ZipRecruiter

Log In

1

Model Risk Jobs in Massachusetts (NOW HIRING)

Karen Clark & Company

Risk Consultant

Boston, MA · On-site

$85K - $110K/yr

Risk Consultant Karen Clark & Company seeks a Risk Consultant to join our Client Services team ... In tandem with the model development team, you will conduct thorough validation analyses of our ...

Karen Clark & Company

Risk Consultant

Boston, MA · On-site

$85K - $110K/yr

Risk Consultant Karen Clark & Company seeks a Risk Consultant to join our Client Services team ... In tandem with the model development team, you will conduct thorough validation analyses of our ...

Karen Clark & Company

Risk Consultant

Boston, MA · On-site

$85K - $110K/yr

Risk Consultant Karen Clark & Company seeks a Risk Consultant to join our Client Services team ... In tandem with the model development team, you will conduct thorough validation analyses of our ...

Victory Capitel

Investment Risk Analyst

Boston, MA · On-site

$75K - $90K/yr

Risk Modeling * Maintain, validate, and enhance front office investment risk models used by Portfolio Managers * Monitor portfolio risk exposures including factor risk, tracking error, VaR, and ...

Victory Capital

Investment Risk Analyst

Boston, MA

$75K - $90K/yr

Risk Modeling * Maintain, validate, and enhance front office investment risk models used by Portfolio Managers * Monitor portfolio risk exposures including factor risk, tracking error, VaR, and ...

State Street Global Advisors

Market Risk

Boston, MA · On-site +1

$82K - $180K/yr

... models (VaR, Expected Shortfall, PV01, Option Greeks); performing stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process; monitoring Market Risk ...

State Street Corporation

Market Risk

Boston, MA · On-site

$82K - $180K/yr

... models (VaR, Expected Shortfall, PV01, Option Greeks); performing stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process; monitoring Market Risk ...

next page

Showing results 1-20

All JobsModel Risk JobsModel Risk Jobs in Massachusetts

Model Risk information

See Massachusetts salary details

$15

$33

$80

How much do model risk jobs pay per hour?

As of Jul 12, 2026, the average hourly pay for model risk in Massachusetts is $33.13, according to ZipRecruiter salary data. Most workers in this role earn between $21.25 and $42.26 per hour, depending on experience, location, and employer.

What are some typical challenges faced by professionals working in Model Risk, and how can they be addressed?

Professionals in Model Risk often encounter challenges such as ensuring model accuracy, managing regulatory compliance, and effectively communicating complex technical findings to non-technical stakeholders. Addressing these challenges requires a strong understanding of both quantitative modeling and relevant regulations, as well as strong collaboration skills to work with model developers, auditors, and business units. Staying informed about evolving regulatory standards and participating in ongoing training can also help model risk professionals remain effective and add value to their organizations.

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

To thrive as a Model Risk Analyst, you need a solid background in quantitative analysis, statistics, or finance, often supported by an advanced degree in a related field. Familiarity with model validation tools, programming languages such as Python or R, and regulatory frameworks like SR 11-7 is essential. Strong analytical thinking, attention to detail, and effective communication skills are crucial for evaluating models and presenting findings to stakeholders. These skills ensure model integrity, regulatory compliance, and risk mitigation in financial institutions.

What is the difference between Model Risk vs Model Validation?

AspectModel RiskModel Validation
Primary FocusIdentifying, assessing, and mitigating risks associated with modelsEvaluating and testing models to ensure accuracy and reliability
Required CredentialsQuantitative skills, risk management certifications, industry experienceQuantitative expertise, validation certifications, industry knowledge
Work EnvironmentRisk management teams within financial institutions or firmsModel validation teams, often within risk or model development departments
Industry UsageUsed across banking, insurance, and investment firms to manage model-related risksCommonly employed in financial services to verify model performance

Model Risk focuses on managing the potential negative impacts of models, including errors and misuse, while Model Validation concentrates on testing and confirming the accuracy and robustness of models. Both roles are essential in financial industries to ensure models are reliable and risks are minimized.

What is model risk?

Model risk refers to the potential for adverse consequences resulting from decisions based on incorrect or misused models. In financial institutions, model risk can arise if a model's assumptions are flawed, if the data input is poor, or if the model is applied inappropriately. Managing model risk involves validating models, monitoring their performance, and ensuring that they are used within their intended scope. Effective model risk management helps organizations avoid significant financial losses and comply with regulatory requirements.
What are the most commonly searched types of Model Risk jobs in Massachusetts? The most popular types of Model Risk jobs in Massachusetts are:
What are popular job titles related to Model Risk jobs in Massachusetts? For Model Risk jobs in Massachusetts, the most frequently searched job titles are:
What job categories do people searching Model Risk jobs in Massachusetts look for? The top searched job categories for Model Risk jobs in Massachusetts are:
Model Risk jobs near you
Infographic showing various Model Risk job openings in Massachusetts as of July 2026, with employment types broken down into 1% As Needed, 77% Full Time, 18% Part Time, 2% Temporary, and 2% Contract. Highlights an 90% Physical, 4% Hybrid, and 6% Remote job distribution, with an average salary of $68,913 per year, or $33.1 per hour.
AML Compliance Model Developer - Associate

AML Compliance Model Developer - Associate

Santander US

Boston, MA • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Job Summary:
Santander US is a global leader in financial services, evolving into a technology-driven organization. The AML Compliance Model Developer – Associate will develop and maintain AML compliance models, utilizing machine learning and data analysis to support compliance initiatives and enhance operational efficiency.
Responsibilities:
• Develop, enhance, and maintain AML compliance models and transaction monitoring scenarios across AML compliance systems including advanced machine learning and AI models.
• Apply data science, statistical modeling, natural language processing, and machine learning techniques to large structured and unstructured financial datasets to support AML model development, feature engineering, model validation, performance monitoring, and explainability.
• Support AML compliance initiatives through model development, tuning, threshold optimization, and alert reduction strategies.
• Perform advanced data analysis using SAS, SQL, and Python to identify trends, anomalies, suspicious patterns, and data quality issues across large financial datasets.
• Design and execute complex SQL queries, stored procedures, data extraction, and reconciliation activities to support AML investigations and model testing.
• Develop Python-based automation scripts and analytical solutions to improve operational efficiency and testing effectiveness.
• Execute model testing activities including SIT, UAT, regression testing, defect validation, and production verification.
• Collaborate with Compliance, Technology, Model Risk, and Business teams to gather requirements and implement AML monitoring solutions.
• Analyze model assumptions, data integrity, and transaction monitoring effectiveness to ensure compliance with regulatory expectations.
• Create and maintain technical documentation, testing evidence, Jira stories, defect logs, and implementation artifacts.
• Work within Agile delivery methodologies and actively track development/testing activities through Jira.
• Support production releases, issue resolution, and ongoing model performance monitoring.
• Ensure adherence to enterprise governance standards, SDLC processes, and AML compliance policies.
• Adopt the latest AI-based technologies to improve efficiency.
Qualifications:
Required:
• Bachelor’s degree in computer science, Information Systems, Data Analytics, Finance, Mathematics, or related field.
• 3–5 years of experience in AML Compliance Technology, AML model development, or a related field within banking or financial services.
• Strong programming and analytical experience using SAS for data analysis, reporting, model support, and testing.
• Good working knowledge of Python for data manipulation, scripting, automation, and analytical processing.
• Strong SQL skills with experience developing complex queries, joins, procedures, and handling large-scale datasets.
• Experience working with Jira for Agile project tracking, sprint management, and defect lifecycle management.
• Working knowledge of testing methodologies including functional testing, regression testing, SIT, and UAT.
• Understanding of AML regulations and compliance frameworks including BSA/AML, OFAC, KYC, and transaction monitoring concepts.
• Strong analytical, quantitative, and problem-solving skills.
• Ability to multitask, manage priorities, and work effectively in fast-paced environments.
• Strong communication, documentation, and stakeholder management skills.
Preferred:
• Experience working with AML transaction monitoring systems, alert analysis, and compliance technology platforms.
• Experience in developing AI Agents. Good understanding of RAG and MCP’s.
• Experience with Oracle, relational databases, or ETL processes.
• Exposure to EDD Verifier, ECS, and Temenos (T24) platforms.
• Exposure to model validation, model governance, or threshold optimization initiatives.
• Experience working with large-scale financial or transactional datasets.
• Knowledge of version control tools such as Git.
• Experience in cloud or distributed data environments is a plus.
• Advanced Microsoft Office skills including Excel and PowerPoint.
Company:
Santander’s purpose is to help people and businesses prosper. Founded in 2013, the company is headquartered in Boston, USA, with a team of 10001+ employees. The company is currently Late Stage.
Santander US logo

About Santander US

Sourced by ZipRecruiter

Santander US, headquartered in Boston, MA, is a significant player in the banking industry. As part of the global Santander Group, it operates a network of banks and financial services across many states, serving millions of customers. The company, originally founded in Spain in 1857, has established a strong presence in the U.S, through a wide range of banking and financial services including personal banking, corporate banking, auto finance, and asset-management products.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

Boston, MA, US

Year founded

1979

Social media

Twitter

View All Santander US Jobs

Apply