Complex Assets/Alternative Investments Account Manager - Operations Wealth Management

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

SUMMARY

Manage a book of accounts with assets held at outside private fund managers. Responsible for obtaining client statements from those fund managers and updating the client's records at U.S. Bank accordingly. Also responsible for incoming and outgoing cash associated with buy, sell, and income related activities taking place at the fund manager.

RESPONSIBILITIES

Responsible for the management and oversight of Investment Services accounts of various sizes established by clients for various purposes. Account Managers serve as one of the client's primary contacts, delivering a high level of customer service and is responsible for retention and expansion of relationship revenue as well as expense management. Interprets account governing agreements in order to select appropriate coding for the trust accounting system. Instructs Investment Services support staff, New Accounts Team and Trust Operations on the proper coding to ensure accurate administration of accounts. Oversees work processed by Investment Services support staff, Trust Operations and others to ensure activity within accounts is in accordance with governing agreements, regulatory and legal requirements, and within U.S. Bank procedural guidelines relative to new, existing and closing accounts. Regularly interacts with clients, focusing on current and changing needs of the client. Proactively engages clients to identify sales opportunities and enhance existing relationships with the bank. Provides client referrals to Investment Services. Monitors daily cash positions (both positive and negative) ensuring regulatory compliance. Ensures appropriate legal agreements are retained in house and maintains client profile information. Completes relationship and administrative reviews, works with clients to clear any noted exceptions, responds to requests from WM&IS Risk Management, Trust Compliance and Corporate Audit Services in a timely manner. Monitors fee aging reports, works with clients to collect fees payable, resolves customer issues, communicates efforts to Relationship Managers and Regional Coordinators, escalating as needed. Identifies staff training needs, participates in training events, may coach or assist in training Investment Services support staff and less experienced Account Managers. Identifies and executes opportunities to create capacity and efficiencies. Participates on Investment Services and Trust Operations committees and projects. Attends and participates in new business presentations with prospective clients. Assists and supports other Investment Services offices, including an occasional onsite support event.

• Associate's degree or equivalent work experience

PREFERRED

• Thorough knowledge of trust administration, products and sales
• Thorough knowledge of account management, trust operations, project management, and legal regulations
• Ability to develop new business
• Ability to resolve complex problems with minimal guidance
• Excellent interpersonal, verbal and written communication skills

This position is hybrid, i.e., working typically three days per week at the listed U.S. Bank location(s) with flexibility to work remotely the other working days.

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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.

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.

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.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $69,360.00 - $81,600.00 - $89,760.00

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.