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
Model Risk Manager Role
NOTE: This position is located in Minneapolis, MN
U.S. Bank is looking for a Model Risk Manager to join the Chief Administration Office (CAO) risk team, as we build out our model risk oversight program. The CAO Chief Risk Office (CRO) team works with internal risk partners and business units across CAO as well as enterprise groups (Model Risk Management, FRBD, Audit) to identify and manage model risk.
The model risk manager servers as a liaison between the Model Risk Management (MRM) program and the Chief Administration Office enabling function. They support the CAO CRO to establish and maintain model risk management procedures and processes within CAO, ensuring compliance with MRM policy and standards.
This visible role will act as a consultative resource during all phases of the model lifecycle, including model identification, onboarding, validation, implementation and use, ongoing monitoring, change management and retirement/deactivation. The ideal candidate will be a proactive self-starter with a collaborative, problem-solving mindset and have a strong background in risk management within the financial services industry.
The Model Risk Manager supports the CAO CRO function by:
- Regularly meeting with the model owners and MRM validation/governance personnel to discuss new models, model changes, redevelopments or retirements, and current model issues.
- Collaborating with business lines, model owners, and model validation and governance personnel to ensure MRM program requirements are communicated and understood.
- Assessing model documentation for sufficiency and completeness against program standards.
- Tracking and vetting model issues/findings to ensure effective and timely remediation.
- Evaluating emerging business line solutions and technologies (including AI/ML) to assess model risk applicability.
- Understanding of bank products, services, and processes in relation to model use and the intersection with other risk programs such as data, technology and FaRB.
- Facilitating recurring control execution and model certification processes.
- Challenging existing processes and program requirements to influence continuous improvements.
- Assisting with internal procedure and process enhancements and providing feedback to MRM on policy/standards and model inventory management solution
Basic Qualifications
- Bachelor's degree and eight or more years of applicable risk management experience
OR
- MA/MS in a quantitative field with five or more years of applicable risk management experience
OR
- PhD in a quantitative field, and four or more years of related experience
Preferred Skills/Experience
- Master's degree in a quantitative field and five years of experience in model development, validation and/or governance within the financial services industry.
- Advanced knowledge of quantitative and qualitative risk factors affecting models, industry risks, risk management approaches, and administration / management of the model life cycle.
- Advanced understanding of model development, model implementation and model monitoring processes, model validation tests/methodologies, and SAS or similar statistical packages.
- Strong written and verbal communication skills, including strong soft skills to effectively communicate, influence change, and ultimately communicate and enforce Model Risk Management program requirements through formal and informal channels.
- Experience with AI/ML technology and algorithms and risk assessment processes.
- Advanced understanding of applicable laws, regulations, and regulatory trends that affect financial services industry and model risk management.
- Familiarity with related risk programs such as Data Governance and Technology Risk
- Strong project management skills, proven self-starter, and ability to work both independently and in a project / team environment.
- Applicable certifications
NOTE: This role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.
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:
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 (some may vary based on role, location or hours):

• 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

EEO is the Law
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
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: $116,280.00 - $136,800.00 - $150,480.00
Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.