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.
- 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 $90,000.00 /Yr.