Vice President - Custody Compliance

Bank of China

  • London
  • Permanent
  • Full-time
  • 14 days ago
Custody Business Function aims to expand Bank of China (BOC) Group’s network of UK sub-custodians to increase BOC London Branch’s Assets under Custody, while also collaborating with other market infrastructure providers (ICSDs) to build BOC London Branch’s market capabilities. The Function is responsible for Sales, Marketing, Product Development, Pricing and Operations Processing.The Custodian Services team is responsible for the safekeeping and administration of financial assets, primarily by financial institutions like banks or trust companies, on behalf of individuals or institutions. As a Vice President - Custody Compliance, you will play a critical role in ensuring adherence to relevant regulations, industry standards and Bank’s policies for the Custody Business. You will be responsible for developing and implementing relevant policies, identifying risks, monitoring activities and reporting on them. You will also be responsible for implementing training and guidance to staff, for the safekeeping and administration of the assets. This is a full time permanent position.Key Responsibilities
  • Monitor and oversee operations, transactions and procedures to identify potential compliance issues
  • Implement the proper segregation of duties within custody operations to prevent fraud and errors
  • Conduct risk assessments to evaluate the likelihood and impact of non-compliance, ensuring appropriate controls are in place
  • Develop, implement and update compliance policies and procedures ensuring they are aligned with legal and regulatory requirements
  • Educate staff on relevant regulations and policies, ensuring the department understand their responsibilities and potential consequences of non-compliance
  • Prepare and submit required regulatory reports, ensuring accuracy and timeliness
  • Investigate potential compliance violations, document findings and reporting to relevant stakeholders
  • Maintain accurate and up-to-date records of compliance activities and documentation
  • Raise awareness of relevant laws, regulations and industry best practices
  • Conduct internal audits to assess the effectiveness of the compliance and identifying areas of improvement
  • Ensuring the safety and security of client assets
  • Enforce meticulous records related to client assets
  • Assist in any resolution of client disputes ensuring fair and transparent handling of client concerns
Requirements
  • Degree level educated in Finance, Banking, Law or other related subject
  • Certifications related to custody or investment banking from CISI, such as the Investment Operations Certificate (IOC) is preferred
  • Proven track record of successfully developing and managing compliance within custody services business
  • Experience or knowledge of payment or clearing services
  • Team player who is able to make use of their own initiative
  • Ability to multi task
  • Capable of working in a highly productive and fast pace environment whilst being able to deliver with high quality
  • Excellent communication skills
  • Proficient in the use of MS Office (Word, Excel, PowerPoint)
  • Good knowledge in CASS rule
  • Knowledge in SWIFT message 5XX
  • Proficient in operating CREST or other CSD/ICSD systems
  • Proficient in the use of Microsoft Office Visio applications
  • Master MS-ACCESS or DATA BASE technology is priority
Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally.

Bank of China