Operation Service Department-Financial Operations Analysis-Associate/AVP

CFA Institute; New York (NY); On-site; USD 42,000 - 150,000; Full time

Job summary

An established industry player is seeking a dedicated professional to join their Custody Operations team. This role offers a unique opportunity to manage securities settlement, corporate actions, and client reporting while ensuring compliance with regulatory standards. Ideal candidates will have a strong background in finance and custody operations, with a passion for delivering exceptional client service. The position promises significant growth potential within a supportive and innovative environment, making it an exciting career move for those looking to advance in the financial services sector.

Qualifications

• 3-5 years experience in custody operations for Associate role.
• 5-8 years experience for AVP level with strong analytical skills.

Responsibilities

• Oversee securities transactions and ensure compliance with regulations.
• Manage corporate actions and provide excellent client service.

Skills

Securities Settlement

Corporate Actions Processing

Withholding Tax Regulations

Client Reporting

Analytical Skills

Communication Skills

Organizational Skills

Problem-Solving Skills

Education

Bachelor's degree in Finance

Bachelor's degree in Business Administration

Bachelor's degree in Economics

Tools

Microsoft Office Suite

SWIFT Messaging

Custody Banking Platforms

Job description

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
Join our dynamic and growing Custody Operations team at a reputable custodian bank where you'll play a vital role in the secure and efficient management of our clients' assets. As an Associate or Assistant Vice President (AVP), you will be at the forefront of providing essential custody services, including securities settlement, corporate action processing, withholding tax administration, and comprehensive client reporting. This is an exceptional opportunity for an experienced financial services professional to contribute to a high-performing team, expand their expertise in a complex and evolving industry, and build a rewarding career within a stable and innovative organization. We are committed to fostering a culture of continuous learning and offer significant opportunities for professional growth and advancement. The specific title and level will be determined based on your experience and qualifications.

Responsibilities

Securities Settlement:

1. Oversee and process securities transactions, including trade confirmations, settlement instructions, and reconciliation of positions.
2. Monitor and resolve settlement exceptions and discrepancies in a timely manner.
3. Ensure compliance with market regulations and internal procedures related to settlement.
4. Liaise with brokers, counterparties, and depositories to facilitate smooth settlement processes.

Corporate Actions Processing:

1. Manage the full lifecycle of corporate actions, including announcements, elections, and processing of dividends, stock splits, mergers, and other events.
2. Ensure accurate and timely communication of corporate action information to clients.
3. Process client elections and instructions in accordance with market deadlines.
4. Reconcile corporate action entitlements and resolve any discrepancies.

Withholding Tax:

1. Administer withholding tax requirements for various jurisdictions, ensuring compliance with relevant tax regulations.
2. Process tax reclaims and relief at source applications.
3. Stay updated on changes in tax laws and regulations impacting custody operations.
4. Respond to client inquiries related to withholding tax.

Client Reporting:

1. Prepare and deliver accurate and timely custody reports to clients, including transaction statements, holdings reports, and tax reports.
2. Respond to client inquiries regarding reporting and data.
3. Contribute to the development and improvement of client reporting processes.

Risk Management and Compliance:

1. Adhere to all internal policies, procedures, and regulatory requirements.
2. Identify and escalate potential operational risks and control weaknesses.
3. Participate in audits and compliance reviews as required.

Client Service:

1. Provide excellent client service by responding promptly and professionally to client inquiries.
2. Build and maintain strong working relationships with internal and external stakeholders.

Process Improvement:

1. Identify opportunities to improve operational efficiency and accuracy through process enhancements and automation.
2. Participate in projects and initiatives aimed at optimizing custody operations.

For AVP Level:

1. Lead and mentor junior team members, providing guidance and support.
2. Take ownership of specific operational areas or projects.
3. Contribute to the development of team strategies and objectives.
4. Act as a point of escalation for complex operational issues.

Qualifications

1. Bachelor's degree in Finance, Business Administration, Economics, or a related field.
2. Minimum of 3-5 years (for Associate) or 5-8 years (for AVP) of relevant experience in custody operations within a custodian bank, investment bank, or asset management firm.
3. Strong understanding of securities settlement processes, including SWIFT messaging and settlement systems (e.g., DTC, Euroclear, Clearstream).
4. Solid knowledge of corporate actions processing and relevant market practices.
5. Experience with withholding tax regulations and procedures in various jurisdictions.
6. Proficiency in preparing and analyzing client reports.
7. Excellent analytical and problem-solving skills with a strong attention to detail.
8. Strong communication (both written and verbal) and interpersonal skills.
9. Ability to work independently and as part of a team in a fast-paced environment.
10. Strong organizational and time management skills with the ability to prioritize tasks effectively.
11. Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).

Preferred Qualifications:

1. Familiarity with relevant industry regulations and compliance requirements.
2. Experience with custody banking platforms and systems.
3. Knowledge of different asset classes (e.g., equities, fixed income).
4. Experience in process improvement methodologies.

Pay Range:
Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.
USD $42,000.00 - USD $150,000.00 /Yr.