Model Validation Manager - Balance Sheet Modeling

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Job Description

U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for our Balance Sheet models. This role reports to the Director of Financial Risk 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 interest rate risk, liquidity, capital planning, financial forecasting, 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 models used to forecast net interest income, market value of equity, pre-provision net revenue, and other asset and liability management and financial forecasting purposes.

This position offers a unique opportunity to deliver high‑impact insights through rigorous analysis, clear documentation, and strong stakeholder engagement - including participation in senior level operating committees.

ESSENTIAL FUNCTIONS:

Leads a highly skilled analytic team to independently review and validate a wide range of models including treasury, liquidity, PPNR, interest rate risk, and general financial forecasting.

Assesses model risk through pre-implementation validations, periodic validations and monitoring activities that independently challenge conceptual design/methodology, reference data, processes, and performance.

Identifies corrective actions that promote model risk management process improvements and ensure timely remediation of the identified issues.

Leads the team in identifying and implementing a process to conduct a diverse set of sophisticated analyses of models and for effectively managing tasks/resources to shepherd each project to its completion in a timely fashion. Validation produces reports challenging model assumptions, limitations, processes, and documentation.

Develops and leads a team to establish and continuously enhance model validation processes involving execution of thorough testing and critical review of conceptual and performance aspects of the models through creation of alternative benchmark approaches, back testing, stress and sensitivity testing.

Responsible for review of independently authored reports detailing results of analyses to ensure results are presented in a manner accessible to various levels of management and quantitative backgrounds.

Interface with key stakeholders throughout validation process, including regulators and internal audit, to discuss justification and reasoning behind validation and review findings.

Basic Qualifications

* 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.

Preferred Skills/Experience

* 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.

* Strong background in at least one statistical programming language such as SAS, Python

or R. Familiarity with VBA, SQL, or Matlab is a plus.

* 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.

* Strong background and practical experience developing and/or validating models used for Asset and Liability Management, deposit balance forecasting, PPNR, liquidity risk, interest rate risk, and…