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Model Risk Jobs in Phoenix, AZ (NOW HIRING)

Western Alliance Bank

Model Risk Analyst

Phoenix, AZ · On-site

Model Risk Analyst Location: CityScape What you'll do: Western Alliance Bank (WAL) is seeking a Model Risk Analyst to join its Model Risk Management Group. Being part of the Model Risk team will put ...

Synchrony Financial

AVP, Model Validation

Phoenix, AZ · On-site

Work closely within the Risk organization to validate accuracy and performance of all models, whether statistical/AI/ML or non-statistical to identify any issues requiring further investigation, and ...

Synchrony Financial

AVP, Model Validation

Phoenix, AZ · On-site

$100K - $170K/yr

Work closely within the Risk organization to validate accuracy and performance of all models, whether statistical/AI/ML or non-statistical to identify any issues requiring further investigation, and ...

US Bank

Quantitative Model Analyst 3 - AML

Tempe, AZ

The individual will partner closely with model owners, Model Risk Management, internal and external auditors, and senior leadership to evaluate model behavior, identify emerging risks, and support ...

Northern Trust

Voice ID Consultant

Tempe, AZ · On-site

Escalate findings and insights to IT, Microsoft, Model Risk, or Fraud partners as appropriate. * Support adhoc data and analysis requests from Risk, Fraud, and governance teams. Front Line Support ...

Northern Trust

Voice ID Consultant

Tempe, AZ · On-site

Escalate findings and insights to IT, Microsoft, Model Risk, or Fraud partners as appropriate. * Support ad-hoc data and analysis requests from Risk, Fraud, and governance teams. Front - Line Support ...

Northern Trust

Voice ID Consultant

Tempe, AZ · On-site

Escalate findings and insights to IT, Microsoft, Model Risk, or Fraud partners as appropriate. * Support ad-hoc data and analysis requests from Risk, Fraud, and governance teams. Front - Line Support ...

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All JobsModel Risk JobsModel Risk Jobs in Phoenix, AZ

Model Risk information

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How much do model risk jobs pay per hour?

As of Jul 16, 2026, the average hourly pay for model risk in Phoenix, AZ is $30.12, according to ZipRecruiter salary data. Most workers in this role earn between $19.33 and $38.41 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 Phoenix, AZ? The most popular types of Model Risk jobs in Phoenix, AZ are:
What are popular job titles related to Model Risk jobs in Phoenix, AZ? For Model Risk jobs in Phoenix, AZ, the most frequently searched job titles are:
What job categories do people searching Model Risk jobs in Phoenix, AZ look for? The top searched job categories for Model Risk jobs in Phoenix, AZ are:
Model Risk jobs near you
Infographic showing various Model Risk job openings in Phoenix, AZ as of July 2026, with employment types broken down into 1% As Needed, 82% Full Time, 13% Part Time, 1% Temporary, and 3% Contract. Highlights an 90% Physical, 4% Hybrid, and 6% Remote job distribution, with an average salary of $62,652 per year, or $30.1 per hour.
Model Risk Analyst

Model Risk Analyst

Western Alliance Bancorporation

Phoenix, AZ • On-site

Full-time

Medical, Dental, Retirement

Re-posted 12 days ago

Job description

Job Title:
Model Risk Analyst
Location:
CityScape
What you'll do:
Western Alliance Bank (WAL) is seeking a Model Risk Analyst to join its Model Risk Management Group. Being part of the Model Risk team will put you at the center of the firm's model validation and governance activities with exposure to a wide variety of model types and cutting edge modeling techniques. In this role, you will help identify, assess, mitigate, and monitor model risk, while contributing to the ongoing development of the bank's Model Risk Management program.
  • Apply statistical, financial, economic, and business expertise to conduct independent model validation activities in accordance with the bank's Model Risk Management Policy and Federal Reserve SR 26 (including evaluating conceptual soundness, reviewing ongoing monitoring plans and reports, and conducting outcomes analysis and benchmarking etc.).
  • Prepare comprehensive model validation reports and presentations.
  • Aid in model governance activities including enhancing policies and procedures, maintaining model and critical spreadsheet inventories, managing issues/findings, and producing quarterly reporting.
  • Stay current with research and trends in statistical modeling and model risk management.

What you'll need:
  • Preferred PhD or 3+ years of related work experience in validating and/or developing the types of models used in the financial services industry.
  • Masters degree or greater in a quantitative field such as Statistics, Economics, Math, Physics, Engineering or Finance.
  • Intermediate knowledge of regulatory and legal compliance obligations, industry standards, and best practices.
  • Intermediate project management skills and ability to manage multiple projects independently.
  • Intermediate to Advanced quantitative modeling, analytical, research, and programming skills.
  • Intermediate to Advanced experience with Python, R, or SAS, with hands-on experience in SQL.
  • Intermediate verbal and written communication skills.
  • Knowledge of general banking operations, including deposit operations, loan administration, treasury management, and other commercial banking products and services preferred.

Benefits you'll love:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!
About the company:
Western Alliance Bank, Member FDIC, is a wholly owned subsidiary of Western Alliance Bancorporation. Serving clients nationwide, Western Alliance Bank includes six legacy bank brands - Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank - that remain part of the company's heritage, as well as AmeriHome Mortgage, a Western Alliance Bank Company.
Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.
© Western Alliance Bancorporation

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