Senior Audit Project Manager - Credit Risk

The Corporate Audit Services (CAS) Senior Audit Project Manager is a senior‑level auditor responsible for leading and executing high‑quality audit engagements covering U.S. Bancorp’s credit risk management activities. This role is designed for an experienced internal auditor who brings deep proficiency in audit methodology and execution, along with substantial experience auditing credit‑related areas within a large financial institution.

The Senior Audit Project Manager supports the CAS Senior Audit Manager – Credit Risk in delivering independent assurance and advisory services to senior management and the Audit Committee. The role evaluates the effectiveness of governance, risk management, and internal controls across credit risk processes, including but not limited to credit monitoring, credit reporting, CECL, credit analytics, and credit risk (loan) review.

While this position has no direct reports, it carries significant responsibility for independently completing audit engagements with minimal supervision, providing technical leadership on credit risk audits, and ensuring work meets CAS quality standards and professional auditing requirements.

Primary Responsibilities

• Independently lead and execute audit engagements, or supervise audit staff when applicable, ensuring timely delivery of high‑quality, well‑supported audit results.

• Review and assess audit work to confirm accuracy, completeness, relevance, and adherence to internal audit policies, procedures, and IIA Standards.

• Evaluate audit issues to ensure appropriate identification of risk exposures, root causes, and practical, effective management action plans.

• Plan audit engagements by:

  • Understanding and documenting business processes

  • Identifying key risks and controls

  • Assessing control design and operating effectiveness

  • Developing audit programs that clearly support audit objectives

• Support audit reporting and wrap‑up activities, including issue disposition and contribution to clear, concise, and well‑supported audit reports.

• Monitor engagement progress against plan and schedule, proactively addressing risks to delivery and ensuring timely workpaper reviews.

• Provide on‑the‑job coaching and technical guidance to audit staff, with emphasis on audit execution quality and credit risk subject‑matter application.

• Collaborate across the three lines of defense and with other CAS audit teams to ensure coordinated, risk‑focused, and efficient audit coverage of credit‑related activities.

• Perform other duties as assigned by management.

Basic Qualifications

• Bachelor's degree, or equivalent work experience

• Typically more than 10 years of applicable experience

Preferred Skills and Experience

• 5 or more years of large‑bank internal audit experience, including coverage of credit risk–related audit areas, such as (but not limited to):

  • Credit review and loan review functions

  • Credit risk monitoring and reporting

  • CECL, credit loss forecasting, and credit analytics processes

  • Regulatory or supervisory credit‑focused testing

• Experience may be gained through internal audit roles, regulatory agency examinations, or credit‑focused audit work at a large public accounting or consulting firm.

• Strong understanding of banking regulations, safety‑and‑soundness expectations, and regulatory trends affecting credit risk management.

• Working knowledge of the IIA Practice Guide on Reliance on Other Assurance Providers.

• Thorough understanding of IIA Standards and internal control frameworks.

• Exceptional written and verbal communication skills.

• Demonstrated critical thinking, professional skepticism, and analytical judgment.

• Proven ability to manage multiple priorities and adapt to changing audit plans.

• CIA or other relevant professional certification, or advanced degree, strongly preferred.