Jobs NYC

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.

Job Description

We are seeking a highly skilled and experienced Senior Quantitative Model Validation Analyst to join our market risk model validation team. In this role, you will be responsible for independently validating quantitative models used for derivatives pricing, market risk management, and counterparty credit risk management, ensuring that these models meet regulatory requirements, internal standards, and risk management objectives. You will work closely with model developers, risk managers, and senior management to provide insights into model performance and effectiveness. This is an excellent opportunity for someone with a strong quantitative background and experience working with interest rate, foreign exchange, and commodity derivatives for a large banking institution.

Key Responsibilities:

• Independently assess and validate quantitative models used for market risk management, pricing, counterparty credit risk management, and other financial processes supporting Front Office, Middle Office, and Risk Management functions.

• Validation scope will include interest rate, FX, and commodity derivatives, as well as other fixed income products.

• Review and challenge model assumptions, methodologies, and inputs to ensure accuracy and compliance with industry standards.

• Collaborate with cross-functional teams including model developers, risk managers, and senior leadership to provide recommendations for model improvements.

• Provide detailed validation reports and presentations for model stakeholders, communicating complex findings in a clear and actionable manner.

• Start with the latest developments in quantitative methods financial modeling and regulatory guidelines.

Basic Qualifications

• Bachelor’s degree in a quantitative field, and eight or more years of relevant experience

OR

• MA/MS in a quantitative field, and five or more years of related experience

OR

• PhD in a quantitative field, and four or more years of related experience

Preferred Skills/Experience

• Experience developing or validating models in derivatives pricing, market risk, and counterparty credit risk at a large banking institution.

• Strong preference for candidates with Front Office experience, particularly work with trading desks to develop or validate financial models.

• Proficiency in statistical analysis and financial risk modeling methods: value-at-risk, X-Valuation Adjustment (xVA), derivatives pricing, and stochastic differential equations.

• Advanced knowledge of programming languages such as Python, R, C#/C++, or similar tools used for model development and validation.

• Advanced understanding of applicable regulatory rules, guidance, or supervisory letters (SR 11-7, OCC 2011-12).

• Ability to manage multiple tasks across various timelines

• Strong analytical, organizational, problem-solving, negotiation, and project management skills.

• Demonstrated independence, teamwork and leadership skills.

• Strong communication and presentation skills, and proficiency in explaining technical concepts to model stakeholders and senior management.

NOTE: This role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

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 (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• 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 calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) EEO poster.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program (https://careers.usbank.com/verification-of-eligibility-for-employment) .

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $132,260.00 - $155,600.00 - $171,160.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.