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 Director for our Credit, Allowance & Compliance areas and will reside within the Bank’s Risk Management and Compliance organization. The Executive Leader in this role will support the Model Risk Management program at the bank. The overall structure is designed to promote effective governance and risk management with the goal of assessing and managing risks that may impact the company, including credit, financial, liquidity, market, operational, reputational, strategic, and other risks as appropriate.
ESSENTIAL FUNCTIONS:
Leads a highly skilled analytic team to independently review and validate a wide range of models including CCAR, allowance, compliance, and cyber security models
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.
Interfaces with key stakeholders throughout validation process, regulators and internal audit to discuss justification and reasoning behind validation and review findings
PREFERRED SKILLS/QUALIFICATIONS:
Master or Doctoral degree and 10+ years of relevant experience
6+ years of experience leading a quantitative modeling team
Advanced degree in quantitative discipline such as: Mathematics, Statistics, Finance, Economics or related field
Strong background in at least one statistical programming language such as SAS, Python or R. Familiarity with VBA, SQL, or Matlab is a plus
Strong critical thinking skills and a detail-oriented nature to challenge models developed internally and by vendors
Strong background and practical experience working with econometric concepts such as time-series models and generalized linear regression approaches
Demonstrated ability to draw insights from large complex datasets
Strong background and practical experience developing and/or validating credit loss forecasting and compliance models
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
Experience with regulatory guidance (OCC 2011-12, Basel, CCAR, CECL, AML/BSA)
Familiarity with vendor platforms such as: QRM, Polypaths, Yield Book, Risk Metrics, and Bloomberg
Experience working on teams that participate in bank stress testing exercises
In-depth knowledge of and experience with credit loss forecasting models (retail and wholesale portfolios), AML models, fair lending models, and cyber security models
Strong understanding of various statistical, economic, and financial theories; such as econometric methods, statistical approaches, data sampling, numerical analysis, and options pricing techniques
Strong understanding of regulatory rules and risk management procedures with the ability to effectively convey complex concepts (written and verbal) to a broad audience is critical
Demonstrated experience leading advanced quantitative teams with multiple layers and managing talent
Strong project management skills
Experience presenting analytic concepts and results to senior management is highly desired
LEADERSHIP CAPABILITIES:
Builds Teams and Talent: Embraces developing talent; builds and develops teams; strengthens organizational capabilities via talent
Drives for Results: Drives execution, continuously improves the core, and reallocates resources at pace
Disrupts & Challenges: Creates possibilities from new and innovative thinking; generates disruptive change; leads change
Leads Innovation: Encourages innovative thought; challenges the status quo; scales and invests in new ideas
Drives Vision and Purpose: Paints a compelling picture of the vision and strategy that motivates others to action
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 (some may vary based on role, location or hours):
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
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: $214,795.00 - $252,700.00U.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.