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Risk Modeler Jobs (NOW HIRING)

Careers at KKR

VP, Credit Risk Modeling

New York, NY · On-site

$160K - $175K/yr

Build and own portfolio credit risk models that quantify tail losses from default and rating migration across asset classes * Develop a credit risk framework: calibrate transition matrices, model ...

KKR

VP, Credit Risk Modeling

Manhattan, NY · On-site

$160K - $175K/yr

VP, Credit Risk Modeling New York, New York, United States KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR ...

Careers at KKR

VP, Credit Risk Modeling

New York, NY · On-site

$160K - $175K/yr

Build and own portfolio credit risk models that quantify tail losses from default and rating migration across asset classes * Develop a credit risk framework: calibrate transition matrices, model ...

Aegis Corps

Risk Analyst

Washington, DC · On-site +1

We are seeking an experienced predictive risk modeler to perform risk assessment on FHA multifamily housing portfolio.To perform in this role, the potential candidate will need skills in econometrics ...

Ryan Specialty

Quantitative Risk Modeling Lead

Position Summary As a Quantitative Risk Modeling Led in the Ryan Credit Solutions department at Ryan Specialty, you will leverage your actuarial and quantitative expertise to shape the underwriting ...

IDBNY

Credit Risk Analytics & Modeling

Manhattan, NY · On-site

Head of Credit Risk Analytics & Modeling Visa Sponsorship: Not available About IDB Bank For more than 70 years, IDB Bank has been committed to delivering exceptional service and building long-term ...

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How much do risk modeler jobs pay per hour?

As of Aug 10, 2026, the average hourly pay for risk modeler in the United States is $40.33, according to ZipRecruiter salary data. Most workers in this role earn between $31.25 and $43.51 per hour, depending on experience, location, and employer.

How do risk modelers typically collaborate with other departments within an organization?

Risk Modelers often work closely with teams such as finance, underwriting, data analytics, and IT to ensure that models accurately reflect the organization's risk profile and business objectives. Regular communication is essential to gather relevant data, validate model assumptions, and present findings to stakeholders who may not have a technical background. This cross-functional collaboration helps translate complex quantitative results into actionable insights for decision-makers, making teamwork and clear communication key aspects of the role.

What are the key skills and qualifications needed to thrive as a risk modeler?

To thrive as a Risk Modeler, you need strong quantitative, analytical, and statistical skills, usually backed by a degree in mathematics, statistics, finance, or a related field. Familiarity with programming languages like Python or R, statistical modeling software, and certifications such as FRM or CFA are highly beneficial. Attention to detail, problem-solving abilities, and effective communication are vital soft skills for translating complex models into actionable insights. These skills and qualifications are essential for accurately assessing risk, informing decision-making, and supporting organizational resilience.

What is the difference between Risk Modeler vs Quantitative Analyst?

AspectRisk ModelerQuantitative Analyst
Required CredentialsBachelor's or Master's in Finance, Mathematics, or related fields; certifications like FRM or CFABachelor's or Master's in Finance, Mathematics, or related fields; certifications like CFA or CQF
Work EnvironmentFinancial institutions, risk management teams, insurance companiesInvestment banks, asset management firms, hedge funds
Employer & Industry UsagePrimarily in risk management roles within finance and insuranceIn investment analysis, trading, and portfolio management

While both roles require strong quantitative skills and similar educational backgrounds, Risk Modelers focus on developing models to assess and mitigate financial risks, often within risk management departments. Quantitative Analysts, on the other hand, primarily develop models for investment strategies, pricing, and trading decisions. The roles overlap in skills but differ in their primary focus and application within the financial industry.

More about Risk Modeler jobs
What job categories do people searching Risk Modeler jobs look for? The top searched job categories for Risk Modeler jobs are:
Risk Modeler jobs near you
Infographic showing various Risk Modeler job openings in the United States as of August 2026, with employment types broken down into 1% As Needed, 88% Full Time, 8% Part Time, and 3% Contract. Highlights an 88% Physical, 4% Hybrid, and 8% Remote job distribution, with an average salary of $83,896 per year, or $40.3 per hour.

Quantitative Risk Officer and Risk Model Developer

State Street Corporation

Clifton, NJ • On-site

$75K - $123K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Re-posted 2 days ago

Job description

Who we are looking for
A strong quantitative modeler to join the team as an Officer and Credit Risk Modeler based in New Jersey, Connecticut, or Boston. This role is part of the Centralized Modeling, Analytics and Operations Group within Enterprise Risk Management's Financial Risk Organization.
Why this role is important to us
The team you will be joining plays a critical role in the organization's overall success. Across the globe, institutional investors rely on us to manage risk, respond to complex challenges, and drive performance and profitability. To deliver on that mission, we need teams like yours-teams that help the organization operate effectively, adapt quickly, and remain resilient. In this role, you will focus on developing cutting-edge solutions that are both scalable and practical, while contributing to strong day-to-day execution. Join us if you are motivated to make a meaningful impact in the financial services industry from day one.
What you will be responsible for
As Credit Risk Modeler you will:
  • Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street's wholesale portfolios, including Commercial Real Estate (CRE), Corporate, Private Equity (PE) Fund and Private Credit (PC) exposures, etc.
  • Develop credit portfolio risk models for CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital
  • Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements
  • Review and verify key model assumptions with model owners
  • Review model outputs with properly justified opinions and judgments by experts from credit risk managers to capture forward-looking financial market and macro-economic outlooks
  • Implement internally developed models on risk analytical library platform
  • Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
  • Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics
  • Prepare and present required reports/reviews to model risk management, senior management and global regulators

What we value
These skills will help you succeed in this role:
  • Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies
  • Energetic/motivator: an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi-level workforce and instill a sense of urgency on a range of evolving goals and objectives
  • Organizational strengths: an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction
  • Confidence: a self-assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well-presented direction or analysis, with a willingness to negotiate, and concede, when needed
  • Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness

Education & Preferred Qualifications
  • MS or PhD in statistics or econometrics or equivalent, prefer research area in survival analysis/event history analyses or related areas; Prefer research area that involves heavy programming work with strong programming skills in Python/R/C/C++/SQL etc.
  • Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus.
  • Strong programming skills in Python/R/C/C++/SQL etc.
  • Demonstrated experiences working with model development teams, analytical library development team and technology
  • Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in financial industry

Salary Range:
$75,000 - $123,750 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
Discover more information on jobs at StateStreet.com/careers
Read our CEO Statement
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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About State Street

Sourced by ZipRecruiter

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

Boston, MA, US

Year founded

1792

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