Fund Administration Supervisor

At U.S. Bank, we’re on a journey to do our best—helping customers and businesses make smarter financial decisions while supporting the communities we serve. A career with U.S. Bank offers a wide, ever‑growing range of opportunities to discover what makes you thrive at every stage of your career.

About the role

The Fund Administration Compliance & Regulatory Supervisor leads a team that ensures registered investment companies comply with regulatory requirements, prospectus limitations, internal policies, and client‑specific guidelines. The role oversees daily compliance monitoring, regulatory reporting, issue resolution, and audit support, serving as a subject‑matter expert for ETF, mutual fund, closed‑end fund, and business development company clients.

Responsibilities

• Lead and supervise a team responsible for monitoring compliance with regulatory requirements, prospectus restrictions, investment policies, and internal controls, including fund compliance programs, regulatory filings, and board reporting.
• Oversee daily, weekly, and periodic compliance testing for mutual funds, ETFs, closed‑end funds, and other registered investment products.
• Review and approve compliance reporting deliverables, exception reports, and regulatory monitoring results.
• Ensure timely identification, escalation, documentation, and resolution of compliance exceptions and regulatory breaches.
• Maintain documentation supporting compliance testing methodologies, procedures, and controls.
• Provide training and technical guidance to staff regarding regulatory and procedural changes.
• Evaluate existing procedures and implement process improvements to enhance efficiency and compliance.
• Support business growth initiatives, including participation in new client or product activities.

Basic Qualifications

• Bachelor’s degree in accounting, finance, or a related field.
• CPA certified or candidate.
• Eight or more years of experience in Mutual Fund Administration or a related field (e.g., public accounting).

Preferred Skills/Experience

• Advanced knowledge of legal, regulatory, and accounting principles affecting registered investment funds.
• Strong understanding of the Investment Company Act of 1940, Subchapter M of the Internal Revenue Code, and applicable state securities regulations.
• Demonstrated experience managing and developing professional staff.
• Strong organizational skills with the ability to manage complex, long‑term projects.
• Excellent written and verbal communication skills with significant client interaction.
• Proficiency with Microsoft Office and standard PC applications.
• Strong commitment to ethics, compliance, and internal control standards.

Benefits

• 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 (two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals (one hour for every 30 worked, up to 80 hours per calendar year, unless otherwise provided by law)

Pay

Pay Range: $98,175.00 – $115,500.00 (actual range may differ based on location). In addition to salary, U.S. Bank offers a comprehensive benefits package, incentive and recognition programs, equity stock purchase, 401(k) contributions, and a pension (subject to eligibility).

Schedule

This role requires working from a U.S. Bank location three (3) or more days per week.