Head of Private Markets

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Job DescriptionGENERAL SUMMARY:

The Head of Private Markets is a senior leadership role within the Alternative Investment Services business. The role is responsible for strategic oversight, operational excellence, growth agenda and client delivery of fund administration services supporting private markets (equity, credit, infrastructure and real estate), which includes accounting, investor allocation, reporting and waterfall calculations. This role leads multilayered teams, partners closely with investment managers and institutional clients, and ensures regulatory compliance, scalability, and bestinclass service delivery across complex fund structures.

The Head of Private Markets has P&L responsibilities and acts as a trusted advisor to clients and senior stakeholders, driving operational strategy while balancing risk management, talent development, and business growth.

ESSENTIAL FUNCTIONS:

Executive Leadership & Strategy

• Set and execute the growth strategy for private markets, aligned to overall business and U.S. Bank objectives.
• Serve as a senior leader for the private markets fund services platform, contributing to enterprisewide operational and growth initiatives.
• Partner with Sales, Relationship Management, Product, and other enabling functions to enhance service offerings and scalability.

Private Markets Oversight

• Provide oversight of endtoend fund administration activities, including:• NAV calculation and reporting
• Capital calls, distributions, and investor allocations
• Portfolio accounting for private markets instruments
• Management fee and carried interest calculations
• Financial statements and audit coordination

• Ensure accurate, timely, and compliant reporting, disclosures and regulatory oversight across multiple private credit and equity, infrastructure, and real estate strategies/verticals
• Oversee onboarding of new mandates, complex fund launches, restructures, and lifecycle events.

Client Relationship Partnership

• Act as a trusted advisor and develop relationships with clients and centers of influence in the industry.
• Execute on growth agenda by deepening relationships with existing clients and offer executive guidance on prospecting
• Act as the primary executive sponsor for key private markets in partnership with aligned Relationship Managers, as well as other business leaders (e.g., CLO, custody).
• Ensure consistent service level across clients, and geographies (e.g., US and Europe) and proactively manage client satisfaction, issue resolution, and service model evolution.

Organizational Leadership & Transformation

• Lead, develop, and inspire senior leaders and global/fund teams supporting private markets operations.
• Build a strong bench of talent through succession planning, coaching, and performance management.
• Foster a culture of accountability, collaboration, and continuous improvement.
• Sponsor and execute on transformation programs, operational efficiency initiatives, and technology enablement.
• Implement enhancements to fund accounting platforms and reporting tools, and ensure appropriate technology solutions are implemented through partnership with technology and business resources

Risk, Governance & Regulatory Compliance

• Ensure strong governance, internal controls, and adherence to regulatory requirements.
• Partner with Risk, Compliance, and Audit teams to address findings and strengthen control environments.
• Anticipate regulatory and market changes impacting private fund administration.

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It is the individual responsibility of every employee to maintain a current awareness and understanding of and to fully comply with U.S. Bancorp's "Code of Ethics". Each employee is expected to maintain an awareness of the laws, regulations, internal policies and procedures that are appropriate for his/her position.

SPECIFICATIONS:

This is a general description which covers all levels/grades of the job. Level/grade assignments are determined by the attached leveling guidelines. Minimum qualifications are outlined below:

Demonstrated expertise in private market with a strong understanding of accounting, finance, and investment principles, including fund structures, portfolio management, and credit risk. Highly proficient in leveraging data, analytics, and technology tools, including Microsoft Office and financial systems to drive informed decisionmaking and operational oversight.

The above statements are intended to descri