Financial Risk Review Manager

at  US Bank National Association

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

Financial Risk Review (FRR) Mortgage Banking team performs independent review of the market risk management for mortgage assets including Mortgage Servicing Rights and Mortgage Pipeline. The scope of review includes adherence to regulatory guidance, consistency with internal policies, and alignment with industry practices. Partners with Line of Business, other Risk/Compliance/Audit (RCA) professionals, and RCA Managers to review or oversee an effective risk management framework. Participates in projects and/or activities that ensure compliance with applicable regulations. Identifies gaps and inform solutions that minimize risks resulting from inadequate internal processes, approaches, governance and controls. Identifies, responds and/or escalates risks as appropriate.

Primary Responsibilities

• Evaluates the soundness of risk methodology and key assumptions, reasonableness of valuation and risk measurement, and appropriateness of risk limits.
• Partners with business line and second line risk management to promote an effective risk management framework.
• Keep abreast of industry best practices, regulatory guidance, financial market conditions and apply to the oversight of risk management activities
• Identifies gaps and inform solutions that minimize risks resulting from inadequate internal processes, approaches, governance and controls. Identifies, responds and/or escalates risks as appropriate.
• Develop independent review scope and approach and produce succinct written assessments of risk management activities and identify weaknesses and opportunities for strengthening practices.

Basic Qualifications

• Bachelor’s degree, or equivalent work experience
• Typically more than 10 years of applicable experience

Preferred Qualifications

• Bachelor’s degree or higher in Finance, Statistics, Financial Engineering or a related field
• Seven to ten years of applicable experience in banking, financial services or related industry
• Prior relevant experience with the market risk management in Mortgage Banking.
• Familiar with the valuation and risk analytics for mortgage servicing rights and derivatives. Prior experience with the prevailing risk systems (e.g. Polypaths, QRM) and risk models (prepayment, term structure, etc.).
• Proficient computer navigation skills using a variety of software packages, including Microsoft Office applications and word processing, spreadsheets, databases (Access Database, SQL Server), and presentations.
• Excellent presentation, interpersonal, written and verbal communication skills.
• Strong process facilitation, project management, and analytical skills
• Applicable professional certifications (e.g., CFA, FRM) preferred.

The 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.

Primary Responsibilities

• Evaluates the soundness of risk methodology and key assumptions, reasonableness of valuation and risk measurement, and appropriateness of risk limits.
• Partners with business line and second line risk management to promote an effective risk management framework.
• Keep abreast of industry best practices, regulatory guidance, financial market conditions and apply to the oversight of risk management activities
• Identifies gaps and inform solutions that minimize risks resulting from inadequate internal processes, approaches, governance and controls. Identifies, responds and/or escalates risks as appropriate.
• Develop independent review scope and approach and produce succinct written assessments of risk management activities and identify weaknesses and opportunities for strengthening practices

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 la