Responsible for Corporate Credit (second line of defense) oversight for US Bank’s Home Equity originations and portfolio. This includes both Home Equity Lines of Credit (HELOC) and closed end Home Equity Installment Loans (HEIL). This role partners with leaders in the Line of Business, Risk/ Compliance/ Audit (RCA) Consultants, and other RCA Managers to oversee the successful creation, implementation, and maintenance of an effective credit risk management framework. It has direct influence over ... more details
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
Responsible for Corporate Credit (second line of defense) oversight for US Bank’s Home Equity originations and portfolio. This includes both Home Equity Lines of Credit (HELOC) and closed end Home Equity Installment Loans (HEIL). This role partners with leaders in the Line of Business, Risk/Compliance/Audit (RCA) Consultants, and other RCA Managers to oversee the successful creation, implementation, and maintenance of an effective credit risk management framework. It has direct influence over policies and procedures to maximize profit potential and minimize credit risk exposure. The role is accountable for an effective partnership between the Line of Business and Corporate Credit.
Key responsibilities include:
- Lead projects and/or activities that accomplished set goals for Corporate Credit Residential Real Estate team. Facilitate the identification of gaps and drive solutions that effectively manage credit risk with US Bank’s defined credit risk appetite. Ensures the active identification, response and/or escalation of risks as appropriate.
- Review and assist in management of Credit Policies governing Residential Real Estate. Including policy change proposals, policy tests, and post implementation monitoring assessments.
- Serve as Credit Risk lead for change management (PRISMs) over relevant new or modified products, services, and/or systems.
- Provide oversight for HELOC strategies, including review and approval of Line Management decisions.
- Continuous monitoring and management over credit policy exceptions, including review of individual credits for approval.
- Assist in management of Credit Authority for Line of Business including review and approval of new authorities.
- Assist and/or serve as lead for developing appropriate Risk Limits for Home Equity that align with the Bank’s Risk Appetite. Participate in monitoring effectiveness of Limits and any associated mitigation plans to stay within them.
- Participate and/or act as lead representative for Credit on Regulatory exams.
- Perform analysis and risk assessments of Portfolio from Credit perspective, including assessing credit risk environment, control effectiveness and direction, plus emerging risks.
- Report monthly and quarterly on overseen portfolios including portfolio performance and credit quality. Approval and/or performing of reconciliation controls as well.
- Attend industry roundtable meetings as a representative for U.S. Bank.
- Attend relevant meetings in Line of Business, such as Direct Mail meetings, Loan Origination Systems (NetOxygen & ACAPS) changes, Loan Servicing System (ALS & MSP) changes including migration to exclusively using MSP, Attend Fraud reviews meetings. In Second Line, attend loss forecast, Allowance meetings, risk identification, risk appetite limits, and emerging risk reviews.
Basic Qualifications
- Bachelor's or advanced degree, or equivalent work experience
- Typically more than 15 years of applicable experience
Preferred Skills/Experience
- Advanced knowledge of Credit Risk competencies
- Proficient in SAS analytical coding a plus
- Considerable understanding of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
- Considerable 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 skills at managing stressful situations
- Effective written and verbal communication skills
- Strong analytical, problem-solving and negotiation skills
- Proficient computer skills, especially Microsoft Office applications
- Applicable professional certifications
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.
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 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: $165,325.00 - $194,500.00 - $213,950.00
U.S. Bank will consider qualified applicants with criminal histories in a manner consistent with the San Francisco Fair Chance Ordinance.
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.
