Operation Service Department-Custody Associate

Bank of China Limited, New York Branch•New York, NY

4d•$42,000 - $90,000

About The Position

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.

Requirements

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.

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.
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
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.