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Trade Settlement/Repo Work Lead - Wealth Operations

U.S. Bank

Saint Paul, MN

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JOB DETAILS
SALARY
$86,360–$101,600 Per Year
SKILLS
Accounting, Bank Secrecy Act, Banking Services, Brokerage, Capital Markets, Communication Skills, Community Support, County Ordinances, Customer Support/Service, Detail Oriented, Direct Lending, Disability Accommodations, E Programming Language, Facilities Management, Finance, Fixed Income Investments, Funding, Healthcare, Homeland Security, Insurance, Leadership, Loan Servicing, Marketing/Sales Collateral, Mentoring, Operational Support, Operations Processes, Presentation/Verbal Skills, Safety Process, Safety/Work Safety, Sales, Secondary Markets, Securities, Series 7, System Operations, Team Player, Time Management, Treasury, Underwriting, United States Citizenship and Immigration Services (USCIS), Writing Skills
LOCATION
Saint Paul, MN
POSTED
30+ days ago
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


Inspire, excel and grow with us


USBI is a major underwriter and secondary market dealer and market maker of high grade and high yield corporate debt. The firm is also a prominent dealer and remarketing agent of municipal securities as well as ABS, structured notes and CDs, CLOs, etc. The firm has a large and quickly expanding repo desk. It offers FICC’s sponsored repo service to its clients, as well as tri-party settlement and is migrating to a general collateral service. US Treasuries play a prominent role in repo processing and collateral management as does corporate debt. This position will be at the center of operational process support for a very rapidly growing funding and repo business. Over time the role may evolve into a utility player as additional products and processes come into scope for the larger capital markets business and trading desks.


This position reports to the Assistant Vice President of Purchase & Sales and Settlements.


_Responsibilities: P&S and Settlements Functions_


+ Ensure that outright trades in US Treasuries and repo and reverse repo trades with US Treasuries as collateral are submitted, compared, novated and netted appropriately and correctly at the FICC-GSD

+ Ensure that deliveries and receives of US Treasuries are made correctly and timely at the Bank of New York for bi-lateral, tri-party and FICC netted trades.

+ Work with middle office and contra-parties on fail cleanup and fail management

+ Work with the business and project teams on large scale projects relate to central clearing of US Treasuries, continued build out of sponsored repo, general collateral facility, collateral management upgrades, etc.

+ Assist the corporate team with National Security Clearing Corporation comparisons, CNS and DTC settlements and fail management.

+ Assist the department manager on a variety small and large initiatives and projects


_Schedule_ : Monday - Friday 8:00am - 5:00pm Local time - required flexibility


_Location_ : 3+ days in Charlotte or Saint Paul; 2 days remote


_Basic Qualifications_


+ Bachelor's degree in Accounting, Finance, or Business Management, or equivalent work experience

+ Four to six years of related experience or direct loan servicing experience


_Preferred Skills/Experience_


+ 5+ years of broker dealer securities operations experience ideally in a clearing and/or settlements area with experience and knowledge of DTCC related products and functionality.

+ Good product knowledge of fixed income securities

+ Experience and knowledge of repo processing

+ Leadership and mentoring skills

+ Must have strong attention to detail and ability to work calmly under pressure

+ Must have excellent verbal and written communication skills; ability to present professionally and articulately to groups and to senior management, as needed

+ Bachelor’s degree required.

+ Series 7 and 99 preferred

+ Team player, takes ownership and excellent communication


_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 (https://careers.usbank.com/global/en/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 (some may vary based on role, location or hours):


+ 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


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 (https://careers.usbank.com/verification-of-eligibility-for-employment) .


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: $86,360.00 - $101,600.00


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.

About the Company

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U.S. Bank