U.S. Bank Fair and Responsible Banking Program Specialist in Sioux Falls, South Dakota

This position is in U.S. Bancorp’s Fair and Responsible Banking Division (FRBD) and supports the Company’s Fair and Responsible Banking Program (Program). The Fair and Responsible Banking Specialist (Specialist) provides subject matter expertise on fair and responsible banking laws, including the Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Unfair, Deceptive or Abusive Acts or Practices (UDAAP) and related regulatory guidance. The Specialist works directly with business lines and other corporate functions to help ensure compliance with applicable laws and regulations and identify, assess, and manage fair and responsible banking risk associated with the products and services offered by the Company.

ESSENTIAL FUNCTIONS:

  1. Consult with and advise business lines and other stakeholders on fair and responsible banking risks and controls through established review processes and procedures.

  2. Review internal and external materials with compliance impact to identify and assess risk, and ensure appropriate risk mitigation prior to production. Materials include customer-facing information (e.g. marketing) and employee-facing information (e.g. procedures and training).

  3. Review business changes (e.g. new or modified product or service) to identify and assess risks, and ensure appropriate risk mitigation is in place prior to implementation.

  4. Review business line incentive compensation plans for potential risks that can arise from the design and operation of the plans, and ensure risk is sufficiently mitigated prior to implementation.

  5. Review corporate credit policies for potential risk and work with Credit Risk Management to make necessary changes.

  6. Advise, guide, and partner with business lines as well as second line of defense personnel in the development and implementation of fair and responsible banking controls.

  7. Assess the quality of business line fair and responsible banking risk management.

  8. Identify, draft and present issues that require corrective action. Provide guidance and oversight of resolution plans that address identified issues.

  9. Participate in regulatory change management assessments and associated business change projects.

  10. Participate in or review the results of monitoring and testing activities performed by business lines and second line of defense functions, as well as audit and regulatory examinations.

  11. Stay current on business line products, services and processes, distribution channels, geographies, organizational structures and related regulatory requirements.

  12. Maintain appropriate knowledge of and stay current on fair and responsible banking laws and regulations, guidance and other legal and regulatory developments, and how they apply to the Company and assigned business lines.

  13. Responsible for training lower-level or new staff.

Qualifications:

Basic Qualifications

  • Bachelor's degree, or equivalent work experience

  • 10 or more years of experience in an applicable risk management environment

Preferred Skills/Experience

  • Bachelor’s degree and at least 10 years applicable experience in bank compliance risk management, consumer protection, legal, audit, or regulatory examination

  • Expert understanding of fair and responsible banking laws and regulations, including ECOA, FHA, and UDAAP, and related federal bank agency standards, regulatory guidance, litigation and enforcement actions

  • Excellent verbal, written and analytical skills, including the ability to communicate risks and controls clearly and concisely, and present to management

  • Excellent relationship management and negotiation skills

  • Ability to lead meetings and make presentations

  • Experience providing guidance on complex regulatory matters, enforcing requirements, negotiating desired outcomes, and reporting issues and trends to management

  • Advanced understanding of consumer financial products, services, systems and associated risks/controls

  • Detail oriented and organized

  • Ability to work independently and with employees and management in remote locations or multiple time zones

  • Proficient computer skills, especially Microsoft Office applications, and experience with Archer eGRC platform or other Governance, Risk, and Compliance systems

  • Professional Certification, such as Certified Regulatory Compliance Manager (CRCM), Juris Doctor (JD) or certified audit professional with advanced fair and responsible banking experience

  • Knowledge of applicable U.S. Bancorp policies, procedures, products and business lines

  • Experience with large complex banking organizations and associated product/service offerings

Job: Risk/Compliance/QC/Audit/Fraud

Primary Location: Minnesota-MN-Minneapolis

Shift: 1st - Daytime

Average Hours Per Week: 40

Requisition ID: 190000234

Other Locations: United States

U.S. Bank is an Equal Opportunity Employer committed to creating a diverse workforce.

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.