Custody Network Manager

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, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive.   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. Try new things, learn new skills and discover what you excel at—all from Day One.

As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.

We actively uphold transparent and fair hiring practices that support individual opportunity, inclusive culture, and career mobility across all levels of our organisation.

We offer meaningful opportunities for growth, a culture of inclusion, and a strong commitment to transparency and integrity in everything we do.

Job Description

We have an exciting opportunity within our Investment Services business to become a Custody Network Manager.

The 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 of various areas of the globe. This position is focused on the expansion of U.S. Bank’s network in the Asia Pacific region, and oversight of U.S. Bank’s sub-custodian network in the Western Hemisphere.

This role could be a great opportunity for someone with 3+ years Financial Services / preferably Custody experience combined with some client service or vendor facing experience to take the next step in their career.

Sub-custodian relationship and third-party monitoring:

• 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:

• 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.)
• Remain current with all regulations, securities laws, internal policies and procedures.
• Actively ensure compliance with the U.S. Bank Code of Ethics and all Anti-Money Laundering, Bank Secrecy Act, Information Security and Suspicious Activity Reporting requirements, policies and procedures. Actively participate in any required corporate and business line training in these areas. Confirm account-opening procedures, understand, and follow internal suspicious activity referral requirements and processes, as required for this position. Actively works with internal and external customers to understand each customer's normal account activity, as appropriate for this position.

Specifications:

• Bachelor’s degree in Business Administration, Finance or related field required.
• Minimum 3 years Financial Services experience, preferably within the global custody space.
• Experience in client and/or vendor relationship role would be highly beneficial
• Knowledge of services associated with global custody, sub-custody, cash correspondent banking, depositary, and prime brokerage.
• Demonstrated analytical, decision-making and problem-solving skills.
• Effective communication skills – capable of articulating compelling strategies with an ability to balance listening and advocacy to achieve desired strategic goals.
• Results oriented – effectively combines business acumen, sound decision-making, and a bias for action.
• Strong and demonstrable writing skills.
• Strong organizational skills – capable of motivating and managing teams to deliver desired results.
• Language skills – must be fluent in English, any additional language a plus.
• Models and maintains the values of openness and inclusiveness.
• Demonstrated interest and knowledge of geopolitical current affairs and events.
• Travel: 10% (domestic and international)
• 3 days a week in the office expectation

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Accessibility

We are committed to providing an inclusive and accessible recruitment experience. If you need adjustments at any stage of the application or hiring process, please contact your recruiter for guidance and support.

Total Rewards

U.S. Bank is committed to fair, equitable, and transparent compensation practices in line with local regulatory and legal requirements. Our total rewards approach is designed to attract, retain, and support top talent while ensuring equal pay for work of equal value.

We offer a market-competitive compensation package that includes:

• Clearly defined salary ranges aligned with industry benchmarks and internal equity standards.

• Performance-based incentives for eligible employees (as defined by relevant plan rules), awarded through transparent, objective criteria that recognize both individual and company performance.

• Inclusive equitable benefits that are accessible to all employees and focused around our 3 main pillars of financial wellbeing, health & wellness).

• Continuous development opportunities including training, education support, and career progression pathways based on inclusive and transparent criteria.

• Employee recognition programs that celebrate achievements and milestones for all.

We regularly review our compensation and benefits to ensure they remain competitive, inclusive, and responsive to employee needs and market trends. Further details of the compensation package will be provided upon application.

We encourage candidates to explore the full value of our offer, including monetary and non-monetary benefits, at Employee benefits and development | U.S. Bank | Elavon.

Closing Date

Posting may be closed earlier due to high volume of applicants.

We aim to provide timely updates throughout the process and encourage early applications to ensure consideration.