Model Validation Manager - Mortgage and Retail Credit Loss

U.S. Bank; Charlotte (NC); On-site; USD 164,000 - 193,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

Life insurance

Disability insurance

Parental leave

Job summary

U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for residential mortgage and retail credit loss forecasting models.

You will oversee a large portfolio of CCAR and CECL models, guiding a team with strong analytical capabilities and collaboration with senior stakeholders across Risk Management. The role involves end-to-end validation, documentation, and interaction with regulators.

Qualifications

• Bachelor's degree (MA/MS/PhD strongly preferred) with nine+ years of relevant experience.
• Five+ years of experience leading a quantitative modeling team.
• Experience with regression techniques, time-series, and other statistical models; strong model validation expertise.
• Proficiency with SAS or similar statistical package; advanced data compilation and programming skills.
• Excellent written and verbal communication; ability to engage with senior stakeholders.

Responsibilities

• Lead and develop analytics team responsible for validation of CCAR/CECL credit loss forecasting models.
• Oversee end-to-end validation activities, including pre-implementation validations and ongoing monitoring.
• Ensure rigorous validation analyses and drive improvements to validation standards and processes.
• Review and approve validation deliverables; communicate conclusions to stakeholders with varying technical levels.
• Identify model risks, drive remediation, and coordinate with regulators, auditors, and management.

Skills

Leadership

Analytical skills

Communication skills

Project management

Statistical modeling

Education

Bachelor's degree plus advanced degree preferred

Tools

SAS

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

U.S. Bank is seeking an experienced Model Validation Manager to lead validation efforts for our Residential Mortgage and Retail Credit Loss Forecasting models. This role reports to the Director of Credit, Compliance, and Financial Crimes Model Validation within Model Risk Management, part of the Bank’s Risk Management and Compliance organization. This highly visible leadership position operates at the intersection of credit risk, capital planning, and regulatory oversight, partnering closely with senior and executive stakeholders across the Bank. You will lead and develop a team responsible for validating and overseeing a large, complex inventory of CCAR and CECL credit loss forecasting models across consumer portfolios. These models are foundational to enterprise credit risk assessment, loss forecasting, reserving, and capital planning-offering a unique opportunity to deliver high-impact insights through rigorous analysis, clear documentation, and strong stakeholder engagement.

Key Responsibilities

• Lead and develop a high-performing analytics team responsible for independent validation of the Bank’s residential mortgage and retail portfolio credit loss forecasting models supporting CCAR stress testing and CECL requirements.
• Oversee end-to-end model validation activities, including pre-implementation validations, periodic reviews, and ongoing monitoring, providing effective challenge to model design, methodology, data, processes, and performance.
• Ensure rigorous execution of validation analyses and drive continuous enhancement of validation standards and processes.
• Review and approve validation deliverables to ensure conclusions are well-supported, clearly documented, and communicated effectively to stakeholders with varying levels of technical expertise.
• Identify model risks and findings, drive corrective actions, and ensure timely remediation in alignment with Model Risk Management program requirements.
• Manage validation execution against plan, including resource allocation, coaching, prioritization, and quality control across the validation portfolio.
• Engage and partner with business stakeholders throughout validation and remediation efforts, fostering strong relationships while maintaining independent and credible challenge.
• Manage internal audits and regulatory examinations, serving as a key point of contact for regulators, auditors, and senior stakeholders to clearly articulate validation analyses, findings, and conclusions, and effectively address supervisory feedback.

Basic Qualifications

• Bachelor's degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience.
• Five or more years of experience leading a quantitative modeling team.

Preferred Skills/Experience

• Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package.
• Advanced data compilation, programming skills and qualitative analysis skills.
• Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches.
• Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters.
• In depth knowledge of Bank products and services.
• Demonstrated independence, teamwork and leadership skills.
• Strong analytical, organizational, problem-solving, negotiation, and project management skills.
• Excellent interpersonal, verbal and written communication skills.

Location Requirements

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

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:

• 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.

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.

Pay Range: $164,390.00 - $193,400.00

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.