Global Head of Custody Operations

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 firm's 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 firm's 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:

• 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 (T+1 today; T+1 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 firm's 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.

• 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.

• 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.

• 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.

• 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.

• 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.