U.S. Bank Sr. Quantitative Model Validation Analyst – Fraud/Financial Crimes/Compliance - Remote in Frankfort, Kentucky
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.
The position is an individual contributor role residing within the Bank’s Second Line of Defense 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. Validation Analysts within MRM provide 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, 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.
The individual in this position works with Model Owners and Developers to validate models related to the Bank's Fraud Detection, Financial Crimes (Anti-Money Laundering, Economic Sanctions/OFAC) and Compliance programs (Fair Lending), adhering to OCC 2011-12 Regulatory Guidance and USB's Model Risk Management Policy and Standards. He/she will document and present the model validation findings to model owners, developers as well as interface with key stakeholders, regulators (OCC/FRB), and internal auditors to discuss the justification and reasoning behind various validation and review findings.
Performs complex mathematical analysis utilizing various statistical methods or techniques including machine learning, logistic regression and various other ensemble techniques.
Validates both custom built models and third-party proprietary models.
Independently validates, tests, documents, and/or oversees usage of advanced quantitative models. Deliverables include the creation of validation documentation such as: presentations, written reports, validation benchmark models and support for identified concerns and proposed enhancements.
Retrieves, analyzes and interprets data from various sources (internal and external). Aggregates and creates data from different databases to facilitate statistical analysis for development or validation. Performs ad hoc analysis used for statistical/econometric analysis as required.
Interprets findings from statistical analyses performed for communication to senior and executive level management in written and verbal form.
Prepares and communicates statistical analysis and findings to audit and regulatory examiners.
Reads, understands, and interprets regulatory rules and guidance related to the models under development and/or being reviewed/validated. In addition, quantitative resource should have an understanding of the business product or structure to ensure models capture key business elements and risks.
Ability to understand and use various programming languages to identify, investigate and resolve data and programming issues.
-Bachelor’s degree in a quantitative field required with at least 8 years of relevant experience
-MA/MS with at least 5 years of related experience
-PhD with at least 4 years of related experience
Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance
Excellent verbal and written communication skills are necessary (ability to explain complex ideas in simple, non-technical language)
Strong statistical modeling experience in Fraud, Financial Crime Models (AML, Economics Sanctions and Customer Risk Rating) or Compliance Models (Fair Lending)
Advanced understanding of applicable compliance laws, regulations, financial services, and regulatory trends that affect assigned line of business
Prior exposure to validation or development of Fraud models, BSA/AML models, Fair Lending models or Artificial Intelligence and Machine Learning Models
Ability to build strong relations with stakeholders, business line partners, and colleagues across the bank
Deep understanding of Machine Learning and NLP is a plus
Experience using Python is highly recommended, but experience using SAS, STATA, R, EVIEWS or comparable statistical software will also be considered.
Demonstrated independence, teamwork and leadership skills
Strong project management skills
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: $112,880.00 - $132,800.00 - $146,080.00
U.S. Bank will consider qualified applicants with criminal histories in a manner consistent with the San Francisco Fair Chance Ordinance.
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.