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Model Risk Manager Jobs in Montclair, NJ (NOW HIRING)

American Express

Manager - Risk Management

Manhattan, NY · On-site

$98K - $150.25K/yr

We are seeking a skilled and detail-oriented professional to join our team as a model risk governance manager. Responsibilities for this role include overseeing and enhancing the organization's model ...

Customers Bank

Model Risk Management Intern

New York, NY · On-site

$16.50 - $22/hr

Build meaningful relationships across the bank through networking and team activities What you'll do - Model Risk Management: In addition to participating in the broader internship program, you'll ...

Merican

Context Engineer (Model Risk Focus)

New York, NY · On-site

$50 - $53/hr

TekWissen is a global workforce management provider headquartered in Ann Arbor, Michigan that ... Job Title: Context Engineer (Model Risk Focus) Location: NYC, NY, 10003 Duration: 6 months Rate ...

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Model Risk Manager information

See Montclair, NJ salary details

$52.5K

$113.7K

$173.2K

How much do model risk manager jobs pay per year?

As of May 31, 2026, the average yearly pay for model risk manager in Montclair, NJ is $113,678.00, according to ZipRecruiter salary data. Most workers in this role earn between $91,700.00 and $131,500.00 per year, depending on experience, location, and employer.

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 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 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 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 Montclair, NJ look for? The top searched job categories for Model Risk Manager jobs in Montclair, NJ are:
What cities near Montclair, NJ are hiring for Model Risk Manager jobs? Cities near Montclair, NJ with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Risk Management - Model Risk Governance and Review - Policy Vice President

Risk Management - Model Risk Governance and Review - Policy Vice President

JPMorgan Chase & Co

Manhattan, NY

Full-time

Medical, Retirement

Posted 6 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 467 frontline employees who took The Breakroom Quiz

46th of 141 rated banks

Job description

Bring your Expertise to JPMorgan Chase. As part of Risk Management and Compliance, you are at the center of keeping JPMorgan Chase strong and resilient. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Vice President in the Model Risk Governance and Review (MRGR) team, you will support model risk stakeholders in governance activities, manage model risk policies, and oversee technology and analytics development, ensuring effective risk management and compliance. You'll play a crucial role in responsibly growing the business by anticipating risks and solving real-world challenges. Our culture encourages innovative thinking and excellence. As part of the Model Risk Governance and Review (MRGR) team, you'll support model risk stakeholders in governance activities, manage model risk policies, and oversee technology and analytics development, ensuring effective risk management and compliance.

Job Responsibilities

  • Drive initiatives to enhance the model risk management framework, ensuring it is fit-for-purpose and can be efficiently executed by model risk stakeholders
  • Ensure changes are consistently reflected across all model risk framework components, including policy, procedures, templates, metric definitions, and reporting design
  • Serve as the primary contact for queries related to the model risk management framework
  • Innovatively redesign model risk management processes for operational excellence, managing multiple projects simultaneously
  • Collaborate with the infrastructure product team to align process and system designs
  • Triage and prioritize proposed enhancements, engaging with management and stakeholders to provide transparency in a clear and concise manner
  • Work closely with stakeholders in other teams/functions to gather feedback and promote consistency in model risk management practices
  • Maintain strong connections with other frameworks and controls within the firm to ensure comprehensive model risk management

Required qualifications, capabilities, and skills

  • Proven experience in developing and enhancing model risk management frameworks, along with expertise in process re-engineering
  • Demonstrated ability to juggle multiple priorities while ensuring clear and transparent decision-making
  • Strong analytical skills paired with strategic thinking abilities

  • Exceptional attention to detail and outstanding communication skills

Preferred qualifications, capabilities, and skills

  • Candidates with experience in model risk management, risk consulting, or roles focused on risk and control 
     
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process. 

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.

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