Operation Services - Back Office (FX & MM) Associate
Bank of China, U.S.A. - New York City, NY
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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.The Back Office Team Associate FX & MM, performs daily settlement, operation and administration process of FX & MM products and RMB clearing settlement, verify tickets, confirmation matching, payments verification, data accounting entries, run system batch and reports to ensure processes performed align with Bank’s procedures, policy guidelines, standards, and regulatory requirements.Include but are not limited to: Daily settlementsComplete intraday/end of day processes for FX, MM, IRS, CCS, CP, and RMB clearing settlementsPerform Corporate MM CBD funds and FI Time Deposit settlementsComplete confirmation matching by perform post trade matching process via vendor applicationsPerform daily end of day reconciliation process to ensure complete and accurate operation processMonitor settlement of all trades to ensure timely resolution of any failing transactions by working with the Front Business Lines and counterparties timelyPerform timely and accurate GL accounting entry postings in the core Treasury banking systemPerform new product testing and support including draft of UAT testing and work closing with technical team for issue resolvingReport and escalate settlement issues to SupervisorsAssist team on projects for implementing systems and/or process changes to support increased efficiency on process controlsRestore business document files in accordance with retention policy.Risk Management/ Compliance/Internal AuditUnderstand and comply with Bank’s procedures, policies, standards, and regulatory requirementsPrepare monthly, quarterly and semi-annual risk assessment reporting to the Second Line of DefenseUpdate procedures to reflect current workflow processes and gaps on control processesPrepare monthly and quarterly reports to Head OfficePrepare documents and responses requested by internal and or external parties and auditors timelyRespond to Internal Audit Department’s request timelyAssist to remediate any audit issue findingsBachelor’s degree is required, majors in accounting or finance is preferredUp to 3 years of experience in back office settlement is requiredExcellent Microsoft Excel and Word skills are requiredKnowledge of treasury and financial products characteristics and back office settlement workflow is requiredKnowledge of SQL and VBA a plusUSD $42,000.00 - USD $90,000.00 /Yr.
Created: 2024-09-23