We did some tests using Spatial Analyst Tools-> Slope to semi-automatically identify levees and other man made earthworks with DEMs that could potentially be used for the same thing. We found in our tests that the slopes between 1:1 and 2:1 would often also identify the stream banks. With the symbology of the slope process output raster set to the corresponding slope in degrees(I want to say 30-45 worked best) you can just draw along the outer limits. If you prefer TINS, 3dAnalyst tools->triangulated surface->Surface Slope I believe does the same thing as the spatial.
That said, unless you are dealing with hundreds of cross sections in your models you would likely be better served time wise just selecting your stream centerline and using Editor->copy parallel to create your approximate stream bank locations and then just use the graphical editor in RAS to manually adjust as needed. Its pretty rare that we bother trying to draw a bank line to match the stream banks for the same reason you specified...you end up having to fix it anyway.