Fund Administrator

U.S. Bank National Association • Milwaukee, WI

2d • Onsite

About The Position

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 Global Fund Services is seeking future team members for the roles of Fund Administrator 3 and Fund Administrator 4 to support our Fund Administration team.
As a Fund Administrator 3, you will help lead a servicing team who supports the day-to-day financial and compliance operations of an exchange-traded fund (“ETF”), mutual fund, closed end fund and/or business development company client. In Fund Administration, we value clients first and employees always. We take pride in doing the right thing each and every day in a fun, challenging and fulfilling environment. Our leadership and team mentors are committed to you, and we will provide you with an array of resources and teaching methodologies to help your continued succession as a financial professional and leader.
As a Fund Administrator 3, you will spend key time:
Monitoring and reviewing a fund budget based on contractual agreements, fee proposals and expense activity trends.
Reviewing ETF and other fund client board of directors meeting materials. This may involve attendance of client meetings and presentation of materials.
Reviewing financial statements (e.g., statement of assets and liabilities, schedule of investments, statement of operations, statement of changes in net assets, statement of cash flows and accompanying financial footnotes) for ETF and other client shareholders and the SEC in order to comply with GAAP and regulatory reporting requirements. This process involves being a liaison between internal departments, external legal counsel, fund auditors and our clients. including
Reviewing portfolio compliance to ensure ETF and other fund adherence to the Investment Company Act of 1940, stated prospectus limitations and internal revenue code guidelines.
Leading the financial reporting filing requirements for an ETF or other fund client’s fiscal year.
Mentoring teammates or in certain cases direct reports.
Communicating with investment advisor clients.
Helping lead the coordination of ad-hoc projects which can include ETF, trust and other fund launches, ETF and other fund M&A activity and ETF and other fund liquidations.
As a Fund Administrator 4, you will help lead a servicing team who supports the day-to-day financial and compliance operations of an exchange-traded fund (“ETF”), mutual fund, closed end fund and/or business development company client. In Fund Administration, we value clients first and employees always. We take pride in doing the right thing each and every day in a fun, challenging and fulfilling environment. Our leadership and team mentors are committed to you, and we will provide you with an array of resources and teaching methodologies to help your continued succession as a financial professional and leader.
As a Fund Administrator 4, you will spend key time:
Monitoring and reviewing a fund budget based on contractual agreements, fee proposals and expense activity trends.
Reviewing ETF and other fund client board of directors meeting materials. This may involve attendance of client meetings and presentation of materials.
Reviewing financial statements (e.g., statement of assets and liabilities, schedule of investments, statement of operations, statement of changes in net assets, statement of cash flows and accompanying financial footnotes) for ETF and other client shareholders and the SEC in order to comply with GAAP and regulatory reporting requirements. This process involves being a liaison between internal departments, external legal counsel, fund auditors and our clients. including
Reviewing portfolio compliance to ensure ETF and other fund adherence to the Investment Company Act of 1940, stated prospectus limitations and internal revenue code guidelines.
Leading the financial reporting filing requirements for an ETF or other fund client’s fiscal year.
Mentoring teammates or in many cases direct reports.
Leading small/medium complex client relationships from an administration perspective.
Leading the coordination of ad-hoc projects which can include ETF, trust and other fund launches, ETF and other fund M&A activity and ETF and other fund liquidations.

Requirements

• Bachelor's degree in accounting or finance, or equivalent work experience
• Five to seven years of related work experience
• Bachelor's degree in accounting or finance, or equivalent work experience
• Eight or more years of related work experience

Nice To Haves

• Proven knowledge of ETFs, mutual funds and other investments and security types
• Keen understanding of legal, regulatory and accounting principles
• Acknowledgement of ethics and compliance
• Organized an attentive to detail
• Ability to lead and manage multiple tasks, projects and deadlines simultaneously
• Effective verbal and written communication skills
• Proficient computer navigation skills
• Intermediate to expert Microsoft Excel ability
• Ability to understand complex concepts
• Fund administration experience
• Thorough knowledge of ETFs, mutual funds and other investments and security types
• Keen understanding of legal, regulatory and accounting principles
• Acknowledgement of ethics and compliance
• Organized an attentive to detail
• Ability to lead and manage multiple tasks, projects and deadlines simultaneously
• Effective verbal and written communication skills
• Proficient computer navigation skills and expertise in Microsoft Excel
• Ability to understand complex concepts

Responsibilities

• Monitoring and reviewing a fund budget based on contractual agreements, fee proposals and expense activity trends.
• Reviewing ETF and other fund client board of directors meeting materials. This may involve attendance of client meetings and presentation of materials.
• Reviewing financial statements (e.g., statement of assets and liabilities, schedule of investments, statement of operations, statement of changes in net assets, statement of cash flows and accompanying financial footnotes) for ETF and other client shareholders and the SEC in order to comply with GAAP and regulatory reporting requirements. This process involves being a liaison between internal departments, external legal counsel, fund auditors and our clients. including
• Reviewing portfolio compliance to ensure ETF and other fund adherence to the Investment Company Act of 1940, stated prospectus limitations and internal revenue code guidelines.
• Leading the financial reporting filing requirements for an ETF or other fund client’s fiscal year.
• Mentoring teammates or in certain cases direct reports.
• Communicating with investment advisor clients.
• Helping lead the coordination of ad-hoc projects which can include ETF, trust and other fund launches, ETF and other fund M&A activity and ETF and other fund liquidations.
• Leading small/medium complex client relationships from an administration perspective.
• Leading the coordination of ad-hoc projects which can include ETF, trust and other fund launches, ETF and other fund M&A activity and ETF and other fund liquidations.

Benefits

• 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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level