Operation Service - Corporate Action & Tax Specialist - Bank of China

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:

The Assistant Vice President performs and supervises Securities settlements operations to ensure all instructions are settled timely and accurately; ensure related reports sent to clients timely and accurately; ensure procedure is being followed and updated to align with current operation workflow practices, adherence with Bank’s policies, procedures and provide guidance, training and instill the Bank’s risk governance framework ideology.

Responsibilities:

Corporate Actions Processing:

• Monitor and process corporate actions including dividends, stock splits, mergers, acquisitions, and other related events.
• Ensure accurate and timely updates to client accounts in accordance with corporate action events.
  
• Reconcile discrepancies between DTC notices and internal records, and resolve any issues promptly.
  
• Communicate with clients and counterparties regarding corporate action events and ensure client instructions are executed accurately.

Tax Processing:

• Manage the processing of tax-related events, including tax withholding, reclaims, and reporting.
  
• Ensure compliance with tax regulations and withholding requirements for various jurisdictions.
  
• Liaise with tax authorities, clients, and internal teams to handle tax documentation and reporting.

Equities Settlement via DTC:

• Oversee the settlement of equity trades through DTC, ensuring timely and accurate processing.
  
• Reconcile settlement activity and ensure proper posting to client accounts.
  
• Coordinate with internal teams and external counterparties to resolve settlement issues and discrepancies.

Risk Management & Compliance:

• 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.

Customer Inquires:

• 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 Office.

Qualifications:

• Bachelor's degree in business, accounting, finance or economics
• 5 years of working experience in Corporate actions, tax processing experience
• Strong experience in equities settlement, preferably in custody or financial services environment
• Strong experience in MS excel, word, PowerPoint and outlook

 

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

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