Model Risk Quantitative Analyst - Machine Learning - Minneapolis or Remote

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Posted 5 days ago United States Salary undisclosed
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Job Description

At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. 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.

Job Description

The position is an individual contributor role residing within the Bank's Risk Management and Compliance organization. Specifically, this position supports the Model Risk Management ("MRM") program at the Bank. The overall MRM program is designed to provide governance and control to manage financial models and associated risks that may impact the company, including financial, liquidity, market, operational, reputational, strategic, and other risks as appropriate. Validation Analysts within MRM provide independent validation of models that the Bank relies on for making financial decisions. A robust and comprehensive model validation comprises steps that independently challenge a model's conceptual framework and methodology, reference data used in the model, implementation process, as well as model usage and performance. The validation process also identifies corrective actions to ensure timely remediation of model risk.

The incumbent will work with Model Owners and Developers to independently validate models related to the Bank's fraud detection strategies, adhering to OCC 2011-12 Regulatory Guidance and USB's Model Risk Management Policy and Guidelines. He/she will document and present the model validation findings to model owners, developers as well as interface with key stakeholders, regulators (OCC/FED), and internal auditors to discuss the justification and reasoning behind various validation and review findings.

Essential Functions:
1. Perform complex mathematical analysis utilizing various statistical methods or techniques. Areas of focus are models using machine learning (GBTs, Neural Networks), logistic regression and various other ensemble techniques.
2. Validates both custom built models and third-party proprietary models.
3. Creates, validates, tests, documents, implements, and/or oversees usage of advanced quantitative models. Deliverables include the creation of validation documentation such as: presentations, written reports, model or reporting code documentation, business requirements, monitoring reports and related code, and procedures.
4. Retrieves, analyzes and interprets data from various sources (internal and external). Aggregates and creates data from different databases to facilitate statistical analysis for development or validation. Performs ad hoc analysis used for statistical/econometric analysis as required.
5. Interprets findings from statistical analyses performed for communication to senior and executive level management in written and verbal form.
6. Prepares and communicates statistical analysis and findings to audit and regulatory examiners.
7. Reads, understands, and interprets regulatory rules and guidance related to the models under development and/or being reviewed/validated. In addition, quantitative resource should have an understanding of the business product or structure to ensure models capture key business elements and risks.
8. Ability to understand and use various programming languages to identify, investigate and resolve data and programming issues.

Basic Qualifications

-Bachelor's degree in a quantitative field required with at least 5 years of relevant experience


-MA/MS with at least 3 years of related experience


-PhD with less than 2 years of related experience

Preferred Skills/Experience

- Requires at least two years of hands-on experience with Machine Learning, including classification theory, tree-based modeling methods, neural networks, logistic regression and others.
- Advanced data compilation, programming skills and qualitative analysis skills. Proficiency with R, Python, SAS and SQL programming languages, with knowledge of related data analysis libraries.

- Advanced understanding of applicable laws, regulations, financial services, and regulatory trends that affect assigned line of business, including OCC 2011-12 regulatory guidance.
- Knowledge or experience of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches.
- Demonstrated independence, teamwork and leadership skills. Ability to work with multiple teams, and strong work ethic.

- Excellent interpersonal, written and verbal communication.
- Strong organizational, problem-solving, negotiation, and project management skills.


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 .

Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.

Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting .

EEO is the Law
Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.


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 .

Salary range reflected is an estimate of base pay and is for the primary location. Base pay range may vary if an offer is made for work in a different location. Pay Range: $95,540.00 - $112,400.00 - $123,640.00

Due to legal requirements, U.S. Bank requires that the successful candidate hired for some positions be fully-vaccinated for COVID-19, absent being granted an accommodation due to a medical condition, pregnancy, or sincerely held religious belief or other legally required exemption. For these positions, as part of the conditional offer of employment, the successful candidate will be asked to provide proof of vaccination or approval for an accommodation or exemption upon hire.