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Quantitative Validation Analyst - Richfield, MN or Charlotte, NC
The Quantitative Validation Analyst role resides within the Banks Risk Management and Compliance organization. Specifically, this position supports the Model and Tool Risk Management 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, credit, market, operational, reputational, strategic, and other risks as appropriate.
Quantitative Validation analysts within MRM provide independent oversight and effective challenge of models and tools used by the bank for financial decision making. To achieve the purpose, analysts assess risk through periodic validations that independently challenge the quality of documentation, model/tool construction, conceptual framework and methodology, implementation process, as well as model/tool usage and performance. These components are evaluated to ensure sound practices in development and use of models/tools. The validation should follow both Regulatory Guidance and USB's Model Risk Management Policy and Guidelines. The quantitative analyst is responsible to identify corrective actions that promote risk management process improvements and ensure the timely remediation of identified issues. The quantitative analyst is expected to document and present the model/tool validation findings to model/tool owners and developers. He/she will interface with key stakeholders, regulators (OCC/FED), and internal auditors to discuss the justification and reasoning behind various validation and review findings.
Basic Qualifications - Bachelor's degree in a quantitative field, and four to six years of experience in statistical modeling OR - Master's degree in a quantitative field, and less than four years of experience in statistical modeling
Strong background and experience performing statistical analysis and working with complex MS Excel spreadsheets. Strong independent critical thinking skills to provide effective challenge to models/tools developed internally and by vendors. Ability to work independently, but in close coordination with others as part of a team. Strong organizational skills and the ability to manage multiple assignments concurrently. Ability to work efficiently and effectively to build strong relations with peers, business line managers, and colleagues across the bank. Highly motivated with ability to learn and understand various business lines and their function within the organization. Excellent verbal and written communication skills are necessary. Ability to explain complex ideas in simple, non-technical language. Programming background in SAS and familiarity with R, VBA and SQL are a plus. Understanding of financial markets and products, experience in Basel regulatory capital calculation, and bank regulations are a plus. Knowledge of regulatory guidance (SR11-7, Basel, ICAAP, AMA and Market Risk Rule).
Primary Location: North Carolina-NC-Charlotte Work Locations: Job: Risk/Compliance/QC/Audit/Fraud Organization: U.S. Bank. Shift: 1st - Daytime Travel: No