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 is seeking an attorney to join the Law Division’s Wealth Management & Investment Services legal team to support U.S. Bank’s trust and custody businesses. U.S. Bank offers trust and custody accounts to consumers, businesses, governments, financial-services institutions, endowments and foundations, benefits plans, investment funds, and other customers.
In connection with those products and services, this position advises on (1) trust accounts and custody accounts for insurers, to support their reinsurance arrangements or hold their statutory deposits or general assets, (2) corporate custody accounts, to hold companies’ operating funds, (3) environmental trust accounts for property owners, to fund their environmental monitoring and remediation, (4) securities-intermediary services, for customers who pledge their custody accounts as loan-collateral, and (5) customer-segregated accounts for brokers, to hold their required cash reserves.
In terms of roles and responsibilities, this position (1) interacts with relationship, administration, operations, risk, and compliance staff; (2) interacts with external customers and their legal counsel; (3) negotiates service contracts; (4) supports account on-boarding and administration; (5) monitors and advises on regulations and applicable law; (6) advises on risk-control procedures and template service contracts; (7) contributes legal expertise to product-development and novel account investment transactions; (8) supports responses to internal and external reviews, regulatory exams, and legal actions; (9) educates bank personnel about relevant legal topics; and (10) manages outside legal counsel when needed.
This position offers candidates a career with exposure to a variety of legal issues, while working with various departments at U.S. Bank as a trusted legal and business advisor. This position is expected to be located in Minneapolis, Minnesota (although other locations will be considered), is a hybrid position (split in-office (3+ days) and remote work), and reports to the chief counsel of U.S. Bank’s Institutional Trust & Custody business.
Location Expectations
The 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.
Basic Qualifications
- Licensed by and in good standing with the appropriate state bar association or other appropriate state attorney licensing authority
Preferred Skills/Experience
- Five or more years practicing law in an in-house legal department or at a law firm.
- Experience in the financial-services industry, and in particular, experience advising trustees, custodial banks, investment advisers, brokers, or insurers.
- Familiarity with Reg. 9, trust law, Reg. 114 trusts, and UCC Article 9.
- Strong analytical skills.
- The ability to work independently.
- Comfort with and interest in working on a variety of legal matters.
- Excellent written, oral, and interpersonal communication skills.
- Strong commitment to client service.
We are proud that U.S. Bank has been recognized as a World’s Most Ethical Company® by the Ethisphere Institute and has been named the #1 Most Admired Superregional Bank by Fortune magazine.
Successful candidates for a position in the U.S. Bank Law Division support U.S. Bank’s core values, which guide what we do every day:
- We do the right thing.
- We power potential.
- We stay a step ahead.
- We draw strength from diversity.
- We put people first.
In the U.S. Bank Law Division, we honor those values through our mission: “we guide our clients to remarkable results with expert legal counsel and ethical leadership.” Our commitment is evident in the work we do, not only for the Bank, but for our communities. The Law Division has received several awards for its pro bono contributions, including the Minnesota Corporate Pro Bono Council’s “Excellence in Pro Bono Award,” and we encourage our legal professionals to contribute time and expertise to pro bono work as part of their role. In addition, the Law Division has been recognized for its leadership and engagement in Diversity, Equity, and Inclusion initiatives.
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 (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
EEO is the Law
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
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: $129,455.00 - $152,300.00 - $167,530.00
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.
Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
