Assistant General Counsel - Benefits & Compensation

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 Assistant General Counsel - Benefits & Compensation
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.
U.S. Bank is seeking an ERISA & Compensation attorney to join U.S. Bank's Employment & Immigration team. The role requires good judgment, a commitment to building cross-functional relationships and a strong work ethic. The primary function of this role is to provide advice and counsel to the bank, its plan-administration committee, its investment committee, and Human Resources support staff on the establishment and maintenance of the bank's in-house 401(k) and pension plans, non-qualified deferred compensation plans, and health and welfare benefits programs for the bank's own employees. Additionally, this role will advise on executive compensation matters, including equity compensation plans, annual and long-term incentive plans, executive compensation arrangements, fringe benefits, and compensation-related disclosures and filings. The role reports to the Chief Employment Counsel and will work closely with the Office of Corporate Secretary on executive compensation matters.
The successful candidate must be able to work independently and as part of a collaborative team, providing practical recommendations.
RESPONSIBILITIES:

• Provide legal advice related to design, implementation, compliance, and administration on a variety of employee benefits matters, including defined benefit pension plans, 401(k) plans, non-qualified deferred compensation plans and arrangements, equity and other income plans, health and welfare benefits programs, and compliance with fiduciary, tax, insurance, and other applicable laws.
• Draft compensation-related portions of annual proxy statements, periodic reports, board resolutions, prospectuses and summary plan descriptions, and related filings.
• Advise on SEC executive and director compensation disclosure requirements, including Section 16 filings.
• Provide benefits and compensation support for M&A transactions, including due diligence, pre-close readiness preparation and post-close implementation.
• Act as legal counsel to the bank and its benefit plan committees, including, but not limited to, advice on fiduciary compliance and preparation of meeting minutes.
• Draft and edit plan documents, award agreements, disclosure notices and other related documents to ensure compliance with all legal and regulatory requirements, including the Internal Revenue Code, the Employee Retirement Income Security Act, and applicable securities laws.
• Stay up-to-date on legal and regulatory changes related to compliance and benchmark within the industry on practices and trends and, as appropriate, recommend changes to plan design, administration, and investment, and changes to compliance and risk-management practices.
• Advise on interpreting plan documents, adjudicating benefits, deciding participant claim appeals, making disclosures to participants, responding to participant inquiries, and selecting and monitoring third-party administrators.
• Advise on establishing and implementing investment policies and guidelines, selecting and monitoring investment advisers and managers, allocating plan assets, and maintaining a menu of participant investment options.
• Advise on reporting to the SEC, DOL, IRS, and other governmental entities.
• Advise on responding to litigation and regulatory inquiries and agency audits.
• Manage outside employee benefits counsel engagements, as needed.

PREFERRED SKILLS/EXPERIENCES:

• Ability to articulate important legal concerns and principles to non-lawyers in practical terms
• Excellent organizational and prioritization skills
• Strong attention to detail, editing and proofreading skills
• Strong critical thinking and analytical reasoning skills, with the ability to provide alternate approaches and solutions
• Familiarity with executive compensation issues

BASIC QUALIFICATIONS

• Juris Doctorate
• 8+ years of employee benefits and compensation experience in-house or at a law firm advising plan fiduciaries
• License to practice law in state of residence
• Deep knowledge of ERISA, the IRC (including Section 409A), DOL, SEC, and IRS regulations, and other applicable employee benefits and executive compensation laws and regulations
• Ability to work efficiently in a very fast-paced environment
• Strong written and oral communication skills

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Learn how the way we work at U.S. Bank drives meaningful relationships with our customers and collaboration across the company.
Benefits:
Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• 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

EEO is the Law
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. Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.