U.S. Bank Senior Quantitative Model Developer - Treasury - Multiple Locations Considered in Charlotte, North Carolina
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.
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.
Corporate Treasury is a division within the CFO group where part of their responsibility is to provide executive management with accurate, timely, and comprehensive forecasts of the balance sheet and net interest income (NII). Another critical Treasury function is the measurement and analysis of Interest Rate Risk (IRR) using various methods. This information provides the framework that allows the company to position its balance sheet consistent with its risk appetite and expectations for changes in interest rates. Corporate Treasury’s Quantitative Finance (QF) supports these efforts by developing quantitative methodologies and models used in a variety of macroeconomic forecast environments.
The QF team is seeking a strong, decisive, result-oriented contributor who will be responsible for creating, validating, testing, documenting, implementing, and/or overseeing usage of complex statistical models. The models may cover a variety of products or services, however, all models are used as part of the financial decision-making process. Specific results focus on researching, developing, and documenting the creation and/or testing of advanced statistical models. In communicating such models to stakeholders within the Bank, deliverables include the creation of model development and/or validation documentation such as: presentations, written reports, model or reporting code documentation, business requirements, monitoring reports and related code, and procedures.
Has an advanced to expert understanding of applicable laws, regulations, financial services, and regulatory trends that affect their assigned line of business. Position leads and manages all phases of large complex model development, validation, or oversight projects from beginning to end. Projects may include data aggregation, model design, model selection, testing, documentation, validation, implementation, and execution. Has a strong statistical modeling background based on technical training or advanced education in a quantitative field. Responsible for training lighter level and new staff and may manage or supervise Quantitative Model staff as assigned. Interacts directly with senior managers requiring expert level of presentation, relationship building and negotiation skills. This position will also have exposure to regulatory agencies. Incumbent is respected across the organization for expertise and is a subject matter expert in multiple areas. May supervise lighter level Quantitative Model Analysts.
Perform research, model development, and ongoing monitoring activities for models used in applications of the secondary mortgage market such as prepayment, cash flow, and income modeling
Understand and communicate downstream impacts of prepayment model upgrades with respect to portfolio metrics such as duration, convexity, and weighted average life
Assist in producing research materials related to mortgage market and/or MBS portfolio
Participate in all components of model development lifecycle
Work closely with other secondary market stakeholders within the Corporate Treasury and broader U.S. Bank organization
Perform model developer responsibilities as it relates to model governance systems
- Bachelor’s degree in a quantitative field, and eight or more years of relevant experience
- MA/MS in a quantitative field, and five or more years of related experience
- PhD in a quantitative field, and four or more years of related experience
Preferred Technical Skills/Experience
Expertise in data compilation, and use of programming to perform quantitative analysis
Exposure to large financial data sets for behavioral modeling such as deposits or mortgages
Comfortable working with multiple software platforms such as SAS, SQL, Python, and database frameworks such as Oracle, or Amazon AWS
Strong understanding of behavioral modeling techniques such as logistic regression, multinomial regression, proportional hazards
Thorough understanding of statistical and mathematical techniques used in data analysis, statistical modeling, and curve fitting
Familiarity with asset/liability analytical processes such as net interest income modeling, market value of equity and constituent components such as discounted cash flows
Through knowledge of quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches related to the secondary mortgage market
Experience with interest rate risk and comprehensive capital risk
Preferred Interpersonal Skills/Experience
Strong project management skills
Ability to explain project concepts to other analysts in collaborative setting, provide critical and constructive feedback to others’ work
Prioritizes tasks in order to drive for results at all stages of the model development lifecycle
Understands model owner, user, and other stakeholder needs and provide subject matter expertise to stakeholders as needed
Able to work with model risk stakeholders at relevant model development milestones such as conceptual design, outcomes analysis, final submission, and during validation
Contributes to inclusive work environment for fellow associates
Able to follow industry trends related to primary and secondary mortgage markets
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 (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .
Learn how the way we work at U.S. Bank (https://assets.phenompeople.com/CareerConnectResources/prod/UBNAGLOBAL/documents/Thewaywework-1666895142717.pdf) drives meaningful relationships with our customers and collaboration across the company.
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
Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
EEO is the Law
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. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS (https://eeoc.gov/sites/default/files/2022-10/EEOC_KnowYourRights_screen_reader_10_20.pdf) EEO 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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .
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, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $124,695.00 - $146,700.00 - $161,370.00
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.