Issue Management Coordinator - Investment Services
U.S. Bank · Minneapolis, Minnesota, United States
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
The Issue Management Coordinator is responsible for working closely with key stakeholders in the business line focusing on Investment Services within Wealth, Corporate, Commercial and Institutional Banking (WCIB) and throughout the enterprise to effectively execute the Issue Management program.
U.S. Bank’s Investment Services business includes Global Corporate Trust, providing trustee, custody and agency services that support bond issuances and other financing transactions for corporate, municipal and structured finance clients and Global Fund Services providing fund administration, accounting, transfer agency, tax, custody and depositary services in the U.S. and internationally. WCIB Risk Management is led by the Business Line Chief Risk Officer and works with the business to help identify, control and monitor the risks inherent to its business activities.
Position Highlights
- Partner with key partners, including as applicable internal audit, second and first line compliance and risk partners, and the business to ensure the appropriate corrective actions are outlined and address the issue and root cause
- Ensure all corrective actions are executed properly in accordance with the Enterprise Issues Management Policy for all assigned issues. (Note: All evidence must be retained and captured as part of issue closure.)
- Independently validate issue resolution plans created by the business to ensure they adequately address the root cause of the issue and evaluate whether corrective actions are sustainable
- Conduct an independent and comprehensive review of business-provided evidence to assess whether assigned issues have been fully remediated and are ready for closure. This may also include performing detailed validation testing to confirm that the related process or control is designed appropriately and operating effectively.
- Provide credible challenge of evidence (including data extractions) and provide business line partners and Senior Management with accurate information supporting that assigned issues have been appropriately resolved prior to issue closure
- Responsible for writing clear, well-supported detailed memos for assigned issues that clearly articulate the corrective actions taken by the business, link them to the root cause, summarize the results of WCIB Issue Management validation and sustainability testing, and why the fix will hold over time, so it can be easily followed and clearly understood to a reader.
- Partner with business line groups and business unit risk managers in vetting risk events and testing findings, determining whether they meet issue criteria under the Enterprise Issues Management Policy, and draft clear issue descriptions and root cause statements.
- Ensure accurate and timely updates of ARCHER (source of record) fields for all assigned issues based on policy and program requirements. Note: Enterprise/Senior Business Line reporting comes from ARCHER data fields
- Assess and document issue classification in ARCHER, including primary and related risk categories, severity rating, and how the issue was identified, so that reporting is accurate
- Work closely with WCIB Business Unit Risk Managers (BURMs) and business line partners to address matters of concern and ensure issues are remediated in a timely manner
- Proactively monitor assigned issues and manage milestone target dates (both business and WCIB Issue Management owned) to meet established issue closure dates, and escalate quickly if milestones are at risk. (Note: Issues cannot be extended once opened unless for specific cause and approved by Senior Managers)
- Provide weekly and monthly written updates regarding status of assigned issues, as requested for established reporting routines, which are shared with senior business line leaders
- Work on Issues from all Issue Sources (including self-identified, SLOD-sourced, Regulatory-sourced, and Audit-sourced) aligned to Investment Services business units, including Global Corporate Trust and Global Fund Services, across U.S. and international legal entities
Basic Qualifications
- Six or more years of applicable experience
- Bachelor’s degree, or equivalent work experience
Preferred Skills and Qualifications
- 6+ years' experience in Risk Management or applicable line of business (e.g., compliance, testing and monitoring, or audit), preferably in financial services or similar industry
- Relevant certifications (CPA, CIA, CISA, etc.)
- Working knowledge of trust, custody, fund administration and related services offered by Investment Services business units, and the laws, regulations and regulatory trends that affect them
- Working knowledge of risk management and issue management practices, including Enterprise Issue Management Policy and Program requirements, or the ability to read policies and grasp requirements quickly
- Experience writing clear issue descriptions and performing or evaluating root cause analysis
- Experience performing validation or sustainability testing and reviewing evidence to confirm issues are fully fixed for the long term
- Experience with ARCHER or a similar governance, risk and compliance system, including issue classification and risk taxonomy
- Ability to manage multiple assignments, requests and deadlines at once, often on tight timeframes, and prioritize work effectively, both independently and as part of a team
- Self-motivated, takes initiative, and capable of working independently (e.g., the ability to conduct research and seek answers with limited management intervention)
- Strong analytical, problem-solving and critical thinking skills, with close attention to detail and accuracy
- Strong written and verbal communication, interpersonal and collaboration skills, with the ability to work effectively across teams and with staff at all levels, and sound business judgment when priorities or viewpoints conflict
- Proven ability to not only identify and escalate concerns quickly and effectively but also propose a solution
- Ability to think strategically and implement change initiatives as they relate to the WCIB Issue Management program
- Experience with Tableau, SAS Enterprise Guide, Visual Basic, or SQL ideal, but a strong ability to review and validate data completeness is sufficient
Hybrid/flexible schedule
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:
- 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