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
Oversee the successful execution of the Model Risk Management (MRM) program through administration of regulatory and policy change management and issue management programs. This role is responsible for identifying gaps in model risk management policy compliance with regulatory and Bank policy changes. Additionally, this role will administer the issue management program for MRM in compliance with the Bank’s Issue Management policy and MRM’s Issues and Findings guidelines, procedures, and templates. This position will lead projects and/or activities that ensure compliance with applicable federal, state, and local laws and regulations and facilitate the identification of gaps.
Primary Responsibilities
Assist with ensuring model risk programs and processes that are effective, efficient and sustainable; seek process improvements by re-assessing compliance functions and approaches.
Comprehensively oversee effective implementation and execution of model risk issue and findings management policies and practices to ensure effectiveness and compliance with Bank policies.
Responsible for identifying, tracking and recommending response to supervisory enforcement actions, legislative updates, new/amended regulatory requirements, industry trend and banking operations. Includes conducting, actively participating in and/or managing associated necessary gap analysis projects relative to the current program. Informing management and impacted parties of the key changes.
Participate in, credibly challenge, and oversee various stages of issues (vetting, severity, resolution plans, etc.) and escalate when needed.
Regulatory Change Management (RCM) oversight, guidance and escalation. Includes conducting, actively participating in and/or managing associated necessary gap analysis projects relative to the current program. Informing management and impacted parties of the key changes.
Review and manage Bank Policy change for Model Risk Management, assessing the impact of policies to MRM and leading or management associated gap assessments. Informing management and impacted parties of the key changes.
Assist Program Director and other Risk function heads in the preparation and participation in audits, regulatory exams, and senior management requests.
Develop and produce internal management reporting for regulatory exam management and status update.
Serve as a valued business partner, trusted advisor and key contact for model risk partners in first and second line; exercise credible challenge and drive desired results.
Miscellaneous strategic initiative and project management support.
Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Typically more than eight years of applicable experience
Preferred Skills/Experience
- Considerable knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
- Considerable understanding of the business line’s operations, products/services, systems, and associated risks/controls
- Thorough knowledge of Risk/Compliance/Audit competencies
- Strong analytical, process facilitation and project management skills
- Effective presentation, interpersonal, written and verbal communication skills
- Effective relationship building and negotiation skills
- Proficient computer navigation skills using a variety of software packages, including Microsoft Office applications and word processing, spreadsheets, databases, and presentations
- Applicable professional certifications
NOTE: This 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.
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
EEO is the Law
U.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-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: $119,765.00 - $140,900.00 - $154,990.00
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.
Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
