Quantitative Model Development Analyst - Credit Modeling

U.S. Bank; Chicago (IL); Hybrid; USD 98,000 - 116,000; Full time

Benefits offered by this job

Healthcare

401(k) plan

Paid time off

Job summary

U.S. Bank is seeking a meticulous Model Developer to join the MDDS team. You will help build and implement expected loss forecasting models for CRE and Small Business portfolios, ensuring compliance with CECL, CCAR, and related regulatory standards.

You will work with credit risk management, finance, and audit to integrate models into BAU activities and support ongoing performance monitoring. The role requires strong programming skills in Python and SAS, experience with model validation, and the

Qualifications

• Bachelor’s degree in a quantitative field is required or a higher degree with related experience.
• MA/MS in a quantitative field with relevant experience is preferred.
• PhD in a quantitative field is advantageous with limited related experience.

Responsibilities

• Develop and implement expected loss forecasting models for CRE and Small Business portfolios.
• Ensure compliance with CECL, CCAR, and other regulatory requirements.
• Maintain alignment with risk management policies and collaborate with model validation and audit teams.
• Communicate model functions and predictions to stakeholders and support BAU integrations.
• Monitor model performance, backtesting, and data quality.

Skills

Python

SAS

Git

Backtesting

Credit risk modeling

Model validation

Communication

Education

Bachelor's degree in quantitative field

MA/MS in quantitative field

PhD in quantitative field

Tools

Git

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

We are seeking a motivated and detail-oriented Model Developer to join our Model Development & Decision Support (MDDS) team. In this role, you will support the development and implementation of expected loss forecasting models for Commercial Real Estate (CRE) and Small Business portfolios, ensuring compliance with CECL, CCAR, and other regulatory requirements.

In this position, you will contribute to the development of credit risk models for Commercial Real Estate and Small Business portfolios, ensuring alignment with diverse financial and regulatory requirements. You will be responsible for maintaining consistency with the Bank’s risk management policies, procedures, and practices by collaborating with colleagues in credit portfolio risk management, corporate finance, external reporting, model validation, and audit services. You are expected to communicate statistical model functions and predictions to stakeholders to demonstrate effective risk management and compliance as well as to foster integrations of credit risk modeling into business as usual (BAU) activities. You will also support ongoing model performance monitoring, including backtesting review and investigation of unexpected results, as well as wholesale data development and maintenance.

Key deliverables include comprehensive written model technical documents, oral and written presentations, as well as fluent programming skills. The ideal candidate is expected to have a good understanding of commercial portfolios and statistical methods, industry experience, excellent communication, and attention to detail as well as a strong background in predictive modeling.

Basic Qualifications

• Bachelor’s degree in a quantitative field, and five or more years of relevant experience
• MA/MS in a quantitative field, and three or more years of related experience
• PhD in a quantitative field, and less than two years of related experience

Preferred Skills/Experience

Understanding of banking, financial metrics, and credit risk management

Knowledge of banking regulation and requirements for stress testing and credit reserves.

Effective verbal and written communication skills.

Programming experience in Python and SAS

Experience in building credit models for commercial exposures

Experience working with internal model validation and model risk management

Thorough data compilation, data quality review, and qualitative analysis skills

Strong analytical, organizational, problem-solving, negotiation, and project management skills

Ability to manage multiple tasks across various timelines

Demonstrated independence, teamwork and leadership skills

Code management and version control using Git

Experience with model performance monitoring

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.

Equal Opportunity Employer

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.

Salary Range

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: $98,175.00 - $115,500.00

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.