Custody Operations Settlements Manager

US Bank; Ireland; On-site; EUR 90,000 - 120,000; Full time

Job summary

U.S. Bank's Elavon custody operations team in Ireland is seeking a Custody Operations Settlement Manager to lead global securities settlement, cash management and reconciliations across markets.

You will oversee trade lifecycle, drive remediation of settlements and support cross-functional teams in a fast-paced environment. The role emphasizes leadership of the Cash & Trade Settlements team, risk controls, and client and stakeholder management, with a focus on process improvements and

Responsibilities

• Lead the day-to-day management of global securities settlement activity across multiple markets, currencies and asset classes.
• Ensure trades are instructed accurately and within applicable market and custodian deadlines.
• Oversee the trade lifecycle from instruction through to final settlement, ensuring failed, pending and unmatched transactions are actively investigated.
• Drive root-cause analysis of settlement failures and recurring exceptions, ensuring sustainable remediation rather than repeated manual intervention.
• Oversee complex settlement activity across products including equities, fixed income/debt, ETFs, FX, mutual funds, derivatives and alternative investments, consistent with the product coverage of the existing Dublin Settlements team.
• Maintain appropriate oversight of manual settlements, corrections and bookings within internal custody/books-and-records systems.
• Provide operational oversight of cash flows generated through securities settlement activity.
• Monitor multi-currency cash positions, funding requirements, nostro activity and overdraft exposures.
• Oversee investigation of cash exceptions, including unapplied funds, unexpected receipts/payments, funding discrepancies and cash differences.
• Work closely with reconciliation teams to resolve aged cash and nostro breaks.
• Identify recurring drivers of cash differences and implement preventative controls and process improvements.
• Maintain effective oversight of daily cash, asset and settlement reconciliations, ensuring exceptions are investigated within agreed timeframes.
• Drive reduction of aged reconciliation breaks and ensure new exceptions do not develop into long-term backlogs.
• Review trends across settlement and cash exceptions to identify systemic or upstream root causes.
• Establish clear ownership and escalation paths for complex exceptions.
• Partner with Reconciliation, Asset Servicing, Cash, Corporate Actions and other operational teams where cross-functional remediation is required.
• Lead, coach and develop members of the Cash & Trade Settlements team.
• Set clear performance expectations and ensure appropriate allocation of daily workloads.
• Build subject-matter expertise and resilience across critical settlement and cash processes.
• Provide regular coaching, feedback and development opportunities.
• Ensure effective cross-training and succession planning across the function.
• Support recruitment, onboarding and training of new team members.
• Foster a culture of ownership, accountability, continuous improvement and high-quality client service.
• Maintain a strong operational control environment across trade and cash processing.
• Identify and escalation potential financial, client, regulatory and reputational risks.
• Ensure processing errors and control failures are investigated promptly and appropriate corrective actions are implemented.
• Maintain effective maker/checker and supervisory controls for high-risk activity.
• Ensure procedures, controls and operational documentation remain accurate and current.
• Support audit, compliance, regulatory and risk reviews where required.
• Act as a senior escalation point for complex cash and settlement issues.
• Manage internal and external client escalations through to resolution.
• Build strong relationships with custodia

Job description

Job Description

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.

Custody Operations Settlement Manager Role

Key Responsibilities

Trade Settlements

• Lead the day-to-day management of global securities settlement activity across multiple markets, currencies and asset classes.
• Ensure trades are instructed accurately and within applicable market and custodian deadlines.
• Oversee the trade lifecycle from instruction through to final settlement, ensuring failed, pending and unmatched transactions are actively investigated.
• Drive root-cause analysis of settlement failures and recurring exceptions, ensuring sustainable remediation rather than repeated manual intervention.
• Oversee complex settlement activity across products including equities, fixed income/debt, ETFs, FX, mutual funds, derivatives and alternative investments, consistent with the product coverage of the existing Dublin Settlements team.
• Maintain appropriate oversight of manual settlements, corrections and bookings within internal custody/books-and-records systems.

Cash Management

• Provide operational oversight of cash flows generated through securities settlement activity.
• Monitor multi-currency cash positions, funding requirements, nostro activity and overdraft exposures.
• Oversee investigation of cash exceptions, including unapplied funds, unexpected receipts/payments, funding discrepancies and cash differences.
• Work closely with reconciliation teams to resolve aged cash and nostro breaks.
• Identify recurring drivers of cash differences and implement preventative controls and process improvements.

Reconciliations & Exception Management

• Maintain effective oversight of daily cash, asset and settlement reconciliations, ensuring exceptions are investigated within agreed timeframes.
• Drive reduction of aged reconciliation breaks and ensure new exceptions do not develop into long-term backlogs.
• Review trends across settlement and cash exceptions to identify systemic or upstream root causes.
• Establish clear ownership and escalation paths for complex exceptions.
• Partner with Reconciliation, Asset Servicing, Cash, Corporate Actions and other operational teams where cross-functional remediation is required.

People Leadership & Performance

• Lead, coach and develop members of the Cash & Trade Settlements team.
• Set clear performance expectations and ensure appropriate allocation of daily workloads.
• Build subject-matter expertise and resilience across critical settlement and cash processes.
• Provide regular coaching, feedback and development opportunities.
• Ensure effective cross-training and succession planning across the function.
• Support recruitment, onboarding and training of new team members.
• Foster a culture of ownership, accountability, continuous improvement and high-quality client service.

Operational Risk & Controls

• Maintain a strong operational control environment across trade and cash processing.
• Identify and escalation potential financial, client, regulatory and reputational risks.
• Ensure processing errors and control failures are investigated promptly and appropriate corrective actions are implemented.
• Maintain effective maker/checker and supervisory controls for high-risk activity.
• Ensure procedures, controls and operational documentation remain accurate and current.
• Support audit, compliance, regulatory and risk reviews where required.

Client & Stakeholder Management

• Act as a senior escalation point for complex cash and settlement issues.
• Manage internal and external client escalations through to resolution.
• Build strong relationships with custodia