Head of Risk Management

Sotalent; Boston (MA); On-site; USD 180,000 - 280,000; Full time

Job summary

Sotalent is seeking a Head of Model Risk Management – Actuarial & Enterprise Risk to lead enterprise-wide governance, validation and regulatory alignment for actuarial, financial, investment and data science models in a financial services environment.

The role requires 10+ years in financial services, FSA designation, and proven ability to communicate complex topics to senior leaders. You will build a high-performing team and drive risk-informed decision making across the organisation.

Qualifications

• Bachelor’s degree in a quantitative field.
• FSA designation required.
• 10+ years in financial services with actuarial/financial models.
• 5+ years presenting to senior leaders.
• 5+ years influencing strategy.

Responsibilities

• Lead the enterprise model risk management programme.
• Own model risk policies and validation methods.
• Develop AI tool strategies for risk management.
• Establish validation plans and oversee validations.
• Ensure governance aligns with regulators.
• Report risks to senior leadership.
• Build and coach a high-performing team.
• Partner with ERM and stakeholders.
• Monitor regulatory guidance and trends.
• Provide risk-informed decision support.

Skills

Leadership

Stakeholder management

Communication skills

Regulatory knowledge

AI knowledge

Education

Bachelor’s degree

FSA

Job description

Head of Model Risk Management – Actuarial & Enterprise Risk

Location: Boston, MA or Springfield, MA

Job Type: Full-time

Role Overview

Lead enterprise-wide model risk management within a financial services environment, overseeing model governance, independent validation and regulatory alignment. This senior leadership role will shape model risk strategy across actuarial, financial, investment, risk and data science models, while advising senior leadership and supporting the responsible use of advanced analytics and artificial intelligence.

Key Responsibilities

• Lead the enterprise model risk management programme, ensuring models are appropriately governed, validated, monitored and aligned with risk appetite.
• Own and enhance model risk policies, standards, validation methodologies, model inventory requirements and issue management processes.
• Develop strategies for using AI tools to improve the effectiveness and efficiency of model risk management.
• Establish risk-based validation plans and oversee timely, independent model validations.
• Ensure validation processes are consistent, auditable and aligned with governance and regulatory requirements.
• Report to senior leadership on model risk exposures, emerging risks, validation findings and remediation plans.
• Build, coach and develop a high-performing team of model validation and model risk professionals.
• Partner with Enterprise Risk Management, model owners and business stakeholders to strengthen risk culture, controls and accountability.
• Monitor regulatory guidance, industry trends and analytical developments, translating them into practical governance improvements.
• Provide constructive challenge and support risk-informed decision-making across the organisation.

Requirements

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Physics, Data Science or another quantitative discipline.
• Fellow of the Society of Actuaries (FSA).
• 10+ years of financial services experience, including significant exposure to actuarial, financial, risk or product models.
• 5+ years of experience presenting complex topics to senior leaders, committees, auditors or regulators.
• 5+ years of experience influencing strategy or senior-level decision-making.

Preferred Qualifications

• 5+ years of hands‑on actuarial modelling experience, including model development, implementation, validation, governance, assumption-setting or model risk management.
• 5+ years of people leadership experience.
• Strong understanding of models used in asset‑liability management (ALM), pricing, valuation, capital, risk measurement and financial reporting.
• Knowledge of model risk regulatory guidance, including expectations relating to artificial intelligence.
• Experience leading an enterprise risk management function or contributing significantly to a mature risk governance programme.
• Excellent communication and stakeholder management skills, with the ability to explain complex technical concepts to non-technical audiences.
• Strong business judgement, operating discipline and the ability to manage competing regulatory, business and governance priorities.
• Proven ability to lead through ambiguity and drive accountability across multiple business areas.