Mortgage Modeling Lead (multiple positions) in Hackensack, NJ

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

Job Description 

U.S. Bank is seeking the position of Mortgage Modeling Lead (multiple positions) in Hackensack, NJ 

Essential Responsibilities: 

• Oversee mortgage modeling projects and lead all phases of large complex model development and validation.  

• Responsible for data aggregation, model design, selection, testing, documentation, validation, implementation, and execution.  

• Support mortgage servicing rights (MSR) valuation, market risk hedging and P&L attribution, and current coupon/primary mortgage rate generation.  

• Analyze mortgage prepayments and delinquencies.  

• Interact directly with senior modeling managers and present the results of modeling and data analysis to senior leadership.  

• Review mortgage model governance framework and keep abreast of applicable laws, regulations, financial services, and regulatory trends that affect the mortgage business. 

Basic Qualification 

Position requires a Master’s degree in Mathematics, Finance, Statistics, or a related field, and 3 years of experience as a Financial Quantitative Analyst, or a related occupation. 

Required Skills/Experience: 
Experience must include 3 years of experience with each of the following: 1. Statistical modeling, including time series model, rates model, stochastic model, and regression model. 2. Parametric and non-parametric algorithms. 3. Asset pricing, P&L attribution, and risk analysis on assets and hedges. 4. Mortgage servicing analytics and Mortgage Servicing Rights (MSR). 5. Python, R, Excel VBA, SQL, Polypaths, and Bloomberg. 

Teams may work from home and the office. 

Base pay range may vary if an offer is made for work in a different location. Pay Range: $100,547 – $173,100 (#LI-NDI #LI-DNI #LI-DNP #DE-DNP).  

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

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 the E-Verify program.

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).

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.