Senior Audit Manager - Wealth Management, Capital Markets and Commercial Compliance

Corporate Audit Services Senior Audit Manager

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Job Description

The Corporate Audit Services (CAS) Senior Audit Manager Wealth, Commercial, Capital Markets is a senior level management position that supports the Regulatory Compliance Audit Director / Senior Audit Director of the Risk Management and Compliance audit team. This role supports the Audit Director / Senior Audit Director, in providing the Audit Committee and senior management with independent assurance and advisory services designed to evaluate and improve the effectiveness of risk management, control, and governance processes of U.S. Bancorp (USB), affiliates, wholly owned subsidiaries and entities where USB owns a majority (controlling) interest.

The Senior Audit Manager is responsible for providing strategic direction, leadership, and coordination of compliance risk coverage for USB's Wealth, Commercial, Capital Markets business lines with demonstrated expertise and the ability to effectively communicate requirements of laws and regulations to non-compliance business partners and key stakeholders in the following areas : Wealth Management laws and regulations (e.g., Broker Dealer, Trust Services, Wealth Management, Securities and Exchange Commission (SEC) Regulations, Financial Industry Regulatory Authority (FINRA) Regulations, 12CFR9 Regulation, Investments, Wealth Operations, Private Banking) Capital Market laws and regulations (e.g., Broker Dealer, Trust Services, Wealth Management, SEC Regulations, FINRA Regulations, 12CFR9 Regulation, Investments, Wealth Operations, Private Banking) Laws and regulations applicable to Corporate and Commercial Banking business lines

The Senior Audit Manager also has strong knowledge of Compliance Management Systems.

Global Corporate Compliance (GCC) is responsible for developing, maintaining, and tracking the implementation of GCC Policies, Procedures, and Country Requirements. GCC oversees USB's compliance with applicable laws and regulations through execution of the compliance risk management framework across the first and second lines of defense, including : risk identification, change management, risk assessments, management reporting, and provide consultation and credible challenge to support the development of effective business line control environments subject to compliance risk.

We are seeking an experienced senior business audit executive that has strong knowledge of audit, risk management, and regulatory expectations (e.g., Office of the Comptroller of Currency's Heightened Standards and Federal Reserve Board's Large Financial Institution Rating System) at large financial institutions. This individual will have skills and experience to effectively manage deliverables, own and lead the compliance risk management audit plan, provide oversight of audit activities over the risk management activities mentioned above, and deliver updates to operating committees, senior management and key stakeholders.

Primary Responsibilities

• Coordinating with the Audit Director / Senior Audit Director in developing and driving the execution and coordination of the risk-based Annual Audit Plan for Wealth, Commercial, Capital Markets. Includes identifying auditable entities and assessing compliance risk across all auditable entities; determining appropriate audit cycles and audit strategy for the compliance risk framework; and determining necessary audit resources and estimated expenses associated with completion of a forward looking 1218-month audit plan. Maintaining an effective Continuous Monitoring Program which monitors key risks within auditable entities across multiple business lines and identifies any key emerging / evolving risks by routinely interfacing with independent peer banks on regulatory trends and industry events. Also includes monitoring adequacy of CAS resources and adjusting the audit plan when appropriate and communicating key results of Continuous Monitoring to applicable members across CAS.
• Lead a team of managers and audit professionals and is expected to recruit, hire, and develop assigned personnel in accordance with U.S. Bank Human Resources Policies and Corporate Audit Services Policies, Standards and Guidelines. These duties include active participation in recruiting activities; establishing and managing development plans for assigned personnel; and providing quarterly performance feedback and annual performance evaluations for assigned personnel. Also includes addressing performance problems promptly.
• Supervise audit managers in the completion of audit engagements, ensuring the highest quality of work is delivered timely. Supervision includes : Coordinating with senior audit managers and managers to plan audit engagements. Ensuring reviews are performed to ensure audit engagement work contains relevant facts to support audit scope and conclusions and adhere to internal audit policies and procedures. Reviewing audit reports which communicate audit opinions and audit issues in a timely, clear, and concise manner. Monitoring progress of audit engagements against plan and schedule and working with senior audit managers / audit managers to make necessary adjustments.
• Supporting the Audit Director / Senior Audit Director by creating and ensuring board, committee and other stakeholders reporting for completeness, consistency with other internal audit material and accuracy of the most up-to-date information. Overseeing ongoing progress and remediation by management for all outstanding operations issues across the entire enterprise and supporting other Senior Audit Directors / Audit Directors. Presenting as needed at Sr. Operating Committee and Sub-Committee meetings.
• Develop and deepen relationships through regular interactions with key internal and external stakeholders that include but are not limited to : senior management; internal control partners; regulatory agencies; external auditors; external subject matter experts; and industry peers. This includes regular participation within industry peer groups.
• Collaborating across the three lines of defense regarding business processes, risks, and controls. Coordinating audit activities by integrating other internal audit subject matter teams (e.g., Business Lines, Technology, Anti-Money Laundering, Model, Risk Management, Data, etc.) to ensure appropriate and efficient coverage of the business products, services, and processes. Managing the team's workload to assist other audit teams when resources are needed for areas of higher risk.
• Drive automation and data analytics opportunities within their portfolio.
• Performing other duties as requested by Audit Director / Senior Audit Director.

Preferred Skills / Experience

Location Expectations

This role requires working from a U.S. Bank location three (3) or more days per week.