Global Head of Custody Operations

U.S. Bank is seeking a Global Head of Custody Operations. The individual in this senior leadership role will be accountable for the front-to-back operational integrity of the firms custody and asset servicing platform. This individual leads a global team responsible for the efficient accurate and compliant safekeeping and servicing of client assets across multiple markets currencies and asset classesincluding trade services Mutual Fund execution support securities settlement Asset Servicing Asset transfers and Global Network Management. Additionally they will provide strategic oversight of the firms sub-custodian network ensuring effective market access provider performance operational resilience and alignment to business and client needs.

Beyond running day-to-day operations this leader is a driver of operating-model transformation: moving the function from end-of-day batch processing toward real-time exception-based management embedding automation and AI into core workflows and strengthening resilience against a compressed post-trade environment. The role balances operational excellence risk mitigation regulatory compliance and client experience while maintaining strong relationships with sub-custodians CSDs business stakeholders clients and regulators.

Key Responsibilities:

Strategy & Operating Model

• Develop and execute the operational strategy and strategic vision for custody operations aligning with business goals client commitments and evolving regulatory requirements.

• Lead the transition from batch-based processing to real-time exception management redesigning workflows to meet compressed settlement timelines (T1 today; T1 in the EU/UK/CH by October 2027).

• Drive digital transformationleveraging RPA workflow automation cloud AI-driven data intelligence and ISO 20022 messagingto raise straight-through-processing (STP) rates and reduce manual intervention.

• Evaluate emerging capabilities including DTCC modernization asset custody and tokenization and shape the firms readiness posture as the market matures.

• Align the function to clear leadership pillars spanning client service financial discipline workforce strategy operational resilience and risk-controlled execution.

Operations Execution

• Oversee accurate and timely processing of securities settlements corporate actions dividend/income collection proxy voting and account reconciliation across global markets.

• Manage settlement fails partial settlement and CSDR penalty exposure through disciplined pre-settlement matching and affirmation practices.

• Ensure robust position keeping and safekeeping controls including omnibus/segregated account structures and 100% asset segregation.

• Provide oversight of Global Network Management including sub-custodian relationships network governance and market resiliency.

• Own the operational client experience including service recovery root-cause resolution and disciplined management of significant client escalations.

Risk Controls & Regulatory

• Identify assess and mitigate operational transaction compliance and credit risk within the custody business maintaining a pristine control environment.

• Ensure compliance with applicable regulations and industry standards (OCC custody guidance DTC/DTCC operational arrangements CSDR settlement discipline).

• Own regulatory reporting obligations and support examinations audits and industry initiatives.

• Ensure operational resiliency through robust business continuity disaster recovery crisis management and third-party contingency programs.

Performance & Metrics

• Monitor and refine KPIs and SLAs to track operational efficiency and effectiveness. Industry benchmarks typically include settlement accuracy 99.5% corporate action processing 100% on-time reporting accuracy 99.9% STP rates exception resolution times (minutes not days) and settlement fail rates against industry standards.

• Use operational metrics volume forecasts productivity analytics and capacity models to inform resource allocation service commitments and investment priorities.

People & Leadership

• Lead mentor and develop a high-performing global team fostering a culture of accountability collaboration ownership and continuous improvement.

• Drive workforce strategy location strategy capacity management succession planning and employee engagement across a geographically distributed workforce.

• Build leadership depth by developing managers clarifying ownership and ensuring the operating model can scale with forecasted client transaction and regulatory demand.

Relationships & Vendor Oversight

• Build and maintain strong relationships with clients investment managers and business stakeholders.

• Manage the global sub-custodian network and third-party service providers including due diligence contract governance and performance oversight.

• Form strategic partnerships with solution providers and cultivate relationships across the market ecosystembanks custodians and regulatory bodies.

• Manage operational budgets expense discipline sourcing decisions productivity initiatives and vendor performance to ensure scalable support for business growth.

• Stay abreast of industry best practices regulatory changes and market developments and contribute to relevant industry committees and forums.

Preferred Skills/Qualifications:

• 15 years of financial services experience preferably in operations within an investment bank asset manager or custodian bank with at least 10 years in leadership (including managing managers).

• Deep expertise across securities processing settlement corporate actions income/tax processing and other custody functions.

• Strong knowledge of relevant regulations and industry best practices (OCC DTC/DTCC CSDR and global market practice).

• Demonstrated experience leading transformation and automation programs to achieve process simplification scalability and better risk management.

• Experience managing operational budgets workforce plans capacity models sourcing decisions and productivity programs in a large-scale operations environment.

• Proven track record across operations risk compliance and technology with experience managing sub-custodian and third-party relationships.

• Experience operating in a compressed high-risk deadline-driven environment with the ability to manage concurrent priorities.

• Excellent communication leadership and stakeholder-management skills with executive presence and a client-centric mindset.

• Strong analytical problem-solving and decision-making capabilities.

Leadership & Management Behavioral Competencies:

• Strong Business Acumen - A strategic thinker who can connect technology investments to business growth and competitive advantage.

• Influencing and empowering others - An influential executive who builds trust and credibility with senior leaders and stakeholders.

• Change Management Advocate - A transformational leader capable of driving large-scale change in dynamic and complex environments.

• Outcome Drive - A collaborative partner who balances innovation risk management and disciplined execution.

• Talent Management - A talent developer committed to building strong teams and future leadership pipelines.