Senior Model Risk Manager, Mercury
$180.6-250.9k
+ Equity. Salary given is for US based candidates, and may vary by US location. Base salary for Canadian employees is CAD $189,700 - $237,100
Banking services for startups
Be an early applicant
Banking services for startups
501-1000 employees
Be an early applicant
$180.6-250.9k
+ Equity. Salary given is for US based candidates, and may vary by US location. Base salary for Canadian employees is CAD $189,700 - $237,100
501-1000 employees
Company mission
To make scaling tech companies simpler with a personalized banking stack for startups, and power the next generation of companies that will shape the American industry.
Role
Who you are
- This is a hands-on technical leadership role for someone who understands the nuances of financial crime typologies, risk analytics, and model lifecycle governance
- Bachelor’s degree in Statistics, Mathematics, Computer Science, Engineering, Finance, or a related field. Master’s degree or PhD is preferred
- 6–8 years of experience in model risk management, model development, quantitative analytics or data science
- 2-4 years of experience in financial crimes related modeling and tuning techniques
- Strong command of statistical analysis and data validation methods; proficiency in SQL and Python. Knowledge of Haskell is a plus but not required
- Solid understanding of regulatory frameworks (e.g., SR 11-7, OCC 2011-12, FinCEN advisories)
- Experience drafting validation reports, audit response materials, and stakeholder briefings
- Familiarity with Sanctions screening vendor tools (e.g., Bridger, Fircosoft, etc) is a plus
- Experience with Machine Learning and /or AI models is a plus
- CAMS, CRCM, or equivalent certification is a plus
- Critical thinking skills and investigative rigor when reviewing data, assumptions, and outputs
- A healthy dose of skepticism combined with a constructive, solution-oriented mindset
- Exceptional attention to detail across documentation, validation artifacts, and analysis
- Strong communication skills, including the ability to write clear, structured, and technically sound documentation
- Comfort in an ambiguous, fast-paced, and rapidly changing business and regulatory environment
- Ambitious sense of curiosity and willingness to explore how compliance and risk management impacts Mercury’s products and our customers outside of one’s comfort zone, such as new markets or financial products
- Respect for and interest in financial rules and regulations, as well as an eagerness to innovate and drive the industry forward
What the job involves
- As a Senior Model Risk Manager, you will lead the validation, monitoring, and governance of rule-based detection models, data pipelines, vendor models and ML/AI models and tools
- You’ll play a pivotal role in ensuring Mercury’s models are accurate, compliant, and robust, and support the continuous development of our model risk framework in alignment with regulatory expectations
- You’ll collaborate closely with model developers, compliance leads, and engineering partners while reporting into the Head of Model Risk Management
- Perform independent model validation with a focus of AML and sanctions models, including transaction monitoring, customer risk scoring, sanctions screening, related AI tools, etc
- Assess model methodologies, data integrity, assumptions, implementation, and output reasonableness
- Evaluate emerging modeling techniques, such as behavioral analytics and machine learning, for suitability in financial crime detection
- Support the establishment and maintenance of monitoring plans for model performance, stability, and concept drift
- Lead periodic model reviews, recalibrations, and performance assessments in coordination with model owners
- Track model inventory, issue remediation, and documentation standards under SR 11-7 and internal governance requirements
- Recommend risk mitigation strategies for model limitations, including compensating controls, overrides, and thresholds
- Participate in issue tracking, documentation, and validation of remediation evidence for model validation findings
- Prepare model validation reports and technical summaries in response to requests from internal audit, executives, bank partners and regulators.
- Partner with compliance and legal teams to ensure model alignment with regulatory standards (e.g., BSA/AML, OFAC, FATF, FinCEN)
- Champion the development of model risk management as a core function within a fast-paced fintech environment
- Cultivate model risk principles, regulatory expectations, and the value of strong model governance among cross-functional teams including engineering, product, risk, and compliance
- Assist with one-off data validation tasks to support timely and accurate compliance reporting to regulators and bank partners
- Engage in early risk identification efforts and provide MRM advice on the design and governance of new machine learning and AI models under development
- Flex into broader analytical or compliance-related requests as needed, supporting the evolving needs of a growing MRM function
Our take
Frustrated by the archaic, fee-laden banking services offered to entrepreneurs, the founders of Mercury set out to create a better solution. They envisioned a platform that was dynamic, tech-driven, and free from unnecessary fees.
Mercury delivers on this vision by automating business payment processes, offering FDIC-insured accounts, and providing full API access, empowering entrepreneurs with greater control and efficiency. This approach stands in stark contrast to traditional startup banking, which often burdens young businesses with high fees and limited functionality.
By prioritizing user experience and offering a free service tier, Mercury has attracted over 100,000 businesses and achieved a $1B valuation in 2021. As a rising unicorn in the stagnant world of startup banking, mercury is poised for continued growth, constantly adding new features and expanding its team to further disrupt the industry.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
50% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Mar 2025
$300m
SERIES C
Jul 2021
$120m
SERIES B
Total funding: $450.9m
Company benefits
- Health, dental, & vision
- 12+ weeks of paid parental leave
- $600 USD custom WFH equipment setup
- Unlimited vacation policy (with a mandatory minimum)
- Retirement matching up to 4% of base salary (401k/RRSP)
- Paid 6-week sabbatical after the 5-year mark
- Annual $1K USD learning & development budget
- Unlimited book budget
- Weekly $100 USD food budget
- Monthly $100 USD wellness budget
- Monthly $50 USD cellphone reimbursement
- Pet-friendly offices with free tea & lunch
Company HQ
SoMa, San Francisco, CA
Leadership
Jason Zhang
(COO)Studied Biology at Stanford before spending over 4 years at Heyzap in Business Development.
Immad Akhund
(CEO)Graduated from the University of Cambridge, then worked as a Software Developer at Aquila and Bloomberg. Also founded Clickpass and Heyzap, and was a Part-time Partner at Y Combinator.
Salary benchmarks
We don't have enough data yet to provide salary benchmarks for this role.
Submit your salary to help other candidates with crowdsourced salary estimates.
Share this job
View 31 more jobs at Mercury