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Model Risk Manager Jobs in Norwalk, CT (NOW HIRING)

Gemini

Manager, Enterprise Risk

New York, NY · On-site

Model Risk Management * Serve as a key stakeholder and subject matter expert in the firm's model risk governance program * Partner with Quantitative Research, Data Science, and Finance teams to ...

Synchrony Financial

AVP, Model Validation

Stamford, CT · On-site

The AVP, Model Validation is responsible for model validation and ensure they are meeting Model Risk Management policies, standards, procedures as well as regulations (OCC2011-12/SR 11-7). This role ...

Robert Half

AI Risk & Compliance Analyst

New York, NY · On-site

$65 - $75/hr

AI governance, Responsible AI, AI risk assessment, AI compliance, or model risk management * Strong understanding of: * AI/ML risks, data governance, privacy regulations, and emerging AI regulatory ...

Deloitte

Financial Risk Manager

Stamford, CT

Financial Services Manager - Financial Risk Our Deloitte Regulatory, Risk & Forensic team helps ... Knowledge of financial services business models, products, and services * Experience in banking ...

Jump Trading

Risk Manager | Equities

New York, NY

As a Risk Manager, you will be part of Jump Trading's Global Risk Management team. The department ... Factor literacy: experience consuming outputs from factor models (e.g., Barra, Axioma) and common ...

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Model Risk Manager information

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$51.7K

$112K

$170.6K

How much do model risk manager jobs pay per year?

As of Jun 21, 2026, the average yearly pay for model risk manager in Norwalk, CT is $111,977.00, according to ZipRecruiter salary data. Most workers in this role earn between $90,300.00 and $129,500.00 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.
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Model Risk Manager jobs near you
Model Risk, Asset Liability Management (Risk Management) : Job Level - Associate

Model Risk, Asset Liability Management (Risk Management) : Job Level - Associate

Morgan Stanley

New York, NY

$100K - $140K/yr

Full-time

Posted 19 days ago

Morgan Stanley rating

8.3

Company rating: 8.3 out of 10

Based on 147 frontline employees who took The Breakroom Quiz

39th of 138 rated financial services

Job description

Firm Risk Management
Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.
Background on the Position
This role resides within Firm Risk Management's Model Risk Management (MRM) group, which is responsible for oversight of models and tools risk across the Firm. The position focuses specifically on models used by Treasury-including Interest Rate Risk in the Banking Book (IRRBB), liquidity and funding-related models, and other Treasury analytical tools. The role is suited for individuals with strong quantitative skills, attention to detail, and an interest in financial risk management, markets, and balance sheet dynamics.
Primary Responsibilities
Conduct independent review and validation of Treasury and IRRBB models and tools, including methodologies supporting Net Interest Income (NII). The responsibility will also include developing deep understanding of Economic Value of Equity (EVE), behavioral models, interest rate risk methods, prepayment/decay models, term structure methodologies, liquidity modeling tools, and other Treasury analytics.
Review models supporting stress testing, ICAAP, and other internal/external exercises, ensuring conceptual soundness, appropriateness of assumptions, and robustness of implementation.
Support development and execution of MRM independent testing frameworks in accordance with regulatory expectations
Perform quantitative testing, including sensitivity analyses, benchmarking, backtesting, and performance monitoring.
Stay current on regulatory guidance, market trends, and macro/micro themes relevant to Treasury model risks.
Prepare clear and well structured validation reports for internal stakeholders (model developers, internal audit) and external regulators.
Communicate validation results and methodological assessments effectively to internal audiences, including senior management. Firm Risk Management Master's degree in a quantitative or finance related discipline (e.g., Mathematical Finance, Statistics, Physics, Operations Research) preferred; Bachelor's degree with relevant experience considered.
Strong statistical and quantitative skills - e.g., regression, time series, stochastic processes, Monte Carlo methods is preferred.
Familiarity with financial risk modeling techniques and software like QRM, particularly those used in IRRBB, balance sheet management, and liquidity/treasury models.
Programming proficiency in Python, SQL, or similar analytical tools.
Prior experience developing or validating models related to IRRBB, Treasury, liquidity, or Asset Liability Management is a plus.
Knowledge of regulatory expectations for model risk management (e.g., SR 11-7) is advantageous.
Ability to work in a collaborative, dynamic environment with a mix of technical and market oriented tasks.
Progress toward professional certifications such as CFA or FRM is beneficial.
FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that's differentiated - and we've done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Expected base pay rates for the role will be between $100,000 and $140,000 year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.

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