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Senior Model Risk Management Jobs in Montclair, NJ

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Senior Model Risk Management information

See Montclair, NJ salary details

$22.9K

$120.5K

$214K

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

As of Jun 16, 2026, the average yearly pay for senior model risk management in Montclair, NJ is $120,508.00, according to ZipRecruiter salary data. Most workers in this role earn between $86,100.00 and $147,800.00 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 Montclair, NJ? The most popular types of Model Risk Management jobs in Montclair, NJ are:
What job categories do people searching Senior Model Risk Management jobs in Montclair, NJ look for? The top searched job categories for Senior Model Risk Management jobs in Montclair, NJ are:
What cities near Montclair, NJ are hiring for Senior Model Risk Management jobs? Cities near Montclair, NJ with the most Senior Model Risk Management job openings:
Senior Model Risk Management jobs near you
Infographic showing various Senior Model Risk Management job openings in Montclair, NJ as of June 2026, with employment types broken down into 1% Locum Tenens, 1% As Needed, 83% Full Time, 11% Part Time, 2% Temporary, and 2% Contract. Highlights an 85% Physical, 6% Hybrid, and 9% Remote job distribution, with an average salary of $120,508 per year, or $57.9 per hour.
Risk Management - Model Risk Program Associate

Risk Management - Model Risk Program Associate

JPMorgan Chase & Co

Manhattan, NY • On-site

Full-time

Medical, Retirement

Posted 24 days ago

JPMorgan Chase & Co. rating

8.1

Company rating: 8.1 out of 10

Based on 470 frontline employees who took The Breakroom Quiz

46th of 141 rated banks

Job description

Bring your expertise to JPMorganChase. As part of Risk Management and Compliance, you play a crucial role in maintaining JPMorganChase's strength and resilience. You help the firm grow its business in a responsible way by anticipating new and emerging risks, and using your expert judgement to solve real-world challenges that impact our company, customers and communities. Our culture in Risk Management and Compliance is all about thinking outside the box, challenging the status quo and striving to be best-in-class.

As a Quant Model Risk Associate in the Model Risk Governance and Review team, you will be responsible for assessing and mitigating the risks associated with complex models used for valuation, risk measurement, capital calculation, and decision-making purposes. You'll be at the forefront of innovation, driving continuous improvement in a dynamic and collaborative environment. This role also provides the opportunity to gain exposure to various business and functional areas, as well as collaborate closely with model developers and users.

Job Responsibilities

  • Perform thorough reviews of complex credit, interest rate, and equity pricing models, including valuation engines and reserve methodologies. Analyze the conceptual soundness, model design, and appropriateness of models for specific products and structures.
  • Evaluate model behavior and ensure the suitability of pricing models and engines for their intended applications, identifying potential limitations and areas for improvement.
  • Develop and implement alternative model benchmarks. Design and maintain robust model performance metrics to compare and monitor the outcomes of various models.
  • Continuously evaluate model performance, ensuring models remain fit for purpose and compliant with internal and regulatory standards. Recommend enhancements and oversee remediation where necessary.
  • Serve as the primary point of contact for the business regarding new model implementations and changes to existing models. Provide expert guidance on model usage, limitations, and governance requirements.
  • Liaise effectively with model developers, Risk, and Valuation Control Groups. Offer guidance and support on model risk management, validation standards, and regulatory expectations.

Required Qualifications, Capabilities and Skills 

  • Advanced degree (MSc, PhD, or equivalent) in a quantitative discipline such as mathematics, statistics, financial engineering, or related field.
  • Advanced knowledge of probability theory, stochastic processes, statistics, partial differential equations, and numerical analysis, with demonstrated ability to apply these concepts to financial modeling and risk assessment.
  • Deep understanding of option pricing theory and quantitative models for pricing and hedging derivatives, including familiarity with stochastic calculus and risk-neutral valuation.
  • Strong analytical and problem-solving skills, with an inquisitive mindset and the ability to formulate insightful questions, identify model limitations, and escalate issues appropriately.
  • Excellent written and verbal communication skills, with the ability to clearly explain complex quantitative concepts to both technical and non-technical stakeholders.
  • Proficient programming skills in languages such as C/C++, Python, or similar, with experience implementing numerical algorithms and developing model prototypes.
  • Demonstrated curiosity and ownership, with a strong willingness to work collaboratively within a team-oriented environment.
  • One to three years' experience in front office model development or in model review, validation, and governance within financial services, with a strong understanding of credit, interest rate, and equity pricing models.

Preferred Qualifications, Capabilities and Skills 

  • Experience in a front office or model risk quantitative role.
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process. 

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we're setting our businesses, clients, customers and employees up for success.

Risk Management helps the firm understand, manage and anticipate risks in a constantly changing environment. The work covers areas such as evaluating country-specific risk, understanding regulatory changes and determining credit worthiness. Risk Management provides independent oversight and maintains an effective control environment.

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