Model Risk Governance Framework and Reporting Manager

Company: U.S. Bank
Location: Minneapolis
Posted on: April 4, 2026

Job Description:

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description The Model Risk Governance (MRG) group is responsible for designing, implementing, maintaining and enforcing the Model Risk Management (MRM) program within the Bank. This includes design and execution of policies, standards, and internal procedures for all phases of model life cycle from identification and inventorying to implementation, maintenance, and retirement. MRG provides oversight of model development and validation and is responsible for reporting on the Bank’s overall model risk. The Model Risk Governance Framework and Reporting Manager role reports to the Director of Model Risk Governance within Model Risk Management. The role is responsible for ownership of the model risk management framework and reporting on model governance, development, validation, and monitoring for the organization. The Model Risk Governance Framework and Reporting Manager will be responsible for: Enhancing, implementing, and maintaining the model risk management program within the Bank. This includes design, update and execution of policies, ownership and validation standards, development and validation templates, and internal procedures for all phases of model life cycle from identification and inventorying to implementation, maintenance, and retirement. Ensuring overall compliance of the MRM program with regulatory guidance on model risk management, staying current with changes in regulatory expectations and leading industry practices. Providing training and communication of the expectations of the MRM program to stakeholders across the organization. This is inclusive of coordinating with Model Risk Governance leads to ensure consistency of communication of program requirements and reporting on model risk throughout the team and to all stakeholders. Maintain and report on the MRM control inventory, execution, and evidence. Oversee reporting related to model risk and the MRM program for presentation to senior management and during risk management committees. Oversee the creation of accurate and professional reports, presentations and dashboards distributed to MRM senior leadership, managing committee and Board. Oversee the design and execution of process improvements that focus on report automation Oversee program administration tasks such as ownership of the Model Risk Management SharePoint and ensuring compliance with risk category owner requirements. As this role will involve interaction with regulatory agencies, auditors, and all levels of management within the organization, the candidate must have: Strong leadership qualities, In-depth knowledge of and experience with model development and validation practices; Strong understanding of the regulatory guidance on model risk management and risk management procedures; Hands-on experience in model building and/or validation; Experience managing quantitative teams; Ability to influence outside of the formal chain of command; and Strong written and verbal communication skills. Basic Qualifications - Bachelor’s degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience - Five or more years of experience leading a quantitative modeling team Preferred Skills/Experience - Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package - Advanced data compilation, programming skills and qualitative analysis skills - Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches - Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters - In depth knowledge of Bank products and services - Demonstrated independence, teamwork and leadership skills - Strong analytical, organizational, problem-solving, negotiation, and project management skills - Excellent interpersonal, verbal and written communication skills This role requires working from a U.S. Bank location three (3) or more days per week. If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants . Benefits: Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following: Healthcare (medical, dental, vision) Basic term and optional term life insurance Short-term and long-term disability Pregnancy disability and parental leave 401(k) and employer-funded retirement plan Paid vacation (from two to five weeks depending on salary grade and tenure) Up to 11 paid holiday opportunities Adoption assistance Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law Review our full benefits available by employment status here . U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law. E-Verify U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program . The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $170,255.00 - $200,300.00 U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures. Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies. Posting may be closed earlier due to high volume of applicants.

Keywords: U.S. Bank, Minneapolis , Model Risk Governance Framework and Reporting Manager, Accounting, Auditing , Minneapolis, Minnesota