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Model Risk Manager Jobs in Saint Paul, MN (NOW HIRING)

US Bank

Head of AI Delivery

Minneapolis, MN

$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

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All JobsModel Risk JobsModel Risk Manager JobsModel Risk Manager Jobs in Saint Paul, MN

Model Risk Manager information

See Saint Paul, MN salary details

$52.1K

$112.8K

$171.9K

How much do model risk manager jobs pay per year?

As of Aug 16, 2026, the average yearly pay for model risk manager in Saint Paul, MN is $112,826.00, according to ZipRecruiter salary data. Most workers in this role earn between $91,000.00 and $130,500.00 per year, depending on experience, location, and employer.

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 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 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 Saint Paul, MN?

For Model Risk Manager jobs in Saint Paul, MN, the most frequently searched job titles are:

What job categories do people searching Model Risk Manager jobs in Saint Paul, MN look for?

The top searched job categories for Model Risk Manager jobs in Saint Paul, MN are:

What cities near Saint Paul, MN are hiring for Model Risk Manager jobs?

Cities near Saint Paul, MN with the most Model Risk Manager job openings:

Model Risk Manager jobs near you
Infographic showing various Model Risk Manager job openings in Saint Paul, MN as of August 2026, with employment types broken down into 85% Full Time, 14% Part Time, and 1% Contract. Highlights an 84% Physical, 2% Hybrid, and 14% Remote job distribution, with an average salary of $112,482 per year, or $54.1 per hour.

Senior Manager, CUSO FC Governance

Royal Bank of Canada

Minneapolis, MN • On-site

$90K - $160K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 18 days ago

Job description

Job Description
What is the opportunity?
The Senior Manager will support the Director, CUSO FC Governance in the ongoing operation of the Combined U.S. Operations ("CUSO") Financial Crimes regulatory compliance management, operational risk, reporting, and governance functions. This role will have accountability for performing the CUSO FC Governance functions in ensuring the regional execution of the Enterprise Financial Crimes Risk Management Framework and related policies, standards, and methodologies.
What will you do?
  • Coordinate, in collaboration with the U.S. BSA AML Officers, the CUSO oversight of the FC Target Operating Model (TOM).
  • Manage the production of entity-level and Combined U.S. Operations (CUSO) Financial Crime (FC) Risk Appetite Metrics (RAMs) and Key Risk Indicators (KRIs) and coordinate periodic refresh processes with Enterprise FC.
  • Establish and maintain oversight of annual reviews and other periodic renewals/processes.
  • Assist in the administration and maintenance of internal AML / financial crimes controls across the CUSO.
  • Collaborate with teammates to manage and continually improve upon the ongoing development of regional and entity-level management and board reporting processes and develop efficiencies and alignment across reporting functions throughout the CUSO.
  • Support the CUSO FC teams in the execution and oversight Risk and Control Self-Assessments.

What do you need to succeed?
Must-have
  • Extensive knowledge of risk and compliance management, and/or governance practices, including a working knowledge of financial crime related program requirements relating to BSA, USA PATRIOT Act, OFAC, and FCPA.
  • Strong knowledge and experience developing, coordinating, and preparing management reporting.

Nice-to-have
  • Demonstrated experience leading or contributing to KRI/RAM programs.
  • Demonstrated experience leading or contributing to vendor/third party risk management functions.

What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
  • A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
  • Leaders who support your development through coaching and managing opportunities.
  • Ability to make a difference and lasting impact.
  • Work in a dynamic, collaborative, progressive, and high-performing team.
  • Opportunities to do challenging work.
  • Opportunities to build close relationships with clients.

The expected salary range for this particular position is $90,000-$160,000 (Minnesota) depending on your experience, skills, and registration status, market conditions and business needs.
You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.
RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
  • Drives RBC's high-performance culture
  • Enables collective achievement of our strategic goals
  • Generates sustainable shareholder returns and above market shareholder value

Job Skills
Anti-Money Laundering (AML), Business Perspective, Communication, Decision Making, Financial Regulation, Interpersonal Relationship Management, Operational Integrity, Organizational Governance, Process Management, Strategic Thinking
Additional Job Details
Address:
250 NICOLLET MALL:MINNEAPOLIS
City:
Minneapolis
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
GROUP RISK MANAGEMENT
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2026-07-29
Application Deadline:
2026-10-03
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Our Employment Opportunities
At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.
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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.

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