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Model Risk Jobs in Jersey City, NJ (NOW HIRING)

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Model Risk information

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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.

Senior Vice President, Model Risk Management

BNY

Manhattan, NY • On-site

Other

Re-posted 10 days ago

Job description

We’re seeking a future team member for the role of SVP - Model Risk Management to join our Model Risk team. This role is located in New York City, New York. 

In this role, you’ll make an impact in the following ways:

  • Lead the independent validation of treasury risk models, including IRRBB models and revenue forecasting models etc
  • Provide credible challenge and independent assessment of model.
  • Guide analysts in designing and executing efficient, risk-focused validation tests to identify model risks
  • Communicate findings and limitations clearly to stakeholders and senior management and partner stakeholders to ensure risks are understood and appropriately mitigated.
  • Ensure validation activities are aligned with internal model risk management standards and regulatory expectations

To be successful in this role, we’re seeking the following:  

  • Advanced degree in Finance, Economics, Mathematics, Statistics, Financial Engineering, or a related quantitative field; Master’s degree required, PhD preferred.
  • 5-10 years of experience in model risk management, model validation, treasury risk, or quantitative risk management within financial services.
  • Deep understanding of treasury risk models
  • In-depth knowledge of financial instruments, valuation concepts, and risk measurement methodologies.
  • Strong understanding of regulatory requirements and industry practice. 
  • Strong analytical and problem-solving skills with the ability to identify risks and recommend practical mitigation solutions.
  • Demonstrated critical thinking skills, with the ability to evaluate complex model frameworks, identify risks, and develop practical mitigation recommendations.
  • Excellent verbal and written communication skills, with the ability to present complex technical concepts to both technical and non-technical audiences.

At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.

Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.

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