Custody Operations Analyst 1
About The Position
Join U.S. Bank’s Global Tax Service team within Wealth Management & Investment Services 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. This is an operations-focused position involving a variety of securities, markets, payment events, record dates, and client situations. Specialized tax knowledge is learned on the job; prior domestic or foreign tax experience is beneficial but not required. The analyst supports daily processing, helps resolve issues, maintains controls, minimizes operational risk, and provides customer service while collaborating with teammates and internal business partners.
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 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.
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, communicate with 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 coverage, including medical, dental, and vision.
- Basic term and optional term life insurance.
- Short-term and long-term disability coverage.
- Pregnancy disability and parental leave.
- 401(k) and employer-funded retirement plan.
- Paid vacation of 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 hours worked, up to 80 hours per calendar year unless otherwise provided by law.
- Incentive and recognition programs.
- Equity stock purchase, 401(k) contribution, and pension, subject to eligibility requirements.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
