Fund Administration Supervisor

U.S. Bank; Boston (MA); Hybrid; USD 98,000 - 116,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

Life insurance

Retirement plan (401(k))

Paid vacation

Job summary

U.S. Bank is seeking a Fund Administration Compliance & Regulatory Supervisor to lead a team ensuring ETF, mutual fund, and other registered funds meet regulatory requirements, policy limits, and client guidelines. You will oversee testing, reporting, and audits while guiding staff on regulatory changes.

The role emphasizes accuracy, accountability, and collaboration with clients and internal teams, including leading training and improvements in compliance processes.

Qualifications

• Bachelor's degree in accounting, finance or related field.
• CPA certified or candidate.
• Eight or more years of experience in Mutual Fund Administration or related field, i.e., public accounting.

Responsibilities

• Lead and supervise a team responsible for monitoring compliance with regulatory requirements, prospectus restrictions, investment policies, and internal controls, including fund compliance programs, regulatory filings, and board reporting.
• Oversee daily, weekly, and periodic compliance testing for mutual funds, ETFs, closed-end funds, and other registered investment products.
• Review and approve compliance reporting deliverables, exception reports, and regulatory monitoring results.
• Ensure timely identification, escalation, documentation, and resolution of compliance exceptions and regulatory breaches.
• Maintain documentation supporting compliance testing methodologies, procedures, and controls.
• Provide training and technical guidance to staff regarding regulatory and procedural changes.
• Evaluate existing procedures and implement process improvements to enhance efficiency and compliance.
• Support business growth initiatives, including participation in new client or product activities.

Skills

Regulatory compliance

Fund administration

Leadership

Education

Bachelor's degree in accounting, finance 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.

Job Description

As a Fund Administration Compliance & Regulatory Supervisor, you will lead a team responsible for ensuring registered investment companies comply with regulatory requirements, prospectus limitations, internal policies, and client-specific guidelines. You will oversee daily compliance monitoring activities, regulatory reporting, issue resolution, and audit support while serving as a subject matter expert on registered fund compliance matters for exchange-traded fund (“ETF”), mutual fund, closed end fund and/or business development company clients. In Fund Administration, we value clients first and employees always. We take pride in doing the right thing each and every day in a fun, challenging and fulfilling environment. Our leadership and team mentors are committed to you, and we will provide you with an array of resources and teaching methodologies to help you succeed and grow as a financial professional and future leader.

Key Responsibilities

• Lead and supervise a team responsible for monitoring compliance with regulatory requirements, prospectus restrictions, investment policies, and internal controls, including fund compliance programs, regulatory filings, and board reporting.
• Oversee daily, weekly, and periodic compliance testing for mutual funds, ETFs, closed-end funds, and other registered investment products.
• Review and approve compliance reporting deliverables, exception reports, and regulatory monitoring results.
• Ensure timely identification, escalation, documentation, and resolution of compliance exceptions and regulatory breaches.
• Maintain documentation supporting compliance testing methodologies, procedures, and controls.
• Provide training and technical guidance to staff regarding regulatory and procedural changes.
• Evaluate existing procedures and implement process improvements to enhance efficiency and compliance.
• Support business growth initiatives, including participation in new client or product activities.

Basic Qualifications

• Bachelor's degree in accounting, finance or related field.
• CPA certified or candidate.
• Eight or more years of experience in Mutual Fund Administration or related field, i.e., public accounting.

Preferred Skills/Experience

• Advanced knowledge of legal, regulatory, and accounting principles affecting registered investment funds.
• Strong understanding of the Investment Company Act of 1940, Subchapter M of the Internal Revenue Code, and applicable state securities regulations.
• Demonstrated experience managing and developing professional staff.
• Strong organizational skills with the ability to manage complex, long‑term projects.
• Excellent written and verbal communication skills with significant client interaction.
• Proficiency with Microsoft Office and standard PC applications.
• Strong commitment to ethics, compliance, and internal control standards.

Location & Work Arrangement

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

• 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

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.

Immigration & 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.

Salary

Pay Range: $98,175.00 - $115,500.00

Background Checks & Compliance

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.

Application Notice

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

Company Vision

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.