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

US Bank

Head of AI Delivery

Minneapolis, MN · On-site

$221K/yr

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory ... Experience managing large, cross-functional teams across business, technology, and risk disciplines ...

U.S. Bank

Head of AI Delivery

Minneapolis, MN · On-site

$221K/yr

Strong knowledge of Responsible AI, model risk, governance, privacy, security, and regulatory ... Experience managing large, cross-functional teams across business, technology, and risk disciplines ...

JLL

Senior Director - Special Assets

Saint Paul, MN · On-site

Deliver regular reporting and risk insights to senior leadership and asset management teams ... Strong analytical and financial modeling skills * Workout experience preferred, but not required

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 ...

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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 Aug 19, 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.

Head of Enterprise Risk Managment & Security

Minnesota Historical Society

Saint Paul, MN • On-site

$86K - $108K/yr

Full-time

Retirement, PTO

Posted 8 days ago

Job description

JOB TITLE: Head of Enterprise Risk Management & Security


LOCATION: History Center - 345 W Kellogg Blvd., St. Paul, MN 55102


COMPENSATION: Typical starting range $86,840 - $108,555 annually, commensurate with experience.


STATUS & HOURS: Full-Time, regular (approximately 40 weekly, 2080 annual hours) position.


BENEFITS: Eligible to participate in State Employee Group Insurance Program and a retirement program with employer contribution.

Generous vacation and sick time accruals with additional paid holidays.


DESIGNATION: Supervisory


POSTING DATE: August 11, 2026


DEADLINE DATE: Open until filled, Priority given to applications received by August 26, 2026.


TO APPLY: Interested applicants must apply online at the Minnesota Historical Society’s career center at www.mnhs.org/jobs

and include a resume and cover letter by the application deadline date.


DESCRIPTION: This position exists to provide leadership, strategic design, and professional administration for the Minnesota Historical Society’s (MNHS) Enterprise Risk Management (ERM), compliance, and security programs. The Head of Enterprise & Risk Management is responsible for developing, implementing, and maintaining risk management strategies that protect MNHS staff, visitors, collections, facilities, information, and reputation across the organization.


Working within the Shared Services division, this position leads risk assessment, policy development, compliance initiatives, emergency preparedness planning, security operations, and cybersecurity governance. This position works collaboratively across MNHS to identify risks, implement mitigation strategies, support organizational resilience, and ensure compliance with applicable policies, standards, and regulations.


SUMMARY OF WORK: 1) Lead and coordinate enterprise risk management programs to identify, assess, and mitigate organizational risks. 2) Provide guidance and recommendations related to cybersecurity risk, data management, and information protection programs in collaboration with Technology Services. 3) Lead physical security, emergency preparedness, and business continuity programs across MNHS. 4) Provide leadership, direction, and oversight for assigned staff and departmental resources.



Minimum Qualifications:

  • Bachelor’s degree in Emergency Management, Business Administration, Criminal Justice, Information Security, Corporate Risk, or a functionally parallel field.

  • Eight years of progressively responsible experience in risk management, security, emergency management, compliance, business continuity, cybersecurity, or related fields.

  • Three years of direct supervisory experience leading multi-tiered protective or compliance-driven teams.

  • Proven understanding of modern Enterprise Risk Management frameworks, risk register tracking models, and key risk indicator (KRI) data collection.

  • Demonstrated ability to coordinate multi-faceted financial budgets, optimizing daily operational expenditures alongside capital infrastructure allocations.

  • Ability to maintain a flexible operational schedule, responding to emergency on-call notices or weekend security demands as necessary.

  • Possession of a valid driver's license and a willingness to travel regularly to historical landmarks, libraries, and museum properties statewide.


Desired Qualifications:

  • Possession of specialized risk or protection credentials, including but not limited to: Certified Institutional Protection Manager (CIPM), Certified Protection Professional (CPP), Associate in Risk Management (ARM), or Professional in Risk Management (PRM).

  • Prior experience working within preservation facilities, historical societies, cultural complexes, university networks, or museums housing archival artifacts.

  • Familiarity with evaluating automated cloud architecture security parameters, software vendor risk assessments, and the structural application of NIST CSF standards.



Should you have questions with the application process, email humanresources@mnhs.org or call MNHS Job Line at 651-259-3181.


At MNHS, we don’t just accept difference — we celebrate it, we support it, and we thrive on diversity for the benefit of our employees, our products and services, and our community. The Minnesota Historical Society believes that an inclusive culture among our team members is critical to our success as a historical society and museum, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool. The Minnesota Historical Society is proud to be an equal opportunity workplace and employer.