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

Jump Trading

Risk Manager | Equities

New York, NY · On-site

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 ...

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 · On-site

$150K - $200K/yr

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 ...

Deloitte

Financial Risk Manager

New York, NY · On-site

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

Morgan Stanley

Market Risk Analyst

New York, NY · Hybrid

$75K - $95K/yr

The MRA group develops, maintains and monitors the performance of market risk (VaR, Stressed VaR, IRC and CRM) and stress testing models (including market shocks for scenario design, stress loss) for ...

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All JobsModel Risk Manager JobsModel Risk Manager Jobs in Norwalk, CT

Model Risk Manager information

See Norwalk, CT salary details

$51.7K

$112K

$170.6K

How much do model risk manager jobs pay per year?

As of Jun 9, 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.
What are popular job titles related to Model Risk Manager jobs in Norwalk, CT? For Model Risk Manager jobs in Norwalk, CT, the most frequently searched job titles are:
What job categories do people searching Model Risk Manager jobs in Norwalk, CT look for? The top searched job categories for Model Risk Manager jobs in Norwalk, CT are:
What cities near Norwalk, CT are hiring for Model Risk Manager jobs? Cities near Norwalk, CT with the most Model Risk Manager job openings:
Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Norwalk, CT as of May 2026, with employment types broken down into 66% Full Time, 32% Part Time, and 2% Contract. Highlights an 91% Physical, 3% Hybrid, and 6% Remote job distribution, with an average salary of $111,977 per year, or $53.8 per hour.

Risk Manager, Convertible Bond

Millennium Management LLC

New York, NY • On-site

$160K - $250K/yr

Full-time

Posted 18 days ago

Millennium Management rating

7.7

Company rating: 7.7 out of 10

Based on 11 frontline employees who took The Breakroom Quiz

Job description

Risk Manager, Convertible Bond
The Firm seeks a Risk Manager to join its Risk Management team in New York. The successful candidate will oversee the independent risk management of convertible bond portfolios in the United States, Europe, and Asia.
Primary responsibilities include:
  • Own independent risk oversight: Oversee global convertible bond portfolios, with a clear view of exposures across delta, gamma, vega, credit spread, rates, borrow, financing, liquidity, and correlation.
  • Analyze P&L and risk: Analyze risk drivers, P&L attribution, hedging efficiency, scenario behavior, and tail outcomes.
  • Develop and oversee risk guidelines: Establish guidelines for portfolio construction, concentration, liquidity, gap risk, financing, and drawdown. Ensure mandates are defined, scalable, and consistently observed.
  • Review trade and portfolio construction: Review positions with close attention to bond terms, embedded optionality, capital structure, stock borrow, dividends, corporate actions, financing assumptions, and event risk. Assess both directional and relative-value risk.
  • Review portfolio risk: Work closely with portfolio managers to assess positions where risk may be mispriced, crowded, imperfectly hedged, or less aligned with mandate, liquidity, or market regime.
  • Evaluate portfolio manager candidates: Assess prospective Portfolio Manager candidates by testing the strength of their process, risk discipline, hedging approach, portfolio construction, and historical returns.
  • Improve risk infrastructure: Enhance the Firm's models, systems, and reporting for convertible bond risk. Work with quantitative researchers and technologists to improve valuation, stress testing, exposure decomposition, and real-time reporting.
  • Communicate with precision: Present key exposures, stress results, and changes in market structure clearly to senior leadership and investment teams.
  • Monitor global market developments: Track issuance, liquidity, market structure, and regional differences in the U.S., Europe, and Asia that may affect risk-taking and portfolio construction.

Required Qualifications & Skills
Experience
  • At least eight years of experience in risk management, trading, structuring, or desk strategy, with significant exposure to convertible bonds, equity-linked products, or relative-value strategies.
  • Deep knowledge of convertible bonds and their key risk drivers, including equity sensitivity, credit spread risk, volatility, rates, dividend assumptions, borrow cost, financing, and liquidity.
  • Strong understanding of how convertible bonds interact with related instruments, including cash equities, listed and OTC equity derivatives, corporate bonds, CDS, and capital-structure hedges.
  • Demonstrated ability to oversee day-to-day portfolio risk while leading complex strategic projects.
  • Experience in trading, structuring, or portfolio construction is highly desirable, though this is a dedicated risk management role.
  • Experience across U.S., European, and Asian convertible markets is strongly preferred.

Skills & Knowledge
  • Quantitative and programming skills: Strong quantitative and programming skills, including Python and SQL, for data analysis, model development, and automation.
  • Valuation and risk modeling: Strong understanding of derivative pricing, asset pricing, financial econometrics, and risk techniques relevant to convertible bonds and equity-linked products.
  • Market judgment: Sound judgment in assessing portfolio risk under normal and stressed conditions, including gap risk, short squeezes, credit events, volatility shocks, and liquidity deterioration.
  • Communication: Excellent written and verbal communication skills, with the ability to build effective relationships with portfolio managers, traders, quantitative researchers, and senior stakeholders.

Education
  • A degree in a quantitative discipline, such as Finance, Economics, Engineering, Mathematics, or Computer Science.
  • A graduate degree is strongly preferred.

The estimated base salary range for this position is $160,000 to $250,000, which is specific to New York and may change in the future. Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. When finalizing an offer, we take into consideration an individual's experience level and the qualifications they bring to the role to formulate a competitive total compensation package.

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