Custody Operations Analyst 1

U.S. Bank; Saint Paul (MN); On-site; USD 65,000 - 76,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) and employer-funded retirement

Paid vacation and holidays

Disability insurance

Job summary

U.S. Bank is seeking a Custody Operations Analyst within the Global Tax Service team in WMIS to support Relief at Source activities for clients investing in foreign securities.

You will handle withholding-tax elections, documentation, and tax-related processes while learning custody operations and regulatory basics on the job. The role emphasizes analytical problem-solving and collaboration with multiple internal teams, with a focus on accuracy and timely processing of tax documentation and

Qualifications

• Two or more years of related experience.
• Ability to learn custody operations, systems, procedures, products and services.
• Strong analytical, critical-thinking, and problem-solving skills.
• Ability to manage multiple priorities and meet deadlines in a dynamic environment.
• Effective written and verbal communication and ability to work with teammates and partners.

Responsibilities

• Process withholding-tax rate elections for clients across markets and investments.
• Review client holdings and determine applicable withholding-tax treatment as part of the election process.
• Process and maintain tax and reclaim-related documentation, including certificate-of-residency documentation.
• Use Xceptor Tax Hub to maintain client information, attach tax documents, update reclaim information, and add or close client records.
• Communicate with internal business lines and operations teams; opportunities to interact with clients depending on assignment and experience.
• Support day-to-day processing deliverables while identifying and resolving issues.
• Help maintain controls, minimize operational risk, and provide a high level of customer service.
• Collaborate with teammates, document information effectively, and seek assistance when needed.

Skills

Analytical skills

Problem-solving

Multi-tasking

Microsoft Excel

Communication

Education

Bachelor's degree in Finance or Accounting

Tools

Microsoft Office

Microsoft Excel

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.

Job Description

Join our Global Tax Service team within Wealth Management & Investment Services (WMIS) as a Custody Operations Analyst supporting Relief at Source activities. In this role, you will help support clients investing in foreign securities by processing withholding-tax elections and related documentation to help ensure appropriate tax rates are applied under applicable tax treaties. This is an operations-focused position where you'll work with a variety of securities, markets, payment events, record dates, and client situations. The work involves multiple processes and changing circumstances, making this a good opportunity for someone who enjoys learning, problem-solving, and working through detailed financial information rather than performing the same transaction repeatedly. You do not need to enter the role as a tax expert. Much of the specialized knowledge is learned on the job, and previous domestic or foreign tax experience is considered beneficial rather than required.

What You’ll Do

• Process withholding-tax rate elections for clients across various markets and investments.
• Review client holdings and determine applicable withholding-tax treatment as part of the election process.
• Process and maintain tax and reclaim-related documentation, including certificate-of-residency documentation.
• Use Xceptor Tax Hub to maintain client information, attach tax documents, update reclaim information, and add or close client records.
• Communicate with internal business lines and operations teams, with opportunities to communicate with clients and other parties depending on the assignment and experience level.
• Support day-to-day processing deliverables while identifying and resolving issues.
• Help maintain effective controls, minimize operational risk, and provide a high level of customer service.
• Use available resources, collaborate with teammates, document information effectively, and seek assistance when needed.

Basic Qualifications

• Two or more years of related experience.

Preferred Skills and Experience

• Bachelor's degree, with finance or accounting being particularly relevant to the work.
• Ability to learn custody operations, systems, procedures, products, and services.
• Strong analytical, critical-thinking, and problem-solving skills.
• Ability to manage multiple priorities and meet deadlines in a dynamic environment.
• Strong organizational skills and attention to detailed processes and documentation.
• Effective written and verbal communication skills and the ability to work with teammates, business partners, clients, sub-custodians, managers, and other operations teams.
• Proficiency with Microsoft Office applications, particularly Excel.
• Understanding of applicable regulatory and accounting principles.
• Previous domestic or foreign tax experience, or familiarity with withholding tax, investment markets, or tax terminology, is a plus but not required.

Location Expectations

Must work in office 60% of the work 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

• 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

Pay Range: $64,855.00 - $76,300.00

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.

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.