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Job Description
General Summary
The Corporate Trust Default Director leads a team of relationship managers and default review analysts responsible for leading the identification, assessment, mitigation, and oversight of default risk within Global Corporate Trust, with primary emphasis on defaulted and distressed corporate and municipal matters. This critical role serves as a leader and senior subject matter expert in distressed transactions, restructurings, workouts, bankruptcies, litigation-related matters, and default administration.
The Corporate Trust Default Director serves as a key senior escalation point for complex default and dispute situations and is responsible for ensuring consistent application of risk and regulatory standards and requirements, operational controls, and risk management practices across the default portfolio.
The Corporate Trust Default Director reports directly to the Head of Corporate Trust Specialty Solutions and Administration supporting corporate and municipal transactions and partners closely with business leadership, legal counsel, operations partners, and executive management to drive risk-based decision making and effective client outcomes.
This role will lead, develop, and mentor default and restructure relationship managers while contributing to the overall strategy and risk management framework of the Default organization.
Location Expectations
This role requires working from a U.S. Bank location three (3) or more days per week.
Key Responsibilities
Default Risk Management
- Lead risk oversight activities across a portfolio of complex defaulted and distressed Corporate Trust transactions.
- Establish and maintain governance processes supporting identification, escalation, monitoring, and mitigation of transaction-related risks.
- Review and assist direct reports with default management strategies for restructuring, bankruptcy, workout, dispute and enforcement matters.
- Evaluate emerging risks and recommend proactive mitigation strategies to senior leadership.
- Serve as the escalation authority for high impact transactions with elevated reputational, legal, or operational risk.
- Maintain and manage a reduced portfolio of default situations.
- Ensure consistency in decision-making and administration practices across the default portfolio.
- Advise leadership and consult with business partners regarding transaction-specific risks and potential business impacts.
People Leadership
- Lead, coach, and develop a team of Default Relationship Managers responsible for managing defaulted or distressed Corporate Trust relationships.
- Establish and maintain performance expectations and accountability standards.
- Effectively utilize succession planning, talent development, and organizational effectiveness initiatives to manage current and future talent needs within the default team
- Create a culture focused on risk awareness and mitigation, client service, collaboration, operational excellence, and continuous improvement.
Corporate Trust Expertise
- Provide guidance to stakeholders regarding trust indentures, transaction documents, governing agreements, and trustee and agent duties.
- Support complex interpretation of transaction documents and contractual provisions related to default administration.
- Ensure consistency in decision-making and administration practices across the default portfolio, applying established corporate trust tenets.
- Manage financial and reputational exposure.
- Proactively initiate discussion of exposure-related issues with direct reports and leadership.
- Advise leadership and consult with business partners regarding transaction-specific risks and potential business impacts.
Operational Excellence and Controls
- Ensure operational and administrative functions are executed in accordance with division standards.
- Monitor key risk indicators, portfolio reporting, and management dashboards.
- Drive operational improvements that increase scalability, consistency, efficiency, and risk mitigation.
- Implement and monitor key risk indicators, portfolio reporting, and management dashboards.
- Lead remediation efforts associated with audits, risk reviews, regulatory examinations, and control assessments.
- Sponsor automation and process enhancement initiatives supporting the Default Administration organization.
Executive and Stakeholder Engagement
- Partner with senior leaders across Corporate Trust, Legal, Compliance, Risk Management, and Operations.
- Engage with clients, investors, attorneys, servicers, and other transaction participants to maintain and deepen stakeholder relationships.
- Represent Default Administration in enterprise-wide strategic initiatives and risk discussions.
Basic Qualifications
Required
- Bachelor's degree or equivalent experience.
- 8+ years of Corporate Trust experience with significant exposure to default administration, financial restructurings, bankruptcy proceedings, dispute resolution, distressed debt transactions, and risk management.
- 3+ leadership experience managing or formal or informal teams.
Preferred
- Juris Doctor (JD), MBA, CFA, CRCM, or other relevant professional designation or experience.
- Experience overseeing large Corporate Trust default portfolios.
- Experience leading through organizational transformation, regulatory change, or operational modernization initiatives.
- Knowledge of Global Structured Finance, CLO, ABS, CMBS, municipal finance, and corporate debt structures.
- Demonstrated expertise in interpreting Corporate Trust documents, including but not limited to trust indentures, pooling and servicing agreements, collateral documents, and other governing transaction documents.
- Strong understanding of the corporate trust business, the role and duties of trustees and agents, regulatory requirements, and operational risk management practices.
- Proven ability to interact with senior executives and drive decisions across multiple stakeholder groups.
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:
- 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
Review our full benefits available by employment status here.
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.
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: $197,100.00 - 240,900.00
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.
Posting may be closed earlier due to high volume of applicants.