Senior Quantitative Analyst - Rates

 

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

The Global Capital Markets group at U.S. Bank is undergoing a strategic buildout initiative to strengthen front-office quantitative capabilities and evolve toward a more technology-enabled, risk-driven trading platform.

As part of this effort, a front-office quantitative analytics team is being established to develop and industrialize core product analytics, market data frameworks, and rate modeling capabilities — enabling consistent pricing, risk measurement, and execution across the FICC platform.

U.S. Bank is seeking candidates for the role of Senior Quantitative Analyst. Successful candidates will join a team responsible for building and implementing production-grade pricing and risk models for interest rate and FX derivatives, while integrating these capabilities into a scalable, real-time analytics and risk platform.

The role operates as a desk-aligned quant supporting Rates and FX trading, partnering closely with traders, risk oversight, technology, and model governance functions. The focus is on delivering robust, reusable modeling and data capabilities that support intraday decision-making and platform scalability. Strong communication skills are essential.

Scope & Accountability

• Owns development and implementation of product analytics, market data, and rate modeling frameworks across Rates and FX derivatives

• Accountable for ensuring models are integrated into a real-time pricing and risk platform, with consistency across Trading, Risk, and Finance

• Ensures modeling frameworks are scalable, reusable, and not tied to desk-specific or legacy workflows

• Supports development of core curve, pricing, and risk infrastructure used across multiple products and asset classes

• Partners with Trading, Risk, Technology, and Model Validation to ensure models meet both commercial and regulatory expectations

Key Responsibilities

• Take leadership responsibility over intraday support of Rates and FX trading desks, including pricing, risk analysis, and model-driven decision support

• Lead development and maintenance of:

  • USD and non-USD yield curves

  • Market data inputs and term structure frameworks

  • Pricing and risk model integration across products

• Develop quantitative models and frameworks for:

  • Interest rate derivatives (linear and optionality products)

  • FX derivatives

  • Exchange-traded futures and options

• Design and enhance curve construction methodologies, including:

  • Single-curve and multi-curve frameworks

  • Consistent treatment of market data across products

• Contribute to modeling of cross-asset and credit-linked products (e.g., TRS, CDS-linked structures, structured notes) where required

• Partner with Technology teams to:

  • Integrate models into production pricing, risk, and trading systems

  • Ensure performance, scalability, and reliability

  • Reduce reliance on spreadsheet-based or manual processes

• Collaborate with Model Risk and Risk Oversight to:

  • Support model validation, approval, and monitoring

  • Ensure models meet internal governance and regulatory expectations

• Provide leadership, guidance, and mentoring to junior team members

Decision Rights

• Technical authority over model design, curve construction methodologies, and market data frameworks

• Input into prioritization of modeling and analytics roadmap across Rates and FX

• Approval of model readiness for production, subject to model validation and technology governance processes

• Escalation point for pricing discrepancies, model performance issues, and risk inconsistencies

Basic Qualifications

• Ph.D. or advanced degree in Mathematics, Physics, Engineering, Computer Science, or related quantitative discipline

• 10+ years of front-office quantitative experience in Rates and/or FX derivatives

• Strong expertise in:

  • Interest rate modeling

  • Curve construction and calibration

  • Market data and term structure modeling

• Strong programming skills in C++, Java, or equivalent, across:

  • Model development

  • Integration into production systems

  • Testing and validation

• Demonstrated experience supporting trading desks with direct P&L impact through quantitative models and analytics

Preferred Skills & Experience

• Experience building or contributing to real-time pricing and risk platforms, not just standalone models

• Strong understanding of fixed income market structure and product behavior

• Experience designing reusable analytics and data frameworks across products

• Solid knowledge of:

  • Stochastic calculus, SDE and PDE, and quantitative financial theories

  • Numerical analysis methods and optimization techniques

  • Data-driven modeling approaches where applicable

• Experience working in regulated environments, including:

  • Model governance and validation

  • Risk and finance alignment

  • Audit and regulatory interaction

• Proven ability to translate quantitative models into production systems used by trading desks

• Strong communication skills with the ability to engage traders, engineers, and control functions

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:

• 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 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: $143,905.00 - $169,300.00

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.