Quantitative Model Validation Analyst

U.S. Bank; New York (NY); On-site; USD 98,000 - 116,000; Full time

Benefits offered by this job

Healthcare

Retirement plan

Paid vacation

Disability insurance

Parental leave

Job summary

U.S. Bank is seeking a model validation professional to independently validate market risk and capital models used in trading, valuation, risk measurement, and regulatory capital calculations.

You will perform conceptual soundness reviews, quantitative testing, and evaluate model performance throughout the lifecycle. Join a team that works closely with developers, risk managers, and governance to provide clear validation reports and support regulatory exams.

Qualifications

• Bachelor’s degree in a quantitative field with 5+ years of relevant experience.
• MA/MS in a quantitative field with 3+ years of related experience.
• PhD in a quantitative field with less than 2 years of related experience.

Responsibilities

• Perform independent validation of market risk and capital models.
• Conduct quantitative testing (benchmarking, sensitivity analysis, back testing, stress testing).
• Evaluate model performance and monitoring processes.
• Prepare validation documentation aligned with internal standards and regulatory expectations.
• Collaborate with model developers, risk managers, and governance teams.

Skills

Market risk

Quant modeling

Python

Derivatives

Time series

Risk analytics

Independent challenge

Leadership

Education

Bachelor's degree in a quantitative field

MA/MS in a quantitative field

PhD in a quantitative field

Tools

Python

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

Performs independent validation of market risk and capital markets models used in trading, valuation, risk measurement, and regulatory capital calculations. Models may include VaR, counterparty credit risk, xVA, stress testing models, pricing and valuation models, sensitivities/Greeks, curve construction, and related risk analytics. Executes validation activities across the model lifecycle, including:

• Conceptual soundness reviews referencing financial theory and market practice
• Quantitative testing (benchmarking, sensitivity analysis, back testing, stress testing, outcomes analysis)
• Model implementation and controls review
• Evaluation of ongoing model performance and monitoring processes
• Identification and tracking of model limitations, compensating controls, and overlays

Produces clear, well-structured model validation documentation aligned with internal standards and regulatory expectations. Deliverables include validation reports, presentations, test results, code documentation, monitoring report reviews, and related procedures.

Works closely with model developers, risk managers, and governance teams while maintaining independent challenge and escalation of material model risks. Supports responses to regulatory exams, internal audit, and supervisory findings.

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

• Strong foundational knowledge of market risk and capital markets concepts, including derivatives, pricing, and risk measurement
• Experience with statistical and quantitative modeling techniques (regression, time series analysis, simulation, parametric/non parametric methods)
• Familiarity with model validation methodologies and regulatory expectations (SR 26-2, OCC 2026-13)
• Proficiency in Python or similar statistical/programming tools used for validation and testing
• Understanding of financial products and trading strategies across one or more asset classes
• Ability to manage multiple tasks across various timelines
• Strong analytical, organizational, problem-solving, negotiation, and project management skills
• Demonstrated independence, teamwork and leadership skills
• Effective interpersonal, verbal and written communication skills
• Preference given to applicants with derivative pricing methods and quantitative risk management experience

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: $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.