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

SUMMARY

The Custody Network Manager is responsible for the discovery, establishment, and oversight of U.S. Bank’s sub-custodian and cash correspondent bank network relationships and maintenance of market intelligence products of various areas of the globe. The Custody Network Manager will partner closely with staff from within Wealth, Corporate, Commercial, and Institutional Banking (WCIB) Operations, Risk, Legal, Compliance, WCIB business lines, and other relevant groups to support a best-in-class network of banks.

RESPONSIBILITIES
Sub-custodian relationship and third-party monitoring responsibilities which includes:

- Establish the sub-custody account infrastructure necessary to support U.S. Bank's global custody business in the Western Hemisphere and in other strategic locations across the globe, including Asia Pacific, Middle East & Africa, and Europe.

- Conduct Request for Information (RFI) and Request for Proposal (RFP) exercises to identify and assess the ability of sub-custodians to support US Bank's custody needs.

- Negotiate and complete the documentation required for the establishment of sub-custodian relationships and the opening of accounts and on-going maintenance and oversight/renewal of that documentation.

- Negotiate fees and establish service level agreements to ensure best pricing and service levels for U.S. Bank. Work with U.S. Bank internal business partners (operations, legal, risk, tax, etc.) on local market practice and sub-custodian operational capabilities and assist on establishing new products and offering new markets.

- Conduct due diligence on appointed sub-custodian banks, central securities depositories, and other local markets entities in line with U.S. Bank Network Management established guidelines.

- Partner with internal risk and compliance colleagues to ensure established procedures and protocols are carried out in line with corporate guidelines, client requirements, and external regulatory forces.

Market information analysis, reporting and client service responsibilities which includes:

- For assigned markets, maintain market intelligence and best practice reports on U.S. Bank's information platform, for use by internal and external U.S. Bank clients.

- Publish market newsflashes on operational, regulatory, or other market changes which may impact internal and external U.S. Bank clients.

- Respond to internal and external client queries regarding U.S. Bank's Network Management capabilities and local market practice to assigned markets.

- For assigned markets, provide market overview presentations to internal and external clients as requested.

- Serve as the U.S. Bank escalation point for all activity related to the sub-custody services provided by appointed sub-custodians.

- Establish and maintain close relationships with all key internal business lines associated with global custody (i.e., operations, tax, treasury, FX, risk management, etc.).

REQUIRED
- Five or more years of experience in the financial services industry
- At least two years of experience in global custody and/or global Broker/Dealer and/or global network management
- Ability to travel

- Bachelor's degree in Business Administration, Finance, or related field, or equivalent work experience

PREFERRED
- Thorough knowledge of services associated with global custody, sub-custody, cash correspondent banking, depositary and prime brokerage
- Demonstrated analytical, decision-making and problem-solving skills
- Strong organizational, verbal and written communication skills
- Ability to travel 10% (domestic and international)

This position 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.

#USBOps

#WCIBO

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 (some may vary based on role, location or hours):

• 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 every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

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. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.

E-Verify

U.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 the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $101,490.00 - $119,400.00 - $131,340.00Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.