Global Custody Senior Tax Strategist

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The Global Custody Senior Tax Specialist is a senior leadership and subject-matter expert role responsible for establishing and advancing the global custody tax strategy for U.S. Bank’s Custody Asset Managers business.

Essential Functions

Global Custody Tax Strategy & Market Expertise

·   Own and maintain the business-line strategy and multi-year roadmap for global custody tax services, including withholding tax, relief at source, quick refund, tax reclaims and related investor documentation across global markets.

·   Maintain authoritative knowledge of market-specific withholding regimes, tax treaties, beneficial-owner and investor eligibility rules, documentation requirements, reclaim statutes and recovery practices.

·   Assess tax treatment and servicing requirements across registered investment companies, public funds, ETFs, UCITS, alternative investments, private-market structures, Cayman and other offshore funds, omnibus structures and other complex investment vehicles.

·   Monitor global tax and regulatory developments and translate changes into clear implications for clients, products, operations, controls, technology and market strategy.

·   Define priorities for market expansion, service enhancement, automation and differentiated custody tax capabilities based on client needs, competitive positioning, risk and commercial value.

Client, Prospect & Industry Leadership

·   Serve as the senior custody tax adviser in client, prospect, consultant, due-diligence, RFP and strategic relationship discussions.

·   Lead complex client conversations involving RAS eligibility, reclaim strategy, documentation, market practices, service gaps, tax leakage and recovery opportunities.

·   Develop executive-level client materials, market updates, thought leadership and service-positioning content; represent U.S. Bank through conferences, panels, webinars and industry forums.

·   Build productive relationships with industry associations, tax authorities where appropriate, sub-custodians, ICSDs, withholding agents, third-party tax firms, accounting firms, legal advisers and technology providers.

·   Partner with Sales and Relationship Management to support complex custody opportunities, demonstrate tax expertise and incorporate scalable tax solutions into proposals and commercials.

Operating Model, Service Quality & WCIB Partnership

·   Partner with WCIB Operations to design and continuously improve the end-to-end operating model for tax documentation, withholding, RAS, quick refund, reclaims, exception management, reconciliation, reporting and client communication.

·   Define clear business, Product, Operations, Network Management, Client Service and Technology accountabilities, escalation paths and governance for custody tax services.

·   Establish service requirements, SLAs, KPIs, KRIs and client scorecard measures covering eligibility, documentation, filing timeliness, aged claims, exceptions, recoveries, tax leakage, market coverage and service responsiveness.

·   Lead root-cause analysis and remediation for material client issues, recurring service failures and control gaps; ensure agreed improvements have accountable owners, milestones and measurable outcomes.

·   Provide senior technical guidance on complex or non-standard client requests while ensuring operational feasibility, risk assessment and appropriate approval.

Tax Technology, Data & Product Development

·   Define the target-state technology and data strategy supporting scalable global tax servicing, client transparency, workflow control and market intelligence.

·   Partner with Product, Technology and Operations to prioritize enhancements to tax workflow, documentation, rules engines, reporting, dashboards, client portals and data quality.

·   Evaluate and manage strategic relationships with tax technology providers and external service partners, including solution design, business requirements, implementation oversight and performance review.

·   Use client and operational data to identify gaps, quantify tax leakage and recovery opportunities, prioritize markets and monitor service outcomes.

·   Ensure tax capabilities are incorporated into the broader custody platform roadmap, investment agenda and client experience strategy.

Risk, Controls & Regulatory Alignment

·   Partner with Legal, Compliance, Risk, Operations and Network Management to interpret applicable tax rules and align service design with U.S. Bank policies, risk appetite, contractual obligations and control standards.

·   Assess operational, regulatory, financial and reputational risks associated with tax service models, non-standard requests, documentation practices and market changes.

·   Support risk reviews, audits, regulatory inquiries and remediation plans involving global custody tax services.

·   Promote clear procedures, defensible tax positions, effective controls, complete records and timely escalation of material risks or uncertainties.

Leadership & Capability Building

·   Operate as a senior member of the Custody Asset Managers leadership team and provide concise, decision-oriented updates to senior business leadership.

·   Build enterprise tax expertise through training, playbooks, market guidance, client-service tools and structured knowledge transfer.

·   Mentor Tax, Operations, Product and Client Service colleagues and establish a community of practice across regions and functions.

·   Influence outcomes across a complex matrix without relying on direct authority, balancing client needs, risk, operational readiness, commercial priorities and long-term scalability.

·   As the capability develops, recommend the appropriate specialist team structure and provide leadership to assigned employees, consultants or cross-functional workstreams.

Specifications

This is a senior, highly specialized leadership position operating in a complex, highly regulated global custody environment. The role requires independent judgment, recognized subject-matter credibility, direct executive and client engagement, and the ability to set strategy and drive enterprise execution across organizational boundaries. The position is expected to lead material global initiatives and influence investment, operating-model, technology and client decisions. Final organizational grade, title, compensation range, reporting line and people-management scope remain subject to HR and Compensation review.

Minimum Qualifications

• Bachelor’s degree in Accounting, Tax, Finance, Business, Economics, Law or a related field, or equivalent practical experience.
• Typically 12+ years of progressively responsible experience in global custody tax, asset servicing tax, international withholding tax, securities tax operations, tax product management or a closely related field, including extensive direct responsibility for custody clients and global markets.
• Demonstrable expertise in relief at source, quick refund, tax reclaims, withholding tax, treaty eligibility, beneficial-owner documentation and market-specific tax requirements across multiple regions.
• Deep knowledge of tax servicing requirements for U.S. registered fund complexes, public funds, ETFs, UCITS, alternative investments and offshore structures, including Cayman and similar domiciles.
• Experience designing or materially improving global custody tax products, operating models, controls, technology workflows, reporting or market coverage.
• Experience working directly with asset managers, asset owners, fund boards or other institutional clients and explaining complex tax topics to senior non-tax audiences.
• Experience managing relationships with third-party tax firms, accounting or law firms, sub-custodians, withholding agents, industry associations and tax technology providers.
• Demonstrated success leading complex cross-functional initiatives across Product, Operations, Technology, Network Management, Risk, Legal, Compliance, Sales and Client Service.
• Exceptional executive communication, client presentation, negotiation, public-speaking and written 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.

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:

• 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

Review our full benefits available by employment status here.

U.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.

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.

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.