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Model Risk Jobs in New York (NOW HIRING)

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Context Engineer (Model Risk Focus)

New York, NY · On-site

$50 - $53/hr

Job Title: Context Engineer (Model Risk Focus) Location: NYC, NY, 10003 Duration: 6 months Rate: $50/hr. - $53/hr. Job Type: Temporary Assignment Work Type: Onsite Job Summary: We are seeking a ...

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All JobsModel Risk JobsModel Risk Jobs in New York

Model Risk information

See New York salary details

$15

$33

$81

How much do model risk jobs pay per hour?

As of Aug 7, 2026, the average hourly pay for model risk in New York is $33.19, according to ZipRecruiter salary data. Most workers in this role earn between $21.30 and $42.36 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 New York? The most popular types of Model Risk jobs in New York are:
What are popular job titles related to Model Risk jobs in New York? For Model Risk jobs in New York, the most frequently searched job titles are:
What job categories do people searching Model Risk jobs in New York look for? The top searched job categories for Model Risk jobs in New York are:
Model Risk jobs near you
Infographic showing various Model Risk job openings in New York as of August 2026, with employment types broken down into 58% Full Time, 16% Part Time, and 26% Contract. Highlights an 100% In-person job distribution, with an average salary of $69,033 per year, or $33.2 per hour.

Associate, Model Risk

Sumitomo Mitsui Financial Group, Inc.

Jersey City, NJ • On-site

$112K - $135K/yr

Full-time

Posted 15 days ago

Job description

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
The anticipated salary range for this role is between $112,778.00 and $135,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Objectives
  • Conduct end-to-end validations and review of BSA/AML/Fraud models utilizing languages and software including SQL, Python/R and Hadoop. Perform assessment on financial model risk based on conceptual soundness, data quality, model/scenarios design, model usage, model implementation, model performance, model control, and ongoing performance monitoring.
  • Identify financial model deficiencies through validations, communicate issues with model owners and senior management, and provide feasible and adequate recommendations.
  • Develop and maintain documentation templates, testing packages and automation tools and scripts to standardize validation processes.

Hybrid remote work permitted.
Qualifications and Skills
  • Master's degree in financial engineering, mathematics or a related field plus 3 years of experience.
  • Special skills: advanced data science & financial data engineering (cleanse/parse/restructure/validate); advanced programming languages, including SQL and Python or R, for statistical analysis, data manipulation, and independent model replication testing; statistical testing methodologies, machine learning techniques, data segmentation methods, and stress and sensitivity analysis; model risk management frameworks, including regulatory guidance such as SR 11 7, and the ability to apply documentation standards for model development, validation, and governance; and strong understanding of the financial services industry and business lines.
  • The required skill set does not need to be maintained over the full term of the required experience.

The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
For benefit information, please see the Careers page
SMBC's employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

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