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Model Risk Jobs (NOW HIRING)

JCW Group

Model Risk Lead

Indianapolis, IN

Lead Model Risk Indianapolis, IN (Relocation Support Available) $100,000 - $130,000 Base + 10% Bonus We are partnering with a well-established financial institution seeking a Lead Model Risk ...

Earnest

Senior Model Risk Manager

San Francisco, CA

$203K - $250K/yr

The Sr Model Risk Manager will report to the Head of Credit Risk. As the Sr Model Risk Manager, you will: * Own and evolve Earnest's Model Risk Management framework, ensuring our credit, loss ...

Wintrust

Officer, Model Risk Management

Rosemont, IL

Position Overview The Officer, Model Risk Management will conduct various activities related to enterprise model risk validation and model governance. This individual is accountable for independently ...

Genworth Financial

Actuary, Model Risk

Richmond, VA · On-site +1

POSITION TITLE Actuary, Model Risk LOCATION Richmond, VA or Remote (US Eastern or Central Time) This position is available to Virginia residents as Richmond, Virginia in-office applicants or remote ...

ING Group

Director, Model Risk Management

New York, NY · Hybrid

$217K - $273K/yr

Model Risk Management | Model Risk Management Lead, Director | NYC About ING: In the Americas, ING's Wholesale Banking division offers a broad range of innovative financial products and services to ...

ING Group

Director, Model Risk Management

New York, NY · On-site

$217K - $273K/yr

Model Risk Management | Model Risk Management Lead, Director | NYC About ING: In the Americas, ING's Wholesale Banking division offers a broad range of innovative financial products and services to ...

Earnest

Senior Model Risk Manager

San Francisco, CA · On-site +1

$203K - $250K/yr

The Sr Model Risk Manager will report to the Head of Credit Risk. As the Sr Model Risk Manager, you will: * Own and evolve Earnest's Model Risk Management framework, ensuring our credit, loss ...

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How much do model risk jobs pay per hour?

As of May 28, 2026, the average hourly pay for model risk in the United States is $30.34, according to ZipRecruiter salary data. Most workers in this role earn between $19.47 and $38.70 per hour, depending on experience, location, and employer.

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 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 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 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.

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Model Risk jobs near you

Model Risk Lead

JCW Group

Indianapolis, IN

Full-time

Posted 27 days ago

Job description

Lead Model Risk

Indianapolis, IN (Relocation Support Available)

$100,000 – $130,000 Base + 10% Bonus

We are partnering with a well-established financial institution seeking a Lead Model Risk professional to join their Enterprise Risk function.

This is a high-impact role where you will independently assess and validate complex financial models used across the organisation. You'll play a key part in ensuring models are robust, accurate, and aligned with regulatory expectations.

The Role

You will:

  • Lead validations of financial models including credit risk, interest rate, mortgage, and asset-liability management models
  • Conduct quantitative testing including backtesting, stress testing, benchmarking, and scenario analysis
  • Assess model methodology, assumptions, controls, and documentation
  • Produce detailed validation reports and present findings to stakeholders
  • Review and challenge model changes
  • Support regulatory exams and audit reviews
  • Develop benchmarking tools and potentially leverage machine learning techniques
  • Contribute to model inventory oversight and ongoing model performance monitoring

This role sits within Enterprise Risk and offers strong exposure to senior stakeholders.

What We're Looking For

  • 3–7+ years' experience in Model Risk, Model Validation, or quantitative financial modelling
  • Strong understanding of capital markets / market risk models
  • Experience with fixed income products, interest rate models, credit risk models, or mortgage models
  • Proficiency in Python (strongly preferred), R, MATLAB, or similar
  • Strong analytical and report-writing skills
  • Ability to clearly communicate complex technical concepts
  • Advanced quantitative degree preferred (Finance, Statistics, Mathematics, Economics, Computer Science or similar).

Why Consider This Role?

  • Strong visibility within Enterprise Risk
  • Broad exposure across complex financial models
  • Stable, well-capitalised institution
  • Competitive compensation with relocation support

If you're looking to step into a lead-level validation role with real ownership and regulatory exposure, this is an excellent opportunity.

Apply