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$15

$31

$77

How much do model risk jobs pay per hour?

As of Sep 7, 2026, the average hourly pay for model risk in Jersey City, NJ is $31.66, according to ZipRecruiter salary data. Most workers in this role earn between $20.34 and $40.38 per hour, depending on experience, location, and employer.

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 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 does a model risk do?

A model risk professional assesses and manages the risks associated with using mathematical and statistical models in financial and operational decision-making. They review model accuracy, validate assumptions, and ensure compliance with regulatory standards, often using tools like SAS or R. Their work helps prevent financial loss due to model errors or misestimations.

What does a model risk specialist do?

A model risk specialist evaluates and manages risks associated with financial or operational models used by organizations. They review model assumptions, validate model performance, and ensure compliance with regulatory standards, often using statistical and analytical tools. Their work helps prevent model errors that could lead to financial loss or regulatory issues.

What are the most commonly searched types of Model Risk jobs in Jersey City, NJ?

The most popular types of Model Risk jobs in Jersey City, NJ are:

What are popular job titles related to Model Risk jobs in Jersey City, NJ?

For Model Risk jobs in Jersey City, NJ, the most frequently searched job titles are:

What job categories do people searching Model Risk jobs in Jersey City, NJ look for?

The top searched job categories for Model Risk jobs in Jersey City, NJ are:

Model Risk jobs near you
Infographic showing various Model Risk job openings in Jersey City, NJ as of August 2026, with employment types broken down into 1% As Needed, 87% Full Time, 10% Part Time, and 2% Contract. Highlights an 87% Physical, 3% Hybrid, and 10% Remote job distribution, with an average salary of $65,862 per year, or $31.7 per hour.

Model Risk - Investment Management

Nomura International

Manhattan, NY • On-site

$160K - $190K/yr

Full-time

Medical, Retirement, PTO

Posted 20 days ago

Job description

Job Title: Model Risk - Investment Management

Corporate Title: Vice President

Department: Risk Management

Location: New York or Philadelphia

 

The pay range for this position at commencement of employment is expected to be between $160,000 and $190,000 annually.

* (see below footnote for additional compensation and benefits information).

Company overview

Nomura is a financial services group with an integrated global network. By connecting markets East & West, we service the needs of individuals, institutions, corporates and governments through our four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking) and Banking. 

Driven by the insights of some 28,000 people worldwide, we put our clients at the center of everything we do, delivering unparalleled access to, from and within Asia. For further information about Nomura, visit www.nomura.com 

Aon's Benefit Index, Nomura's benefitsrank#1amongst our competitors 

Division Overview:

Nomura's Risk department plays a crucial role in identifying, assessing, and mitigating risks across our business. We strive to protect the firm's assets, reputation, and financial stability by implementing robust risk management practices. Join our team and contribute to our proactive approach in managing risks, allowing us to make informed decisions and thrive in an ever-changing market environment.

Role Description:

The Model Validation Group (MVG) is part of the Risk department and globally responsible for establishing Model Risk Management framework, independently validating the integrity and comprehensiveness of Models in the firm. MVG also develops measures of Model Risk; monitoring Model Risk vs. the firm's Model Risk Appetite and escalates model approval breaches.

We are seeking an experienced Vice President to join our Model Validation Group (MVG) with primary responsibility for reviewing and validating models utilized across the Investment Management Division (IMD), including Nomura Asset Management International. In this role, you will provide independent validation oversight for sophisticated quantitative models that are critical to our global investment management operations.

  • Conduct independent validation of complex models used in IMD covering quantitative investment strategies, index calculation including Quantitative Investment Strategies (QIS), automated execution, as well as models used in risk management and performance reporting.
  • Evaluate model conceptual soundness, ongoing monitoring framework, and model outcomes and appropriateness for intended use.
  • Document validation findings including risk-based assessment of model limitations and assumptions in detailed reports.
  • Present validation results and risk assessments to senior management, model risk governance committees, and business stakeholders.
  • Contribute to the establishment and promotion of model governance standards and best practices in IMD under Nomura Group's Model Risk Management framework.
  • Build collaborative partnerships with stakeholders while maintaining independent, principled challenge.

Skills, experience, qualifications and knowledge required:

  • 3+ years of experience at VP or equivalent level in model validation, quantitative analysis, portfolio management, or risk management; demonstrated expertise in investment management strongly preferred.
  • Master's degree or higher in Math, Statistics, Economics, or related quantitative discipline.
  • Expertise in at least one of the following areas:
    • Risk Models related to Var or Counterparty exposure
    • Pricing Models from one of the asset classes: Interest Rate/FX/Equity Derivatives/Credit
    • Quantitative investment management, asset allocation, and portfolio optimization
    • Risk management within asset management companies
    • Corporate valuation methods
    • Index calculation methodologies, including Quantitative Investment Strategies (QIS)

Advanced proficiency in Python, R, and/or VBA for quantitative modeling and analysis.

Nomura Competencies

Explore Insights & Vision

  • Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions

  • Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People

  • Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability

  • Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion

  • Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, discretionary awards and eligibility for commissions for applicable sales roles in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

If hired in the U.S., employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors".

Nomura is an Equal Opportunity Employer

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