Operation Service Department - custody Associate

Custody Associate

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.

Securities Settlement Processing (50%)

• 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 (30%)

• 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 (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.

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.

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.