Officer, Operations Team Lead, Global Technology and Operations recruitment
Overview
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,700 ATMs and award-winning online banking with nearly 29 million active users. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Responsibilities
- New Accounts Opening
- Review account opening documents to ensure compliance with banks' policies and local regulatory requirements
- Perform the relevant sanction checks on account entity, directors, shareholders and authorized signers
- Escalate / highlight any discrepancies noted to internal stakeholders for their follow up with the client
- Liaise with internal stakeholders, compliance for any appropriate approval to support the account opening
- Coordinate with outsourced vendor (BACI) to activate the clients' accounts in the bank system
- Close monitoring with internal stakeholders on outstanding account opening document or discrepancy
- Maintenance of Client's Account Mandates
- Review clients' mandates / instructions on changes in the authorized signers or singing arrangements (include but not limited to ensuring they are executed as per clients' corporate documents, perform sanction screenings on the signers etc)
- Work closely with internal stakeholders (the Sales and Client Servicing Teams) to follow up and resolve any discrepancies noted in clients' instructions
- Uploading of updated signers, instructions into the bank's signature verification system
- Custodian Dormant Accounts Desk
- Management of the inactive and dormant accounts
Requirements
- Minimum 4 years experience in account opening and loan documentation
- Ability to multi task amongst the various duties and functions of the department
- Sound knowledge of Operational risks, controls and Compliance (including but not limited to OFAC, Anti-Money Laundering, MAS Notice 626 - KYC requirements
- Good interpersonal and communication skills
- A keen learner with ability to work independently and readiness to take up challenges in meeting tight timeline
- Ability to plan and prioritize the daily work to achieve efficient and effective management of time
- Proficient in PC knowledge, particularly Microsoft word, Excel