Manager – Model Validation / Model Risk Audit Consulting (Financial Services)

Location: Chicago, United States

Salary: $101,000–$203,000 per year, plus discretionary bonus based on firm and individual performance.

Company

Professional services organization providing risk consulting and audit services to middle-market and financial services clients.

What you will do

• Lead independent model validation and model risk internal audit engagements for banks, asset managers, and other financial institutions.
• Assess model conceptual soundness, assumptions, development methodology, data, implementation, inputs, outputs, performance, limitations, monitoring, and controls.
• Evaluate model governance, documentation, change management, and operating effectiveness across complex model environments.
• Design and execute input/output, data transformation, rules, calculations, replication, and outcome testing using analytics tools.
• Manage concurrent projects, including planning, scoping, budgeting, execution, reporting, and client presentations.
• Coach junior staff, review work, communicate findings, and contribute to proposals and business development.

Requirements

• Bachelor’s or Master’s degree in Accounting, Finance, Statistics, Economics, or a related field.
• At least 6 years of relevant experience in model validation, internal audit, risk management, or internal controls within financial services.
• Strong understanding of model risk management, supervisory expectations, risk-based internal audit, internal controls, and governance frameworks.
• Experience leading or performing model validations or audits involving complex models, systems, data-driven processes, and control or substantive testing.
• Proficiency in Python, Alteryx, R, or similar analytics tools; SQL or SAS experience is a plus.
• Ability to manage teams, mentor professionals, communicate clearly, and travel as needed, estimated at less than 30%.

Nice to have

• CPA, CIA, CISA, FRM, CFA, CAMS, or another relevant professional certification.
• Experience in public accounting, professional services consulting, internal audit, independent model validation, or model risk management.
• Experience presenting to risk committees or audit committees.
• Experience with AML, sanctions, transaction monitoring, customer risk rating, or other financial crime models.

Culture & Benefits

• Competitive benefits and compensation package.
• Flexible scheduling to support work-life balance while serving clients.
• Discretionary bonus based on firm and individual performance.
• Equal employment opportunity and reasonable accommodation for applicants with disabilities.