Depositary Assistant Manager

at  US Bank National Association

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, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive. 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. Try new things, learn new skills and discover what you excel at—all from Day One.
As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.

ABOUT US

U.S. Bank introduced its full depositary services offering in Europe in 2018. The offering supports regulated investment funds domiciled in the EU that are required to appoint a depositary to comply with the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for Collective Investments in Transferable Securities Directive (UCITS). Elavon Financial Services DAC trading as U.S. Bank Depositary Services is authorised and supervised by the Central Bank of Ireland.
U.S. Bancorp, with over 70,000 employees, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States.

EXPERIENCE

• Minimum 6 years relevant Depositary/Trustee industry experience.
• Ideally proven track record with people management and training of team members.
• Third level qualification in Business/Finance/Economics or related area.
• Strong oral and written communication skills.
• Excellent interpersonal with customer focus.
• Strong organisational and administrative skills.
• Ability to multi-task, prioritise work and manage time to maximise efficiency and to meet strict deadlines.
• Flexible / Adaptable.
• Strong UCITS and AIF knowledge with experience in working with Private Equity funds a distinct advantage.
  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:
  We offer an exciting, fast-paced and diverse working environment with employees of many different nationalities. We provide benefits to help you protect your health and financial security; and give you peace of mind. We also invest in your career growth with development resources that give you the opportunity to stretch and shine

Reporting to the Depositary Ireland Lead, all duties are performed in accordance with the Central Bank of Ireland Regulations and the requirements of each fund’s constitutional documentation.

This entails monitoring each fund’s compliance with prospectus based and regulatory investment restrictions and borrowing limits, as well as performing reviews in respect of the role of the administrator and appointed global custodians / prime brokers, managers and ManCOs and AIFMs.

• Support the Management of the Depositary team.
• Experienced Funds Services individual who wishes to move to the next level within Depositary with a growing business in the market.
• Acts as key client service contact for Depositary Services clients including leading on new business take on for certain clients and existing relationships.
• Interested in building out the Depositary team as a European service offering and gain exposure working with the Depositary team in Luxembourg.
• Gain exposure working across multiple products and structures, from UCITS to Alternatives including Hedge and Private Debt.
• Ability to partake and to lead various projects and to work with a dedicated Depositary and Custody Product team to create a ‘top of the class’ service offering.
• Reviews Depositary tasks and take part with discussions and projects with compliance, risk, and internal audit teams.
• Key contributor in department projects and review processes to ensure a seamless and more automated service offering.
• Interact with colleagues, peers and senior management in a way that ensures the ‘end goal’ is achieved in a productive way.
• Reviews the key tasks of cash flow monitoring, investment and borrowing restriction checks, safekeeping of other assets and NAV oversight.
• Work with senior management within Depositary and Business Line Risk to ensure strong control environment in place.
• Support the workflows of the team – including adherence to all mandatory training requirements and ensuring the area is operating to high standards.
• Review the work of the team and ensure it is completed to a high standard.
• Act as a day-to-day contact for clients and attend board meetings as required.
• Train and mentor new staff and involvement in performance discussions and lead 1-1 employee meetings.