WCIB Chief Fiduciary Officer

U.S. Bank • Minneapolis, MN

17d

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 U.S. Bank offers Wealth Management and Institutional Trust fiduciary services to our clients through U.S. Bank National Association and several affiliated national bank trust entities. U.S. Bank’s fiduciary products cover the full trust and agency spectrum, including fiduciary trust administration and investment management, investment advisory, directed trustee, trusteed IRA, ERISA trustee, administrative agency, and trust reporting. The WCIB Chief Fiduciary Officer is a named officer for each of the fiduciary trust entities. In addition, this role is responsible for providing holistic oversight for all fiduciary activities within the bank and all of its affiliated entities, including its registered investment advisors. The WCIB Chief Fiduciary Officer will manage a team of risk professionals and regularly interact with senior and executive leadership.

Requirements

• 15+ years’ experience within the financial services industry, and at least 10 years of significant trust administration experience.
• Strong knowledge of trust and fiduciary law, including 12 CFR Part 9.
• Able to act decisively in making solid, informed judgment calls in response to both the technological and critical regulatory environment and the day-to-day business issues.
• Strong emotional intelligence/maturity and senior level executive presence.
• Proven leadership and strategic planning skills.
• Excellent communication and interpersonal abilities.

Nice To Haves

• Knowledge of ERISA and the Investment Advisers Act of 1940 is also beneficial.
• Sophisticated understanding of personal trust services, trust administration, wealth management, investment strategies, and fiduciary risk management.
• Advanced degree and/or certification preferred (JD, CTFA, etc.).

Responsibilities

• Ensures all fiduciary activities meet compliance, legal, and regulatory requirements.
• Monitors compliance with all applicable policies and procedures as well as all applicable state and federal banking and trust laws and regulations; partners with the business units, members of the Law Division, and Compliance as appropriate, providing both consultative and directive guidance.
• Interfaces directly with senior business leaders and the boards of entities exercising fiduciary powers.
• Responsible for overseeing and consulting on firm-wide risk and fiduciary governance processes.
• Acts as liaison with audit teams and regulators to facilitate examination of the fiduciary businesses and processes.
• Ensures relevant, accurate, and clear reporting is provided to effectively identify and address risks and meet fiduciary obligations.
• Ensures products and processes are consistent across delivery channels as appropriate.
• Partners with business unit leaders to support strategic business plans to retain clients, grow business and market trust products.
• Develops internal and external contacts to ensure changes in the industry are monitored, emerging risks are addressed, and market opportunities are identified and evaluated with respect to fiduciary risk.
• Manage a team of Risk Professionals, and have responsibility for staffing, performance management, prioritizing, guidance and training.
• Interact regularly with senior and executive leadership and possess advanced relationship and negotiation skills.

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: Executive
• Education Level: No Education Listed