What are the responsibilities and job description for the Risk Manager, Credit Strategy position at U.S. Bank?
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
Credit Strategy Culture
Credit Strategy is a dynamic team within Credit Risk Management focused on optimizing the identification, quantification and mitigation of credit risk. The team oversees critical second line of defense risk management programs including USB’s risk limit framework, risk rating, policy exceptions, risk ID, credit concentration, stress testing, collateral audit and rapid response to emerging risk. Credit Strategy culture revolves around innovation, execution and collaboration across all 3 lines of defense and regulatory bodies. Talent seeking to join the Strategy team should possess an inquisitive and growth mindset, track record of taking initiative, and agility to problem solve in a team setting.
About The Role
In this role, you will serve as a thought leader, coordinator and implementation manager to help ensure we effectively meet or exceed the goals for key credit risk management strategy initiatives and programs.
You will help design, maintain, and improve our risk identification (Risk ID) program as well as other enterprise-level credit risk programs to identify, measure, monitor, and mitigate credit risks that horizontally impact various retail and wholesale credit portfolios, and assist with related ad hoc projects.
You will build and maintain relationships with peers in the Credit Strategy as well as the broader Credit Risk Management (CRM) organization and enterprise risk management (ERM) and line of business to achieve desired project goals or program outcomes. You will collaborate with the appropriate subject-matter experts in CRM and CS to gather and summarize insights and takeaways, and influence change management.
This is an influential individual contributor role that requires managing projects simultaneously, maintaining strong procedural documentation, and adjusting priorities as the business and regulatory environment evolves. While primarily focused on risk governance, data and analytical initiatives, the role may include opportunities to engage in other cross-risk function or cross-business line initiatives for credit risk management and climate risk matters.
Key Activities
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.
Benefits:
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):
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. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $133,365.00 - $156,900.00 - $172,590.00
U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.
Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.
Job Description
Credit Strategy Culture
Credit Strategy is a dynamic team within Credit Risk Management focused on optimizing the identification, quantification and mitigation of credit risk. The team oversees critical second line of defense risk management programs including USB’s risk limit framework, risk rating, policy exceptions, risk ID, credit concentration, stress testing, collateral audit and rapid response to emerging risk. Credit Strategy culture revolves around innovation, execution and collaboration across all 3 lines of defense and regulatory bodies. Talent seeking to join the Strategy team should possess an inquisitive and growth mindset, track record of taking initiative, and agility to problem solve in a team setting.
About The Role
In this role, you will serve as a thought leader, coordinator and implementation manager to help ensure we effectively meet or exceed the goals for key credit risk management strategy initiatives and programs.
You will help design, maintain, and improve our risk identification (Risk ID) program as well as other enterprise-level credit risk programs to identify, measure, monitor, and mitigate credit risks that horizontally impact various retail and wholesale credit portfolios, and assist with related ad hoc projects.
You will build and maintain relationships with peers in the Credit Strategy as well as the broader Credit Risk Management (CRM) organization and enterprise risk management (ERM) and line of business to achieve desired project goals or program outcomes. You will collaborate with the appropriate subject-matter experts in CRM and CS to gather and summarize insights and takeaways, and influence change management.
This is an influential individual contributor role that requires managing projects simultaneously, maintaining strong procedural documentation, and adjusting priorities as the business and regulatory environment evolves. While primarily focused on risk governance, data and analytical initiatives, the role may include opportunities to engage in other cross-risk function or cross-business line initiatives for credit risk management and climate risk matters.
Key Activities
- Serve as the program manager for the Credit Risk Management Risk Identification (Risk ID) program. Identify and manage linkages between risk identification and risk appetite.
- Partner with credit portfolio risk managers and enterprise risk to monitor, analyze and communicate emerging risks.
- Develop relationships with key partners throughout the organization and develop sufficient familiarity with various credit risk processes, reports and tools to ensure that the right SMEs are appropriately ‘matched’ and mapped into business challenges and issues as they arise.
- Coordinate and lead annual reviews of key risk appetite metrics such as portfolio-level through-the-cycle loss rate expectations.
- Assist with developing and coordinating presentations for senior leadership to identify and assess emerging risks.
- Assist in developing requirements and executing projects that improve process efficiency.
- Bachelor's degree, or equivalent work experience
- Typically more than 10 years of applicable experience
- Bachelor’s degree in Business, Finance, Economics, Statistics or similar
- Understanding of basic credit risk management concepts, along with 5 years of 1st line and/or 2nd line experience related to underwriting and/or credit risk portfolio management preferred
- Broad understanding of credit risk processes and governance programs, and credit data at U.S. Bank, or another mid-sized or large banking institution
- Strong analytical skills in Excel and familiarity with using Business Intelligence tools, e.g., Power BI. Basic level of coding skills (SQL/Python) preferred but not critical
- Experience guiding and executing cross-functional projects and influencing change
- Strong verbal and written communication skills, ability to understand and summarize complex information into ‘big’ picture messages
- Interest and awareness of external environment and economic events and their potential impacts to credit risk
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.
Benefits:
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 law
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. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $133,365.00 - $156,900.00 - $172,590.00
U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.
Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.
Salary : $133,365 - $156,900
