At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.Job Description
U.S. Bank's Law Division is a seeking a lawyer who is authorized to practice law in the United States, is in good standing with the appropriate U.S. state-licensing authority, and has 5 to 10 recent years of experience practicing law in a financial institution's legal department or at a law firm advising financial institutions for a full-time attorney position. This position advises U.S. Bank's Trust Technology and Support Services division within U.S. Bank's Wealth Management and Investment Services division, is based in St. Paul, Minnesota (although other U.S. locations will be considered), and reports to the chief counsel of U.S. Bank's Institutional Trust and Custody Division.
U.S. Bank offers its trust and custody clients (1) a global custody network which facilitates holding account assets in approximately 120 markets around the world, (2) foreign-securities trading services through U.S. Bank's and its sub-custodians' membership in central securities depositories, as well as related services such as FX transactions, cash sweep, proxy-voting, and tax-processing, and (3) a platform of non-proprietary offshore funds, and U.S. Bank is developing (4) cryptocurrency-custody services. U.S. Bank also offers (5) U.S. sub-custodial services for its foreign affiliates that serve as depositary to Irish and Luxembourg funds. Customer types include domestic and foreign operating businesses, financial institutions, governments, consumers, mutual funds, and private funds, as well as a UCITS fund-depositary and an AIFMD fund-depositary.
In connection with those products and services, this position (1) supports U.S. Bank's selection and monitoring of U.S. and foreign sub-custodians and negotiates the sub-custody agreements; (2) supports U.S. Bank's membership in central securities depositories and advises on foreign-securities trading and related services; (3) supports fund-trading operations with offshore funds and negotiates the shareholder-services agreements; and (4) supports U.S. Bank's cryptocurrency-custody development efforts. This position also (5) supports U.S. sub-custody services for Irish and Luxembourg fund-depositaries. This position also assists in supporting domestic securities operations.
This position's roles include consulting with customer-facing, operations, risk-management, and compliance staff; advising on compliance with legal requirements; drafting legal memos; recommending procedures, compliance practices, and product-changes; negotiating service contracts; and engaging local legal counsel in foreign jurisdictions. Relevant laws include U.S. banking and securities laws (including the OCC's Reg. 9, the SEC's Regulation R, and the Investment Company Act of 1940), the SEC's offshore-funds regulation (Regulation S), foreign banking and securities laws in the jurisdictions where U.S. Bank's sub-custodians operate and where customers that purchase offshore funds are domiciled, and foreign regulations that impact U.S. Bank's activities.
Experience advising global custodians is preferred.
Provides advice, guidance and counsel at an advanced level of sophistication on a broad scope of complex legal matters or problems to the general counsel and corporate executives. Leads and executes complex legal projects within the company. Represents the company in complex legal matters and/or has significant interaction with government regulators. Works independently and has advanced expertise in a specific area of the law.
- Law degree
- Licensed in good standing to practice law in at least one jurisdiction
- Advanced knowledge of operations of business unit(s), products, policies and relation to industry
- Well-developed leadership abilities and strategic management skills
- Excellent analytical, decision-making and problem-solving skills
- Excellent verbal and written communication skills
- Advanced client management, diplomacy and people skills
Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.
Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting usbank.com/careers.
EEO is the Law
Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.
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