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Stochastic Modeling Jobs (NOW HIRING)

TMS

Data Scientist

New York, NY · On-site

$60 - $62/hr

Familiarity with scenario analysis/stress-testing, simulation analysis, rare event modeling, and stochastic modeling preferred but not required. * Substantial experience with Python, R, and relevant ...

Steadily

Catastrophe Risk Manager

Overland Park, KS · On-site

Continuously elevate pricing sophistication ; translate stochastic modeling, external data, and new analytics into sharper underwriting insight. Your Background * Required * 5+ years of catastrophe ...

The Pennsylvania State University

... Stochastic Modeling/STAT 418 - Introduction to Probability and Stochastic Processes for Engineering/STAT 460 - Intermediate Applied Statistics/STAT 461 - Analysis of Variance STAT 462 - Applied ...

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$25.5K

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How much do stochastic modeling jobs pay per year?

As of Jun 4, 2026, the average yearly pay for stochastic modeling in the United States is $104,419.00, according to ZipRecruiter salary data. Most workers in this role earn between $69,500.00 and $128,000.00 per year, depending on experience, location, and employer.

What is a Stochastic Modeling job?

A Stochastic Modeling job involves developing mathematical models that incorporate randomness to analyze uncertain systems and predict outcomes. Professionals in this field apply probability theory, statistics, and computational techniques to fields such as finance, insurance, engineering, and data science. They build and validate models to assess risks, optimize decision-making, and improve forecasting accuracy. Strong analytical skills and proficiency in programming languages like Python, R, or MATLAB are often required.

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

To thrive in stochastic modeling, you need strong mathematical and statistical skills, often backed by a degree in mathematics, statistics, data science, or a related field. Expertise with technical tools such as R, Python, MATLAB, and statistical modeling software, as well as familiarity with industry-standard certifications like FRM or CFA in finance, is highly valued. Analytical thinking, attention to detail, and the ability to communicate complex ideas to non-technical stakeholders are critical soft skills. These competencies allow you to create accurate models for forecasting and risk assessment, helping organizations make informed decisions in uncertain environments.

What are some typical daily responsibilities for a professional in stochastic modeling?

As a stochastic modeling professional, your daily tasks might include developing and validating probabilistic models, analyzing large datasets, and performing simulations to forecast outcomes or assess risks. You’ll often collaborate with cross-functional teams such as data scientists, financial analysts, or engineers to translate real-world problems into mathematical frameworks. Regular responsibilities also involve presenting findings to stakeholders, refining models based on new data, and staying updated on the latest modeling techniques in your industry. This role provides a balance of independent analytical work and teamwork, offering diverse challenges and skill development opportunities.

What jobs make 3000 a month without a degree?

In stochastic modeling or related fields, entry-level roles such as data analysts, financial analysts, or junior quantitative analysts can sometimes earn around $3,000 per month without a degree, especially with relevant skills in programming, statistics, and software tools like Excel or Python. Many of these positions value practical experience and certifications over formal education, and remote or freelance opportunities may also meet this income level.
More about Stochastic Modeling jobs
What are the most commonly searched types of Stochastic Modeling jobs? The most popular types of Stochastic Modeling jobs are:
What job categories do people searching Stochastic Modeling jobs look for? The top searched job categories for Stochastic Modeling jobs are:
Stochastic Modeling jobs near you
Infographic showing various Stochastic Modeling job openings in the United States as of May 2026, with employment types broken down into 81% Full Time, 6% Part Time, and 13% Contract. Highlights an 87% In-person, and 13% Hybrid job distribution, with an average salary of $104,419 per year, or $50.2 per hour.

Finance Data and Modeling Analyst (Hybrid - Cleveland, OH)

Third Federal

Cleveland, OH • On-site

$60K - $90K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 8 days ago

Job description

Third Federal is a leading lender of conventional home mortgages lending in 27 states, plus the District of Columbia, with retail branch offices in Ohio and Florida. Our mission is to help people achieve the dream of home ownership and financial security while creating value for our customers, our communities, our associates, and our stockholders. Our value system of love (concern for others), trust, respect, a commitment to excellence, and fun is at the heart of our commitment to our mission, and just as importantly, to our company culture. Through this, we help people find the loan or savings product that makes sense for them.
At Third Federal, you will find strength and stability in your career. In our nearly 90-year history, we have never had layoffs, and have one of the lowest annual turnover rates at 6% (versus an industry average of nearly 19%). We have been certified as a 'Great Place to Work' multiple times in the last decade alone, and have been recognized with several additional workplace awards and recognitions. Because Third Federal associates are the foundation of our success, we take a genuine interest in each of them - from their professional development to their health and wellness.
Role Summary
We are seeking an experienced Finance and Data Modeling Analyst to join our Finance department here at Third Federal. The analyst will contribute to our financial modeling while also contributing to the ongoing monitoring and reporting of key financial metrics such as net interest margin and capital adequacy. A successful candidate will have a passion to pursue and connect economic and financial market conditions into our consumer and portfolio performance measurements. The position will offer an opportunity to obtain extensive knowledge across multiple financial disciplines (interest rate risk, credit risk, capital planning, forecasting and liquidity management) through active engagement on material covered in key committees coupled with the hands-on efforts within our modeling framework.
This position is eligible to be hybrid out of our Cleveland, OH corporate offices (3 days in office) after training.
Responsibilities
  • Interest Rate Risk Modeling Support and Ownership
    • Maintain model documentation for Empyrean and sub-models
    • Conduct assumption change analysis and maintain model change logs
    • Run convergence testing to determine appropriate paths for stochastic modeling
    • Run sensitivity analysis against key behavioral assumptions
    • Maintain and prepare model back-testing and reporting
    • Analyze model results and connections to economic environments
  • Model ownership for Capital Planning Stress Testing
  • Support CECL Modeling process and alternate economic scenarios
  • Support Liquidity Modeling process and analysis
  • Own key components of monthly and quarterly analytical processes
    • Prepay analysis and data support for ALCO
    • Orchestrate the monitoring around the Balance Sheet Management Program
    • Loan Fair Value Reporting
    • Parent Company IRR Profile
    • High Risk Security Testing
    • Actual-to-Budget Variance Analysis
  • Create and maintain reporting on various financial components of the bank
    • Funding WAM, Wholesale Borrowings Outlook, Texas Ratio, etc.
  • Take part in managing and balancing the daily cash management worksheet
  • Participate in special projects and analyses, including process optimization and automation

Requirements
  • 3+ years of Interest Rate Risk analysis or finance experience
  • Banking experience preferred
  • Strong aptitude and passion for financial markets
  • Prior experience dealing with models
  • Strong analytical and problem-solving skills
  • Ability to manage priorities and adapt to changing needs of the business
  • Coding experience a plus (any language, any level)
  • Excellent written and oral communication skills
  • Ability to work independently and in a group environment
  • Attention to accuracy and detail is essential
  • A positive, pro-active attitude and desire to cross-train and mentor others
  • Willingness to participate in tasks and other projects within the association as needed
  • High school diploma/GED required; bachelor's degree in finance or related field preferred, or equivalent experience

Third Federal Perks & Benefits (not editable)
  • Competitive compensation packages
  • Medical, dental, vision, and more
  • 401k match
  • 11 Bank Holidays + vacation/sick time
  • Stock Ownership Allocation
  • Exceptional culture and value system
  • Strong work/life balance
  • Growth opportunities
  • Mortgage Discount Program
  • Education Reimbursement Program

Our anticipated pay range for this position is $60,000.00 - $90,000.00 annually. At Third Federal, we're committed to transparency throughout the hiring process. The pay range listed is based on relevant market data, role responsibilities, and skills required for the position. Individual pay will be thoughtfully determined by a candidate's qualifications, experience, and other relevant factors.
Third Federal is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, ethnicity, religion, sex, national origin, gender identification or sexual orientation, disability, protected veteran status or any other classification protected under law.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.

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