Senior Model Risk Governance & Compliance Lead

FHLBank Chicago; Chicago (IL); On-site; USD 151,000 - 266,000; Full time

Benefits offered by this job

401(k) and Pension

5 weeks PTO + 11 holidays

Lifestyle Spending Account

Downtown Chicago location

Job summary

FHLBank Chicago seeks an experienced Model Risk Analyst to strengthen governance of models, AI/EUC tools, and risk controls. You will collaborate with the MRV team to ensure compliance with regulatory requirements and internal standards while supporting governance across the model lifecycle.

You will engage with risk managers and senior management, contribute to annual reviews, and help prepare reports for oversight committees. A strong background in finance and risk is essential.

Qualifications

• Bachelor's or master's degree in finance, economics, risk management, or related field.
• Certifications such as FRM or CFA are a plus.
• 7–10 years of experience in risk management, regulatory compliance, or related field focusing on model risk governance.
• 0–5 years of management experience may be required.
• Strong knowledge of regulatory guidelines and model governance.
• Experience with model validation, controls, and governance processes.

Responsibilities

• Implement and oversee a comprehensive model risk governance framework.
• Maintain model inventory, validation procedures, and reporting templates.
• Collaborate with validation teams to ensure governance standards.
• Coordinate with internal audit and compliance for audits and examinations.
• Develop training on model risk governance for stakeholders.

Skills

Model risk governance

Regulatory compliance

Risk management

Analytical skills

Communication skills

Education

Bachelor's or master's in finance

FRM or CFA (plus)

Job description

FHLBank Chicago seeks an experienced Model Risk Analyst to strengthen governance of models, AI/EUC tools, and risk controls. You will collaborate with the MRV team to ensure compliance with regulatory requirements and internal standards while supporting governance across the model lifecycle.

You will engage with risk managers and senior management, contribute to annual reviews, and help prepare reports for oversight committees. A strong background in finance and risk is essential.