Operation Services - Custody System 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:

This position will conduct detailed analysis of current and future business processes, work closely with stakeholders from various departments and IT teams to integrate system effectively. Other responsibilities include gathering and documenting business and functional requirements, performing quantitative and qualitative analyses, developing reports to ensure efficient and quality operations, ensuring procedure is being followed and updated to align with current operation workflow practices and adherence with the Bank’s policies, procedures.

Responsibilities:

• Stay current on the latest insurance processes and related IT advancements to automate and modernize business processes.
• Conduct detailed as-is and to-be analysis, working closely with business stakeholders and IT to integrate systems into existing processes.
• Gather critical information from meetings with various stakeholders and produce useful reports to drive decision-making processes.
• Collect business and functional requirements, construct workflow charts, diagrams, and use cases to ensure alignment with business objectives.
• Assist team lead to perform quantitative and qualitative analyses to support process design, leading to optimal efficiency and quality.
• Assist team lead to develop reports and business intelligence analyses to ensure successful ongoing operations, management, and control.
• Assist team lead to conduct meetings and presentations to share ideas, findings, and project updates with stakeholders.
• Assist team lead to develop test strategy and plans for projects, participate in the planning, execution, and documentation of results of functional testing.
• Assist in the development and delivery of training for end-users on new applications and business processes.
• Assist team lead to perform project management tasks as requested, working independently or in conjunction with an outsourced or vendor project manager.
• Serve as a liaison with vendor delivery staff, monitoring deliverables and ensuring timely and quality completion according to requirements.
• Monitor and aid in production support and problem resolution to assigned systems.

• Manage and assign work to subordinates to ensure effective completion of operations in the team.
• Cross-train staff for optimum coverage to support custody operation services.
• Monitor and control the daily operation of the specified settlement activities.
• Monitor to ensure accurate and timely daily reconciliation including but not limited to securities holding, corporate actions, tax withholding, customer reports, etc. are performed.
• Assist Team Leader with management of Custody business.
• Act as backup in absence of the Team Leader of Custody team.
• Ensure deliverables of accurate daily, monthly, and quarterly statistical reports are timely met.
• Ensure customers billed and charged on time for custody services rendered in accordance with specific agreement for that customer.
• Conduct investigation immediately when receive enquiry from customers and reply timely.
• Report to Team Leader if there is any special case or dispute.
• Develop and review MIS reports and regulation reports.
• Suggest and propose improvement and streamline workflow processes.
• Review and approve counterparty and issue list for OFAC screening.

• Follow department’s procedure and report to superior for any unusual transactions.
• Attend mandatory trainings on risk management and compliance.
• Act as the first line of defense to guarantee the accuracy and timeliness of custody business operation.
• Prepare required risk assessment reporting.
• Take appropriate action in solving breaks and settlement issues related to the custody business operations.

• Provide assistance on investigations concerning settlements with customers and other custodian banks.
• Research on new services and/or securities types according to business and/or client needs.
• Assist with investigations of unusual activities related to custodian operations.
• Provide assistance on investigation immediately upon receipt of inquiry from customers.

• Perform other duties as assigned by Head of the Department.

Qualifications:

• Bachelor’s degree in business, accounting, finance, economics, risk management , information technology or related fields required.
• At least 5 years of experience in securities industry (i.e. bank, brokerage firm) back-office or client service related roles required; Experience in project management and executing test strategies and plans is highly preferred.
• Solid knowledge of securities industry and OFAC knowledge required.
• Skillsets in communication, relationship management, project management, creative problem solving are needed.
• Bilingual in Mandarin Chinese (speaking, reading, and writing) is preferred.
• Certification in Business Analysis or Project Management (e.g., CBAP, PMP) is a plus.

Pay Range

• USD $65,000.00 - USD $150,000.00 /Yr.