US Bank Senior Manager - Depositary Custody & Banking 

Ireland, Dublin 

554606309

Senior Manager, Depositary, Custody & Banking

U.S. Bank has been servicing Depositary ‘lite’ business in Europe since 2024 and introduced its full depositary services offering in Ireland in 2018 and in Luxembourg in 2020. The offering supports regulated investment funds domiciled in the EU that are required to appoint a depositary to comply with the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for Collective Investments in Transferable Securities Directive (UCITS). Elavon Financial Services DAC trading as U.S. Bank Depositary Services is authorised and supervised by the Central Bank of Ireland and by the C.S.S.F in Luxembourg

About You

You are a confident depositary professional with a comprehensive understanding of the Irish Financial Services market and a knowledge of the Luxembourg market. You are comfortable working within a robust control framework to support the growth of the Depositary function. Your knowledge of the Depositary obligations for UCITS and AIFMD funds is comprehensive. You have excellent communication skills, with a proven ability to maintain and enhance client relationships.

Reporting directly to the Head of Depositary, Custody and Banking Services International, you are an individual who wishes to work on multiple Depositary and Custody related projects which support the ongoing growth and expansion of the European business. You will build successful working relationships with key stakeholders and with colleagues in various functions including GFS, CRO, Risk, Compliance, Legal leadership and teams.

We work to tight deadlines in our deliverables so a methodical approach to planning is a must, with a strong attention to detail.

Responsibilities

Reporting to the Head of Depositary Custody and Banking Services International, all duties are performed in accordance with the Regulations governing this highly regulated function

This is required for each task or project undertaken, ensuring that Regulations and internal policy requirement are fully considered, and clear documentation is provided on how the requirements have been considered and adhered to.

Key Requirements - all relates to both jurisdictions Depositary Ireland and Depositary Luxembourg in addition to Custody related activities to support the Business Line (BL):

• Support the Head of Depositary, Custody and Banking Services International (“Head”) on various projects and tasks as required.
• Ability to lead various projects and to work with a dedicated Depositary and Custody Product team to create a
  ‘best in the business’
  service offering.
• Manage all audits and any regulatory inspections from commencement to conclusion and follow up on any remediations.
• Lead any actions to address any audit or regulatory report recommendations in advance of them issuing and follow up to ensure appropriate resolution of any findings.
• Perform quality assurance reviews on Depositary activities in accordance with a pre-defined schedule of reviews
• Work with senior management within Depositary and Business Line Risk to ensure strong control environment in place and review and oversee the ECRA/RCSA process to provide credible challenge on controls proposed
• Work with the dedicated Product team in the management of any business proposals to advance the product offering for WCIB Depositary, custody and Banking Europe. Work with Regulatory services manager to advance any PRISMs for products as required and with the SWP appointed PM for European SWP integration to prepare for SWP integration in 2025/26
• Work with Product to continually focus on an automated service offering and take the lead in driving the new depositary system implementation in 2025 and into 2026
• Build any knowledge gaps in Depositary functions working across multiple product and structures, from UCITS to Alternatives including Hedge, Private Debt, ELTIFs, Property and Infrastructure funds
• Manage the 2025 training plan for the BL. Provide training on Depositary activities where required in order to impart knowledge to the more junior /new members on the Depositary teams and supporting the Depositary management and teams in this area.
• Manage the DAG process, ensuing review of DAG pack and information submitted on time such that the pack issues 3 days in advance of meetings. Act as co-chair as required for the Head.
• Work with US bank comms teams and GFS to prepare and issue a client survey in 2025 and thereafter annually where required. Work with the Head to action any recommendations from the client survey.
• Prepare draft of the updates and schedule quarterly Townhalls in 2025 and coordinate the preparation of the Business Review.
• Prepare monthly EXCO and or Board updates for review and augmentation by Head. Co-ordinate strategic reviews.
• Champion Talk to us Survey (TTUS), encourage greater participation, review results quarterly, agree actions and schedule the issuing of updates to the teams.
• Strong interest in regulatory landscape and the ability to review and offer enhancements to processes to Depositary management in order to incorporate changing regulatory requirements and obligations. Prepare regulatory updates on a quarterly basis on key topics of interest for internal and external distribution.
• Take on the role of MIFID Single Officer, attend the Client Asset Forum representing Depositary and Custody and oversee the annual audit process and final report
• Schedule and prepare pack for an annual Board meeting of EFS Depositary Nominees Ltd
• Keep up to date on all regulatory and industry developments in both jurisdictions and deputise for Head on Industry forums, where requested
• Interact with colleagues, peers and senior management in a way that ensures the ‘end goal’ is achieved in a productive way.

Experience

• Minimum 10 years relevant Depositary/Trustee industry experience.
• Proven track record of managing and delivering projects.
• Flexible / Adaptable to be able to run multiple projects simultaneously
• Third level qualification in Business/Finance/Economics or related area.
• Strong oral and written communication skills.
• Excellent interpersonal skills with stakeholder and customer focus.
• Strong organisational and administrative skills.
• Ability to work independently providing structured feedback on progress.
• Ability to multi-task, prioritise work and manage time to maximise efficiency and to meet strict deadlines.
• Strong UCITS and AIF knowledge with experience in working with Private credit/debt funds, property and infrastructure in either or both fund jurisdictions a distinct advantage.

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