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Model Risk Manager Jobs in Phoenix, AZ (NOW HIRING)

The Opportunity As a dedicated Model Validator (Mid-Level) , you will execute model risk validation oversight for the life-cycle management of models which includes conducing model validation ...

The Opportunity As a dedicated Model Validator (Mid-Level) , you will execute model risk validation oversight for the life-cycle management of models which includes conducing model validation ...

Demonstrated experience working within a First Line of Defense model in a regulated financial ... Experience with risk management systems such as OpenPages preferred. Core Competencies Risk ...

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Model Risk Manager information

See Phoenix, AZ salary details

$51.1K

$110.8K

$168.8K

How much do model risk manager jobs pay per year?

As of Jun 20, 2026, the average yearly pay for model risk manager in Phoenix, AZ is $110,765.00, according to ZipRecruiter salary data. Most workers in this role earn between $89,400.00 and $128,100.00 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 job categories do people searching Model Risk Manager jobs in Phoenix, AZ look for? The top searched job categories for Model Risk Manager jobs in Phoenix, AZ are:
Infographic showing various Model Risk Manager job openings in Phoenix, AZ as of June 2026, with employment types broken down into 100% Full Time. Highlights an 50% In-person, and 50% Hybrid job distribution, with an average salary of $110,765 per year, or $53.3 per hour.
Data Scientist Lead - Model Development

Data Scientist Lead - Model Development

USAA

Phoenix, AZ

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 22 days ago


USAA rating

8.3

Company rating: 8.3 out of 10

Based on 251 frontline employees who took The Breakroom Quiz

34th of 141 rated banks


Job description

Why USAA?

At USAA, our mission is to empower our members to achieve financial security through highly competitive products, exceptional service and trusted advice. We seek to be the #1 choice for the military community and their families.

Embrace a fulfilling career at USAA, where our core values - honesty, integrity, loyalty and service - define how we treat each other and our members. Be part of what truly makes us special and impactful.

We are proud to support active-duty military spouses. USAA roles may offer remote or hybrid flexibility for active-duty military spouses consistent with applicable policy and business needs.

The Opportunity

The Data Scientist Lead will work closely with the Data Science Director to ensure that AI/ML modeling solutions are successfully developed and implemented. This will involve supervising multiple projects/initiatives, providing technical expertise, ensuring quality results, and mentor and leading Senior and Junior Data Scientists.

Through cross-team collaboration, the lead works to understand business problems to formulate and coordinate AI/ML solutions in the Consumer Lending, Bank Operations, and Automation space. A Lead Data Scientist is expected to have a consulting mentality and be a subject matter expert in model building, communication, and leadership.

This role is remote eligible in the continental U.S. with occasional business travel. However, individuals residing within a 60-mile radius of a USAA office will be expected to work on-site four days per week.

Relocation assistance is available for this position.

What you'll do:
  • Gathers, interprets, and manipulates complex structured and unstructured data to enable advanced analytical solutions for the business.

  • Leads and conducts advanced analytics leveraging machine learning, simulation, and optimization to deliver business insights and achieve business objectives.

  • Guides team on selecting the appropriate modeling technique and/or technology with consideration to data limitations, application, and business needs.

  • Develops and deploys models within the Model Development Control (MDC) and Model Risk Management (MRM) framework.

  • Composes and peer reviews technical documents for knowledge persistence, risk management, and technical review audiences.

  • Partners with business leaders from across the organization to proactively identify business needs and proposes/recommends analytical and modeling projects to generate business value. Works with business and analytics leaders to prioritize analytics and highly complex modeling. problems/research efforts.

  • Leads efforts to build and maintain a robust library of reusable, production-quality algorithms and supporting code, to ensure model development and research efforts are transparent and based on the highest quality data.

  • Assists team with translating business request(s) into specific analytical questions, executing analysis and/or modeling, and communicating outcomes to non-technical business colleagues with a focus on business action and recommendations.

  • Manages project portfolio milestones, risks, and impediments. Anticipates potential issues that could limit project success or implementation and escalates as needed.

  • Establishes and maintains best practices for engaging with Data Engineering and IT to deploy production-ready analytical assets consistent with modeling best practices and model risk management standards.

  • Interacts with internal and external peers and management to maintain expertise and awareness of cutting-edge techniques. Actively seeks opportunities and materials to learn new techniques, technologies, and methodologies.

  • Serves as a mentor to data scientists in modeling, analytics, computer science, business acumen, and other interpersonal skills.

  • Participates in enterprise-level efforts to drive the maintenance and transformation of data science technologies and culture.

  • Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.

What you have:

  • Bachelor's degree in mathematics, computer science, statistics, economics, finance, actuarial sciences, science and engineering, or other similar quantitative discipline; OR 4 years of experience in statistics, mathematics, quantitative analytics, or related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree.

  • 8 years of experience in a predictive analytics or data analysis OR Advanced Degree (e.g., Master's, PhD) in mathematics, computer science, statistics, economics, finance, actuarial sciences, science and engineering, or other similar quantitative discipline and 6 years of experience in predictive analytics or data analysis.

  • 6 years of experience in training and validating statistical, physical, machine learning, and other advanced analytics models.

  • 4 years of experience in one or more dynamic scripted language (such as Python, R, etc.) for performing statistical analyses and/or building and scoring AI/ML models.

  • Expert ability to write code that is easy to follow, well documented, and commented where necessary to explain logic (high code transparency).

  • Strong experience in querying and preprocessing data from structured and/or unstructured databases using query languages such as SQL, HQL, NoSQL, etc.

  • Strong experience in working with structured, semi-structured, and unstructured data files such as delimited numeric data files, JSON/XML files, and/or text documents, images, etc.

  • Excellent demonstrated skill in performing ad-hoc analytics using descriptive, diagnostic, and inferential statistics.

  • Proven ability to assess and articulate regulatory implications and expectations of distinct modeling efforts.

  • Project management experience that demonstrates the ability to anticipate and appropriately manage project milestones, risks, and impediments. Demonstrated history of appropriately communicating potential issues that could limit project success or implementation.

  • Expert level experience with the concepts and technologies associated with classical supervised modeling for prediction such as linear/logistic models, discriminant analysis, support vector machines, decision trees, forest models, etc.

  • Expert level experience with the concepts and technologies associated with unsupervised modeling such as k-means clustering, hierarchical/agglomerative clustering, neighbors algorithms, DBSCAN, etc.

  • Demonstrated experience in guiding and mentoring junior technical staff in business interactions and model building.

  • Demonstrated ability to communicate ideas with team members and/or business leaders to convey and present very technical information to an audience that may have little or no understanding of technical concepts in data science.

  • A strong track record of communicating results, insights, and technical solutions to Senior Executive Management (or equivalent).

  • Extensive technical skills, consulting experience, and business savvy to interface with all levels and disciplines within the organization.

What sets you apart:

  • Extensive model building experience (preferably in banking) covering a variety of AI/ML and traditional statistical modeling approaches.

  • Extensive hands-on experience preparing data and code for modeling.

  • Experience with the entire model lifecycle, including conceptualization, development, implementation, validation, and ongoing performance monitoring.

  • Experience working directly with clients, customers, or internal business partners.

  • Experience leading client or customer relationships and expectations, including senior leadership.

Compensation range: The salary range for this position is: $164,780 - $314,960.

USAA does not provide visa sponsorship for this role. Please do not apply for this role if at any time (now or in the future) you will need immigration support (i.e., H-1B, TN, STEM OPT Training Plans, etc.).

Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position. The actual salary for this role may vary by location.

Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.

The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.


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