Custody Associate

4 weeks ago


New York County New York, United States Bank of China Limited, New York Branch Full time
About the Role

Bank of China Limited, New York Branch is seeking a highly skilled Custody Associate to join our team. As a Custody Associate, you will be responsible for processing securities trades, settlement, and custody-related transactions in accordance with customers' instructions.

Key Responsibilities
  • Securities Settlement Processing
    • 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.
  • Asset Servicing for Clients' Holdings
    • 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.
    • 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
    • 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.
Requirements
  • Bachelor's degree in business, accounting, finance, or economics required at the time of hiring.
  • Experience in securities industry (i.e. bank, brokerage firm) back-office or client service related roles preferred.
  • Knowledge of securities industry is preferred.


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