This position is in U.S. Bancorp's Corporate Compliance - Fair and Responsible Banking Division (FRBD). The FRBD is responsible for U.S Bancorp's fair and responsible banking (FaRB) risk management framework and enterprise-wide implementation of the U.S. Bancorp Fair and Responsible Banking Program Policy. This position reports to the Risk Assessment Manager on the FRBD Risk Assessment Team.
As the FaRB Control Oversight Manager you will play a key role in facilitating execution of two FRBD processes: Business Line Control Oversight and Control Gap Assessments. You will partner with key internal stakeholder groups to facilitate activities in furtherance of risk and control identification, documentation, assessment, monitoring/testing, and reporting in alignment with the U.S. Bancorp Business Line Control Environment Policy and Business Line Quality Assurance Policy. Key stakeholders include senior managers, Business Line Chief Risk Officer (CRO) groups, Operational Risk Management (ORM), Corporate Compliance, other FRBD teams, and regulators as needed.
The FaRB Control Oversight Manager will also play a key role in supporting timely resolution of control deficiencies identified by the Risk Assessment Team and may be engaged to support execution of certain product risk assessments.
The FaRB Control Oversight Manager must have the aptitude to quickly establish a strong working knowledge of the FRBD Risk Assessment process to support execution of business line control documentation oversight and control gap assessments. Specific job functions include the following:
• Lead initiative to plan, develop and execute an enterprise-wide FaRB Business Line Control Documentation Project.
• Establish a process for oversight and monitoring of ongoing control documentation and reporting to ensure compliance with enterprise policies.
• Serve as liaison between Business Lines, FRBD and other corporate functions in furtherance of implementation of the control oversight framework and requirements.
• Partner with Business Line Quality Assurance Functions on annual Quality Assurance plan development, review, approval and post-execution reporting and analysis.
• Assist with development and maintenance of technology enhancements related to the FaRB Risk Assessment eGRC solutions in partnership with internal stakeholders.
• Stay abreast of UDAAP/UDAP and Fair Lending related laws and regulations, guidance, and other legal and regulatory developments. Establish a strong working knowledge of FRBD control requirements and expectations.
• Support the FRBD's regulatory change/industry development monitoring and control change management process by conducting periodic control gap assessments.
• Communicate new and updated FRBD control requirements to Business Line partners and collaborate with them on how to best implement the control requirements based on the Business Lines' activities.
• Employ constructive credible challenge processes to Business Line responses and documentation to ensure controls are in place and designed effectively.
• Identify risks, communicate and vet control deficiencies with Business Lines, draft issues in accordance with issue management policies and procedures, and consult and provide guidance to Business Lines on developing issue risk mitigation and resolution plans
• Collaborate with other FRBD teams and Business Lines during the FRBD issue management process to ensure corrective action is implemented, and issues are managed appropriately within the line of business.
• Assist with the design, development, and maintenance of review procedures, tools, forms, work papers, and reports.
• Support regulatory examination and corporate audit processes as necessary.
- Bachelor's degree, or equivalent work experience
- Ten or more years of experience in an applicable risk management environment
- Applicable certifications
• Knowledge of fair lending and responsible banking laws, regulations, and oversight, including ECOA, FHA, UDAAP/UDAP and related regulatory agency (e.g. CFPB, OCC, FDIC, Federal Reserve) examination standards, applicable regulatory guidance, and UDAAP/UDAP and Fair Lending litigation and enforcement actions.
• Experience with development and documentation of business controls.
• Excellent project management and organizational skills and demonstrated ability to process large volumes of information.
• Ability to work independently with minimal guidance.
• Solid understanding of financial products and services.
• Excellent verbal, written and analytical skills.
• Solid understanding of U.S. Bancorp's Business Line Control Environment Policy (BLCE) and Business Line Quality Assurance Policy (BLQA)
• Experience in counseling clients or business partners regarding complex regulatory matters, enforcing requirements, working with auditors and examiners, negotiating desired outcomes, executing project and implementation plans, and reporting issues and trends to management.
• Ability to work with team members and management in remote locations or multiple time zones
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