U.S. Bank Senior Quantitative Model Validation Analyst in Fargo, North Dakota

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.

The Quantitative Model Risk role resides within the Bank’s Risk Management and Compliance organization. Specifically, this position supports the Model Risk Management 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.

Quantitative Model Risk 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 work with Model Owners and Developers and independently validate models related to bank’s CCAR stress testing and capital planning. 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.

Qualifications:

Basic Qualifications

  • Bachelor's degree in a quantitative field, and five to eight years of experience in statistical modeling OR

  • Master's or PhD degree in a quantitative field, and less than five years of experience in statistical modeling

Preferred Skills/Experience

-Excellent knowledge in statistics, mathematics, and financial modeling.

-Experience in CCAR stress testing model development or validation.

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.

Job: Accounting / Finance

Primary Location: United States

Shift: 1st - Daytime

Average Hours Per Week: 40

Requisition ID: 170014229