Model Risk Manager

🔥 12 hours ago

🌐 United States, Canada – Remote

🇺🇸 United States – Remote 🇨🇦 Canada – Remote

🏄 California, New York, +1 more states – Remote

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

💵 $128.6k - $160.7k / year

⏰ Full Time

🟡 Mid-level

🟠 Senior

🎲 Risk

🦅 H1B Visa Sponsor

This company has sponsored H1B visas in the past.

👻 Ghost score 0%

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Mercury

WebsiteLinkedInAll Job Openings

1001 - 5000 employees

Founded 2017

💳 Fintech

🏦 Banking

☁️ SaaS

Fintech • Banking • SaaS

Mercury is a software-driven fintech that provides business and personal banking products built for startups and small to mid-size companies. Its platform offers business checking and savings, Treasury products, business credit cards and spend management, payments and invoicing, accounting integrations and AI-powered automations, plus APIs and developer tools. Mercury partners with FDIC-insured banks to offer deposit protection, emphasizes virtual cards, granular spend controls, and workflow automations for teams, agencies, ecommerce brands, VC funds, and crypto businesses. The product is positioned as an all-in-one banking and finance platform delivered through a modern app and API.

📋 Description

• Perform independent validations and reviews of internally developed and third-party models across credit, fraud, BSA/AML, CECL, finance, liquidity, pricing, and operational risk • Evaluate model methodology, assumptions, data quality and lineage, implementation, and performance through outcomes analysis, benchmarking, back-testing, and sensitivity testing • Provide credible and constructive challenges to model developers, owners, and users • Assess model risk and materiality based on inherent risk, purpose, exposure, use, and potential impact • Maintain a complete and accurate model inventory, including ownership, risk rating, dependencies, limitations, validation status, monitoring requirements, and open issues • Review ongoing monitoring plans and results, including performance thresholds, overrides, data drift, model changes, and fitness for purpose • Evaluate vendor models and third-party analytical products • Document validation conclusions, identify issues, recommend remediation, and track findings through resolution • Support controlled model use when validation cannot be completed before implementation • Develop reporting on model risk, validation coverage, performance concerns, concentrations, dependencies, exceptions, and overdue remediation • Improve Mercury’s Model Risk Management Policy, standards, procedures, and templates • Use automation and analytical tools to improve model inventory management, testing, monitoring, and reporting • Partner with Data and AI Governance teams on boundaries between traditional model risk management and generative AI, agentic AI, and other analytical systems • Support regulatory examinations, Internal Audit reviews, and other assurance activities involving model risk

🎯 Requirements

• 5+ years of relevant experience in model validation, model development, quantitative risk analytics, or a related discipline within banking, fintech, financial services, or consulting • Bachelor’s degree in Statistics, Mathematics, Physics, Computer Science, Engineering, Financial Engineering or a related field • Strong knowledge of model risk management principles and current regulatory expectations, including the revised interagency guidance reflected in SR 26-2 • Intensive experience validating or developing models in areas such as BSA/AML, fraud, financial forecasting, CECL, capital, liquidity, and credit underwriting • Experience with machine learning methodologies such as XGBoost and random forests, scorecards, complex vendor models, and complex spreadsheet-based models • Proficiency with SQL and Python • Strong written and verbal communication skills • Exceptional attention to detail across documentation, code base, testing artifacts and quantitative analysis • Sound judgment and a practical, risk-based mindset • High ownership, intellectual curiosity, and comfort building processes in a fast evolving environment • Master’s degree or PhD is preferred • Experience helping build or materially enhance a model risk management program is preferred • Familiarity with bank regulatory examinations, charter readiness, or implementation of risk programs within a growing financial institution is preferred • Knowledge of Haskell is preferred

🏖️ Benefits

• Base salary • Equity (stock options/RSUs) • Benefits • Equal Employment Opportunity employer • Reasonable accommodations throughout the recruitment process for applicants with disabilities or special needs