Custody Network Manager

U.S. Bank; Boston (MA); Hybrid; USD 111,000 - 135,000; Full time

Job summary

U.S. Bank is seeking a Custody Network Manager to lead a global network of sub-custodian banks, cash correspondents, and market infrastructure providers across international markets.

You will influence client access to markets, oversee banking relationships, and drive strategic initiatives for growth and risk management. This role requires collaboration with Risk, Compliance, Legal, Tax, Operations, Treasury, and Information Security teams to ensure adherence to standards and regulatory

Qualifications

• Bachelor’s degree in Finance, Business, Economics, or a related field required.
• 5+ years of experience in Global Custody, Network Management, Securities Services, or related financial services.
• Fluency in English required; additional languages preferred; willingness to travel about 10%.

Responsibilities

• Develop and manage relationships with sub-custodian banks, cash correspondents, central securities depositories, and market infrastructure providers worldwide.
• Lead RFI and RFP initiatives to identify, evaluate, and select service providers.
• Negotiate custody agreements, correspondent banking documentation, SLAs, and fee structures.
• Oversee provider performance, financial stability, operational resilience, and regulatory standing.
• Serve as primary escalation point for significant custody, settlement, cash, and operational issues.
• Identify opportunities to strengthen network capabilities, improve service delivery, reduce costs, and mitigate risk.
• Support market openings, business expansion, and product launches.

Skills

Global custody knowledge

Relationship management

Contract negotiations

Risk oversight

Analytical thinking

Presentation skills

Client service orientation

Education

Bachelor's degree in Finance/Business/Economics

Advanced degree preferred

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.

Shape the Future of Global Custody

Are you passionate about global financial markets, strategic partnerships, and delivering world-class client solutions? U.S. Bank is seeking an experienced Custody Network Manager to lead and optimize our global network of sub-custodian banks, cash correspondents, and market infrastructure providers across nearly 100 international markets. In this high-impact role, you will influence how clients access global markets, oversee critical banking relationships, manage risk across international jurisdictions, and drive strategic initiatives that support the continued growth of U.S. Bank's Global Custody business. If you thrive in a dynamic global environment and enjoy solving complex challenges while building influential partnerships, this opportunity is for you.

What You'll Do

Global Network Management & Strategic Partnerships

• Develop and manage relationships with sub-custodian banks, cash correspondents, central securities depositories, and other market infrastructure providers worldwide.
• Lead RFI and RFP initiatives to identify, evaluate, and select best-in-class service providers.
• Negotiate custody agreements, correspondent banking documentation, service level agreements, and fee structures.
• Oversee provider performance, financial stability, operational resilience, and regulatory standing.
• Serve as the primary escalation point for significant custody, settlement, cash, and operational issues.
• Identify opportunities to strengthen network capabilities, improve service delivery, optimize costs, and reduce risk.
• Support new market openings, business expansion initiatives, and product launches.

Risk, Governance & Regulatory Oversight

• Perform comprehensive due diligence and ongoing risk assessments of network providers.
• Monitor geopolitical developments, regulatory changes, market infrastructure evolution, and emerging operational risks.
• Partner with Risk, Compliance, Legal, Tax, Operations, Treasury, and Information Security teams to ensure adherence to enterprise standards and regulatory requirements.
• Support audits, governance reviews, regulatory examinations, and client due diligence requests.
• Promote a culture of accountability, ethics, risk awareness, and client focus.

Market Intelligence & Client Advisory

• Serve as a subject matter expert on assigned markets, settlement practices, market infrastructure, and regulatory environments.
• Maintain market intelligence, risk assessments, and best-practice guidance for internal and external stakeholders.
• Publish market updates, operational alerts, and regulatory notifications affecting clients and business partners.
• Deliver presentations, market briefings, and strategic insights on market developments and industry trends.
• Advise clients and internal stakeholders on market access, custody solutions, and local market practices.

Business Growth & Industry Engagement

• Collaborate with Product, Sales, Relationship Management, Operations, FX, Treasury, and other key business partners to support client and growth initiatives.
• Represent U.S. Bank in industry forums, governance meetings, market advocacy groups, and client events.
• Support business development efforts, client due diligence meetings, and strategic growth opportunities.
• Monitor industry developments, including digital assets, market modernization, settlement reform, and operational resiliency initiatives.

Why This Role Matters

The Global Network Management team serves as a critical link between U.S. Bank and the global financial marketplace. By managing strategic relationships with banking and market infrastructure partners around the world, the team enables client access to international markets, supports new business opportunities, and helps mitigate operational, regulatory, and counterparty risk. Your work will directly contribute to:

• Expanding global market access for clients.
• Supporting international custody and securities services.
• Strengthening strategic banking partnerships.
• Enhancing operational efficiency and risk management.
• Driving revenue growth and new business opportunities.

Basic Qualifications

Bachelor’s degree in Finance, Business, Economics, or a related field required; advanced degree preferred.

5+ years of experience in Global Custody, Network Management, Securities Services, Correspondent Banking, Capital Markets, or related financial services.

Preferred Skills/Experience

Strong knowledge of global custody, sub-custody, cash correspondent banking, market infrastructure, settlement practices, EU depositary services, and prime brokerage.

Proven experience in relationship management, contract negotiations, provider due diligence, and third-party risk oversight.

Solid understanding of global regulatory frameworks, operational risk, and securities market practices.

Demonstrated ability to influence senior executives, clients, market entities, and strategic partners.

Strong analytical, problem solving, decision-making, and strategic thinking capabilities.

Excellent written, verbal, and presentation skills, with the ability to communicate complex topics effectively.

Strong client-service orientation and ability to manage multiple priorities in a global environment.

Knowledge of geopolitical developments and global financial markets.

Fluency in English required; additional languages preferred.

Willingness to travel domestically and internationally (approximately 10%).

Location Expectations

This role requires working from a U.S. Bank location three (3) or more days per week.

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. It'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.

• 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.

Equal Opportunity Employer

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.

Pay Range

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: $110,700.00 - 135,300.00

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.