Custody Operations Analyst 1CategoryBanking OperationsJob Paul, MN, Unit

Custody Operations AnalystJoin our Global Tax Service team within Wealth Management & Investment Services (WMIS) as a Custody Operations Analyst supporting Relief at Source activities. In this role, you will help support clients investing in foreign securities by processing withholding-tax elections and related documentation to help ensure appropriate tax rates are applied under applicable tax treaties.This is an operations-focused position where you'll work with a variety of securities, markets, payment events, record dates, and client situations. The work involves multiple processes and changing circumstances, making this a good opportunity for someone who enjoys learning, problem-solving, and working through detailed financial information rather than performing the same transaction repeatedly.You do not need to enter the role as a tax expert. Much of the specialized knowledge is learned on the job, and previous domestic or foreign tax experience is considered beneficial rather than required.What You'll DoProcess withholding-tax rate elections for clients across various markets and investments.Review client holdings and determine applicable withholding-tax treatment as part of the election process.Process and maintain tax and reclaim-related documentation, including certificate-of-residency documentation.Use Xceptor Tax Hub to maintain client information, attach tax documents, update reclaim information, and add or close client records.Communicate with internal business lines and operations teams, with opportunities to communicate with clients and other parties depending on the assignment and experience level.Support day-to-day processing deliverables while identifying and resolving issues.Help maintain effective controls, minimize operational risk, and provide a high level of customer service.Use available resources, collaborate with teammates, document information effectively, and seek assistance when needed.Basic QualificationsTwo or more years of related experience.Preferred Skills and ExperienceBachelor's degree, with finance or accounting being particularly relevant to the work.Ability to learn custody operations, systems, procedures, products, and services.Strong analytical, critical-thinking, and problem-solving skills.Ability to manage multiple priorities and meet deadlines in a dynamic environment.Strong organizational skills and attention to detailed processes and documentation.Effective written and verbal communication skills and the ability to work with teammates, business partners, clients, sub-custodians, managers, and other operations teams.Proficiency with Microsoft Office applications, particularly Excel.Understanding of applicable regulatory and accounting principles.Previous domestic or foreign tax experience, or familiarity with withholding tax, investment markets, or tax terminology, is a plus but not required.Location ExpectationsMust work in office 60% of the work days per week.Benefits:Healthcare (medical, dental, vision)Basic term and optional term life insuranceShort-term and long-term disabilityPregnancy disability and parental leave401(k) and employer-funded retirement planPaid vacation (from two to five weeks depending on salary grade and tenure)Up to 11 paid holiday opportunitiesAdoption assistanceSick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by lawU.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.