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Model Validation Jobs in Chicago, IL (NOW HIRING)

RSM

Temporary AML IT Audit Consultant

Chicago, IL · Remote

$82/hr

Conduct model validation and controls testing activities, including assessment of governance, methodologies, assumptions, and supporting documentation. * Review technical documentation, system ...

RSM

Temporary AML IT Audit Consultant

Chicago, IL · Remote

$89/hr

Conduct model validation and controls testing activities, including assessment of governance, methodologies, assumptions, and supporting documentation. * Review technical documentation, system ...

RSM

Temporary AML IT Audit Consultant

Chicago, IL · Remote

$89/hr

Conduct model validation and controls testing activities, including assessment of governance, methodologies, assumptions, and supporting documentation. * Review technical documentation, system ...

F.tech Inc.

Engineer, Validation

Chicago, IL · On-site

Prepare independent FEA model setup and Model check to ensure accurate analysis; Document test procedures, programs, and test systems; Create and maintain engineering validation and analysis reports ...

US Bank

Quantitative Modeler Manager - AML

Chicago, IL

$56.50 - $73.25/hr

Bank Model Risk Governance standards, and collaborating with Model Risk Validation to address any concerns related to the models throughout the life of the program. * Ongoing model monitoring in ...

Ace Technologies, Inc.

Validation Engineer

Chicago, IL · On-site

... validation, process improvement, testing, and inspection to ensure that products are ideal and ... Monday-Friday, 8:00am - 5:00pm · Hybrid Work Model o Monday & Friday: Remote o Tuesday, Wednesday ...

Collabera

Validation Scientist

Glenview, IL

As a half a billion dollar IT company, Collabera's client-centric business model, commitment to service excellence and Global Delivery Model enables its global 2000 and leading mid-market clients to ...

ZS

Computational Modeling Consultant - CMC

Chicago, IL · On-site

$160K - $177K/yr

Support model validation, adoption, and integration into scientific and operational workflows. * Apply modeling expertise across modalities and manufacturing processes, adapting approaches to new ...

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Model Validation information

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How much do model validation jobs pay per hour?

As of Sep 11, 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 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 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 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?

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

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Model Validation jobs near you
Infographic showing various Model Validation job openings in Chicago, IL as of September 2026, with employment types broken down into 2% As Needed, 83% Full Time, 13% Part Time, and 2% Contract. Highlights an 87% Physical, 3% Hybrid, and 10% Remote job distribution, with an average salary of $111,413 per year, or $53.6 per hour.

Senior Scientist - Hurricane Model Developer, Impact Forecasting

Chicago, IL • On-site

Aon Corporation
Business Management Consulting • 10K+ employees
Learn more about Aon Corporationexternal

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 14 days ago

Aon rating

8.3

Company rating: 8.3 out of 10

Based on 79 frontline employees who took The Breakroom Quiz

Job description

Senior Scientist - Hurricane Model Developer, Impact Forecasting
This is a hybrid role with the flexibility to work virtually and from our Boston or Chicago office.
Aon is in the Business of Better Decisions
At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.
United through trust as one inclusive team, we are passionate about helping our colleagues and clients succeed.
What the Role Looks Like
As a Senior Scientist - Hurricane Model Developer, you will contribute to the development of industry-leading catastrophe models used to assess and manage hurricane and tropical cyclone risk. You will apply scientific research, advanced analytics, and quantitative modeling techniques to enhance hazard representation, evaluate climate-related impacts, and support innovative solutions for clients around the world.
Working closely with scientists, engineers, data specialists, and product teams, you will help deliver high-quality modeling capabilities that improve risk insight, decision-making, and resilience planning.
Key Responsibilities
  • Develop and enhance hurricane and tropical cyclone catastrophe models, including stochastic event generation, wind field modeling, hazard characterization, and parameter estimation.
  • Build, maintain, and improve model components used to quantify catastrophe risk and estimate potential insurance losses.
  • Prepare, transform, integrate, and analyze large meteorological, geospatial, and insurance datasets to support model development and research initiatives.
  • Develop and optimize automated data processing and forecasting workflows that improve the efficiency, scalability, and accuracy of modeling solutions.
  • Manage and maintain modeling datasets, ensuring effective data organization, accessibility, documentation, and governance throughout the model development lifecycle.
  • Implement data quality controls, validation procedures, and performance testing to ensure reliable and accurate model outputs.
  • Incorporate emerging climate science research into catastrophe models to evaluate potential impacts on future hurricane-related losses.
  • Utilize Python, SQL, and related analytical tools to support data analysis, model development, and automation efforts.
  • Conduct quantitative analyses to identify risk drivers, evaluate uncertainty, and support catastrophe risk management decisions.
  • Collaborate across multidisciplinary teams to deliver modeling enhancements and research initiatives aligned with business priorities and project timelines.
  • Document methodologies, validation results, and research findings through clear technical reports and model documentation.
  • Communicate complex scientific concepts and analytical findings effectively to both technical and non-technical audiences.
  • Stay informed of developments in atmospheric science, climate research, data science, and catastrophe modeling to advance product capabilities and innovation.

Skills and Experience That Will Lead to Success
Required Qualifications
  • Master's degree or PhD in Meteorology, Climate Science, Oceanography, Earth Science, Applied Mathematics, Physics, or a related field, or equivalent industry experience.
  • Experience developing, analyzing, or enhancing catastrophe models, risk models, or related scientific modeling solutions.
  • Strong quantitative analysis and problem-solving skills with experience applying statistical or computational methods to complex datasets.
  • Experience programming in Python, MATLAB, R, or similar analytical languages, including developing tools, workflows, or automated analytical solutions.
  • Experience collecting, processing, manipulating, and analyzing large datasets to generate actionable insights.
  • Experience conducting scientific research and translating findings into practical modeling applications.
  • Ability to communicate technical information clearly through reports, documentation, presentations, and stakeholder discussions.
  • Demonstrated ability to work collaboratively across teams while managing priorities and delivering high-quality work.

Preferred Qualifications
  • Direct experience with hurricane, tropical cyclone, or weather-related catastrophe modeling.
  • Experience using SQL to query, manage, and analyze relational datasets.
  • Experience with ArcGIS, QGIS, or other geospatial analysis tools.
  • Knowledge of climate change impacts on natural catastrophe risk.
  • Experience supporting model validation, data quality, or model governance activities.

For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.
Aon is not accepting unsolicited resumes from search firms for this position. If you are a search firm, you will not be compensated in any way for your submission of a candidate, even if Aon hires that candidate.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
The salary range for this position (intended for U.S. applicants) is $100,000 to $130,000 annually. The actual salary will vary based on applicant's education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant's geographic location.
This position is eligible to participate in one of Aon's annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonusvaries and is subject to the terms and conditions of the applicable incentive plan.
Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon's discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.
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About Aon

Sourced by ZipRecruiter

Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Industry

Business management consulting

Company size

10,000+ Employees

Headquarters location

Chicago, IL, US

Year founded

1992

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