Build a Career You'll Love

Model Risk Manager Salary in Rochester, NY

How much does a Model Risk Manager make in Rochester, NY? The salary range for a Model Risk Manager job is from $108,246 to $135,319 per year in Rochester, NY. Click on the filter to check out Model Risk Manager job salaries by hourly, weekly, biweekly, semimonthly, monthly, and yearly.

Average base salary
updated at December 01, 2024
$121,896
Per Year
The average salary for a Model Risk Manager is $121,896
per Year in Rochester, NY.
Individually reported data submitted by users of our website

HOW SHOULD YOU USE THIS DATA?

Employees: Use this as a guide for salary expectations, but be aware that responsibilities can change across companies for the same job title, so there may be differences between this data, other free site and our subscription products bought by employers.

Employers: This data could be used as reference point in your market pricing, but not the only source, due to differences across jobs locations, and sizes of companies.Consider additional sources like our Employer reported data.

Base Salary
$108,246
$121,896
Medium
$135,319

Highest Paying Cities for Model Risk Manager near Rochester, NY

We list eight cities that pay high wages to Model Risk Manager near Rochester. The salary difference may cause by many reasons, such as the cost of living. The competition will also be fiercer where wages are high. Click the city name to learn more about the Model Risk Manager pay level in these cities.

States with Higher Salaries for Model Risk Manager

Here are the top five states that pay the highest Model Risk Manager salary in the United States. District of Columbia takes first place with the highest Model Risk Manager salary is $137,876 per Year. California and New Jersey take the second and third place with $136,637 per Year and $135,770 per Year in the list. A higher average Model Risk Manager salary indicates a higher cost of living too.

How Much Do Similar Professions Get Paid in Rochester, NY?

The following job titles have similar responsibilities as a Model Risk Manager. However, the different job titles may have different salaries. Learn each job, and finger out the most suitable position with the highest wage for you in your city.
Model Risk Analyst
Average salary
United States
$98,694
per Year
Model Risk Officer
Average salary
United States
$102,023
per Year
Model Risk Management
Average salary
United States
$123,792
per Year
Model Manager
Average salary
United States
$94,331
per Year
Model Validation Manager
Average salary
United States
$97,616
per Year
Senior Model Builder
Average salary
United States
$83,980
per Year

How Much Should You Be Earning?

Get an estimated calculation of how much you should be earning and insight into your career options.

What Does a Model Risk Manager Do?

The emphasis shifts from a technical model review to a risk manager’s view that assesses the risks beyond model methodology.

December 20, 2021

Alongside the reduction of model risk and management of its impact, MRM is also capable of reducing some P&L unpredictability.

December 16, 2021

In accordance with best practices, approximately half the surveyed banks have integrated model risk within their risk-appetite statement, either as a separate element or within nonfinancial risks.

December 13, 2021

Canada is expected to introduce MRM guidelines soon, so Canadian institutions need to start strengthening their model risk management practices or be prepared to face regulatory issues down the road.

December 12, 2021

Banks were losing a lot of money because of their use of wildly simple copula models in estimating the risk on mortgage portfolios.

December 11, 2021

Most Common Benefits for Model Risk Manager

Social Security
Healthcare
401(k)
Pension
Disability
Time Off (days)

Frequently Asked Questions

Common questions about salaries for a Model Risk Manager
Get a personal salary report to know your salary based on location, education, experience, and other influence factors.
Is this information useful?
Thank you!
The emphasis shifts from a technical model review to a risk manager’s view that assesses the risks beyond model methodology.
Is this information useful?
Thank you!
Check the below career pages for detailed pay ranges for similar professions to Model Risk Manager:
Is this information useful?
Thank you!
Explore our personal salary report to know the Model Risk Manager market value in Rochester, NY. And find out if any places are having a higher Model Risk Manager salary.
Is this information useful?
Thank you!
The average salary of a Model Risk Manager is $121,896 in Rochester, NY.
Is this information useful?
Thank you!

Career Insights

What is Pay-for-Performance Compensation?
pay and salary
What is Pay-for-Performance Compensation?
What Is a Salary Grading Scale?
pay and salary
What Is a Salary Grading Scale?
The Gender Pay Gap in America in 2022
pay and salary
Understanding the Gender Pay Gap in America