Custody Operations Specialist

U.S. Bank; Saint Paul (MN); Hybrid; USD 33,000 - 44,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) retirement plan

Paid vacation

11 paid holidays

Adoption assistance

Paid sick leave

Job summary

U.S. Bank in Saint Paul, MN, is seeking a junior specialist to support the Redemptions Team in cash and asset management for trust accounts. The role involves processing debt retirements, preparing accounting entries, and meeting redemption deadlines across corporate and municipal bonds.

We value applicants with an Associate’s degree or equivalent, attention to detail, and proficiency in Excel. Expect a hybrid work arrangement requiring three days on-site.

Qualifications

• Associate’s degree or technical education, or equivalent work experience.
• Less than two years of related experience.

Responsibilities

• Manage cash and asset movements in trust accounts and ensure proper funding.
• Prepare trust accounting entries and compute debt retirements.
• Support redemption processing with deadlines and workflow.
• Interact with account managers and other units to ensure compliance.
• May involve direct client interaction.

Skills

Investments knowledge

Attention to detail

Excel proficiency

Organization skills

Data entry

Education

Associate’s degree or technical education

Tools

Excel

Trust Accounting systems

Bond Accounting systems

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

This position works within the Global Corporate Trust business unit and supports the Redemptions Team, which is responsible for operational processing related to corporate and municipal bond redemptions. The role supports cash and asset management of trust accounts, preparing trust accounting entries, calculating and executing debt retirements, and completing redemption-related work accurately and on time. The position uses bond financing documents, internal controls, workflow/pipeline tools, and team collaboration to manage assigned work, deadlines, shared inbox responsibilities, and backup coverage.

Key Responsibilities

• Perform cash and asset management of trust accounts, including monitoring balances, valuations, collateral, and proper account funding in compliance with governing trust documents.
• Use bond financing documents and internal controls to interpret the amount and timing of cash and asset movements.
• Prepare trust accounting system entries, calculate and execute debt retirements, and complete account transaction duties.
• Support corporate and municipal bond redemption processing through assigned workflow/pipeline work and established due dates.
• Process rotating redemption product types, including same-day processing requirements when applicable.
• Prioritize multiple deadlines, manage shared inbox responsibilities, and provide backup support for teammates as needed.
• Interact with specialized units to support quality measurements for account managers and help ensure procedures and legal document requirements are met.
• May involve some direct client interaction.

Basic Qualifications

• Associate’s degree or technical education, or equivalent work experience
• Less than two years of related experience

Preferred Skills/Experience

• Working knowledge of investments, accounting transactions, client service, Trust Accounting, and Bond Accounting systems
• Ability to interpret bond financing documents and perform mathematical calculations, including percentages, ratios, and bond interest as applicable
• Experience involving data entry, analytical work, or work requiring strong attention to detail
• Proficient computer navigation skills using a variety of software packages, including Microsoft Excel
• Strong organization skills with the ability to prioritize multiple competing tasks and meet deadlines
• Demonstrated ability to work independently, stay motivated, and manage assigned work without constant oversight
• Experience showing accountability and self-direction
• Interest in improving processes and identifying operational improvements

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. That'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. Our benefits include the following:

• 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: $24.18 - $32.21

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.