The 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 Custody Compliance Manager, 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 or other related subject
- Certifications related to custody or investment banking from CISI, such as the Investment Operations Certificate (IOC) is preferred
- Good level of experience in custody business (trading settlement/corporate action/tax) or related business experience
- 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
- Fluency in Mandarin is a plus
- 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
Working here
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.
Learning and Development
We strive to offer you a continuous learning environment and we will invest in your development. We provide personalised and varied learning tools to support your growth and career through:
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access to the best in class qualifications from leading professional bodies such as the Professional Bankers Certificate and Green & Sustainable Finance Certificate from the Chartered Banker Institute
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24/7 on-demand access to over 600 e-tutorials to build and refresh core and advanced banking knowledge
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regular pan-bank stay connected sessions to keep in touch with what is going on across the bank and build your network
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exploring your unique and collective strengths and development areas to become the best version of yourself using the globally renowned Insights personality profile
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developing our People Managers to help coach and guide you towards success, through our 9-month People Manager Development Programme
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encouraging a “growth” personal mindset and promoting continuous professional development (CPD) through annual events such as Learning at Work Week
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embracing change in a fast-moving industry and encouraging a forward-looking perspective on career development to “future-proof” your career
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promoting cross cultural intelligence and to seek out diverse and inclusive perspectives on challenges faced and their solutions
Benefits
We provide an attractive and comprehensive benefits package, offering flexibility that can enable you to select the benefits that suits your needs, including:
Complimentary
Lunch
Cycle to
work scheme
Retail
Discounts
Meet our People
Celine Luo
Assistant Vice President, Financial Crime and Compliance
Bank of China is a great platform for everyone who wants to gain different knowledge and self-development. I started as a Junior Associate and had the opportunities to gain invaluable working experience in two different departments. I am happily working here, as an Assistant Vice President in the Financial Crime and Compliance department. I believe I will continue to grow here, not only in my career development but also in my personal wellbeing.
Daniel Shulakov
Senior Associate,
Credit Management
I joined Bank of China as a university graduate and I believe I have found the best place for me. From the first day my priority was always to learn. This was quickly recognised by my department, which provided me with the platform to grow, and my colleagues have been very helpful in the guidance they have provided me with along my journey. There are ample opportunities to grow with the Bank and it all depends on how much one would like to develop themselves.
Rita Cobbold
Vice President – Head of Customer Due Diligence, CFU Middle Office
I have been working at Bank of China for almost 8 years. In March 2022 I was promoted to VP - Head of Customer Due Diligence and I lead the CDD Unit. There are so many great things about working for the company. My favourite is probably the Bank’s commitment to identifying talent and nurturing them to develop into great leaders. The Bank embraces employees of all experience levels, backgrounds, and beliefs. They understand the value of a diverse team and make efforts to hire a variety of people. Working here has really enhanced my knowledge, my understanding of different cultures, leadership skills and a sense of direction for the future.
Ashley Watson
AVP – Security Operations & Risk Manager, General Administration
Over the past four years at Bank of China UK, I have had the opportunity to grow both professionally and personally in my role as the Security Operations and Risk Manager. My role involves safeguarding the bank’s operations through robust risk management and proactive security strategies. Every day brings new challenges, and the dynamic nature of the role keeps me engaged and motivated. One of the most rewarding aspects of working here is being part of a truly diverse and multicultural environment. Collaborating with colleagues from different backgrounds has broadened my perspective and enriched both my professional and personal experiences.
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