Freelance Bank Risk Management Jobs in Illinois (NOW HIRING)

We are seeking an individual contributor to join our Credit Risk Quality Assurance (QA) testing team which is part of our Credit Risk Administration (CRA) team. The Credit Risk QA team assesses portfolio risks and adherence to Credit Policy and Procedures. QA coverage is risk-based and evolves to address changing business needs, regulatory priorities, and emerging risks.

About the Credit Risk Administration (CRA) Team

We are a highly dynamic and talented team which delivers on our mission through four pillars: Customer, Process, Talent, and Data.

Vision | We create the future of credit risk management through data, analytics, and risk process innovation for our customers.

Mission | We deliver data-driven information solutions to protect our stakeholders and inform the most significant financial decisions in the bank.

Values | In addition to U.S. Bank core values, we prioritize collaboration, integrity, simplicity, and continuous learning.

About the Role

The Credit Risk Management QA Professional will be part of an established, collaborative team responsible for executing independent reviews across a range of credit risk areas, including Highly Leveraged Transactions (HLT), Shared National Credits (SNC), Weak and Marginal Credit, and Enterprise Valuation Analysis. The role supports oversight activities designed to assess alignment with established risk management and regulatory requirements, with opportunities to contribute to additional coverage areas as priorities evolve.

Additional responsibilities include analyzing and validating complex underwriting and lending criteria across Wealth, Corporate, Commercial, Institutional, and Business Banking portfolios; assessing the effectiveness of credit risk frameworks and controls; conducting analyses to identify emerging trends and areas warranting further review; providing credible challenge and recommendations where appropriate; and identifying reporting enhancements and process improvement opportunities that strengthen risk management practices and support the team's strategic objectives.

Essential Functions:

• Analyze and filter large data sets using defined criteria to establish testing populations and support sample selection.

• Document review activities and results within QA testing workpapers and reports, including the identification and escalation of items requiring secondary review.

• Partner with CRM Approval Officers and other stakeholders to resolve testing inquiries, validate observations, and facilitate corrective action efforts.

• Ensure adherence to established QA methodologies, findings guidance, and process requirements.

• Compile testing results and prepare related reporting for senior and executive management.

• Provide subject matter expertise and consultative support to CRM Credit Approval, Business Lines, and other stakeholders on credit risk and quality assurance matters.

• Participate in reciprocal cross-training by learning assigned responsibilities from others and providing training and support on own areas of expertise.

• Assess and evaluate risk, credit quality, and emerging concerns within assigned products, portfolios, or Business Lines.

Preferred Skills/Experience

- Bachelor's degree or higher in Accounting, Finance, Economics, or a related field.

- Experience in commercial credit analysis, wholesale portfolio management, or related disciplines.

- Comprehensive knowledge of commercial lending, credit analysis, credit administration, and lending policies and procedures, including expertise in Commercial & Industrial (C&I) and Commercial Real Estate (CRE) lending.

- Advanced proficiency with Microsoft 365 applications (particularly Excel, Word, and PowerPoint) and credit-related systems, including underwriting, loan servicing, and credit approval platforms.

- Strong analytical, problem-solving, risk assessment, and decision-making skills.

- Demonstrated project management and planning capabilities, with the ability to manage multiple priorities and maintain attention to detail.

- Excellent verbal, written, and interpersonal communication skills, with the ability to build effective partnerships and influence outcomes across teams.

- Self-motivated and resourceful, with the ability to work independently, quickly adapt to new technologies and business priorities, and deliver results with minimal supervision.