Senior Model Risk Manager

August 8

🏄 California – Remote

Although this job is listed in California, this company may be open to hiring remote in other states.

🗽 New York – Remote

Although this job is listed in New York, this company may be open to hiring remote in other states.

+1 more states

🏄 California – Remote 🗽 New York – Remote 🌲 Oregon – Remote

💵 $180.6k - $250.9k / year

⏰ Full Time

🟠 Senior

🎲 Risk

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Mercury

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Fintech • Finance • SaaS

Mercury is a financial technology company that provides online business banking services, although it is not a bank itself. It partners with FDIC-insured banks like Choice Financial Group, Column N. A. , and Evolve Bank & Trust to offer banking services. Mercury aims to simplify financial operations for startups and businesses by offering a range of services including checking and savings accounts, treasury management, corporate cards, expense management, invoicing, and accounting automations. The platform is designed to streamline various banking tasks and enhance financial workflows with features like fraud monitoring and account security. It also offers investment opportunities through its Mercury Treasury product and startup support through its Mercury Raise platform.

201 - 500 employees

Founded 2019

💳 Fintech

💸 Finance

☁️ SaaS

📋 Description

• Lead the validation, monitoring, and governance of rule-based detection models, data pipelines, vendor models and ML/AI models and tools. • Ensure Mercury’s models are accurate, compliant, and robust, and support the continuous development of our model risk framework in alignment with regulatory expectations. • Collaborate closely with model developers, compliance leads, and engineering partners while reporting into the Head of Model Risk Management. • Perform independent model validation with a focus of AML and sanctions models, including transaction monitoring, customer risk scoring, sanctions screening, related AI tools, etc. • Assess model methodologies, data integrity, assumptions, implementation, and output reasonableness. • Evaluate emerging modeling techniques, such as behavioral analytics and machine learning, for suitability in financial crime detection. • Support the establishment and maintenance of monitoring plans for model performance, stability, and concept drift. • Lead periodic model reviews, recalibrations, and performance assessments in coordination with model owners. • Track model inventory, issue remediation, and documentation standards under SR 11-7 and internal governance requirements. • Recommend risk mitigation strategies for model limitations, including compensating controls, overrides, and thresholds. • Prepare model validation reports and technical summaries in response to requests from internal audit, executives, bank partners and regulators. • Partner with compliance and legal teams to ensure model alignment with regulatory standards (e.g., BSA/AML, OFAC, FATF, FinCEN).

🎯 Requirements

• Bachelor’s degree in Statistics, Mathematics, Computer Science, Engineering, Finance, or a related field. Master’s degree or PhD is preferred. • 6–8 years of experience in model risk management, model development, quantitative analytics or data science. • 2-4 years of experience in financial crimes related modeling and tuning techniques. • Strong command of statistical analysis and data validation methods; proficiency in SQL and Python. Knowledge of Haskell is a plus but not required. • Solid understanding of regulatory frameworks (e.g., SR 11-7, OCC 2011-12, FinCEN advisories). • Experience drafting validation reports, audit response materials, and stakeholder briefings. • Familiarity with Sanctions screening vendor tools (e.g., Bridger, Fircosoft, etc) is a plus. • Experience with Machine Learning and /or AI models is a plus. • CAMS, CRCM, or equivalent certification is a plus. • Critical thinking skills and investigative rigor when reviewing data, assumptions, and outputs. • A healthy dose of skepticism combined with a constructive, solution-oriented mindset. • Exceptional attention to detail across documentation, validation artifacts, and analysis. • Strong communication skills, including the ability to write clear, structured, and technically sound documentation. • Comfort in an ambiguous, fast-paced, and rapidly changing business and regulatory environment. • Ambitious sense of curiosity and willingness to explore how compliance and risk management impacts Mercury’s products and our customers outside of one’s comfort zone, such as new markets or financial products. • Respect for and interest in financial rules and regulations, as well as an eagerness to innovate and drive the industry forward.

🏖️ Benefits

• Base salary • Equity • Benefits