Operation Service Department-Financial Operations Analysis-Associate/AVP Position Available In New York, New York

Operation Service Department-Financial Operations Analysis-Associate/AVP
Bank of China Limited, New York Branch New York, United States
Posted 17 hours ago Permanent Competitive
Operation Service Department-Financial Operations Analysis-Associate/AVP
Bank of China Limited, New York Branch New York, United States
Operation Service Department-Financial Operations Analysis-Associate/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
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:

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

Corporate Actions Processing:

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

Withholding Tax:

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

Client Reporting:

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

Risk Management and Compliance:

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

Client Service:

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

Process Improvement:

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

For AVP Level:

Lead and mentor junior team members, providing guidance and support.
Take ownership of specific operational areas or projects.
Contribute to the development of team strategies and objectives.
Act as a point of escalation for complex operational issues.
Qualifications
Bachelor’s degree in Finance, Business Administration, Economics, or a related field
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
Strong understanding of securities settlement processes, including SWIFT messaging and settlement systems (e.g., DTC, Euroclear, Clearstream)
Solid knowledge of corporate actions processing and relevant market practices
Experience with withholding tax regulations and procedures in various jurisdictions
Proficiency in preparing and analyzing client reports
Excellent analytical and problem-solving skills with a strong attention to detail
Strong communication (both written and verbal) and interpersonal skills
Ability to work independently and as part of a team in a fast-paced environment
Strong organizational and time management skills with the ability to prioritize tasks effectively
Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint)

Preferred Qualifications:

Familiarity with relevant industry regulations and compliance requirements
Experience with custody banking platforms and systems
Knowledge of different asset classes (e.g., equities, fixed income)
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.
Job ID 3319
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