Senior Audit Manager - Corporate Functions

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Job Description

The Corporate Audit Services (CAS) Senior Audit Manager – Corporate Function – Other is a management position that supports the Corporate Functions, Regulatory Reporting, and SOX Administration Audit Director. This role supports the Audit Director and Senior Audit Director, 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.

This role is responsible for overseeing the audit team responsible for auditing various areas within Strategy and Corporate Affairs. Specific areas of audit responsibility include M&A, DEI, Marketing and Analytics, and Corporate Real Estate, etc.

We are seeking an experienced audit leader that has strong knowledge of audit, risk management, and regulatory expectations (e.g., Office of the Comptroller of Currency’s Heightened Standards and Federal Reserve Board’s Large Financial Institution Rating System) at large financial institutions. This individual will have skills and experiences to effectively manage deliverables, own and lead the other Corporate Function management audit plan, provide oversight of audit activities over the risk management activities mentioned above, and deliver updates to operating committees, senior management and key stakeholders.

Primary Responsibilities:

• Coordinating with the Audit Director/Senior Audit Director in developing and driving the execution and coordination of the risk-based Annual Audit Plan for Strategy and Corporate Affairs. Includes identifying auditable entities and assessing compliance risk across all auditable entities; determining appropriate audit cycles and audit strategy for the compliance risk framework; 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 and industry events. 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 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 professionals in the completion of audit engagements, ensuring the highest quality of work is delivered timely. Supervision includes:

  • Coordinating with senior audit managers and 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 senior audit managers/audit managers to make necessary adjustments.

• Supporting the Audit Director/Senior Audit Director by creating and ensuring board, committee and other stakeholder reporting for completeness, consistency with other internal audit material and accuracy of the most up-to-date information.

• Presenting as needed at Sr. Operating Committee and Sub-Committee meetings.

• Overseeing ongoing progress and remediation by management for all outstanding operations issues across the entire enterprise and supporting other Senior Audit Directors/Audit D