Us Bank
Economist
Us Bank, Minneapolis, Minnesota, United States, 55400
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
U.S. Bank is seeking an Economist to be part of the Economic Scenarios & Analytics Team! This group is responsible for creating, documenting, and maintaining financial and economic scenarios under various economic conditions and assumptions. The economic scenarios and macroeconomic variable forecasts are key drivers of U.S. Bank’s financial planning processes, including the CECL allowance process, baseline financial planning, and stress testing and capital adequacy analysis processes.Essential FunctionsResearch historical macroeconomic trends in expansionary and recessionary periods to determine cyclical trends, economic expectations, and reasonability of forecasts.Clearly explain economic scenario narratives, variances between forecasts and reasonability of assumptions.Create, enhance, and maintain processes and controls used to capture, document, and distribute scenarios in compliance with bank and regulatory policies.Manage the development, documentation, and distribution of scenarios for CECL scenarios including reporting and presentation data.Provide strategic direction and guidance to senior management and operating committees on economic forecasts under various conditions and uses.Ensure models used for CECL are validated in compliance with internal policies and procedures.Address independent review issues in compliance with Company policies and procedures.Build and maintain relationships with industry peers and regulators on evolving and best practice.Location ExpectationsThe 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.Basic Qualifications- Bachelor’s degree in a quantitative field, and eight or more years of relevant experience OR- MA/MS in a quantitative field, and five or more years of related experience OR- PhD in a quantitative field, and four or more years of related experience.Preferred Skills/ExperienceThorough knowledge of various regression techniques, parametric and non-parametric algorithms, time series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package.Thorough data compilation, programming skills and qualitative analysis skills.Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches.Advanced understanding of applicable regulatory rules, guidance, or supervisory letters.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.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 LawU.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
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EEO poster.E-VerifyU.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 .
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U.S. Bank is seeking an Economist to be part of the Economic Scenarios & Analytics Team! This group is responsible for creating, documenting, and maintaining financial and economic scenarios under various economic conditions and assumptions. The economic scenarios and macroeconomic variable forecasts are key drivers of U.S. Bank’s financial planning processes, including the CECL allowance process, baseline financial planning, and stress testing and capital adequacy analysis processes.Essential FunctionsResearch historical macroeconomic trends in expansionary and recessionary periods to determine cyclical trends, economic expectations, and reasonability of forecasts.Clearly explain economic scenario narratives, variances between forecasts and reasonability of assumptions.Create, enhance, and maintain processes and controls used to capture, document, and distribute scenarios in compliance with bank and regulatory policies.Manage the development, documentation, and distribution of scenarios for CECL scenarios including reporting and presentation data.Provide strategic direction and guidance to senior management and operating committees on economic forecasts under various conditions and uses.Ensure models used for CECL are validated in compliance with internal policies and procedures.Address independent review issues in compliance with Company policies and procedures.Build and maintain relationships with industry peers and regulators on evolving and best practice.Location ExpectationsThe 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.Basic Qualifications- Bachelor’s degree in a quantitative field, and eight or more years of relevant experience OR- MA/MS in a quantitative field, and five or more years of related experience OR- PhD in a quantitative field, and four or more years of related experience.Preferred Skills/ExperienceThorough knowledge of various regression techniques, parametric and non-parametric algorithms, time series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package.Thorough data compilation, programming skills and qualitative analysis skills.Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches.Advanced understanding of applicable regulatory rules, guidance, or supervisory letters.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.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 LawU.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-VerifyU.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 .
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