U.S. Bank Counterparty Risk Manager in Minneapolis, Minnesota
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.
U.S. Bank is seeking a counterparty credit risk manager to implement analytical projects related to firmwide counterparty strategic initiatives & commodities derivative implementation. The focus will be on commodities derivatives. The counterparty credit risk management function is responsible for the management and control of counterparty risk at US Bank. The group provides independent review of counterparty risk across the business, producing detailed analysis of the derivative portfolio for internal and external constituents and manage the control framework under which counterparty risk is governed.
Responsibilities include but not limited to implementation of PFE modeling of commodities and other derivative products, developing stress testing models and conduct periodic analysis. Working with treasury and other key stakeholders, develop and maintain counterparty risk capital metrics and corresponding returns; ad-hoc analysis on wide varieties of risk analytic projects; On-going counterparty surveillance and monitoring; and working closely with front office on exposures, trading activities and limit breaches.
The person will also model various products in vendor model. Develop and maintain wide varieties of stress testing scenarios (in addition to firm wide stress tests) across various probability spectrum covering historical, hypothetical and forward-looking approaches. Assist broader group in sizing stress test limits and establishing governance around it.
- Bachelor’s degree in a quantitative field, and 10 or more years of relevant experience
- MA/MS in a quantitative field, and six or more years of related experience
- PhD in a quantitative field, and five or more years of related experience
Master's degree or higher in a quantitative field such as finance, mathematics, engineering, physics, computer science, or statistics
Strong knowledge and understanding of financial markets/products and derivatives valuation
Working experience with counterparty risk modeling and systems OR market risk OR front office modeling
Working experience of managing large scale projects impacting the entire organization.
Experience with working with internal developers, Data Sourcing team and external vendors to build infrastructure necessary to implement the pricing methodologies
Drive improvements in stress testing, and various limit frameworks around concentration and liquidity.
Investigate a portfolio or a strategy to understand the drivers of performance and develop a report that summarizes the risk profile, facilitates efficient risk management, and improves understanding of portfolio construction and investment behavior
Strong technical skills required Excel/VBA at a minimum and Python or SQL advantageous.
Skilled at independently researching topics using all means available to discover relevant information
Strong communication and interpersonal skills. Will be collaborating with different quant teams, technology and data management partners, and various business stakeholders
Self-starter with the ability to maintain momentum and multi-task is paramount, seeking guidance where necessary
Ability to work in a team environment
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 .
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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.
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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.