Model Validation Manager - Balance Sheet Modeling

Overview

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.

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. The 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.

• 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.
• Production of validation reports that challenge model assumptions, limitations, processes, and documentation.
• Develops and leads a team to establish and continuously enhance model validation processes involving thorough testing and critical review of conceptual and performance aspects of the models through the 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.
• Interfaces with key stakeholders throughout the validation process, including regulators and internal audit, to discuss justification and reasoning behind validation and review findings.

• 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.

• Extensive knowledge of various regression techniques, parametric and non‑parametric algorithms, time‑series techniques, and other statistical models, as well as a broad understanding of model validation tests/methodologies, using SAS or a comparable 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 quantitative and qualitative risk factors, industry risks, competition risks, and risk‑management approaches.
• Practical experience developing and/or validating models used for Asset and Liability Management, deposit balance forecasting, PPNR, liquidity risk, interest rate risk, and general financial forecasting.
• Experience with MSR valuation models, market‑risk models, economic scenarios, and/or credit risk models is a plus.
• 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 verbal and written communication skills (ability to explain complex ideas in simple,…