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U.S. Bank Payments Risk Management in Minneapolis, Minnesota

As part of U.S. Bancorp’s Corporate Risk Management and Compliance Division, the Operational Risk Management (ORM) Department assesses enterprise-wide operational risk levels and trends, determines the effectiveness of operational risk controls, and works with Business Lines (BL) on opportunities to mitigate operational risk.

The Payments Risk Management position is situated in the Enterprise Fraud Risk Management Division within ORM, a Second Line of Defense (SLoD) organization. The individual who fills this position will work with partners throughout the SLoD, business line risk managers, and payments operations managers to identify payment processing risks; assess risk management practices to identify opportunities to strengthen controls; advise business lines on risk mitigation activities and control enhancements; and oversee business line risk management practices and remediation actions.

The individual who fills this role will be responsible for the following activities:

  • Work with BL risk and operations managers to gain an understanding of end-to-end payment processes, and applications used to facilitate payments.

  • Partner with SLoD risk managers and BLs to develop and facilitate payment process-based risk and control assessments.

  • Research rules, regulations, laws, and guidance applicable to specific payment processes to identify relevant authority and develop enterprise-level payments policies establishing requirements for managing operational payment processing risks.

  • Oversee business line gap assessments against payments policy requirements and remediation actions to close identified gaps.

  • Work with source system and 2LoD risk owners to develop aggregated, enterprise-wide payments risk reporting to executive management and regulatory agencies.

  • Perform root cause analysis of payments-related issues and recommend actions for closing identified control gaps.

  • Oversee business line actions to remediate regulatory and internal audit issues.


Basic Qualifications

  • Bachelor's degree, or equivalent work experience

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

  • Applicable certifications

Preferred Skills/Experience

  • Experience in, or understanding of, developing and implementing policy; risk reporting and trend analysis; risk and control assessment; gap assessment; and root cause analysis.

  • Experience in operational risk management and managing payment processing risks in a financial environment.

  • Awareness and understanding of rules, regulations, and laws applicable to various payment systems and related operational procedures.

  • Ability to work independently, and within a team, to manage workstreams and processes with minimal oversight.

  • Experience collaborating and communicating with senior management.

  • Experience communicating with regulatory agencies and responding to regulatory and internal audit requests.

  • Ability to translate payment processing risk and remediation information into business terminology.

  • Proficient computer skills, especially Microsoft Word, Excel, Access, Visio and PowerPoint.

  • Experience with Archer or similar governance, risk, and compliance tool.

  • Excellent writing, communication, and presentation skills.

  • Strong analytical, problem-solving, and negotiation skills.

  • Experience mapping business processes.

Job: Risk/Compliance/QC/Audit/Fraud

Primary Location: Minnesota-MN-Minneapolis

Shift: 1st - Daytime

Average Hours Per Week: 40

Requisition ID: 190030260

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.