Global Head of Custody Operations

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 U.S. Bank is seeking a Global Head of Custody Operations. The individual in this senior leadership role will be accountable for the front-to-back operational integrity of the firm's custody and asset servicing platform. This individual leads a global team responsible for the efficient, accurate, and compliant safekeeping and servicing of client assets across multiple markets, currencies, and asset classes—including trade services, Mutual Fund execution support, securities settlement, Asset Servicing, Asset transfers, and Global Network Management. Additionally, they will provide strategic oversight of the firm's sub-custodian network, ensuring effective market access, provider performance, operational resilience, and alignment to business and client needs. Beyond running day-to-day operations, this leader is a driver of operating-model transformation: moving the function from end-of-day batch processing toward real-time, exception-based management, embedding automation and AI into core workflows, and strengthening resilience against a compressed post-trade environment. The role balances operational excellence, risk mitigation, regulatory compliance, and client experience while maintaining strong relationships with sub-custodians, CSDs, business stakeholders, clients, and regulators. Key Responsibilities: Strategy & Operating Model Develop and execute the operational strategy and strategic vision for custody operations, aligning with business goals, client commitments, and evolving regulatory requirements. Lead the transition from batch-based processing to real-time exception management, redesigning workflows to meet compressed settlement timelines (T+1 today; T+1 in the EU/UK/CH by October 2027). Drive digital transformation—leveraging RPA, workflow automation, cloud, AI-driven data intelligence, and ISO 20022 messaging—to raise straight-through-processing (STP) rates and reduce manual intervention. Evaluate emerging capabilities including DTCC modernization, asset custody and tokenization, and shape the firm's readiness posture as the market matures. Align the function to clear leadership pillars spanning client service, financial discipline, workforce strategy, operational resilience, and risk-controlled execution. Operations Execution Oversee accurate and timely processing of securities settlements, corporate actions, dividend/income collection, proxy voting, and account reconciliation across global markets. Manage settlement fails, partial settlement, and CSDR penalty exposure through disciplined pre-settlement matching and affirmation practices. Ensure robust position keeping and safekeeping controls, including omnibus/segregated account structures and 100% asset segregation. Provide oversight of Global Network Management, including sub-custodian relationships, network governance, and market resiliency. Own the operational client experience, including service recovery, root-cause resolution, and disciplined management of significant client escalations. Risk, Controls & Regulatory Identify, assess, and mitigate operational, transaction, compliance, and credit risk within the custody business, maintaining a pristine control environment. Ensure compliance with applicable regulations and industry standards (OCC custody guidance, DTC/DTCC operational arrangements, CSDR settlement discipline). Own regulatory reporting obligations and support examinations, audits, and industry initiatives. Ensure operational resiliency through robust business continuity, disaster recovery, crisis management, and third-party contingency programs. Performance & Metrics Monitor and refine KPIs and SLAs to track operational efficiency and effectiveness. Industry benchmarks typically include settlement accuracy ≥ 99.5%, corporate action processing 100% on-time, reporting accuracy ≥ 99.9%, STP rates, exception resolution times (minutes, not days), and settlement fail rates against industry standards. Use operational metrics, volume forecasts, productivity analytics, and capacity models to inform resource allocation, service commitments, and investment priorities. People & Leadership Lead, mentor, and develop a high-performing global team, fostering a culture of accountability, collaboration, ownership, and continuous improvement. Drive workforce strategy, location strategy, capacity management, succession planning, and employee engagement across a geographically distributed workforce. Build leadership depth by developing managers, clarifying ownership, and ensuring the operating model can scale with forecasted client, transaction, and regulatory demand. Relationships & Vendor Oversight Build and maintain strong relationships with clients, investment managers, and business stakeholders. Manage the global sub-custodian network and third-party service providers, including due diligence, contract governance, and performance oversight. Form strategic partnerships with solution providers and cultivate relationships across the market ecosystem—banks, custodians, and regulatory bodies. Manage operational budgets, expense discipline, sourcing decisions, productivity initiatives, and vendor performance to ensure scalable support for business growth. Stay abreast of industry best practices, regulatory changes, and market developments, and contribute to relevant industry committees and forums. Preferred Skills/Qualifications : 15+ years of financial services experience, preferably in operations within an investment bank, asset manager, or custodian bank, with at least 10 years in leadership (including managing managers). Deep expertise across securities processing, settlement, corporate actions, income/tax processing, and other custody functions. Strong knowledge of relevant regulations and industry best practices (OCC, DTC/DTCC, CSDR, and global market practice). Demonstrated experience leading transformation and automation programs to achieve process simplification, scalability, and better risk management. Experience managing operational budgets, workforce plans, capacity models, sourcing decisions, and productivity programs in a large-scale operations environment. Proven track record across operations, risk, compliance, and technology, with experience managing sub-custodian and third-party relationships. Experience operating in a compressed, high-risk, deadline-driven environment with the ability to manage concurrent priorities. Excellent communication, leadership, and stakeholder-management skills with executive presence and a client-centric mindset. Strong analytical, problem-solving, and decision-making capabilities. Leadership & Management Behavioral Competencies: Strong Business Acumen - A strategic thinker who can connect technology investments to business growth and competitive advantage. Influencing and empowering others - An influential executive who builds trust and credibility with senior leaders and stakeholders. Change Management Advocate - A transformational leader capable of driving large-scale change in dynamic and complex environments. Outcome Drive - A collaborative partner who balances innovation, risk management, and disciplined execution. Talent Management - A talent developer committed to building strong teams and future leadership pipelines. 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: $193,035.00 - $227,100.00 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.