Depositary Supervisor

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, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive.   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. Try new things, learn new skills and discover what you excel at—all from Day One.   As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.   We actively uphold transparent and fair hiring practices that support individual opportunity, inclusive culture, and career mobility across all levels of our organisation. We offer meaningful opportunities for growth, a culture of inclusion, and a strong commitment to transparency and integrity in everything we do.

U.S. Bank introduced its full depositary services offering in Europe in 2018. 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 Undertaking for Collective Investments in Transferable Securities Directive (UCITS). Since July 2020, Elavon Financial Services DAC trading as U.S. Bank Depositary Services Luxembourg is authorised and supervised by the Commission de Surveillance du SecteuFinancier. Role overview: As a Depositary Supervisor you are a confident depositary professional with a comprehensive understanding of the Luxembourg financial Services 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.  Reporting to the Senior Depositary Manager, all duties are performed in accordance with the Commission de Surveillance du Secteur Financier and the requirements of each fund’s constitutional documentation.  This entails monitoring each fund’s compliance with prospectus based and regulatory investment     restrictions and borrowing limits, as well as performing reviews in respect of the role of the  administrator and appointed global custodians / prime brokers, managers and AIFMS. Key accountabilities: Perform the key tasks of cash flow monitoring; oversight on i) transfer agent ii) fund administrator iii) income distribution iv) investment restrictions v) timely settlement; safekeeping/recordkeeping and ownership verification. Review the work of the team and ensure all established Depositary procedures and controls are completed accurately and in a timely manner. Assist with annual on-site reviews of the fund administrator, transfer agent and managers. Demonstrate a comprehensive understanding of most common Luxembourg AIF fund structures and critically impacting Lux Depositary considerations. Support the Depositary Management in the expansion of the Depositary team. Interact with colleagues, peers and superiors in a way that ensures the ‘end goal’ is achieved in a productive way. Support the workflows of the team – including adherence to all mandatory training requirements and ensuring the area is operating to high standards. Act as a day-to-day contact for clients and attend board meetings as required. Excellent communication and