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Model Validation Jobs in Chicago, IL (NOW HIRING)

Synchrony

AVP, Model Validation

Chicago, IL · On-site

The AVP, Model Validation is responsible for model validation and ensure they are meeting Model Risk Management policies, standards, procedures as well as regulations (OCC2011-12/SR 11-7). This role ...

Synchrony Financial

AVP, Model Validation

Chicago, IL · On-site

The AVP, Model Validation is responsible for model validation and ensure they are meeting Model Risk Management policies, standards, procedures as well as regulations (OCC2011-12/SR 11-7). This role ...

Alliant Credit Union

Lead Model Validation

Chicago, IL · Hybrid

$95K - $163K/yr

Validate a broad range of models used across credit risk, treasury management (ALM), finance, underwriting, and related areas, includes both traditional statistical models and artificial intelligence ...

Alliant

Lead Model Validation

Chicago, IL · On-site

$95K - $163K/yr

  • Medical

  • Dental

  • Vision

  • Retirement

Validate a broad range of models used across credit risk, treasury management (ALM), finance, underwriting, and related areas, includes both traditional statistical models and artificial intelligence ...

Wintrust

Risk Management Officer

Rosemont, IL · Hybrid

Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric/ mathematical/qualitative (expert judgment) models for stress testing, asset allocation ...

Wintrust

Risk Management Officer

Rosemont, IL · On-site

Model Validation * Perform independent and comprehensive validation of bank-wide statistical/econometric/ mathematical/qualitative (expert judgment) models for stress testing, asset allocation ...

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Model Validation information

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How much do model validation jobs pay per hour?

As of Aug 14, 2026, the average hourly pay for model validation in Chicago, IL is $53.56, according to ZipRecruiter salary data. Most workers in this role earn between $40.62 and $65.14 per hour, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive in the model validation position, and why are they important?

To thrive as a Model Validation professional, you need strong quantitative, statistical, and analytical skills, often supported by a degree in mathematics, statistics, finance, or a related field. Proficiency with programming languages such as Python or R, statistical modeling software, and familiarity with regulatory guidelines like SR 11-7 or CCAR is essential. Outstanding attention to detail, problem-solving abilities, and clear communication are valuable soft skills in this role. These competencies are crucial for rigorously assessing complex models, documenting findings, and collaborating effectively with model developers and risk management teams.

What is a model validation?

A Model Validation job involves assessing and verifying the accuracy, reliability, and performance of mathematical and statistical models used in finance, risk management, or other industries. Professionals in this role conduct independent testing, evaluate assumptions, and ensure models comply with regulatory and internal standards. They identify weaknesses, suggest improvements, and help mitigate potential risks associated with model usage. Model validators often work with machine learning models, credit risk models, or trading algorithms, depending on the industry.

What are some common challenges faced by professionals in model validation roles?

One common challenge in Model Validation is staying up-to-date with evolving regulatory requirements and industry best practices, which can impact how models should be tested and documented. Model validators often work with highly complex financial or risk models, requiring strong analytical skills to assess underlying assumptions and potential risks. Additionally, balancing the need for thoroughness with tight deadlines and collaborating with model developers to address issues can be demanding. However, overcoming these challenges offers valuable opportunities to build expertise, work cross-functionally, and play a critical role in ensuring the integrity and reliability of key business decisions.

What are the most commonly searched types of Model Validation jobs in Chicago, IL?

The most popular types of Model Validation jobs in Chicago, IL are:

What are popular job titles related to Model Validation jobs in Chicago, IL?

For Model Validation jobs in Chicago, IL, the most frequently searched job titles are:

What job categories do people searching Model Validation jobs in Chicago, IL look for?

The top searched job categories for Model Validation jobs in Chicago, IL are:

What cities near Chicago, IL are hiring for Model Validation jobs?

Cities near Chicago, IL with the most Model Validation job openings:

Model Validation jobs near you
Infographic showing various Model Validation job openings in Chicago, IL as of August 2026, with employment types broken down into 2% As Needed, 80% Full Time, 14% Part Time, 1% Temporary, and 3% Contract. Highlights an 90% Physical, 3% Hybrid, and 7% Remote job distribution, with an average salary of $111,413 per year, or $53.6 per hour.

AVP, Model Validation

Synchrony

Chicago, IL • On-site

Full-time

Re-posted 3 days ago

Job description

Role Summary/Purpose:
The AVP, Model Validation is responsible for model validation and ensure they are meeting Model Risk Management policies, standards, procedures as well as regulations (OCC2011-12/SR 11-7). This role requires high level of expertise with minimal technical supervision, requiring the ability to lead validation projects, take accountability for validation results across various model categories, and make meaningful contributions to projects.
Essential Responsibilities:
  • Serve as a key contributor and lead analyst performing model validation with minimal supervision for credit acquisition, account management, fraud and marketing models built using both machine learning algorithms and traditional logistic regression techniques.
  • Perform the full scope end-to-end validation independently for assigned internally and vendor developed new models and existing models.
  • Lead/Perform the review and maintenance of relevant model and validation documentation, perform in depth analysis on large data sets and reports to support discussions on key analytics and model risks..
  • 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 resolve problems independently.
  • Collaborate with the Synchrony Financial business teams to uncover and highlight risk associated with models.
  • Keep pace with the latest model developments in academia, regulatory environment, risk technology (vendor and in-house) and financial services industries in order to provide expert guidance to the Synchrony Financial functions.
  • Support regulatory examinations and internal audits of the modeling process and selected models samples.
  • Provide technical consultation and process improvement to model risk management on recommended solution based on solid research in the academic and industry practice.
  • Perform other duties and/or special projects as assigned.

Qualifications/Requirements:
  • Master's degree (or foreign equivalent) in Statistics, Mathematics, Data Science or related quantitative field and 4+ years' experience in model development / model validation experience in financial services, banking, or retail.
  • 4+ years of hands-on and proven experience with data science and statistical tools including Python, R, SAS, SQL, SPARK, Data Lake, H2O, SageMaker and AWS.
  • 4+ years of statistical analysis and the handling large amounts of data and analyzing for trends.
  • 4+ years of experience with the application of US regulatory requirements for Model Risk Management.
  • Ability and flexibility to travel for business as required

Desired Characteristics:
  • Strong knowledge of Regulatory requirements for Model Risk Management with proven track records of delivering Regulatory requirements.
  • 5+ years of proven experience in Model Risk Management in modeling and validation in the financial services industry including both analytic/modeling/quantitative experience and governance or other credit/financial discipline.
  • Experience in people and project management, including demonstrated ability to develop actionable plan to meet high level objectives, strong execution, and timeline sensitive deliverables.
  • Sharp focus on accuracy with extreme attention to detail.
  • Knowledge of Credit Card/Consumer Finance products and business model.
  • Experience with Machine Learning / AI methodologies and related applications, including generative AI model validation and validation framework development.
  • Excellent written and oral communication and presentation skills.

Grade/Level: 10
The salary range for this position is 100,000.00 - 170,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.
Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.
Salaries are adjusted according to market in CA, NY Metro and Seattle.
Our Way of Working:
We're proud to offer you flexibility. At Synchrony, our way of working allows you to have the option to work from home near one of our Hubs or come into one of our offices. You will be required to commute to your nearest Hub (either virtual or physical) for in-person engagement activities such as regular business or team meetings, training and culture events.
*Field Sales and some Commercial team roles may have varied location requirements based upon partner obligations or preferences.
Eligibility Requirements:
  • You must be 18 years or older
  • You must have a high school diploma or equivalent
  • You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
  • You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
  • New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).

Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Our Commitment:
When you join us, you'll be part of an inclusive culture where your individual skills, experience, and voice are not only heard - but valued. Together, we're building a future where we can all belong, connect, and turn ideals into action. More than 50% of our workforce is engaged in our Employee Resource Groups (ERGs), where community and passion intersect to offer a safe space to learn and grow.
This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status. We're proud to have an award-winning culture for all.
Reasonable Accommodation Notice:
  • Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
  • If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time

Job Family Group:
Credit

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