Quantitative Model Validation Analyst

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.

Performs independent validation of market risk and capital markets models used in trading, valuation, risk measurement, and regulatory capital calculations. Models may include VaR, counter party credit risk, xVA, stress testing models, pricing and valuation models, sensitivities/Greeks, curve construction, and related risk analytics. Executes validation activities across the model lifecycle, including:

• Conceptual soundness reviews referencing financial theory and market practice
• Quantitative testing (benchmarking, sensitivity analysis, back testing, stress testing, outcomes analysis)
• Model implementation and controls review
• Evaluation of ongoing model performance and monitoring processes
• Identification and tracking of model limitations, compensating controls, and overlays

Produces clear, well-structured model validation documentation aligned with internal standards and regulatory expectations. Deliverables include validation reports, presentations, test results, code documentation, monitoring report reviews, and related procedures.

Works closely with model developers, risk managers, and governance teams while maintaining independent challenge and escalation of material model risks. Supports responses to regulatory exams, internal audit, and supervisory findings.

• Bachelor’s degree in a quantitative field, and five or more years of relevant experience
• OR
• MA/MS in a quantitative field, and three or more years of related experience
• OR
• PhD in a quantitative field, and less than two years of related experience

• Strong foundational knowledge of market risk and capital markets concepts, including derivatives, pricing, and risk measurement
• Experience with statistical and quantitative modeling techniques (regression, time series analysis, simulation, parametric/non parametric methods)
• Familiarity with model validation methodologies and regulatory expectations (SR 26-2, OCC 2026-13)
• Proficiency in Python or similar statistical/programming tools used for validation and testing
• Understanding of financial products and trading strategies across one or more asset classes
• Ability to manage multiple tasks across various timelines
• Strong analytical, organizational, problem-solving, negotiation, and project management skills
• Demonstrated independence, teamwork and leadership skills
• Effective interpersonal, verbal and written communication skills
• Preference given to applicants with derivative pricing methods and quantitative risk management experience

This role requires working from a U.S. Bank Location three (3) or more days per week.

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.

• 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…