Remote opportunity at
MercuryModel Risk Manager
Mercury operates as a financial technology company rather than a bank, with banking services provided through designated FDIC-member institutions. The organization seeks a Model Risk Manager…
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About This Role
Mercury operates as a financial technology company rather than a bank, with banking services provided through designated FDIC-member institutions. The organization seeks a Model Risk Manager to develop and manage a risk-based Model Risk Management framework as the company grows toward bank regulation. Models influence multiple areas across the business, including credit underwriting, anti-money laundering, fraud prevention, pricing, finance, liquidity, and operational workflows. This position involves delivering independent model reviews,…
Job Description
Mercury operates as a financial technology company rather than a bank, with banking services provided through designated FDIC-member institutions. The organization seeks a Model Risk Manager to develop and manage a risk-based Model Risk Management framework as the company grows toward bank regulation. Models influence multiple areas across the business, including credit underwriting, anti-money laundering, fraud prevention, pricing, finance, liquidity, and operational workflows.
This position involves delivering independent model reviews, challenging underlying assumptions, and establishing governance aligned with actual risk levels. The ideal candidate will navigate technical evaluations, regulatory frameworks, and business needs. Responsibilities include executing model validations, refining model inventories, reviewing ongoing monitoring reports, and collaborating with cross-functional teams spanning data, engineering, product, finance, and internal audit. The role suits a detail-oriented professional who can operate in a fast-paced setting, provide constructive challenges to stakeholders, and support safe analytical practices without introducing unnecessary friction.
Responsibilities
- Conduct independent reviews and validations for internal and third-party models spanning credit, fraud, BSA/AML, CECL, finance, liquidity, pricing, and operational risk
- Evaluate methodology, data lineage, implementation quality, assumptions, and performance metrics through testing methods like back-testing and sensitivity analysis
- Provide constructive challenge to model owners and developers while maintaining collaborative relationships with first-line business units
- Maintain a precise model inventory tracking risk ratings, dependencies, limitations, and validation statuses
- Examine ongoing performance monitoring plans, thresholds, overrides, and data drift indicators
- Assess third-party analytical products and vendor models regarding documentation transparency and performance limitations
- Document validation results, recommend proportionate remediation, and monitor findings through resolution
- Establish management reporting covering model risk, concentrations, validation coverage, and overdue corrective actions
- Contribute to updating internal policies, procedures, standards, and templates for model risk management
- Leverage automation and data tools to enhance efficiency in inventory management, monitoring, and testing
- Partner with data and AI governance teams to define boundaries for generative AI and other analytical systems
- Participate in regulatory examinations and internal audit reviews associated with model risk
Requirements
- Minimum of five years of professional experience in model validation, quantitative risk analytics, or model development within financial services, fintech, banking, or consulting
- Deep understanding of model risk management concepts and current regulatory expectations including SR 26-2
- Extensive background in developing or validating models for credit underwriting, CECL, fraud, BSA/AML, capital, liquidity, or financial forecasting using machine learning, scorecards, or complex vendor and spreadsheet models
- Demonstrated proficiency in Python and SQL utilized from a data analytics perspective
- Strong verbal and written communication skills suitable for explaining technical risk concepts to data scientists, business teams, and regulators
- High attention to detail across quantitative analyses, documentation, code bases, and testing artifacts
Qualifications
- Bachelor’s degree in mathematics, statistics, computer science, physics, engineering, financial engineering, or a related discipline
- Master’s degree or PhD in a quantitative field
- Experience building or significantly enhancing a model risk management framework
- Familiarity with bank regulatory exams, charter readiness, or risk program implementation in a growing financial institution
- Knowledge of Haskell
Core Skills
Benefits
- Competitive base salary ranging from USD 149,900 to 208,300 per year depending on geographic location and experience
- Equity compensation including stock options and RSUs
- Comprehensive total rewards package aligned with SaaS and fintech industry standards
Frequently Asked Questions
Answers are based only on the employer’s listing; where it doesn’t say, neither do we.
Is this position remote?
Yes, the source posting indicates that the role is remote.
What is the salary range for this role?
The annual base salary ranges from USD 149,900 to 208,300, depending on geographic location and candidate experience. Additional compensation includes equity through stock options or RSUs.
What level of experience is required?
Candidates must have at least five years of relevant experience in model development, model validation, quantitative risk analytics, or a related discipline within banking, fintech, financial services, or consulting.
What educational background is expected?
A bachelor's degree in statistics, mathematics, physics, computer science, engineering, financial engineering, or a related field is required, with a master's degree or PhD preferred.
Sample Interview Questions
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