Quantitative Model Validation Analyst

U.S. Bank•Cincinnati, OH

16h•Hybrid

About The Position

The Quantitative Model Validation Analyst works within U.S. Bank’s Risk Management and Compliance organization, supporting the enterprise Model Risk Management program. The role independently validates macroeconomic forecasting models used in regulatory and business planning, including CCAR, CECL, capital planning, and other business-as-usual activities. The analyst works with model owners and developers to conduct risk-focused reviews and independently challenge model assumptions, theoretical foundations, estimation techniques, variable selection, forecasting performance, scenario design, sensitivity analyses, and outcome reasonableness. Validation work must comply with regulatory guidance and the Bank’s Model Risk Management Policy and Standards. The analyst assesses model risks, limitations, uncertainties, and potential sources of forecast error, and reaches independent conclusions about model appropriateness and fitness for use. The work includes testing, benchmarking, back-testing, sensitivity analysis, and other validation procedures to assess conceptual soundness, ongoing performance, and regulatory compliance. The analyst documents procedures, findings, and conclusions in validation reports and presents results to model owners, developers, governance committees, and executive management. The role regularly engages stakeholders across Risk Management, Finance, Treasury, and Business Lines, and interfaces with regulators, including the OCC and Federal Reserve, and Internal Audit. Clear communication of complex quantitative concepts to technical and non-technical audiences is essential. The position requires working from a U.S. Bank location three or more days per week.

Requirements

Bachelor’s degree in a quantitative field and five or more years of relevant experience, or a master’s degree in a quantitative field and three or more years of related experience, or a PhD in a quantitative field and less than two years of related experience.
Strong analytical and quantitative skills, including experience with econometric modeling, time-series analysis, macroeconomic forecasting, stress testing methodologies, and statistical model performance evaluation.
Excellent knowledge of economics, finance, statistics, and mathematics.
Strong written and verbal communication skills, including the ability to explain complex ideas in simple, non-technical language.
Ability to establish and maintain effective working relationships with peers, business line managers, and colleagues across the bank.
Ability to work independently and collaboratively within a team environment.
Strong organizational skills and ability to work effectively on multiple tasks.
Knowledge of regulatory guidance.

Nice To Haves

Proficiency in Python, SAS, and R.
Experience in macroeconomic forecast model development or validation and experience in stress testing models.
Critical thinking, problem-solving, and creativity.
Motivation and ability to learn and understand various business lines and their functions within the organization.

Responsibilities

Independently validate macroeconomic forecasting models used in regulatory and business planning, including CCAR, CECL, capital planning, and business-as-usual activities.
Work with model owners and developers to conduct thorough, risk-focused validations and independently challenge model assumptions, theoretical foundations, estimation techniques, variable selection, forecasting performance, scenario design, sensitivity analyses, and outcome reasonableness.
Assess model risks, limitations, uncertainties, and potential sources of forecast error, and provide independent conclusions on model appropriateness and fitness for use.
Conduct independent testing, benchmarking, back-testing, sensitivity analysis, and other validation procedures to evaluate conceptual soundness, ongoing performance, and regulatory compliance.
Document validation procedures, findings, and conclusions in comprehensive validation reports.
Present validation results to model owners, developers, governance committees, and executive management.
Engage stakeholders across Risk Management, Finance, Treasury, and Business Lines.
Explain validation approaches, findings, model risk assessments, and remediation recommendations to regulators and Internal Audit.

Benefits

Healthcare coverage, including medical, dental, and vision.
Basic term and optional term life insurance.
Short-term and long-term disability coverage.
Pregnancy disability and parental leave.
401(k) and employer-funded retirement plan.
Paid vacation of 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 hours worked, up to 80 hours per calendar year unless otherwise provided by law.
Incentive and recognition programs.
Equity stock purchase.