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

In this role, you will lead a team of model developers responsible for credit loss models. Portfolios cover commercial and industrial, commercial real estate, residential mortgages, credit cards, and other retail portfolios. Models support consolidated loan portfolio stress testing (CCAR), the allowance for credit losses (CECL), counterparty exposure and commercial origination scorecards.

The team includes model developers, implementation, and production analysts as well as performance monitoring specialists for model execution and results analysis. The ideal candidate will have exceptional leadership experience, strong data analytics, model development and programming, strategic vision for the next iteration of modeling languages including AI and have strong relationships and collaboration skills.

U.S. Bank’s Credit Risk Administration (CRA) team is seeking a quantitative model development manager with leadership experience in a quantitative/technical field to lead a team of model developers and programming analysts within our Model Development & Decision Science (MDDS) team.

Model development/implementation and management

• Lead and manage the development of quantitative models for credit loss forecasting to maintain high standards and alignment with internal and external requirements.
• Review and challenge credit loss model results from production runs for stress testing and credit reserves.
• Document model performance monitoring results and identify areas where overlays are needed, or performance deterioration requires recalibration/redevelopment.
• Communicate with regulators on a regular basis and lead bank participation in regulatory exams.
• CECL/Stress Testing: Coordinate and oversee the CECL and stress testing process within credit risk management including model development, production model runs, assessment of emerging risks, integration of the bank’s risk inventory, impact of balance forecasts, macroeconomic scenarios, model overlays, and reporting and documentation. Lead review and challenge meetings of all credit stress testing results, documentation, and executive presentations.
• Collaborate with stakeholders throughout U.S. Bank such as credit risk management, treasury, capital planning, accounting, portfolio risk management, enterprise risk management, model risk management, and business lines.
• Counterparty and Commercial Origination Scorecards:  Coordinate model development efforts in alignment with credit partners to deliver best in class models to support prudent portfolio growth.
• Other:  Establish technological vision and strategy for team.  Recruit, hire, and train new team members, including providing leadership in quant rotation program and developing an offshore strategy; conduct regular performance reviews and provide constructive feedback. Mentor and foster an environment of continued learning and development for the team members.

Basic Qualifications

• Master’s Degree or higher in a quantitative field such as computer science, data science, mathematics, or statistics.
• 12 or more years of experience in quantitative modeling leadership and development.
• Strong experience in credit loss modeling (PD, LGD, EAD) across various loan portfolios.
• Deep understanding of banking, financial metrics, and credit risk management
• Knowledge of banking regulation and requirements for stress testing and credit reserves.
• Demonstrated success attracting talent, building, and leading teams of model developers or analysts in similarly technical fields.
• Excellent executive presence and verbal and written communication skills.
• Strong analytical, organizational, problem-solving, and project management skills.

Preferred Skills

• Python, SAS, SQL, R, and artificial intelligence coding skills
• Cloud migration experience
• Project management

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.

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 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.

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: $231,795.00 - $272,700.00 - $299,970.00

U.S. Bank will consider qualified applicants with criminal histories in a manner consistent with the San Francisco Fair Chance Ordinance.

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.