Model Validation Director - Credit Compliance

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U.S. Bank is seeking an experienced Model Validation Director for our Credit, Allowance & Compliance areas. The role resides within the Bank’s Risk Management and Compliance organization. The Executive Leader will support the Model Risk Management program with a governance-driven structure designed to assess and manage risks across credit, financial, liquidity, market, operational, reputational, strategic, and other areas as appropriate.

• Leads a highly skilled analytic team to independently review and validate a wide range of models including CCAR, allowance, compliance, and cyber security models
• Assesses model risk through pre-implementation validations, periodic validations and monitoring activities that independently challenge conceptual design/methodology, reference data, processes, and performance
• Identifies corrective actions that promote model risk management process improvements and ensure timely remediation of the identified issues
• Leads the team in identifying and implementing a process to conduct a diverse set of sophisticated analyses of models and for effectively managing tasks/resources to shepherd each project to its completion in a timely fashion. Validation produces reports challenging model assumptions, limitations, processes, and documentation
• Develops and leads a team to establish and continuously enhance model validation processes involving execution of thorough testing and critical review of conceptual and performance aspects of the models through creation of alternative benchmark approaches, back testing, stress and sensitivity testing
• Responsible for review of independently authored reports detailing results of analyses to ensure results are presented in a manner accessible to various levels of management and quantitative backgrounds
• Interfaces with key stakeholders throughout validation process, regulators and internal audit to discuss justification and reasoning behind validation and review findings

• Master or Doctoral degree and 10+ years of relevant experience
• 6+ years of experience leading a quantitative modeling team
• Advanced degree in quantitative discipline such as Mathematics, Statistics, Finance, Economics or related field
• Strong background in at least one statistical programming language such as SAS, Python or R. Familiarity with VBA, SQL, or Matlab is a plus
• Strong critical thinking skills and a detail-oriented nature to challenge models developed internally and by vendors
• Strong background and practical experience working with econometric concepts such as time-series models and generalized linear regression approaches
• Demonstrated ability to draw insights from large complex datasets
• Strong background and practical experience developing and/or validating credit loss forecasting and compliance models
• Excellent verbal and written communication skills are necessary (ability to explain complex ideas in simple, non-technical language)
• Ability 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
• Strong leadership and organizational skills, ability to manage multiple teams and work on multiple assignments concurrently
• Experience with regulatory guidance (OCC 2011-12, Basel, CCAR, CECL, AML/BSA)
• Familiarity with vendor platforms such as QRM, Polypaths, Yield Book, Risk Metrics, and Bloomberg
• Experience working on teams that participate in bank stress testing exercises
• In-depth knowledge of and experience with credit loss forecasting models (retail and wholesale portfolios), AML models, fair lending models, and cyber security models
• Strong understanding of various statistical, economic, and financial theories; such as econometric methods, statistical approaches, data sampling, numerical analysis, and options pricing techniques
• Strong understanding of regulatory rules and risk management procedures with the ability to effectively convey complex concepts to a broad audience
• Demonstrated…