Model Validation Manager – Mortgage & Retail Credit Loss

U.S. Bank • Minneapolis, MN

2d • Hybrid

About The Position

U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for our Residential Mortgage and Retail Credit Loss Forecasting models. This role reports to the Director of Credit, Compliance, and Financial Crimes Model Validation within Model Risk Management, part of the Bank’s Risk Management and Compliance organization. This highly visible leadership position operates at the intersection of credit risk, capital planning, and regulatory oversight, partnering closely with senior and executive stakeholders across the Bank. You will lead and develop a team responsible for validating and overseeing a large, complex inventory of CCAR and CECL credit loss forecasting models across consumer portfolios. These models are foundational to enterprise credit risk assessment, loss forecasting, reserving, and capital planning—offering a unique opportunity to deliver high‑impact insights through rigorous analysis, clear documentation, and strong stakeholder engagement.

Requirements

• Bachelor’s degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience
• Five or more years of experience leading a quantitative modeling team

Nice To Haves

• Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package
• Advanced data compilation, programming skills and qualitative analysis skills
• Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches
• Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
• In depth knowledge of Bank products and services
• Demonstrated independence, teamwork and leadership skills
• Strong analytical, organizational, problem-solving, negotiation, and project management skills
• Excellent interpersonal, verbal and written communication skills

Responsibilities

• Lead and develop a high‑performing analytics team responsible for independent validation of the Bank’s residential mortgage and retail portfolio credit loss forecasting models supporting CCAR stress testing and CECL requirements.
• Oversee end‑to‑end model validation activities, including pre‑implementation validations, periodic reviews, and ongoing monitoring, providing effective challenge to model design, methodology, data, processes, and performance.
• Ensure rigorous execution of validation analyses and drive continuous enhancement of validation standards and processes.
• Review and approve validation deliverables to ensure conclusions are well‑supported, clearly documented, and communicated effectively to stakeholders with varying levels of technical expertise.
• Identify model risks and findings, drive corrective actions, and ensure timely remediation in alignment with Model Risk Management program requirements.
• Manage validation execution against plan, including resource allocation, coaching, prioritization, and quality control across the validation portfolio.
• Engage and partner with business stakeholders throughout validation and remediation efforts, fostering strong relationships while maintaining independent and credible challenge.
• Manage internal audits and regulatory examinations, serving as a key point of contact for regulators, auditors, and senior stakeholders to clearly articulate validation analyses, findings, and conclusions, and effectively address supervisory feedback.

Benefits

• 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
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 5,001-10,000 employees