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.
U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for our Balance Sheet models. This role reports to the Director of Financial Risk Model Validation within Model Risk Management, part of the Bank’s Risk Management and Compliance organization.
This highly visible leadership position operates at the intersection of interest rate risk, liquidity, capital planning, financial forecasting, and regulatory oversight, partnering closely with senior and executive stakeholders across the Bank. You will lead and develop a team responsible for validating and overseeing a large, complex inventory of models used to forecast net interest income, market value of equity, pre-provision net revenue, and other asset and liability management and financial forecasting purposes.
This position offers a unique opportunity to deliver high‑impact insights through rigorous analysis, clear documentation, and strong stakeholder engagement – including participation in senior level operating committees.
ESSENTIAL FUNCTIONS:
Leads a highly skilled analytic team to independently review and validate a wide range of models including treasury, liquidity, PPNR, interest rate risk, and general financial forecasting.
Assesses model risk through pre-implementation validations, periodic validations and monitoring activities that independently challenge conceptual design/methodology, reference data, processes, and performance.
Identifies corrective actions that promote model risk management process improvements and ensure timely remediation of the identified issues.
Leads the team in identifying and implementing a process to conduct a diverse set of sophisticated analyses of models and for effectively managing tasks/resources to shepherd each project to its completion in a timely fashion. Validation produces reports challenging model assumptions, limitations, processes, and documentation.
Develops and leads a team to establish and continuously enhance model validation processes involving execution of thorough testing and critical review of conceptual and performance aspects of the models through creation of alternative benchmark approaches, back testing, stress and sensitivity testing.
Responsible for review of independently authored reports detailing results of analyses to ensure results are presented in a manner accessible to various levels of management and quantitative backgrounds.
Interface with key stakeholders throughout validation process, including regulators and internal audit, to discuss justification and reasoning behind validation and review findings.
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.
- Strong background in at least one statistical programming language such as SAS, Python
or R. Familiarity with VBA, SQL, or Matlab is a plus.
- 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.
- Strong background and practical experience developing and/or validating models used for Asset and Liability Management, deposit balance forecasting, PPNR, liquidity risk, interest rate risk, and general financial forecasting. Experience in other related areas such as MSR valuation models, market-risk models, economic scenarios, and/or credit risk also a plus.
- 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 verbal and written communication skills are necessary (ability to explain complex ideas in simple, non-technical language).
Ability to build strong relations with peers, business line managers, and colleagues across
the bank
- Highly motivated with ability to learn and understand various business lines and their
function within the organization.
- Strong leadership and organizational skills, ability to manage multiple teams and work on
multiple assignments concurrently.
- Familiarity with vendor platforms such as: QRM, Polypaths, Yield Book, Risk Metrics, and Bloomberg.
Location Requirements
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 - $200,300.00U.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.