for purpose and in alignment with budget.
  • Conducting contract reviews and risk and insurance guidance to internal stakeholders.
  • Managing and leading Senior Analyst, Insurance & Risk Management.

Your Skills and Expertise
To set you up for success in this role from day one, 3M requires (at a minimum) the following qualifications:
  • Bachelor's degree or higher in Finance, Accounting, or Business Administration (completed and verified prior to start).
  • Ten (10) years of professional experience in corporate insurance, risk management, or related fields, with significant exposure to international programs in a private, public, government or military environment.

Additional qualifications that could help you succeed even further in this role include:
  • Strong knowledge of global insurance markets, multinational program structures, and international regulatory environments.
  • Experience managing complex claims across jurisdictions.
  • Proven ability to lead cross-functional initiatives.
  • Exceptional analytical, negotiation, and communication skills.
  • Professional certifications such as CPCU, ARM, CRM or similar accredited industry designations.

Work location:
  • Remote - This position has the possibility for remote work for candidates located more than 50-miles from 3M Global Headquarters in Maplewood, MN. For candidates located within a commutable distance to Maplewood, MN, this role follows an on-site working model, requiring the employee to work at least four days a week at the 3M Center in Maplewood, MN.

Travel: May include up to 10% domestic
Relocation: Is not authorized
Must be legally authorized to work in country of employment without sponsorship for employment visa status (e.g., H1B status).
Supporting Your Well-being
3M offers many programs to help you live your best life - both physically and financially. To ensure competitive pay and benefits, 3M regularly benchmarks with other companies that are comparable in size and scope.
Chat with Max
For assistance with searching through our current job openings or for more information about all things 3M, visit Max, our virtual recruiting assistant on 3M.com/careers.
Applicable to US Applicants Only:The expected compensation range for this position is $221,591 - $270,834, which includes base pay plus variable incentive pay, if eligible. This range represents a good faith estimate for this position. The specific compensation offered to a candidate may vary based on factors including, but not limited to, the candidate's relevant knowledge, training, skills, work location, and/or experience. In addition, this position may be eligible for a range of benefits (e.g., Medical, Dental & Vision, Health Savings Accounts, Health Care & Dependent Care Flexible Spending Accounts, Disability Benefits, Life Insurance, Voluntary Benefits, Paid Absences and Retirement Benefits, etc.). Additional information is available at: https://www.3m.com/3M/en_US/careers-us/working-at-3m/benefits/.
Good Faith Posting Date Range 06/13/2026 To 07/13/2026 Or until filled
All US-based 3M full time employees will need to sign an employee agreement as a condition of employment with 3M. This agreement lays out key terms on using 3M Confidential Information and Trade Secrets. It also has provisions discussing conflicts of interest and how inventions are assigned. Employees that are Job Grade 7 or equivalent and above may also have obligations to not compete against 3M or solicit its employees or customers, both during their employment, and for a period after they leave 3M.
Learn more about 3M's creative solutions to the world's problems at www.3M.com or on Instagram, Facebook, and LinkedIn @3M.
Responsibilities of this position include that corporate policies, procedures and security standards are complied with while performing assigned duties.
Safety is a core value at 3M. All employees are expected to contribute to a strong Environmental Health and Safety (EHS) culture by following safety policies, identifying hazards, and engaging in continuous improvement.
Pay & Benefits Overview: https://www.3m.com/3M/en_US/careers-us/working-at-3m/benefits/
3M does not discriminate in hiring or employment on the basis of race, color, sex, national origin, religion, age, disability, veteran status, or any other characteristic protected by applicable law.
Please note: your application may not be considered if you do not provide your education and work history, either by: 1) uploading a resume, or 2) entering the information into the application fields directly.
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Carefully read these Terms of Use before using this website. Your access to and use of this website and application for a job at 3M are conditioned on your acceptance and compliance with these terms.
Please click on the following links and select the country where you are applying for employment to review the applicable Terms of Use (link here) and Privacy Policy (link here). Before submitting your application, you will be asked to confirm your agreement with the terms.

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