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

Performs complex operational functions within derivatives collateral management, supporting portfolios governed by ISDA Credit Support Annex (CSA) and Initial Margin (IM CSA) agreements across a range of OTC and cleared derivative products. Serves as an experienced analyst with accountability for end‑to‑end collateral processes, operating with minimal supervision and exercising sound independent judgment.

Responsible for daily collateral margining activities, including variation margin and initial margin monitoring, reconciliation of exposures, issuance and validation of margin calls, settlement processing, and resolution of disputes. Ensures accuracy and timeliness of collateral movements while adhering to contractual terms, regulatory requirements, and internal control standards.

Maintains and reviews collateral accounts, eligibility schedules, thresholds, minimum transfer amounts, valuations, and settlement instructions, ensuring alignment with governing documentation and internal systems. Investigates and resolves breaks or discrepancies across statements, margin calls, and settlements, performing root‑cause analysis and documenting outcomes in accordance with audit and governance expectations.

Acts as a primary point of contact for counterparties, custodians, brokers, clearing agents, and internal stakeholders, responding to written and verbal inquiries and supporting complex or non‑standard collateral events such as disputes, substitutions, lifecycle changes, and documentation updates. Escalates material risks, control issues, or unresolved exceptions in a timely and transparent manner.

Coordinates multiple workstreams simultaneously, prioritizing tasks to meet service‑level agreements and regulatory deadlines. Contributes to process improvements, control enhancements, and procedural documentation, and provides guidance or informal mentoring to junior team members as appropriate.

Monitors, validates, and reports collateral pledged in support of government deposits at the state level, ensuring compliance with applicable state statutory requirements, custodial agreements, and internal treasury policies. Reviews collateral sufficiency, eligibility, concentration limits, and valuation thresholds, and coordinates with custodians, treasury, and reporting teams to remediate deficiencies or excesses. Produces and reviews periodic collateral reports for internal management, regulators, and state authorities, escalating shortfalls, breaches, or documentation gaps in accordance with established control and governance frameworks.

Basic Qualifications

• Bachelor’s degree, or equivalent relevant work experience
• Three to five years of experience in operations, collateral management, or a related financial services function

Preferred Skills and Experience

• Strong working knowledge of ISDA CSA and IM CSA frameworks and collateral lifecycle management
• Experience supporting OTC and/or cleared derivative products and associated margining methodologies
• Solid understanding of collateral settlements, reconciliations, dispute management, and operational controls
• Proven analytical, problem‑solving, and decision‑making skills with strong attention to detail
• Ability to independently manage priorities, deadlines, and complex exception scenarios
• Excellent interpersonal, verbal, and written communication skills
• Working knowledge of banking and financial markets operations

This role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

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.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $64,855.00 - $76,300.00

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.