Custody Operation Specialist - Vault Services

Vault Services Clerk

The Vault Services Clerk is responsible for the accurate handling, processing, and safeguarding of physical assets within the vault. This role ensures compliance with internal controls, audit standards, and regulatory requirements while supporting operational efficiency and client service excellence.

Key Responsibilities

Asset Handling & Processing

Receive, verify, and log physical securities, bonds, and other financial instruments into vault inventory systems. Prepare and execute asset pulls for client transactions, audits, and re-registration projects. Maintain dual-control procedures during all vault activities to ensure security and compliance.

Documentation & Compliance

Complete required paperwork for asset transfers, stock / bond powers, and custodial activities. Ensure adherence to regulatory standards and internal audit requirements, including timely updates to inventory records. Identify and escalate discrepancies or unusual activity per compliance guidelines.

Operational Support

Assist with daily vault balancing and reconciliation of asset positions. Support audit readiness by organizing and validating asset documentation. Coordinate with internal teams to meet service-level agreements for asset delivery and processing.

Basic Qualifications - Associate's degree, or equivalent work experience OR - High school diploma or equivalent and one or more years of relevant experience

Preferred Skills / Experience - Basic understanding of regulatory and accounting principles which directly affect Wealth Management & Investment Services business lines and clients - Ability to quickly learn custody operational functions, systems, procedures, various products and / or services, for assigned area(s) - Ability to multitask and meet established deadlines in a dynamic work environment - Demonstrated analytical, problem-solving, decision-making, and organizational skills - Effective customer relations, interpersonal, and verbal and written communication skills - Proficient computer navigation skills using a variety of software packages including Microsoft Office applications

Location Expectations :

This role requires working from the West Side Flats, MN location five (5) days a week.

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 (some may vary based on role, location or hours) :

• 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

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.

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 : $20.00 - $24.09