Trade Settlement/Repo Work Lead - Wealth Operations

U.S. Bank • Saint Paul, MN

17d • Hybrid

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 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.

Requirements

• 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
• 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.
• Team player, takes ownership and excellent communication

Nice To Haves

• 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
• Series 7 and 99 preferred

Responsibilities

• 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

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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees