U.S. Bank
Senior Quantitative Econometrics Manager
U.S. Bank, Charlotte, North Carolina, United States, 28245
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
Corporate Treasury is a division within the CFO group where part of their responsibility is to provide executive management with accurate, timely, and comprehensive forecasts of the balance sheet and net interest income (NII). Another critical Treasury function is the measurement and analysis of Interest Rate Risk (IRR) and Comprehensive Earnings at Risk. The latter evaluates the Bank’s earning sensitivity due to interest rate shocks with the corresponding economic shocks. This information provides the framework for the company to position its balance sheet consistent with its risk appetite and expectations for changes in interest rates and economic outlook. Corporate Treasury’s Quantitative Finance group supports these efforts by developing quantitative systems, models and methods that link the Bank’s balance sheet, net interest income, and noninterest income to the broader macroeconomic environment and its perturbations.
Quantitative Finance is looking for a leader in econometric modeling who will facilitate the development of proprietary models that connect the interest rate outlook to broader economic sensitivities. This role will partner with senior to executive leaders and oversees a team whose primary purpose is to create, validate, test, document, implement, and/or oversee usage of complex econometric models. The models may cover a variety of economic indicators; however, all models are used as part of a broader process supporting financial decision-making. Specific results focus on documenting the creation and/or testing of advanced statistical models and communicating such models to stakeholders within the Bank. Responsible for oversight of a team whose deliverables include the creation of model development and/or validation documentation such as: presentations, written reports, model or reporting code documentation, business requirements, monitoring reports and related code, and procedures.
Basic Qualifications
Bachelor’s degree (MA/MS/PhD strongly preferred) and eight or more years of relevant experience
Four or more years of experience leading a quantitative modeling team
Preferred Skills/Experience
Ph.D. in Economics, Applied Economics, Physics, Engineering, or Applied Mathematics
Deep understanding of broad economic systems and econometric techniques
Thorough knowledge of interest rates, forward curves, and economic connectivity to rates
Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using Python or similar statistical package
Advanced data compilation, programming skills and qualitative analysis skills
Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
Demonstrated independence, teamwork and leadership skills
Strong analytical, organizational, problem-solving, negotiation, and project management skills
Excellent interpersonal, verbal and written communication skills
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 (https://careers.usbank.com/global/en/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 (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) 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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .
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: $145,180.00 - $170,800.00 - $187,880.00
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.
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.
Job Description
Corporate Treasury is a division within the CFO group where part of their responsibility is to provide executive management with accurate, timely, and comprehensive forecasts of the balance sheet and net interest income (NII). Another critical Treasury function is the measurement and analysis of Interest Rate Risk (IRR) and Comprehensive Earnings at Risk. The latter evaluates the Bank’s earning sensitivity due to interest rate shocks with the corresponding economic shocks. This information provides the framework for the company to position its balance sheet consistent with its risk appetite and expectations for changes in interest rates and economic outlook. Corporate Treasury’s Quantitative Finance group supports these efforts by developing quantitative systems, models and methods that link the Bank’s balance sheet, net interest income, and noninterest income to the broader macroeconomic environment and its perturbations.
Quantitative Finance is looking for a leader in econometric modeling who will facilitate the development of proprietary models that connect the interest rate outlook to broader economic sensitivities. This role will partner with senior to executive leaders and oversees a team whose primary purpose is to create, validate, test, document, implement, and/or oversee usage of complex econometric models. The models may cover a variety of economic indicators; however, all models are used as part of a broader process supporting financial decision-making. Specific results focus on documenting the creation and/or testing of advanced statistical models and communicating such models to stakeholders within the Bank. Responsible for oversight of a team whose deliverables include the creation of model development and/or validation documentation such as: presentations, written reports, model or reporting code documentation, business requirements, monitoring reports and related code, and procedures.
Basic Qualifications
Bachelor’s degree (MA/MS/PhD strongly preferred) and eight or more years of relevant experience
Four or more years of experience leading a quantitative modeling team
Preferred Skills/Experience
Ph.D. in Economics, Applied Economics, Physics, Engineering, or Applied Mathematics
Deep understanding of broad economic systems and econometric techniques
Thorough knowledge of interest rates, forward curves, and economic connectivity to rates
Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using Python or similar statistical package
Advanced data compilation, programming skills and qualitative analysis skills
Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
Demonstrated independence, teamwork and leadership skills
Strong analytical, organizational, problem-solving, negotiation, and project management skills
Excellent interpersonal, verbal and written communication skills
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 (https://careers.usbank.com/global/en/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 (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) 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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .
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: $145,180.00 - $170,800.00 - $187,880.00
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.
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.