In a recent interview with Entertainment Weekly, Thor director Kenneth Branagh reveals that Anthony Hopkins character, Odin, "runs the universe." This seems to be a deviation from the mythology set up in the comics, but can lead to solid continuity amongst the Marvel Cinematic Universe.
As we've seen (or heard) in the recent clips of both Captain America and Thor footage shown at Comic Con, several key cosmic artifacts are being introduced into the film-verse: The Casket of Ancient Winters, the Cosmic Cube (or "Tesseract") and the Infinity Gauntlet and Sword.
It appears that Odin collects these items (along with many more that have yet to be revealed) and stores them in different areas of the universe for safekeeping. The role each play in their respective films, as well as the ensemble film The Avengers, has yet to be discerned.
* FYI: For those wondering what a Tesseract is, it is simply geometrical term for the four dimensional analog of a cube