US Bank Audit Director Job Id 2024-0026717 Location 

United States, Minnesota, Minneapolis 

138957647

Job Description

The Corporate Audit Services (CAS) Audit Director supports the Senior Audit Director and Chief Audit Executive, in providing the Audit Committee and senior management with independent assurance and advisory services designed to evaluate and improve the effectiveness of risk management, control, and governance processes of U.S. Bancorp (USB), affiliates, wholly owned subsidiaries and entities where USB owns a majority (controlling) interest.

PRIMARY RESPONSIBILITIES:

• Coordinating with the Senior Audit Director in developing and driving execution of the risk-based Annual Audit Plan for the Second Line, Technology Risk & Resiliency areas and Enterprise Data. Includes identifying auditable entities and assessing risk within the auditable entities; determining appropriate audit cycles and audit strategy; and determining necessary audit resources and estimated expenses associated with completion of a forward looking (12-18 month) audit plan. Maintaining an effective Continuous Monitoring Program which monitors key risks within Auditable Entities across multiple business lines and identifies any key emerging/evolving risks by routinely interfacing with independent peer banks on regulatory trends. Also includes monitoring adequacy of CAS resources and adjusting the Audit Plan when appropriate and communicating key results of Continuous Monitoring to applicable members across CAS.

• Lead a team of Audit Managers and professionals and is expected to recruit, hire, and develop assigned personnel in accordance with U.S. Bank Human Resources Policies and Corporate Audit Services Policies, Standards and Guidelines. These duties include active participation in recruiting activities; establishing and managing development plans for assigned personnel; and providing quarterly performance feedback and annual performance evaluations for assigned personnel. Also includes addressing performance problems promptly.

• Supervise Audit Managers in the completion of audit engagements, ensuring the highest quality work delivered timely. Supervision includes:

  • Coordinating with Audit Managers to plan audit engagements.

  • Ensuring reviews are performed to ensure audit engagement work contains relevant facts to support audit scope and conclusions and adhere to internal audit policies and procedures.

  • Reviewing audit reports which communicate audit opinions and audit issues in a timely, clear, and concise manner.

  • Monitoring progress of audit engagements against plan and schedule and working with Audit Managers to make necessary adjustments.

• Overseeing board, committee and other stakeholder reporting for completeness, consistency with other internal audit material and accuracy of the most up-to-date information. Overseeing ongoing progress and remediation by management for all outstanding technology and operations issues across the entire enterprise and supporting other Audit Directors. Presenting as needed at Sr. Operating Committee and Sub-Committee meetings.

• Develop and deepen relationships through regular interactions with key internal and external stakeholders that include but are not limited to senior management; internal control partners; regulatory agencies; external auditors; external subject matter experts; and industry peers. This includes regular participation within industry peer groups.

• Collaborating across the three lines of defense regarding business processes, risks, and controls. Coordinating audit activities by integrating other internal audit subject matter teams (Anti-Money Laundering, Compliance, Risk Management, Data, etc.) to ensure appropriate and efficient coverage of the business products, services, and processes. Managing the team’s workload to assist other audit teams when resources are needed for areas of higher risk.

• Drive automation and data analytics opportunities within their portfolio.

• Performing other duties as requested by Senior Audit Director.

Skills and Preferred Qualifications:

• Bachelor’s degree (preferably in Accounting, Finance, Management Information Systems)

• 15+ years of progressive experience in internal auditing, public accounting, regulatory, or other relevant experience

• 10+ years of managerial experience

• CIA, CPA, CISA or other relevant professional designation preferred

• Expert understanding of Institute of Internal Auditors’ Standards and the common definition of internal controls

• Familiarity with several IT Governance frameworks and guidelines, including Cloud Security Alliance Cloud Controls Matrix, COBIT, NIST, and FFIEC, Databases (e.g., Oracle, SQL, DB2), Client OS (e.g., Windows, UNIX, Mainframe) Technology Architecture, Governance, and key processes (e.g., Change Management, Problem and Incident Management)

• Extensive knowledge and experience assessing data management strategy, governance, Independent Risk Management (Technology), resiliency, technology, and architecture, including frameworks for metadata, data lineage, and data quality across large financial institutions

• Strong understanding of Data Protection and Privacy Federal and Global Regulations (e.g. Gramm Leach Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), Global Data Protection Regulation (GDPR), Personal Information Protection and Electronic Documents Act (PIPEDA)), and State Laws (e.g. California Consumer Privacy Act (CCPA))

The Audit Director should exhibit the following:

• Business Acumen – Has impressive intellectual and critical thinking skills and can be accretive to the senior management teams. Relevant Financial Service Industry and Technical knowledge (e.g., Lending, Banking Operations, Trust, Information Security, Disaster Recovery Planning, etc.), including understanding of risk theory, control frameworks, applicable financial services industry trends, laws and regulations; and impact of government legislation and regulation on business.

• Executing Results – Able to execute against multiple projects/workstreams and excel in a fast-paced environment. Is not afraid to challenge the status quo; exhibits a mindset of creativity, innovation, and an energetic drive to succeed. Creates healthy tension to yield optimal outcomes. Able to set and meet aggressive goals and action plans, both as an individual and leading a team.

• Leadership – A proven leader able to build, lead, motivate and retain a high performing team. Skillfully coaches and mentors’ audit professionals. Gets the best performance from people. Taps into people’s needs, interests, and goals to motivate them to achieve. Inspires commitment from people and mobilizes teams toward high performance and goal achievement. Is a champion for our people and our culture; coupled with a high sense of empathy and One USB – firm first mindset.

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 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 .

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: $193,035.00 - $227,100.00 - $249,810.00

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.

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.