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Senior Model Risk Management Jobs in Chicago, IL

... and portfolio management? Join us as an Investments & Risk Manager and take on a key role in ... models for investment opportunities. * Collaborate with senior team members to assess new ...

Global Head of Risk Management

Chicago, IL ยท On-site

$225K - $300K/yr

Work closely with Senior Management on identifying and assessing risks of potential and existing ... Model, analyze, and optimize existing and new risk matrices * Drive the development and ...

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Showing results 1-20

Senior Model Risk Management information

See Chicago, IL salary details

$23.2K

$121.8K

$216.3K

How much do senior model risk management jobs pay per year?

As of Jul 5, 2026, the average yearly pay for senior model risk management in Chicago, IL is $121,823.00, according to ZipRecruiter salary data. Most workers in this role earn between $87,000.00 and $149,400.00 per year, depending on experience, location, and employer.

What is the difference between Senior Model Risk Management vs Model Validation Analyst?

AspectSenior Model Risk ManagementModel Validation Analyst
CredentialsAdvanced degrees in finance, statistics, or related fields; certifications like FRM or CFASimilar credentials; often holds CFA, FRM, or related certifications
Work EnvironmentStrategic oversight, risk assessment, policy development within financial institutionsHands-on model testing, validation, and documentation in quantitative teams
Industry UsageUsed across banking, insurance, asset management for risk governancePrimarily in banking and financial services for model validation roles

While both roles require quantitative expertise and relevant certifications, Senior Model Risk Management focuses on overseeing and managing model risks at a strategic level, whereas Model Validation Analysts concentrate on testing and validating models to ensure accuracy and compliance.

What are the most commonly searched types of Model Risk Management jobs in Chicago, IL? The most popular types of Model Risk Management jobs in Chicago, IL are:
What are popular job titles related to Senior Model Risk Management jobs in Chicago, IL? For Senior Model Risk Management jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Senior Model Risk Management jobs in Chicago, IL look for? The top searched job categories for Senior Model Risk Management jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Senior Model Risk Management jobs? Cities near Chicago, IL with the most Senior Model Risk Management job openings:
Infographic showing various Senior Model Risk Management job openings in Chicago, IL as of June 2026, with employment types broken down into 100% Full Time. Highlights an 100% In-person job distribution, with an average salary of $121,823 per year, or $58.6 per hour.

Validation Senior Analyst Model Risk -Chicago, IL -Hybrid (Chicago)

FinTrust Connect

Chicago, IL โ€ข On-site

$70 - $150/hr

Full-time

Posted 4 days ago


Job description

About the job Validation Senior Analyst Model Risk -Chicago, IL -Hybrid

FinTrust Connect Chicago IL Hybrid

Share Your Resume and Build Your Future!

Join our Talent Community for Chicago based opportunities across banks and broker dealers. On site access supports committee sessions and closure testing. Market postings in Chicago highlight senior analyst scope with full coverage of conceptual soundness and benchmarking and implementation checks.

As a Validation Senior Analyst you will lead testing across market and credit and treasury and AML models, produce clear issues and action plans, and support monitoring setup for production.

Requirements

4 to 7 years in model validation or quantitative audit

Proven work on backtesting and benchmarking and implementation and performance monitoring

Python or R and SQL and comfort with version control and notebooks

Strong report writing for risk and audit stakeholders

Responsibilities

Execute full scope validations with reproducible scripts

Benchmark models with challengers and independent data

Draft findings with severity and dates and ownership

Build monitoring KPIs and drift and stability checks

Prepare exam evidence and respond to RFIs

Outcomes we track

Documentation completeness 100%

Repeat findings down 30% in 2 quarters

Compensation and terms

Consultant pay $70 to $150 per hour

Contract Hybrid Chicago IL or Remote US W2 or 1099

Keywords
Model Validation, Market Risk, Credit Risk, SR 11 7, Backtesting, Benchmarking, Python, R, SQL, Workpapers, Chicago, Governance, Committee, RFIs

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