Vice President - Head of Collateral & Margin Management - Operations

U.S. Bank; Saint Paul (MN); On-site; USD 127,000 - 149,000; Full time

Job summary

U.S. Bank in Minnesota seeks a VP, Head of Collateral & Margin Management to build and lead the broker-dealer’s collateral operations and margin program.

You will shape the operating model and oversee daily activity, partnering with Trading, Treasury, Risk, Legal, Compliance, Settlements, Finance, and Technology to enable a scalable, well-controlled platform. The role requires strong leadership and expertise in repo financing, haircuts, eligibility, and controls.

Qualifications

• Bachelor’s degree or equivalent practical experience.
• 8+ years of capital markets operations experience, including collateral management, margin operations, repo/securities financing, or related functions.

Responsibilities

• Establish and lead the Collateral & Margin Management team, including operating model, staffing, procedures, controls, service levels, metrics, and escalation governance.
• Oversee daily margin and collateral activity, including call issuance/response, collateral movements, substitutions, eligibility validation, settlement, reconciliations, and exception management.
• Manage collateral disputes and breaks through timely investigation, documentation, escalation, and root-cause remediation.
• Provide operational oversight of collateral supporting repo/reverse repo and other in-scope financing or margin arrangements, including bilateral and tri-party activity where applicable.
• Partner with Trading and Treasury/Funding to improve collateral utilization, liquidity efficiency, and visibility while maintaining required legal, regulatory, risk, and control parameters.
• Establish controls over haircuts, eligibility rules, concentration parameters, margin terms, settlement status, and counterparty exposures as applicable to the operating process.
• Lead requirements and implementation for the future-state margin and collateral management platform, including workflow design, data requirements, UAT, conversion, controls, and production readiness.
• Develop management information and KRIs covering margin calls, disputes, aging, collateral balances, settlement fails, exceptions, capacity, and operational risk.
• Support new products, counterparties, clearing arrangements, and strategic business launches by assessing operational requirements and ensuring end-to-end readiness.
• Maintain strong audit and regulatory readiness through documented procedures, evidence, supervisory controls, issue management, and sustainable remediation.
• Serve as senior operational SME and escalation point for collateral and margin matters and develop team expertise through training, coaching, and cross-training.

Skills

People leadership

Collateral management

Margin operations

Regulated environment

Cross-functional collaboration

Front Office partnership

Change management

Education

Bachelor's degree

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

We encourage growth - and reward the journey

The Vice President, Head of Collateral & Margin Management will build and lead the broker-dealer’s dedicated collateral and margin operations capability. The role is responsible for the control, execution, and strategic development of margin and collateral processes supporting secured financing and other in-scope products. This leader will partner closely with Trading, Treasury/Funding, Risk, Legal, Compliance, Settlements, Finance, Technology, clearing banks, custodians, and counterparties to deliver a scalable, well-controlled platform that supports business growth.

Key Responsibilities

• Establish and lead the Collateral & Margin Management team, including operating model, staffing, procedures, controls, service levels, metrics, and escalation governance.
• Oversee daily margin and collateral activity, including call issuance/response, collateral movements, substitutions, eligibility validation, settlement, reconciliations, and exception management.
• Manage collateral disputes and breaks through timely investigation, documentation, escalation, and root-cause remediation.
• Provide operational oversight of collateral supporting repo/reverse repo and other in-scope financing or margin arrangements, including bilateral and tri-party activity where applicable.
• Partner with Trading and Treasury/Funding to improve collateral utilization, liquidity efficiency, and visibility while maintaining required legal, regulatory, risk, and control parameters.
• Establish controls over haircuts, eligibility rules, concentration parameters, margin terms, settlement status, and counterparty exposures as applicable to the operating process.
• Lead requirements and implementation for the future-state margin and collateral management platform, including workflow design, data requirements, UAT, conversion, controls, and production readiness.
• Develop management information and KRIs covering margin calls, disputes, aging, collateral balances, settlement fails, exceptions, capacity, and operational risk.
• Support new products, counterparties, clearing arrangements, and strategic business launches by assessing operational requirements and ensuring end-to-end readiness.
• Maintain strong audit and regulatory readiness through documented procedures, evidence, supervisory controls, issue management, and sustainable remediation.
• Serve as senior operational SME and escalation point for collateral and margin matters and develop team expertise through training, coaching, and cross-training.

_ Basic Qualifications _

• Bachelor’s degree or equivalent practical experience.
• 8+ years of relevant capital markets operations experience, including significant experience in collateral management, margin operations, repo/securities financing, or related functions.

_ Preferred Skills/Experience _

• Demonstrated people leadership and experience operating in a regulated broker-dealer or comparable institutional markets environment.
• Strong knowledge of margin calls, collateral movements, substitutions, reconciliations, disputes, settlement, eligibility, and haircut concepts.
• Experience partnering with Front Office, Treasury/Funding, Risk, Legal, Compliance, Technology, and external market infrastructure providers.
• Experience with bilateral and tri-party repo, secured financing, fixed income products, and collateral optimization.
• Experience implementing or transforming a collateral/margin platform and designing operational controls around the technology.
• Knowledge of U.S. broker-dealer regulatory and control requirements affecting margin, collateral, customer protection, capital, and secured financing operations.
• Experience supporting audits, regulatory examinations, new-product approvals, and large-scale change programs.
• FINRA registration(s) relevant to assigned supervisory responsibilities, or ability to obtain if required by the position.

_ 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 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: $126,820.00 - $149,200.00

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.