Operation Service Department-Custody Associate/AVP

Introduction:

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview:

The role of the Custody Associate will be responsible for processing securities trades, settlement and custody-related transactions in accordance with the customers' instructions to ensure alignment with the Bank’s procedures, policy guidelines, standards, and regulatory requirements.

Responsibilities:

Securities Settlement Processing (50%)

• Review customer instructions and compare to settlements received in Central Depositories’ respective systems.
• Report to supervisor of any unusual activities, special cases and/or disputes.
• Conduct accurate and timely daily reconciliation including but not limited to securities holding, corporate actions, tax withholding, customer reports, etc.

 

Asset Servicing for Clients’ Holdings (30%)  

• Conduct review of customer entitlements prior to crediting of customer accounts with corporate actions funds/securities.
• Conduct daily reconciliation including but not limited to securities holding, corporate actions, tax withholding, and customer reports.

 

Prepare Client Reports/Invoices (10%) 

• Prepare various daily and monthly customer reports.
• Prepare ad-hoc reports as needed by client and/or management.
• Prepare customer invoices timely for payments due.

 

Risk Management/ Compliance/Internal Audit (10%) 

• Prepare counterparty and issue list for OFAC screening.
• Update procedures to reflect current workflow processes and regulatory compliance updates.
• Understand and comply with the Bank’s procedures, policies, standards, and regulatory requirements.
• Escalate suspicious transaction to Legal Compliance Department.
• Respond to internal Audit Department’s request timely and assist to remediate any audit issue findings.
• Provide timely responses to inquiries from Head office internal and external auditors.

Qualifications:

• Bachelor’s degree in business, accounting, finance or economics required.
• At least 2 years of experience in securities industry (i.e. bank, brokerage firm) back-office or client service-related roles required for Associate level; At least 4 years of work experience required for AVP level.
• Knowledge of securities industry is a must.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

: USD $42,000.00 - USD $150,000.00 /Yr.