Operational Risk Review (ORR) Analyst

Job Description

U.S. Bank is seeking an Operational Risk Review (ORR) Analyst responsible for executing review, issue validation, project, and data-focused activities within Independent Risk Review and Assessment (IRRA), a centralized second line of defense independent review function. This role supports the continued growth, enhancement, and delivery of IRRA’s operational risk review program by contributing to risk-based reviews, issue validations, strategic projects, and data-informed analysis across business lines and enabling functions.

ORR provides independent review and effective challenge of the Company’s operational risk, inclusive of technology risk, and operational risk-related processes and controls. In-scope risk categories include Fraud, Operations, People, Security of Physical Assets, Third Party, Business Resiliency, Systems, Cyber/Information Security, Legal, Model, Conduct, Data Management, and Fiduciary.

Responsibilities

• Execute assigned portions of operational risk reviews, issue validations, reviews, continuous monitoring, and other ORR projects in accordance with established methodology, timelines, and quality expectations.
• Evaluate business processes, controls, documentation, data, and evidence to support conclusions regarding process and control design, execution, issue remediation, and risk exposure.
• Support issue validation activities by assessing corrective actions, root-cause alignment, sustainability of remediation, and completeness of supporting evidence.
• Develop detailed, organized, and audit-ready workpapers, analysis, testing documentation, and support materials that clearly connect evidence to observations and conclusions.
• Develop and use data and reporting outputs to identify trends, anomalies, population/sample considerations, and potential areas of elevated operational risk.
• Partner with business line stakeholders and other Risk, Compliance, and Audit professionals to obtain information, clarify observations, and support effective challenge of risk, process, and control practices.
• Identify and escalate potential process or control weaknesses, evidence gaps, validation concerns, or significant risks to the ORR Lead Analyst, Team Lead, Manager, or Senior Manager, as appropriate.
• Prepare clear written summaries and verbal updates regarding review progress, analysis performed, findings, issues, risks, dependencies, and next steps.
• Contribute to process improvement, template enhancement, data quality routines, and other initiatives that improve consistency, transparency, and efficiency in ORR execution.

Qualifications

• Bachelor's degree, or equivalent work experience.
• Typically more than five years of applicable experience.

Preferred Skills/Experience:

• Basic to intermediate knowledge of operational risk, control frameworks, issue management, remediation validation, and risk-based review practices.
• Basic to intermediate Risk, Compliance, and Audit competencies, including the ability to evaluate evidence and document supportable conclusions.
• Solid understanding of business operations, products, services, systems, processes, data, and associated risks.
• Solid analytical skills, with the ability to review facts, identify patterns, evaluate data, and connect evidence to risks, controls, and remediation outcomes.
• Effective process facilitation and project management skills, including the ability to manage assignments, deadlines, dependencies, and shifting priorities.
• Effective presentation, interpersonal, written, and verbal communication skills, including the ability to summarize complex information clearly and professionally.
• Proficient computer navigation skills using Microsoft Office applications, including Word, Excel, PowerPoint, and related reporting, data, or workflow tools.
• Applicable professional certifications such as CRCM, CAMS, CPA, CIA, CISA, CRISC, or similar credentials are preferred.

Location Expectations

This role requires working from a U.S. Bank Location three (3) or more days per week.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• 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 every 30 worked, up to 80 hours per calendar year unless otherwise provided by law