Closed-End Fund Senior Administrator

U.S. Bank; Philadelphia (Philadelphia County); Hybrid; USD 86,000 - 102,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) and employer-funded retirement

Paid vacation

Job summary

U.S. Bank is seeking a Senior Administrator to lead the day-to-day governance and financial administration of closed-end fund clients. You will oversee complex fund structures, coordinate with service providers, and ensure timely regulatory filings and GAAP-compliant reporting.

This hybrid role requires strong project leadership, deep knowledge of registered investment companies, and the ability to manage multiple priorities while upholding quality and client service.

Qualifications

• Bachelor's degree in accounting or finance, or equivalent work experience.
• Eight or more years of related work experience.

Responsibilities

• Lead the administration of assigned closed-end fund client relationships and serve as primary contact for operational, financial reporting, and regulatory matters.
• Oversee fund expense management, budgeting activities, and analysis of operating trends against contractual agreements and fee structures.
• Review and coordinate the preparation of shareholder reports, financial statements, SEC filings, and other regulatory reporting requirements in accordance with GAAP and applicable regulations.
• Coordinate and review board and committee meeting materials, including presentations, supporting schedules, and governance reporting.
• Monitor and review fund compliance programs to ensure adherence to regulatory requirements, investment restrictions, prospectus limitations, and applicable tax regulations.

Skills

Microsoft Excel

Education

Bachelor's degree in accounting or finance, or equivalent work experience

Bachelor's degree in Accounting, Finance, Business Administration, or related field

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 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.

Position Summary

As a Closed-End Fund Senior Administrator, you will serve as a senior member of a servicing team responsible for the day-to-day financial, regulatory, and governance administration of closed-end fund clients. You will lead the administration of complex fund structures, coordinate with internal and external service providers, oversee financial reporting and regulatory filings, and act as a trusted resource for clients and teammates. This role requires strong technical expertise, project leadership, and the ability to manage multiple priorities while maintaining a commitment to quality, compliance, and client service.

Key Responsibilities

• Lead the administration of assigned closed-end fund client relationships and serve as a primary contact for operational, financial reporting, and regulatory matters.
• Oversee fund expense management, budgeting activities, and analysis of operating trends against contractual agreements and fee structures.
• Review and coordinate the preparation of shareholder reports, financial statements, SEC filings, and other regulatory reporting requirements in accordance with GAAP and applicable regulations.
• Coordinate and review board and committee meeting materials, including presentations, supporting schedules, and governance reporting.
• Monitor and review fund compliance programs to ensure adherence to regulatory requirements, investment restrictions, prospectus limitations, and applicable tax regulations.
• Act as liaison among investment advisors, fund accountants, custodians, transfer agents, legal counsel, auditors, and other service providers to facilitate effective fund operations.
• Lead or support complex initiatives, including fund launches, reorganizations, mergers, tender offers, rights offerings, liquidations, and other strategic projects.
• Identify operational risks, recommend corrective actions, and drive process improvements to strengthen controls, efficiency, and service quality.
• Coordinate internal and external audits and support regulatory examinations.
• Provide technical guidance, mentoring, and training to junior team members and serve as a subject matter expert on closed-end fund administration matters.
• Participate in departmental initiatives, technology enhancements, and strategic projects that improve the client and employee experience.

Basic Qualifications

• Bachelor's degree in accounting or finance, or equivalent work experience
• Eight or more years of related work experience

Preferred Qualifications

• Bachelor's degree in Accounting, Finance, Business Administration, or related field.
• Extensive experience in registered fund accounting, fund administration, financial reporting, or regulatory compliance.
• Strong understanding of closed-end funds, investment products, and securities markets.
• Advanced knowledge of legal, regulatory, and accounting requirements applicable to registered investment companies, including the Investment Company Act of 1940 and Subchapter M of the Internal Revenue Code.
• Proven ability to lead complex client relationships and manage multiple concurrent priorities.
• Strong analytical, organizational, and project management skills.
• Excellent written and verbal communication skills with significant client interaction.
• Advanced proficiency in Microsoft Excel and other Microsoft Office applications.
• Demonstrated commitment to ethics, compliance, risk management, and internal controls.

Success Factors

• Exhibits strong ownership and accountability.
• Builds trusted relationships with clients and business partners.
• Demonstrates sound judgment and risk awareness.
• Effectively mentors and develops teammates.
• Drives continuous improvement and operational excellence.

The role 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.

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

• 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

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

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: $86,360.00 - $101,600.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

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