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Quantitative Model Analyst 4

Company: US Bank
Location: Minneapolis
Posted on: June 13, 2021

Job Description:

At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Job Description

The Quantitative Model Analyst 4 is a Senior Individual contributor role residing within the Bank's Risk Management and Compliance organization. Specifically, this position supports the Model Risk Management ("MRM") program at the Bank. The overall MRM program is designed to provide governance and control to manage financial models and associated risks that may impact the company, including financial, liquidity, market, operational, reputational, strategic, and other risks as appropriate.

Senior Validation Analysts within MRM provide independent validation of models that the Bank relies on for making financial decisions. A robust and comprehensive model validation comprises steps that independently challenge a model's conceptual framework and methodology, reference data used in the model, implementation process, as well as model usage and performance. The validation process also identifies corrective actions to ensure timely remediation of model risk.

More specifically, the incumbent is expected to have advanced to expert understanding of applicable laws, regulations, and regulatory trends in CCAR and CECL credit risk modeling. The incumbent is expected to work with Model Owners and Developers and independently validate models related to Bank's CCAR and CECL loss forecast. The validation should be in compliance with both OCC 2011-12 and USB's Model Risk Management Policy and Guidelines. The incumbent is also responsible for assessing model risks and limitations and provide recommendations and conclusions with respect to model validation.

The incumbent is expected to document and present the model validation findings to model owners, developers. He/she will interface with key stakeholders, regulators (OCC/FED), and internal auditors to discuss the justification and reasoning behind various validation and review findings.

Basic Qualifications

  • Bachelor's degree in a quantitative field, and 10 or more years of experience in statistical modeling OR
  • Master's or PhD degree in a quantitative field, and six or more years of experience in statistical modeling

Preferred Skills/Experience

  • Excellent knowledge in statistics, mathematics, and financial modeling.
  • Experience in CCAR/CECL model development or validation experience for Credit Risk and/or PPNR.
  • Critical thinking, problem solving, and creativity.
  • Strong written and verbal communication skills (ability to explain complex ideas in simple, non-technical language).
  • Ability to establish and maintain effective working relationships with peers, business line managers, and colleagues across the bank.
  • Highly motivated with the ability to learn and to understand various business lines and their functions within the organization.
  • Ability to work independently as well as collaboratively within a team environment.
  • Strong organizational skills and the ability to work on multiple tasks effectively.
  • Knowledge of regulatory guidance (SR11-7, Basel, ICAAP, CECL, AMA and Market Risk Rule).
  • Proficient in the SAS and/or R programming languages.
  • Advanced degree in a quantitative discipline such as: Mathematics, Statistics, Finance, Economics, Physics, or a related field.
  • Six plus years of model development or validation experience.


Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.

Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting usbank.com/careers.

EEO is the Law

Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.


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.

Keywords: US Bank, Minneapolis , Quantitative Model Analyst 4, Other , Minneapolis, Minnesota

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