Mutual Fund Administrator 3


At U.S. Bank, we’re passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we’re one of the country’s most respected, innovative and successful financial institutions. 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.

Job Description

As a Mutual Fund Administrator 3, you will help lead a servicing team who supports the day-to-day financial and compliance operations of a mutual fund, exchange-traded fund, closed end fund and/or business development company client.  In Mutual Fund Administration, we value clients first and employees always.  We take pride in doing the right thing each and every day in a fun, challenging and fulfilling environment.  Our leadership and team mentors are committed to you and we will provide you with an array of resources and teaching methodologies to help your continued succession as a financial professional and leader.   

As a Mutual Fund Administrator 3, you will spend key time:

  • Monitoring and reviewing a fund budget based on contractual agreements, fee proposals and expense activity trends.
  • Reviewing client board of directors meeting materials.  This may involve attendance of client  meetings and presentation of materials.
  • Reviewing financial statements (e.g., statement of assets and liabilities, schedule of investments, statement of operations, statement of changes in net assets, statement of cash flows and accompanying financial footnotes) for client shareholders and the SEC in order to comply with GAAP and regulatory reporting requirements.  This process involves being the liaison between internal departments, external legal counsel, fund auditors and our clients.
  • Reviewing portfolio compliance to ensure fund adherence to the Investment Company Act of 1940, stated prospectus limitations and internal revenue code guidelines.
  • Leading the financial reporting filing requirements for a client’s fiscal year. 
  • Mentoring teammates or in certain cases direct reports.
  • Communicating with investment advisor clients.  
  • Helping lead the coordination of ad-hoc projects which can include trust and fund launches, fund M&A activity and fund liquidations.

Basic Qualifications

  • Bachelor’s degree in accounting or finance, or equivalent work experience
  • Five to seven years of related work experience

Preferred Skills/Experience

  • Proven knowledge of investments and security types
  • Keen understanding of legal, regulatory and accounting principles
  • Acknowledgement of ethics and compliance 
  • Organized an attentive to detail
  • Ability to lead and manage multiple tasks, projects and deadlines simultaneously
  • Effective verbal and written communication skills
  • Proficient computer navigation skills
  • Intermediate to expert Microsoft Excel ability
  • Ability to understand complex concepts

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.

Learn how the way we work at U.S. Bank drives meaningful relationships with our customers and collaboration across the company.

Take care of yourself and your family with U.S. Bank employee benefits.  We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve.  That’s why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most – your family.

Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting

EEO is the Law
Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal EEO is the Law poster.


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.Due to legal requirements, U.S. Bank requires that the successful candidate hired for some positions be fully-vaccinated for COVID-19, absent being granted an accommodation due to a medical condition, pregnancy, or sincerely held religious belief or other legally required exemption. For these positions, as part of the conditional offer of employment, the successful candidate will be asked to provide proof of vaccination or approval for an accommodation or exemption upon hire.


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