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Model Risk Manager Jobs in San Jose, CA (NOW HIRING)

Risk Manager

Sunnyvale, CA · On-site

$165K - $207K/yr

Risk Management Opening Date: 08/21/2026 Closing Date: 9/20/2026 11:59 PM Pacific Description RISK ... This engaged and approachable manager will model the behaviors and performance expected of others ...

... models to support captive risk strategies and portfolio optimization. * Manage claims from reporting through settlement; coordinate with third-party administrators, claim adjusters, insurers, and ...

Risk Manager

Sunnyvale, CA · On-site

$165K - $207K/yr

Description RISK MANAGER REGULAR, FULL-TIME EMPLOYMENT OPPORTUNITY Classification also receives 3 ... This engaged and approachable manager will model the behaviors and performance expected of others ...

... models to support captive risk strategies and portfolio optimization. Manage claims from reporting through settlement; coordinate with third-party administrators, claim adjusters, insurers, and ...

... models to support captive risk strategies and portfolio optimization. * Manage claims from reporting through settlement; coordinate with third-party administrators, claim adjusters, insurers, and ...

The Manager will drive the policy renewal process, manage complex claims portfolios, and leverage ... Quantitative Risk Modeling: Oversee the development and validation of sophisticated risk models ...

Security Risk Manager

San Francisco, CA · Hybrid

$194K - $220K/yr

As the Security Risk Manager, you will own Asana's internal security risk management program end-to ... Hands-on experience with quantitative risk methodologies such as FAIR, risk scoring models, or ...

Security Risk Manager

San Francisco, CA · On-site

$194K - $220K/yr

As the Security Risk Manager, you will own Asana's internal security risk management program end-to ... Hands-on experience with quantitative risk methodologies such as FAIR, risk scoring models, or ...

As the Security Risk Manager, you will own Asana's internal security risk management program end-to ... Hands‑on experience with quantitative risk methodologies such as FAIR, risk scoring models, or ...

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Model Risk Manager information

See San Jose, CA salary details

$60.4K

$130.7K

$199.2K

How much do model risk manager jobs pay per year?

As of Sep 8, 2026, the average yearly pay for model risk manager in San Jose, CA is $130,743.00, according to ZipRecruiter salary data. Most workers in this role earn between $105,500.00 and $151,200.00 per year, depending on experience, location, and employer.

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 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 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 are popular job titles related to Model Risk Manager jobs in San Jose, CA?

For Model Risk Manager jobs in San Jose, CA, the most frequently searched job titles are:

What cities near San Jose, CA are hiring for Model Risk Manager jobs?

Cities near San Jose, CA with the most Model Risk Manager job openings:

Infographic showing various Model Risk Manager job openings in San Jose, CA as of August 2026, with employment types broken down into 87% Full Time, 11% Part Time, and 2% Contract. Highlights an 84% Physical, 2% Hybrid, and 14% Remote job distribution, with an average salary of $130,713 per year, or $62.8 per hour.

$165K - $207K/yr

Full-time

Posted 18 days ago


Key responsibilities

  • Oversees the daily functions and activities of the City's risk management program, including workers' compensation, liability claims, insurance programs, and safety initiatives.

  • Develops, administers, and monitors program budgets, ensuring compliance with funding and conducting studies to forecast spending and cost benefits.

  • Provides consultation to City departments on risk management policies, identifies risk trends, and develops recommendations to reduce risk.


Job description

Salary: $165,839.00 - $207,298.00 Annually
Location : Sunnyvale, CA
Job Type: Full-Time
Job Number: 26-00152
Department: Human Resources
Division: Risk Management
Opening Date: 08/21/2026
Closing Date: 9/20/2026 11:59 PM Pacific
Description
RISK MANAGER
REGULAR, FULL-TIME EMPLOYMENT OPPORTUNITY
Classification also receives 3.5% premium pay

The City of Sunnyvale seeks an experienced, service-oriented public sector professional who thrives in a team environment as its next Risk Manager. The ideal candidate is respected for their technical expertise, sound judgment, discretion, and leadership skills. They excel at analyzing complex issues, identifying risk exposure, and developing effective solutions that advance organizational objectives while managing organizational risk.
Committed to delivering responsive, high-quality programs and services, the successful candidate is an exceptional communicator who can present complex information clearly and effectively to a range of audiences, including employees at all levels. The ideal candidate will serve as a trusted advisor and business partner. They will build productive relationships and provide thoughtful guidance that supports organizational success.
The new Risk Manager will demonstrate a genuine interest in the work, challenges, and employees in City departments. They will have experience navigating diverse and sometimes competing priorities and will be expected to make difficult decisions with fairness, care, and a long-term perspective. This engaged and approachable manager will model the behaviors and performance expected of others while fostering a culture of collaboration, accountability, respect, and shared purpose. They will lead, motivate, and develop staff, helping to build a cohesive and high-performing team.
For more information about the City and this position, please click here:
Essential Job Functions
(May include, but are not limited to, the following):
  • Plans, develops, administers, implements, and oversees the daily functions, operations, and activities of the City's risk management program including workers' compensation, interactive process and reasonable accommodations, liability claims, insurance programs, and the City's safety program.
  • Participates in the development and implementation of goals, objectives, policies, and priorities for the program; recommends within department policy, appropriate service, and staffing levels; recommends and administers policies and procedures.
  • Develops, administers, and oversees program budgets; determines funding needed for staffing, equipment, materials, and supplies; conducts studies to forecast spending and cost benefits for insurance, assigned projects, and potential services; monitors expenditures for supplies and equipment; ensures compliance with budgeted funding.
  • Provides consultation to City departments concerning risk management policies and procedures; identifies risk related trends and develops recommendations on the reduction of risk; monitors legislative and legal changes and ensures City compliance.
  • Oversees the City's workers' compensation program; manages staff serving as liaison between the City, injured worker, and third-party administrators; educates managers on policy and legal requirements; coordinates claim reviews and provides overall program management.
  • Manages and participates in the interactive process for employee disability-related reasonable accommodations; evaluates essential job functions, functional limitations, and possible accommodations; interprets City policy on paid medical leave and trains City staff on policies.
  • Manages and oversees the City's occupational safety program; ensures compliance with Cal OSHA requirements and related federal, state, and local laws and regulations; oversees individuals conducting inspections and coordinating training on relevant and required topics; responds to safety related issues; acts as the City's designated Safety Officer and coordinates Safety Committee activities.
  • Reviews City contracts and makes recommendations regarding indemnification, risk transfer, and insurance requirements; reviews insurance documents for compliance with City requirements.
  • Manages and administers the City's liability claims activities including reviewing claims made against the City and managing and monitoring contracts with third party administrators; processes and adjusts liability claims; makes recommendations on whether to settle claims; represents the City in Small Claims Court.
  • Administers the City's self-insurance program for liability and workers' compensation; purchases insurance for excess liability, excess workers' compensation, property, auto physical damage, and fidelity; represents the City with the Excess Liability Joint Powers Authorities.
  • Serves as liaison for assigned functions with other City departments, divisions, and outside agencies; provides staff support to commissions, committees, and task forces, as required.
  • Provides highly complex staff assistance to the Director of Human Resources; prepares reports and correspondence concerning new or ongoing programs and program effectiveness; prepares statistical reports as required; ensures the proper documentation of operations and activities.
  • Reviews the work of staff to ensure compliance with applicable federal, state, and local laws, codes, and regulations.
  • Represents the City in meetings with members of other public and private organizations, contractors, third-party administrators, and the public.
  • Attends and participates in professional group meetings; stays abreast of new trends and innovations in the field of risk management.
  • Monitors changes in regulations and technology that may affect operations; implements policy and procedural changes as needed.
  • Answers questions and provides information to the public and claimants; investigates and responds to complaints and inquiries from residents, other departments, and agencies.
  • Ensures staff observe and comply with all City and mandated safety rules, regulations, and protocols.
  • Performs other duties as assigned.

WORKING CONDITIONS
Physical Demands:
This is primarily a sedentary office classification although standing in work areas and walking between work areas may be required. Finger dexterity is needed to access, enter, and retrieve data using a computer keyboard or calculator and to operate standard office equipment. Positions in this classification occasionally bend, stoop, kneel, reach, push, and pull drawers open and closed to retrieve and file information. Employees must possess the ability to lift, carry, push, and pull materials and objects up to 10 pounds. Some of these requirements may be accommodated for otherwise qualified individuals requiring and requesting such accommodation.
Environmental Conditions:
Employees work in an office environment with moderate noise levels, controlled temperature conditions, and no direct exposure to hazardous physical substances. Employees may interact with upset staff and/or the public in interpreting and enforcing divisional policies and procedures.
Minimum Qualifications
Education and Experience:
The minimum qualifications for education and experience can be met in the following way:
  • A bachelor's degree from an accredited college or university in risk management, human resources management, finance, economics, business or public administration, or related field; AND
  • Four (4) years of experience performing professional level risk management work, including prior lead or supervisory experience.
Knowledge of:
  • Principles and practices of leadership.
  • Principles of providing functional direction and training.
  • Principles and techniques for working with groups and fostering effective team interaction to ensure teamwork is conducted smoothly.
  • Principles and practices of budget development and administration.
  • Principles and practices of contract administration and management.
  • General principles of risk management related to the functions of the assigned area.
  • Advanced principles and practices of risk management, safety, and workers' compensation administration.
  • Public entity liability, rules, and regulations.
  • Safe work practices and requirements of Cal OSHA.
  • Workers' compensation rules and regulations.
  • Principles of self-insurance, public agency pooling/risk sharing, and commercial insurance.
  • Complex arithmetic and statistical techniques.
  • Research methods and techniques.
  • Recent and on-going developments related to the operations of the assigned program.
  • Record keeping principles and procedures.
  • Methods and techniques of preparing technical and administrative reports, and general business correspondence.
  • Applicable federal, state, and local laws, codes, and regulations as well as industry standards and best practices pertinent to the assigned area of responsibility.
  • City and mandated safety rules, regulations, and protocols.
  • Techniques for providing a high level of customer service, by effectively working with the public, vendors, contractors, and City staff.
  • The structure and content of the English language, including the meaning and spelling of words, rules of composition, and grammar.
  • Modern equipment and communication tools used for business functions and program, project, and task coordination, including computers and software programs relevant to work performed.
Ability to:
  • Plan, organize, oversee, develop, implement, and administer a comprehensive risk management program.
  • Assist in developing and implementing goals, objectives, practices, policies, procedures, and work standards.
  • Effectively provide staff leadership and work direction.
  • Prepare and administer budgets; allocate limited resources in a cost-effective manner.
  • Coordinate and manage assigned projects and programs.
  • Conduct strategic planning for assigned projects.
  • Organize and direct risk management operations, including safety, workers' compensation, and liability.
  • Analyze problems, identify alternative solutions, project consequences of proposed actions, and implement recommendations in support of goals.
  • Analyze complex risk management issues and develop and implement appropriate responses; advise and counsel departments regarding the best course of action.
  • Read, comprehend, and apply insurance policies, endorsements, certificates, and bonds.
  • Collaborate effectively with legal counsel to negotiate claim settlements.
  • Perform mathematical calculations accurately.
  • Research, analyze, and evaluate new service delivery methods, procedures, and techniques.
  • Prepare, maintain, and update accurate detailed records and files.
  • Interpret and evaluate statistical data.
  • Understand, interpret, and apply all pertinent laws, codes, regulations, policies and procedures, and standards relevant to work performed.
  • Effectively represent the division and the City in meetings with governmental agencies, various professional and regulatory organizations, and in meetings with individuals.
  • Prepare clear and concise reports, correspondence, documentation, and other written materials.
  • Use tact, initiative, prudence, and independent judgment within general policy and procedural guidelines.
  • Independently organize work, set priorities, meet critical deadlines, and follow-up on assignments.
  • Communicate clearly and concisely, both orally and in writing, using appropriate English grammar and syntax.
  • Establish, maintain, and foster positive and effective working relationships.
  • Effectively use computer systems, software applications relevant to work performed, and modern business equipment to perform a variety of work tasks.

Licenses/Certificates:
Possession and continued maintenance of a valid class C California driver's license or the ability to provide alternative transportation as approved by the appointing authority and a safe driving record.
Desirable Qualifications
Possession of a valid designation as an Associate in Risk Management (ARM) by the Insurance Institute of America.
Application and Selection Process
APPLICATION PROCESS
The application period closes on Sunday, September 20th at 11:59pm. Candidates are asked to fully describe any training, education, experience, or skills relevant to this position. Electronic applications may be submitted online through the City's employment page at https://sunnyvale.ca.gov and click on 'City Jobs'. Late or incomplete applications will not be accepted.
EXAM PROCESS
Applications will be competitively screened based on the minimum qualifications of this position.
Based upon a review of the application materials, the most qualified candidates will be invited to participate in the oral examination process scheduled for Tuesday, September 29th at Sunnyvale City Hall(Note: The examination process may be changed as deemed necessary by the Director of Human Resources.)
SELECTION PROCESSThose candidates that receive a passing score on the examination will be placed on an eligibility list for up to one year, in accordance with the City's Civil Service Rules and Administrative Policies. Top candidates on the eligibility list will be invited to participate in an in person selection interview with the department tentatively scheduled for the week of October 5th.
Any candidate that is selected by the hiring department will be required to successfully complete a pre-employment process, which may consist of a background history check, as well as a medical exam(s) administered by a City selected physician(s) before hire. Prior to starting work, all newly-hired employees will be fingerprinted to check conviction history. A conviction history will not necessarily dis