Model Risk Manager

at  US Bank National Association

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.

NOTE: THIS POSITION IS LOCATED IN MINNEAPOLIS, MN

U.S. Bank is looking for a Model Risk Manager to join the Chief Administration Office (CAO) risk team, as we build out our model risk oversight program. The CAO Chief Risk Office (CRO) team works with internal risk partners and business units across CAO as well as enterprise groups (Model Risk Management, FRBD, Audit) to identify and manage model risk.
The model risk manager servers as a liaison between the Model Risk Management (MRM) program and the Chief Administration Office enabling function. They support the CAO CRO to establish and maintain model risk management procedures and processes within CAO, ensuring compliance with MRM policy and standards.
This visible role will act as a consultative resource during all phases of the model lifecycle, including model identification, onboarding, validation, implementation and use, ongoing monitoring, change management and retirement/deactivation. The ideal candidate will be a proactive self-starter with a collaborative, problem-solving mindset and have a strong background in risk management within the financial services industry.

BASIC QUALIFICATIONS

• Bachelor’s degree and eight or more years of applicable risk management experience

OR

• MA/MS in a quantitative field with five or more years of applicable risk management experience

OR

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

PREFERRED SKILLS/EXPERIENCE

• Master’s degree in a quantitative field and five years of experience in model development, validation and/or governance within the financial services industry.
• Advanced knowledge of quantitative and qualitative risk factors affecting models, industry risks, risk management approaches, and administration / management of the model life cycle.
• Advanced understanding of model development, model implementation and model monitoring processes, model validation tests/methodologies, and SAS or similar statistical packages.
• Strong written and verbal communication skills, including strong soft skills to effectively communicate, influence change, and ultimately communicate and enforce Model Risk Management program requirements through formal and informal channels.
• Experience with AI/ML technology and algorithms and risk assessment processes.
• Advanced understanding of applicable laws, regulations, and regulatory trends that affect financial services industry and model risk management.
• Familiarity with related risk programs such as Data Governance and Technology Risk
• Strong project management skills, proven self-starter, and ability to work both independently and in a project / team environment.
• Applicable certifications

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.

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 la