Digital Assets Risk Management

Company: U.S. Bank
Location: Minneapolis, Minnesota, United States
Type: Full-time
Posted: 18.AUG.2021


At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United Stat...


At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.Job DescriptionAs part of U.S. Bancorp's Risk Management and Compliance Division, the Operational Risk Management (ORM) Department serves a central coordinated role in helping to assess the levels and trends of operational risk, determining the effectiveness of operational risk controls, and working with Business Lines on opportunities to mitigate operational risk.The Digital Assets Risk Management position is situated in the Enterprise Fraud and Payments Risk Management team within ORM, a Second Line of Defense (SLoD) organization. As part of ORM, the Payments Risk Management team acts as a second line of defense and is specifically responsible for identifying and mitigating risks associated with Digital Assets (e.g. cryptocurrency, tokenized assets, stablecoin) and the underlying technology infrastructure and protocols (e.g. distributed ledger, blockchain, cryptography) at an enterprise level across the bank.The individual who fills this position will work with partners throughout the SLoD, business line risk managers, and operations managers to identify digital asset management risks; assess risk management practices to identify opportunities to strengthen controls; advise business lines on risk mitigation activities and control enhancements; and oversee business line risk management practices and remediation actions.The individual who fills this role will be responsible for the following activities:Work with BL risk and operations managers to gain an end-to-end understanding of digital asset products and services, and leveraged technologies.Partner with SLoD risk managers and BLs to develop and facilitate digital asset management risk and control assessments.Research rules, regulations, laws, and guidance applicable to specific digital asset management processes to identify relevant authority and develop enterprise-level digital asset management frameworks and policies establishing requirements for managing operational risks.Oversee business line gap assessments against digital asset management policy requirements and remediation actions to close identified gaps.Work with source system and SLoD risk owners to develop aggregated, enterprise-wide digital asset risk reporting to executive management and regulatory agencies.Perform root cause analysis of digital asset-related issues and recommend actions for closing identified control gaps.Oversee business line actions to remediate regulatory and internal audit issues.Basic Qualifications- Bachelor's degree, or equivalent work experience- Ten or more years of experience in an applicable risk management environment- Applicable certificationsPreferred Skills/ExperienceBachelor's degree, preferably in Finance or TechnologyAbility to work independently with drive, initiative, and confidence to challenge the current environment and aptitude keep pace with emerging developmentsExperience in digital assets operations or custody services, preferably 5 or more years in the financial sectorAwareness and understanding of rules, regulations, and laws applicable to various digital assets, cryptocurrencies and related technologiesExperience in developing frameworks, policies, and operating modelsExperience in developing and implementing risk reporting and trend analysis; risk and control assessment; gap assessment; and root cause analysis.Experience in program development and project management collaborating with technical and non-technical teamsExperience collaborating and communicating with senior managementExperience communicating with regulatory agencies and responding to regulatory and internal audit requestsKnowledge of risk management and control frameworks (e.g., COSO, COBIT)Knowledge of information security and privacy standards and regulations (e.g., ISO 27001/27701, NIST, FFIEC)Benefits:Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by is the LawApplicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.E-VerifyU.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 theE-Verify program.

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