Custody Operation Specialist - Vault Services
About The Position
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 The Vault Services Clerk is responsible for the accurate handling, processing, and safeguarding of physical assets within the vault. This role ensures compliance with internal controls, audit standards, and regulatory requirements while supporting operational efficiency and client service excellence.
Requirements
- Associate's degree, or equivalent work experience OR
- High school diploma or equivalent and one or more years of relevant experience
Nice To Haves
- Basic understanding of regulatory and accounting principles which directly affect Wealth Management & Investment Services business lines and clients
- Ability to quickly learn custody operational functions, systems, procedures, various products and/or services, for assigned area(s)
- Ability to multitask and meet established deadlines in a dynamic work environment
- Demonstrated analytical, problem-solving, decision-making, and organizational skills
- Effective customer relations, interpersonal, and verbal and written communication skills
- Proficient computer navigation skills using a variety of software packages including Microsoft Office applications
Responsibilities
- Asset Handling & Processing Receive, verify, and log physical securities, bonds, and other financial instruments into vault inventory systems.
- Prepare and execute asset pulls for client transactions, audits, and re-registration projects.
- Maintain dual-control procedures during all vault activities to ensure security and compliance.
- Documentation & Compliance Complete required paperwork for asset transfers, stock/bond powers, and custodial activities.
- Ensure adherence to regulatory standards and internal audit requirements, including timely updates to inventory records.
- Identify and escalate discrepancies or unusual activity per compliance guidelines.
- Operational Support Assist with daily vault balancing and reconciliation of asset positions.
- Support audit readiness by organizing and validating asset documentation.
- Coordinate with internal teams to meet service-level agreements for asset delivery and processing.
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
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
Number of Employees
5,001-10,000 employees
