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Sr. Quantitative Model Validation Analyst - AML/Financial Crimes - Remote

Minneapolis, Minnesota
Job Type
2 Sep 2022
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, were 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 Banks Second Line of Defense 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 models 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 individual in this position works with Model Owners and Developers to validate models related to the Bank's Compliance Program (Anti-Money Laundering, Economic Sanctions/OFAC, Fair Lending), adhering to OCC 2011-12 Regulatory Guidance and USB's Model Risk Management Policy and Standards. He/she will document and present the model validation findings to model owners, developers as well as interface with key stakeholders, regulators (OCC/FRB), and internal auditors to discuss the justification and reasoning behind various validation and review findings.

Essential Functions:

  1. Performs complex mathematical analysis utilizing various statistical methods or techniques including machine learning, logistic regression and various other statistical techniques.
  2. Validates both custom built models and third-party proprietary models.
  3. Independently validates, tests, documents, and/or oversees usage of advanced quantitative models. Deliverables include the creation of validation documentation such as: presentations, written reports, validation benchmark models and support for identified concerns and proposed enhancements.
  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

-Bachelors degree in a quantitative field required with at least 8 years of relevant experience


-MA/MS with at least 5 years of related experience


-PhD with at least 4 years of related experience

Preferred Skills/Experience
  • Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance
  • Excellent verbal and written communication skills are necessary (ability to explain complex ideas in simple, non-technical language)
  • Strong statistical modeling experience in Financial Crime Models (AML, Economics Sanctions and Customer Risk Rating) and Compliance Models (Fair Lending)
  • Advanced understanding of applicable compliance laws, regulations, financial services, and regulatory trends that affect assigned line of business
  • Prior exposure to validation or development of BSA/AML Models, Fair Lending Models or Artificial Intelligence and Machine Learning Models
  • Ability to build strong relations with stakeholders, business line partners, and colleagues across the bank
  • Deep understanding of Machine Learning and NLP is a plus
  • Experience using either SAS, STATA, R, EVIEWS or comparable statistical software
  • Demonstrated independence, teamwork and leadership skills
  • Strong project management skills

If theres 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 companys 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: $108,545.00 - $127,700.00 - $140,470.00

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.

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

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.

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  • Job Reference: 702622206-2
  • Date Posted: 2 September 2022
  • Recruiter: U.S. Bank
  • Location: Minneapolis, Minnesota
  • Salary: On Application
  • Sector: Banking & Financial Services
  • Job Type: Permanent