Bank of China USA
Operation Service Department-Custody Associate
Bank of China USA, New York, New York, us, 10261
Operation Service Department-Custody Associate
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 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 any unusual activities, special cases and/or disputes.
Conduct accurate and timely daily reconciliation including services on 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 services on 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.
Seniority Level
Entry level
Employment Type
Full‑time
Job Function
Other
Banking
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Overview The role of the Custody Associate will be responsible for processing securities trades, settlement and custody‑related transactions in accordance with 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 any unusual activities, special cases and/or disputes.
Conduct accurate and timely daily reconciliation including services on 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 services on 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.
Seniority Level
Entry level
Employment Type
Full‑time
Job Function
Other
Banking
Referrals increase your chances of interviewing at Bank of China USA by 2x.
Get notified about new Service Associate jobs in
New York, NY .
#J-18808-Ljbffr