U.S. Bank CCAR/CECL Senior Quantitative Analyst - Minneapolis, MN or Telecommute in Charlotte, North Carolina
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Job DescriptionThe Senior Quantitative Analyst will be part of 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.
The Senior Quantitative Analyst within MRM provides 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.
Specifically, the incumbent is expected to have expertise with hands-on experience in either model development or validation of credit risk models. The incumbent will work as an individual contributor or lead a team with junior analysts to provide independent validation and effective challenge of the credit risk models used in the bank’s CCAR stress testing and CECL process. Responsibilities include training assigned staff, leading all phases of model validation in compliance with OCC 2011-12 and U.S. Bank's Model Risk Management Policy and Guidelines, assessing model risks and limitations, completing validation reports, and providing recommendations and conclusions to model owners and developers.
The position interacts directly with senior management and regulatory agencies (OCC and FRB), requiring expert level of presentation, relationship building, and communication skills. Incumbent is respected across the organization for expertise and is a subject matter expert in CCAR/CECL areas. The incumbent will have a strong statistical modeling background based on technical training or advanced education in a quantitative field.
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 eight or more years of experience in statistical modeling
Preferred Skills/Experience - Extensive understanding of applicable laws, regulations, financial services, and regulatory trends that affect assigned line of business - Strong statistical modeling background based on technical training or advanced education in a quantitative field - Considerable knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS, Python or similar statistical package - Strong data compilation, programming skills and qualitative analysis skills - Considerable knowledgeable of quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches - Demonstrated independence, team work and leadership skills - Strong project management skills - Excellent written and verbal communication skills
Benefits: 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.
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Salary range reflected is an estimate of base pay and is for the primary location. Base pay range may vary if an offer is made for work in a different location. Pay Range: $117,385.00 - $138,100.00 - $151,910.00
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.