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Model Risk Validation Internal Audit Jobs (NOW HIRING)

US Bank

Audit Project Manager - Model Risk

Minneapolis, MN

$108K - $142K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

US Bank

Audit Project Manager - Model Risk

Milwaukee, WI · On-site

$102K - $134K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

US Bank

Audit Project Manager - Model Risk

Irving, TX · On-site

$99K - $131K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

US Bank

Audit Project Manager - Model Risk

Chicago, IL · On-site

$107K - $140K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

U.S. Bank

Audit Project Manager - Model Risk

Minneapolis, MN · On-site

$108K - $142K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

US Bank

Audit Project Manager - Model Risk

Charlotte, NC

$101K - $133K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

US Bank

Audit Project Manager - Model Risk

Atlanta, GA · On-site

$100K - $131K/yr

The Model Risk APM is primarily responsible for completing audit engagements with minimal ... Coordinating audit activities by integrating other internal audit subject matter teams (Information ...

Axos Bank

AVP, Internal Audit

San Diego, CA · On-site

$85K - $140K/yr

Evaluate emerging technology risks(e.g., AI/ML model risk, cybersecurity, digital platforms) and ... internal audit, public accounting, or finance * Strong risk assessment, scoping, and analytical ...

Axos Bank

AVP, Internal Audit

San Diego, CA · On-site

$85K - $140K/yr

Evaluate emerging technology risks (e.g., AI/ML model risk, cybersecurity, digital platforms) and ... internal audit, public accounting, or finance * Strong risk assessment, scoping, and analytical ...

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Model Risk Validation Internal Audit information

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$33.5K

$76.2K

$119.5K

How much do model risk validation internal audit jobs pay per year?

As of Jun 5, 2026, the average yearly pay for model risk validation internal audit in the United States is $76,185.00, according to ZipRecruiter salary data. Most workers in this role earn between $59,500.00 and $90,000.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Model Risk Validation Internal Auditor, and why are they important?

To thrive as a Model Risk Validation Internal Auditor, you need strong quantitative and analytical skills, knowledge of financial models, and typically a degree in finance, mathematics, statistics, or a related field. Familiarity with risk management frameworks, model validation software, programming languages like Python or R, and relevant certifications such as FRM or CFA is highly valued. Exceptional attention to detail, critical thinking, and effective communication are vital soft skills for this role. These competencies are essential to ensure accurate model assessments, regulatory compliance, and clear reporting of complex risks to stakeholders.

What is Model Risk Validation Internal Audit?

Model Risk Validation Internal Audit refers to the independent assessment and review of a financial institution’s models and the associated risk management processes. This function ensures that models used for decision-making, such as credit, market, or operational risk models, are accurate, reliable, and compliant with regulatory standards. Auditors in this role evaluate whether model validation processes are robust, effective, and properly documented, helping to mitigate risks associated with model errors or misuse. Their work is crucial for maintaining the integrity and stability of the organization’s risk management framework.

How does a Model Risk Validation Internal Auditor typically collaborate with other departments during an audit?

A Model Risk Validation Internal Auditor works closely with teams such as model development, risk management, compliance, and IT during the audit process. Collaboration often involves reviewing model documentation, discussing methodologies with model developers, and ensuring all regulatory requirements are met. Effective communication is key, as auditors must clarify findings and recommendations to both technical and non-technical stakeholders. This cross-functional interaction ensures a thorough understanding of model risks and promotes continuous improvement across the organization.

What is the difference between Model Risk Validation Internal Audit vs Model Risk Validation?

AspectModel Risk ValidationModel Risk Validation Internal Audit
Primary FocusAssessing model accuracy, performance, and complianceEvaluating model risk management processes and controls
Work EnvironmentQuantitative analysis, model testing, validation proceduresAudit procedures, control assessments, process reviews
CertificationsFRM, CFA, or related quantitative credentials often preferredCPA, CIA, or internal audit certifications common

Model Risk Validation focuses on testing and validating models to ensure their accuracy and compliance. Model Risk Validation Internal Audit evaluates the effectiveness of the overall model risk management processes and controls within an organization. While both roles require understanding of models and risk, validation is more technical and analytical, whereas internal audit emphasizes control assessment and process improvement.

Infographic showing various Model Risk Validation Internal Audit job openings in the United States as of May 2026, with employment types broken down into 86% Full Time, and 14% Part Time. Highlights an 91% Physical, 3% Hybrid, and 6% Remote job distribution, with an average salary of $76,185 per year, or $36.6 per hour.
Audit Project Manager - Model Risk

Audit Project Manager - Model Risk

US Bank

Minneapolis, MN

$108K - $142K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 19 days ago

U.S. Bank rating

8.2

Company rating: 8.2 out of 10

Based on 344 frontline employees who took The Breakroom Quiz

37th of 141 rated banks

Job description

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

This Audit Project Manager (APM) position supports the Model Risk team within Corporate Audit Services (CAS). The Model Risk APM is primarily responsible for completing audit engagements with minimal supervision from managers. The APM is expected to execute audit engagements against plan and schedule, collaborate with stakeholders, and ensure engagements are completed in conformance with internal audit policies and procedures. This individual will also be involved in other continuous monitoring routines, side projects, department initiatives, and other administrative audit activities.

Primary Responsibilities

  • Completing audit engagements, ensuring the highest quality work delivered timely. This includes:

    • Ensuring work contains relevant facts to support audit scope and conclusions and adheres to internal audit policies and procedures.

    • Drafting issues to ensure potential exposures and significance are included, root causes are identified, and operationally effective and cost-effective actions to address those causes are developed into appropriate recommendations.

  • Completing or assisting managers in planning audit engagements. Includes identifying and analyzing business processes, key risks and critical controls; interviewing auditees; determining audit scope; evaluating control design adequacy; and developing audit programs which provide sufficient guidance for testing control performance effectiveness and making evaluations which effectively achieve audit objectives.

  • Assisting the managers in reporting and wrap-up phases of audits. Includes appropriate disposition of issues and drafting audit reports which include issues.

  • Monitoring progress of audit engagements against plan and schedule. Includes making necessary adjustments and promptly completing work paper reviews on a timely basis to ensure all issues are identified and dispositioned prior to report draft issuance.

  • Providing on-the-job training for staff, as needed. Includes business knowledge of products, services, and delivery systems; company policies and procedures; applicable laws and regulations; and formal/informal control frameworks.

  • Collaborating across the three lines of defense regarding business processes, risks, and controls with focus over models and qualitative estimation methods. Coordinating audit activities by integrating other internal audit subject matter teams (Information Technology, Anti-Money Laundering, Compliance, Risk Management, Treasury, etc.) to ensure appropriate and efficient coverage of the business products, services and processes. Managing the team's workload to assist other audit teams when resources are needed for areas of higher risk.

  • Performing other duties as requested by management.

Basic Qualifications

  • Bachelor's degree, or equivalent work experience

  • Typically more than eight years of applicable experience

Preferred Skills/Experience

  • Experience auditing risk functions

  • Advanced organizational skills

  • Excellent verbal, interpersonal, and written communication skills

  • Advanced process facilitation, project management, and analytical skills for complex processes

  • Adapts well to change

  • Strong critical thinking, analytical, decision-making, and problem-solving skills

  • Ability to extract, collect, organize, analyze, and interpret trends or patterns in data sets

  • Ability to manage multiple tasks and deadlines simultaneously

  • Thorough understanding of Institute of Internal Auditors (IIA) Standards and the common definition of internal controls

  • Experience executing audit engagements, and providing feedback to staff

  • Business acumen, credibility, and respectful demeanor to help line(s) proactively identify and address changing workforce needs

  • Considerable knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business

  • Considerable understanding of the business line's operations, products/services, systems, and associated risks/controls

  • Considerable knowledge of Risk/Compliance/Audit competencies and ability to hold others accountable on individual projects

*This role requires working from a U.S. Bank location three (3) or more days per week.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to ourdisability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

  • Healthcare (medical, dental, vision)

  • Basic term and optional term life insurance

  • Short-term and long-term disability

  • Pregnancy disability and parental leave

  • 401(k) and employer-funded retirement plan

  • Paid vacation (from two to five weeks depending on salary grade and tenure)

  • Up to 11 paid holiday opportunities

  • Adoption assistance

  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about theE-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $119,765.00 - $140,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

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About U.S. Bank

Sourced by ZipRecruiter

U.S. Bank is a reputable and established financial institution that plays a significant role in the banking sector. With a history spanning over 150 years, U.S. Bank has built a strong foundation of trust and reliability. As a comprehensive bank, they offer a wide array of financial products and services to cater to the diverse needs of their customers, including individuals, businesses, and communities. Customer satisfaction is of utmost importance to U.S. Bank. They prioritize delivering exceptional service and fostering long-term relationships with their clients. Through their extensive network of branches and advanced digital banking platforms, U.S. Bank ensures convenient access to their services, empowering customers to manage their finances efficiently and securely.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

Year founded

1863

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