Custody Operations Analyst 1
About The Position
Join U.S. Bank’s Global Tax Service team within Wealth Management & Investment Services (WMIS) as a Custody Operations Analyst supporting Relief at Source activities. The role supports clients investing in foreign securities by processing withholding-tax elections and related documentation to help ensure appropriate tax rates are applied under applicable tax treaties. It involves a variety of securities, markets, payment events, record dates, and client situations, with multiple processes and changing circumstances. Specialized tax knowledge is learned on the job; prior domestic or foreign tax experience is beneficial but not required. The position supports day-to-day processing deliverables, issue resolution, operational controls, risk minimization, and customer service. The analyst uses available resources, collaborates with teammates, documents information effectively, and seeks assistance when needed. The position must be performed in the office 60% of work days per week.
Requirements
- Two or more years of related experience.
- Ability to learn custody operations, systems, procedures, products, and services.
- Strong analytical, critical-thinking, and problem-solving skills.
- Ability to manage multiple priorities and meet deadlines in a dynamic environment.
- Strong organizational skills and attention to detailed processes and documentation.
- Effective written and verbal communication skills and the ability to work with teammates, business partners, clients, sub-custodians, managers, and other operations teams.
- Proficiency with Microsoft Office applications, particularly Excel.
- Understanding of applicable regulatory and accounting principles.
- Must work in office 60% of the work days per week.
Nice To Haves
- Bachelor's degree, particularly in finance or accounting.
- Previous domestic or foreign tax experience, or familiarity with withholding tax, investment markets, or tax terminology.
Responsibilities
- Process withholding-tax rate elections for clients across various markets and investments.
- Review client holdings and determine applicable withholding-tax treatment as part of the election process.
- Process and maintain tax and reclaim-related documentation, including certificate-of-residency documentation.
- Use Xceptor Tax Hub to maintain client information, attach tax documents, update reclaim information, and add or close client records.
- Communicate with internal business lines and operations teams, and, depending on assignment and experience, clients and other parties.
- Support day-to-day processing deliverables while identifying and resolving issues.
- Help maintain effective controls, minimize operational risk, and provide a high level of customer service.
- Use available resources, collaborate with teammates, document information effectively, and seek assistance when needed.
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
- Incentive and recognition programs
- Equity stock purchase
- Pension
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
