U.S. Bank Quantitative Audit Project Manager in Chicago, Illinois
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 Corporate Audit Services Quantitative Audit Project Manager (QAPM) is primarily responsible for model risk related audit engagements and should be able to work independently with minimal supervision from managers. The QAPM is expected to monitor progress of audit engagements against plan, assess work performed by the audit engagement team, model development team and model validation team; and provide coaching and on-the-job training for team members to ensure engagements are completed in conformance with internal audit policies and procedures.
Reviews and analyzes the development, implementation, use, monitoring, and validation of complex statistical models and tools covering balance sheets, treasury, interest rates, pricing/valuation, derivatives, PPNR, and other areas, and making appropriate conclusions, and recommending necessary action plan where needed.
Specific focus on documenting the testing of advanced statistical models and communicating the results of such testing to stakeholders within the Bank.
Provides quantitative expertise to assist in completion of the audit plan, including collaborating with other audit teams regarding quantitative models and tools.
Interacts regularly with business line and risk management leaders, and internal and external subject matter experts.
Assists in adjusting the audit plan where appropriate based on those interactions.
- 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
Ability to effective challenge model development/validation of various statistical models covering balance sheets, treasury, interest rates, pricing/valuation, derivatives, PPNR and other areas,
Knowledge of machine learning, marketing, AML, sanction screening, fraud, credit losses, economic capital, regulatory capital, acquisition, account management, collection models will be a plus.
Advanced knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS, R, Python or similar statistical package
Knowledge of quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches
Advanced understanding of model risk management concepts, as described in OCC Bulletin 2011-12/ FRB SR 11-7, such as model development, implementation, use, validation, governance, policies, inventories and controls
Ability to manage multiple tasks across various timelines
Strong analytical, organizational, problem-solving, negotiation, and project management skills
Effective interpersonal, verbal and written communication skills
Ability to build and continuously improve working relationships with internal audit peers, business line leaders, and partners (risk and compliance)
Knowledge of Commercial Banking
Covid-19 Vaccine Mandate Requirement: U.S. Bank requires that the successful candidate hired for this position be fully-vaccinated for COVID-19, absent being granted an accommodation due to a medical condition, pregnancy, or sincerely held religious belief or other legally required exemption.
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) .
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 careers.usbank.com .
EEO is the Law
Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) 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) .
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: $108,545.00 - $127,700.00 - $140,470.00
Due to legal requirements, U.S. Bank requires that the successful candidate hired for some positions be fully-vaccinated for COVID-19, absent being granted an accommodation due to a medical condition, pregnancy, or sincerely held religious belief or other legally required exemption. For these positions, as part of the conditional offer of employment, the successful candidate will be asked to provide proof of vaccination or approval for an accommodation or exemption upon hire.
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.