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Contract Model Risk Governance Jobs in Minnesota

Sezzle

Chief Risk Officer

Minneapolis, MN · On-site

Chief Risk Officer (CRO) Organization: Sezzle Bank ILC Location: Utah, USA Employment Type ... Develop and maintain a model governance framework that includes independent model validation ...

Sezzle

Chief Risk Officer

Minneapolis, MN · On-site

Chief Risk Officer (CRO) Organization: Sezzle Bank ILC Location: Utah, USA Employment Type ... Develop and maintain a model governance framework that includes independent model validation ...

US Bank

AI Risk Program Manager

Minneapolis, MN

Partner with crossfunctional risk teams to ensure alignment with Model Risk Management, Third Party Risk Management, Enterprise Data Governance, and other enterprise policies and programs to drive ...

U.S. Bank

AI Risk Program Manager

Minneapolis, MN · On-site

Partner with cross-functional risk teams to ensure alignment with Model Risk Management, Third Party Risk Management, Enterprise Data Governance, and other enterprise policies and programs to drive ...

U.S. Bank

Audit Project Manager - Model Risk

Minneapolis, MN · On-site

$108K - $142K/yr

This individual will also perform testing in model governance audits and be involved in other ... Apply risk-based judgment to audit planning and execution decisions, including determining when ...

US Bank

Audit Project Manager - Model Risk

Minneapolis, MN

$108K - $142K/yr

This individual will also perform testing in model governance audits and be involved in other ... Considerable experience taking a risk-based, solutions-oriented approach to audit execution and ...

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Contract Model Risk Governance information

What are some common challenges faced by professionals in Contract Model Risk Governance roles, and how can they be addressed?

Professionals in Contract Model Risk Governance often encounter challenges such as keeping up with evolving regulatory requirements, ensuring thorough model documentation, and effectively communicating risk findings to both technical and non-technical stakeholders. Balancing the need for detailed model validation with tight project timelines can also be demanding. To address these challenges, it's important to foster strong cross-functional collaboration, stay updated on industry best practices, and develop clear communication strategies for reporting risk and compliance issues.

What is the difference between Contract Model Risk Governance vs Contract Model Validation?

AspectContract Model Risk GovernanceContract Model Validation
Primary FocusOverseeing and managing risks associated with contract models, ensuring compliance and risk mitigationAssessing and testing contract models to ensure accuracy and reliability
ResponsibilitiesEstablishing policies, monitoring risk exposure, and implementing controlsPerforming independent reviews, testing model assumptions, and validating outputs
Work EnvironmentRisk management teams, compliance departments, regulatory interactionsQuantitative teams, model validation units, audit functions

While Contract Model Risk Governance focuses on managing and overseeing risks related to contract models, Contract Model Validation involves the technical assessment and testing of those models to ensure their accuracy and reliability. Both roles are essential in a comprehensive risk management framework within financial institutions and industries relying on contract models.

What are the key skills and qualifications needed to thrive in Contract Model Risk Governance, and why are they important?

To excel in Contract Model Risk Governance, you need a strong background in risk management, quantitative analysis, and familiarity with regulatory requirements, often supported by a degree in finance, mathematics, or a related field. Proficiency with risk management software, model validation tools, and knowledge of frameworks such as SR 11-7 is typically required. Attention to detail, critical thinking, and effective communication are crucial soft skills for evaluating model risk and collaborating with stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and support sound decision-making within financial institutions.

What is Contract Model Risk Governance?

Contract Model Risk Governance refers to the framework and processes used by organizations to identify, assess, monitor, and mitigate risks associated with the use of models in contracts or contractual obligations. This role ensures that the use of quantitative models in financial and business contracts complies with regulatory standards and internal policies, reducing the likelihood of errors, misinterpretations, or financial losses. Professionals in this field often oversee model validation, implementation, and documentation, and work closely with compliance, risk, and legal teams. Effective governance helps maintain model integrity and supports sound decision-making across the organization.
What are the most commonly searched types of Model Risk Governance jobs in Minnesota? The most popular types of Model Risk Governance jobs in Minnesota are:
What are popular job titles related to Contract Model Risk Governance jobs in Minnesota? For Contract Model Risk Governance jobs in Minnesota, the most frequently searched job titles are:
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What cities in Minnesota are hiring for Contract Model Risk Governance jobs? Cities in Minnesota with the most Contract Model Risk Governance job openings:
Contract Model Risk Governance jobs near you
Non-Quant Market Risk Governance & Volcker Program Analyst

Non-Quant Market Risk Governance & Volcker Program Analyst

US Bank

Minneapolis, MN

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 28 days ago

U.S. Bank rating

8.2

Company rating: 8.2 out of 10

Based on 345 frontline employees who took The Breakroom Quiz

38th of 141 rated banks

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

Market Risk Management operates within the second line of defense and reports to the U.S. Bancorp Chief Risk Officer. The function provides independent oversight, governance, monitoring, and control of trading market risk across Capital Markets, Mortgage, Balance Sheet, and the Volcker Program Office. The team ensures market risk is managed in alignment with regulatory expectations, internal policies, and the company's risk appetite.

The Market Risk Governance & Volcker Analyst is a key contributor to the Market Risk Management team, supporting governance, program execution, regulatory engagement, and risk reporting activities. This role partners closely with senior team members and cross-functional stakeholders to help maintain a strong and effective market risk governance framework.

This individual will support day-to-day governance processes, assist in coordination across functions, and contribute to strategic and regulatory initiatives, including integration work related to BTIG and the ongoing enhancement of market risk oversight processes.

Job Function & Key Responsibilities

  • Support Market Risk Governance and Volcker Program activities, contributing to the execution of a strong second line governance framework.

  • Partner with Market Risk team members to assist with governance, reporting, and cross-functional coordination.

  • Assist in review and challenge processes related to Market Risk and Volcker Program activities, including:

    • limit monitoring and reporting

    • limit overage tracking and escalation support

    • issues management and remediation tracking

    • Enterprise Compliance Risk Assessment (ECRA)

    • Risk and Control Self-Assessments (RCSA)

    • model/tool governance coordination

  • Support maintenance and enhancement of governance processes, policies, procedures, and reporting routines.

  • Assist in preparation and coordination of materials for senior management committees and governance forums.

  • Participate in working groups and cross-functional initiatives, helping to evaluate market risk impacts.

  • Build working relationships with Trading, Treasury, Compliance, Operations, Finance, Technology, Model Risk, and Audit teams.

  • Support regulatory exams, internal reviews, and audit engagements by gathering information and assisting with responses.

  • Help identify process improvement opportunities and support implementation of solutions.

  • Contribute to enterprise and business-line initiatives impacting Market Risk, including new activities and regulatory changes.

  • Support BTIG integration efforts, including governance processes, reporting, and coordination activities.

  • Assist with project workstreams and support team priorities as needed.

Basic Qualifications

- Bachelor's degree, or equivalent work experience
- Typically more than six years of applicable experience

Preferred Skills/Experience

  • Degree in Accounting, Finance, Economics, Business, or related field

  • Experience in market risk, risk management, capital markets, or trading support

  • Basic understanding of market risk frameworks and governance practices

  • Familiarity with capital markets products (fixed income, derivatives, FX)

  • Strong organizational and analytical skills

  • Ability to work in a team environment and support multiple priorities

  • Effective communication and stakeholder coordination skills

  • Experience with regulatory, audit, or control functions is a plus

  • Exposure to Volcker Rule, governance frameworks, or risk/control processes preferred

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 ourdisability 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:

  • 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 theE-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: $117,725.00 - $138,500.00

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.

What U.S. Bank employees say

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About U.S. Bank

Sourced by ZipRecruiter

U.S. Bank is a reputable and established financial institution that plays a significant role in the banking sector. With a history spanning over 150 years, U.S. Bank has built a strong foundation of trust and reliability. As a comprehensive bank, they offer a wide array of financial products and services to cater to the diverse needs of their customers, including individuals, businesses, and communities. Customer satisfaction is of utmost importance to U.S. Bank. They prioritize delivering exceptional service and fostering long-term relationships with their clients. Through their extensive network of branches and advanced digital banking platforms, U.S. Bank ensures convenient access to their services, empowering customers to manage their finances efficiently and securely.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

Year founded

1863

Social media

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