U.S. Bank Senior Model Developer in Minneapolis, Minnesota
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 are passionate about helping customers and the communities where we live and work. As one of the largest banks in the United States, we are 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). This information provides the framework for the company to position its balance sheet consistent with its risk appetite and expectations for changes in interest rates. Corporate Treasury’s Asset & Liability Management Quantitative Finance group supports these efforts by developing quantitative models and methods that link the Bank’s balance sheet to the broader macroeconomic environment.
Our team is seeking a strong, results-oriented quantitative analyst who will be responsible for contributing to our model development, monitoring, and implementation efforts for mortgage rate and mortgage prepayment forecasting. The model development process is holistic, and will include estimating, testing, implementing, and maintaining models used in mortgage valuation for NII and IRR.
We are seeking a candidate with strong technical skills, industry knowledge, and a track record of collaborating and being a part of a team.
- 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
Preferred Technical Skills
Experience analyzing loan level mortgage data for model development or creating reports of empirical borrower behavior such as prepayment s-curves, delinquency roll rates, and default.
Knowledge of model calibration and tuning practices and assessing model performance.
Preferred Industry Knowledge
Competency in interpreting and applying fixed income concepts such as duration, convexity, and option-adjusted spread for reporting or risk management.
Clear understanding of Monte Carlo valuation framework for valuation and market risk sensitivity.
Preferred Project Experience
Experience of setting and delivering on tasks and objectives involving quantitative projects.
Capability to work with associates on other projects and convey subject matter knowledge to junior team members.
Strong ability to communicate and distill complex topics and objectives to team leaders and project stakeholders.
NOTE: This role is hybrid. Team members who are in a hybrid role typically spend three days a week at the listed U.S. Bank location(s), while having flexibility on their work location for the other working days.
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/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.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: $139,995.00 - $164,700.00 - $181,170.00