Fair and Responsible Banking Specialist - U.S. Bank
Minneapolis, MN
About the Job
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
Partners with leaders in their assigned Line of Business, Risk/Compliance/Audit (RCA) Consultants, and other RCA Managers to, depending on the function, oversee the successful creation, implementation, and maintenance of an effective risk management framework. Lead projects and/or activities that ensure compliance with applicable federal, state, and local laws and regulations. Facilitate the identification of gaps and drive solutions that minimize losses resulting from inadequate internal processes, systems, or human errors. Ensures the active identification, response and/or escalation of risks as appropriate. May influence policies and procedures to maximize profit potential and minimize regulatory exposure. Accountable for an effective partnership between the Line of Business and the Lines of Defense.
Candidates must have expert understanding of fair lending (anti-discrimination) and unfair, deceptive, or abusive acts or practices (UDAAP), with specific experience in redlining risk management.
Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Typically, more than eight years of applicable experience
Key Responsibilities
+ Provide second line of defense oversight and monitoring of the Equal Credit Opportunity Act, Fair Housing Act, and Unfair, Deceptive, and Abusive Acts or Practices, with a focus on redlining
+ Monitor geographic and demographic lending patterns to identify potential redlining risks, including application and lending disparities
+ Perform root cause analysis to understand the underlying causes of disparities
+ Prepare detailed reports on findings and present actionable recommendations to senior leadership
+ Develop and monitor plans to address lending disparities, including new or modified products, product deployment, underwriting criteria, marketing, outreach, referral sources, compensation, and staffing
+ Develop and maintain policies and procedures to manage and mitigate redlining risks and promote fair and responsible banking
+ Provide training to staff on fair and responsible lending laws, including redlining risks and risk management
+ Respond to inquiries and provide supporting documentation to regulatory agencies as needed.
+ Monitor and respond to industry developments and regulatory issuances from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, Department of Justice, and other agencies.
Preferred Skills/Experience
+ Expert understanding of fair and responsible banking laws and regulations, including ECOA, FHA, and UDAAP, and related standards, regulatory guidance, litigation and enforcement actions
+ Prior experience in redlining risk management.
+ Proficient computer skills, especially Microsoft Office applications
+ 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
+ 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
Additional Skills/Experience
- Advanced knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
- Advanced understanding of the business line’s operations, products/services, systems, and associated risks/controls
- Thorough knowledge of Risk/Compliance/Audit competencies
- Strong leadership and management skills of processes, projects and people
- Effective written and verbal communication skills
- Strong analytical, problem-solving and negotiation skills
- Proficient computer skills, especially Microsoft Office applications
- Applicable professional certifications
This 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 (https://careers.usbank.com/global/en/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
EEO is the 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 (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) 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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .
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: $119,765.00 - $140,900.00 - $154,990.00
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 postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
Job Description
Partners with leaders in their assigned Line of Business, Risk/Compliance/Audit (RCA) Consultants, and other RCA Managers to, depending on the function, oversee the successful creation, implementation, and maintenance of an effective risk management framework. Lead projects and/or activities that ensure compliance with applicable federal, state, and local laws and regulations. Facilitate the identification of gaps and drive solutions that minimize losses resulting from inadequate internal processes, systems, or human errors. Ensures the active identification, response and/or escalation of risks as appropriate. May influence policies and procedures to maximize profit potential and minimize regulatory exposure. Accountable for an effective partnership between the Line of Business and the Lines of Defense.
Candidates must have expert understanding of fair lending (anti-discrimination) and unfair, deceptive, or abusive acts or practices (UDAAP), with specific experience in redlining risk management.
Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Typically, more than eight years of applicable experience
Key Responsibilities
+ Provide second line of defense oversight and monitoring of the Equal Credit Opportunity Act, Fair Housing Act, and Unfair, Deceptive, and Abusive Acts or Practices, with a focus on redlining
+ Monitor geographic and demographic lending patterns to identify potential redlining risks, including application and lending disparities
+ Perform root cause analysis to understand the underlying causes of disparities
+ Prepare detailed reports on findings and present actionable recommendations to senior leadership
+ Develop and monitor plans to address lending disparities, including new or modified products, product deployment, underwriting criteria, marketing, outreach, referral sources, compensation, and staffing
+ Develop and maintain policies and procedures to manage and mitigate redlining risks and promote fair and responsible banking
+ Provide training to staff on fair and responsible lending laws, including redlining risks and risk management
+ Respond to inquiries and provide supporting documentation to regulatory agencies as needed.
+ Monitor and respond to industry developments and regulatory issuances from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, Department of Justice, and other agencies.
Preferred Skills/Experience
+ Expert understanding of fair and responsible banking laws and regulations, including ECOA, FHA, and UDAAP, and related standards, regulatory guidance, litigation and enforcement actions
+ Prior experience in redlining risk management.
+ Proficient computer skills, especially Microsoft Office applications
+ 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
+ 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
Additional Skills/Experience
- Advanced knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
- Advanced understanding of the business line’s operations, products/services, systems, and associated risks/controls
- Thorough knowledge of Risk/Compliance/Audit competencies
- Strong leadership and management skills of processes, projects and people
- Effective written and verbal communication skills
- Strong analytical, problem-solving and negotiation skills
- Proficient computer skills, especially Microsoft Office applications
- Applicable professional certifications
This 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 (https://careers.usbank.com/global/en/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
EEO is the 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 (https://eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf) 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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .
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: $119,765.00 - $140,900.00 - $154,990.00
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 postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
Source : U.S. Bank