U.S. Bank Fair and Responsible Banking Risk Assessment Professional in Knoxville, Tennessee
This position is in the U.S. Bancorp Corporate Compliance Fair and Responsible Banking Division (FRBD) and supports the Bank’s Fair and Responsible Banking Program to facilitate execution of a comprehensive risk assessment process. The Risk Assessment Compliance Professional should have an advanced level understanding of the following: Section 5 of the Federal Trade Commission Act (FTC Act) prohibiting Unfair or Deceptive Acts or Practices (“UDAP”); Sections 1031 and 1036 of the Dodd-Frank Act prohibiting Unfair, Deceptive or Abusive Acts or Practices (“UDAAP”); Fair Lending laws, such as Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA) and Home Mortgage Disclosure Act (HMDA); and related consumer protection laws and regulatory guidance as it applies to lending and non-lending bank products and services. The position typically interacts directly with senior managers and other key fair and responsible banking stakeholders of various levels within the organization, including Corporate Compliance, Legal and Business Line Chief Risk Officer (CRO) groups and requires an advanced level of presentation, relationship building, negotiation and writing skills. This position reports to the Risk Assessment Manager and works closely with other FRBD colleagues and business line risk personnel.
Perform on a periodic basis, Fair Lending and Responsible Banking (i.e. UDAAP/UDAP) risk assessments of lending and non-lending bank products and services, in the context of industry and regulatory expectations. Assessments are structured by product and provide a comprehensive enterprise and business line view of risk for the Bank by reviewing inherent risk and control effectiveness across the entire product life cycle and all business lines that conduct activities related to that product.
Ensure timely and accurate completion of the risk assessment process within the Bank’s Archer eGRC platform. Support business lines with questions regarding the risk assessment process, applications and overall expectations.
Conduct facilitated review sessions with business lines and credibly challenge assessment responses and documentation to ensure Fair Lending and Responsible Banking risks are effectively managed.
Write and publish reports that summarize inherent risk, control effectiveness and residual risk, including development of risk mitigation plans to address identified control deficiencies.
Conduct review of control deficiencies with business lines and assist with processes to formally cite issues in accordance with issue management policies and procedures. Provide guidance as needed to business lines on corrective action and development of resolution plans.
Assist with design, development, and maintenance of review procedures, tools, forms, work papers, and reports.
Keep abreast of UDAAP/UDAP and fair lending related laws and regulations, guidance and other legal and regulatory developments
Bachelor's degree, or equivalent work experience
Seven to ten years of applicable experience
Excellent organizational skills and demonstrated ability to manage a large volume of information
Ability to work independently with minimal guidance
Solid understanding of financial products and services
Excellent verbal, written and analytical skills
Advanced knowledge of fair lending and responsible banking laws, regulations, and oversight, including ECOA, FHA, HMDA, UDAAP/UDAP and related regulatory agency (e.g. CFPB, OCC) examination standards, applicable regulatory guidance, and UDAAP/UDAP and Fair Lending litigation and enforcement actions
Professional Certification, such as Certified Regulatory Compliance Manager (CRCM), Juris Doctor (JD) or certified audit professional with advanced fair lending, consumer protection, or bank regulatory experience
Knowledge of other consumer protection laws and regulations, including TILA, FCRA, FDCPA, SCRA, TCPA, TISA, and RESPA
Experience in counseling clients or business partners in 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
Knowledge of U.S. Bancorp operations, policies and procedures, and the ability to review and revise policies and procedures as necessary
Ability to work independently and with team members and management in remote locations or multiple time zones.
Primary Location: North Carolina-NC-Charlotte
Shift: 1st - Daytime
Average Hours Per Week: 40
Requisition ID: 190007032
Other Locations: United States, Minnesota-MN-Minneapolis
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.