Derivative Counterparty Risk Analyst

U.S. Bank; New York (NY); On-site; USD 118,000 - 139,000; Full time

Benefits offered by this job

Healthcare

Life insurance

Disability

Parental leave

401(k)

Paid vacation

Holidays

Adoption assistance

Sick leave

Job summary

U.S. Bank is seeking an experienced Counterparty Risk Analyst to conduct pre-trade credit risk analysis across a broad range of derivative products. You will quantify exposures, review transactions against limits, and work closely with trading and risk teams to ensure disciplined risk-taking.

The role requires strong quantitative skills, familiarity with EE, PFE, and CVA concepts, and the ability to communicate risk insights to stakeholders in a fast-paced trading environment.

Qualifications

• Bachelor’s degree or equivalent work experience
• Typically more than six years of applicable experience

Responsibilities

• Perform pre-trade counterparty credit risk analysis for products including interest rate, FX, commodity, and credit derivatives, and repos.
• Quantify counterparty risk exposure using EE, PFE, and stressed exposure metrics to assess potential market movements and default risk.
• Evaluate proposed transactions against credit limits, risk appetite, collateral, and regulatory requirements before trade execution.
• Collaborate with trading, credit, and risk management teams to identify material risk concentrations and advise on mitigants.

Skills

Analytical skills

Quantitative skills

Communication skills

Risk management understanding

Ability to work in fast-paced env.

Education

Bachelor's degree in Finance, Economics, Mathematics, Statistics, Engineering, Physics, Computer Science, or related quantitative discipline

Master's degree in Finance, Financial Engineering, Mathematics, Statistics, Economics, Engineering, or related quantitative field

Tools

Python

SQL

VBA

Job description

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 Counterparty Risk Group

The counterparty credit risk management function is responsible for the management and control of counterparty risk at US Bank. The group provides independent review of counterparty risk across the business, producing detailed analysis of the derivative portfolio for internal and external constituents and manage the control framework under which counterparty risk is governed.

Responsible for conducting pre-trade counterparty credit risk analysis for a broad range of products, including interest rate derivatives, foreign exchange (FX) derivatives, commodity derivatives, credit derivatives, and repo transactions. The role involves quantifying counterparty risk exposure through measures such as Expected Exposure (EE), Potential Future Exposure (PFE), and stressed exposure metrics to assess the potential impact of adverse market movements and counterparty default. The analyst evaluates proposed transactions against approved credit limits, risk appetite, collateral arrangements, and regulatory requirements to ensure appropriate risk‑taking and limit compliance prior to trade execution.

Working closely with trading, credit, and risk management teams, the analyst identifies material risk concentrations, recommends risk mitigants where necessary, and helps ensure that counterparty credit risk is accurately measured, monitored, and controlled across the trading portfolio.

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• Typically more than six years of applicable experience

Preferred Qualifications and Experience

• Bachelor's degree in Finance, Economics, Mathematics, Statistics, Engineering, Physics, Computer Science, or a related quantitative discipline, with 2-4 years of experience in counterparty risk, market risk, trading, CVA, or a related quantitative risk management function; or Master's degree in Finance, Financial Engineering, Mathematics, Statistics, Economics, Engineering, or a related quantitative field, with 1-2 years of relevant experience in counterparty risk, market risk, trading, CVA, or quantitative analytics.
• Strong analytical and quantitative skills with the ability to evaluate and interpret complex risk exposures.
• Understanding of counterparty credit risk concepts, including Expected Exposure (EE), Potential Future Exposure (PFE), CVA, collateral management, and netting agreements.
• Knowledge of financial products such as interest rate derivatives, FX derivatives, commodity derivatives, credit derivatives, and repo transactions.
• Ability to assess transactions against counterparty credit limits and identify material risk drivers.
• Proficiency in data analysis and risk reporting tools; experience with Python, SQL, VBA, or risk management platforms is a plus.
• Strong communication skills with the ability to present risk assessments and recommendations to trading, credit, and senior risk management stakeholders.
• Ability to work effectively in a fast‑paced trading and risk management environment.

LOCATION EXPECTATIONS

This role requires working from a U.S. Bank Location three (3) or more days per week. 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

• 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

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

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: $117,725.00 - $138,500.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance.

U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

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.