OSD-Custody Associate

5 days ago

New York, New York, United States Bank of China Full time $42,000 - $90,000 per year

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, USD $90,000.00 /Yr.

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