Quantitative Model Validation Analyst
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 provides independent challenge and validation of macroeconomic forecasting models used in regulatory and business planning processes, including CCAR, CECL, capital planning, and business-as-usual activities. The analyst works with model owners and developers to conduct risk-focused validations, evaluating model assumptions, theoretical foundations, estimation techniques, variable selection, forecasting performance, scenario design, sensitivity analyses, and outcome reasonableness. The role assesses model risks, limitations, uncertainties, and potential sources of forecast error, and provides independent conclusions about model appropriateness and fitness for use. Validation work must comply with regulatory guidance and U.S. Bank’s Model Risk Management Policy and Standards. The analyst performs independent testing, benchmarking, back-testing, sensitivity analysis, and other procedures to assess conceptual soundness, ongoing performance, and regulatory compliance. The role documents procedures, findings, and conclusions in validation reports and presents results to model stakeholders, governance committees, and executive management. It also involves regular engagement across Risk Management, Finance, Treasury, and business lines, as well as interaction with OCC and Federal Reserve regulators and Internal Audit. Clear communication of 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.
- Experience with econometric modeling, time-series analysis, macroeconomic forecasting, stress testing methodologies, and statistical model performance evaluation.
- Ability to communicate complex quantitative concepts clearly to technical and non-technical audiences.
Nice To Haves
- Excellent knowledge of economics, finance, statistics, and mathematics.
- Proficiency in Python, SAS, and R.
- Experience in macroeconomic forecast model development or validation and experience with stress testing models.
- Critical thinking, problem-solving, and creativity.
- 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.
- Motivation and ability to learn about various business lines and their functions.
- Ability to work independently and collaboratively within a team environment.
- Strong organizational skills and ability to manage multiple tasks effectively.
- Knowledge of regulatory guidance.
Responsibilities
- Independently validate macroeconomic forecasting models used in CCAR, CECL, capital planning, and other business-as-usual activities.
- Challenge model assumptions, theoretical foundations, estimation techniques, variable selection methodologies, forecasting performance, scenario design, sensitivity analyses, and outcome reasonableness.
- Assess model risks, limitations, uncertainties, and potential sources of forecast error, and provide conclusions about model appropriateness and fitness for use.
- Conduct independent testing, benchmarking, back-testing, sensitivity analysis, and other validation procedures.
- Evaluate model conceptual soundness, ongoing performance, and compliance with regulatory expectations.
- Document validation procedures, findings, and conclusions in comprehensive validation reports.
- Present validation results to model owners, developers, governance committees, and executive management.
- Engage with stakeholders across Risk Management, Finance, Treasury, and business lines, and interface with regulators and Internal Audit.
- Explain validation approaches, findings, model risk assessments, and remediation recommendations to technical and non-technical audiences.
Benefits
- Medical, dental, and vision healthcare
- 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 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
- 401(k) contribution and pension
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
