Senior Audit Manager – Institutional Services and Custody Solutions

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The Corporate Audit Services (CAS) Senior Audit Manager is a senior level management position that is responsible for coordination and oversight of audit activities related to Institutional Services and Custody Solutions products and services within U.S. Bank’s Wealth, Corporate, Commercial and Institutional Banking (WCIB) business. This role supports the Audit Directors for WCIB, the Senior Audit Director and the 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. The Senior Audit Manager is responsible for providing strategic direction, leadership, and coordination of the relevant product and service cyclical risk-based audit plan, which includes institutional trust services, institutional custody, institutional investment services, and retirement plan administration businesses. The Senior Audit Manager also has the ability to effectively communicate requirements of laws and regulations to business partners and key stakeholders. These businesses operate primarily domestically. The role requires a recognized subject matter expert with demonstrated experience in institutional trust, retirement plan administration, custody servicing and operations, investment advisor services, liquidity solutions, fiduciary services, trustee activities, and applicable U.S. regulatory frameworks (OCC 12 CFR 9, DOL, IRS, SEC). Primary Responsibilities: • Coordinating with others in the department in developing and driving the execution and coordination of the risk-based Annual Audit Plan for Institutional Services and Custody solutions, with emphasis on trust, custody, and fiduciary products and services of the bank. Maintaining an effective Continuous Monitoring Program which monitors key risks within auditable entities across multiple risks, geographies, and entities and identifies any key emerging/evolving risks by routinely interfacing with independent peer banks on regulatory trends. • Ensure appropriate coverage of key risks across institutional custody, asset servicing, securities processing, cash management, safekeeping, settlement, and operational support functions. Ensure adequate coverage of key operational, fiduciary, regulatory, technology, information security, and third-party risks. • Evaluate emerging risks associated with new products, market expansion initiatives, technology transformation, and regulatory change. • Lead a team of 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. • Supervise team in the completion of engagements, ensuring the highest quality work delivered timely and appropriately focusing on legal entity and geography requirements. Supervision includes: o Coordinating with others across the department to plan engagements. o Ensuring reviews are performed to ensure audit engagement work supports audit scope and conclusions and adhere to internal audit policies and procedures. o Reviewing audit reports and memos with international impact which communicate opinions and issues in a timely, clear, and