Analyst, Securities Services-Custody Services, Corporate Banking, Securities & Fiduciary Svs

Business Function

Technology and Operations (T&O) enables and empowers the bank with an efficient, nimble and resilient infrastructure through a strategic focus on productivity, quality & control, technology, people capability and innovation. In T&O, we manage the majority of the Bank's operational processes and inspire to delight our business partners through our multiple banking delivery channels.

Job Objective:

Provide operations support to daily production so as to deliver securities services with productivity, high quality, risk consciousness and excellent client service.

Principal Responsibilities:

• •Execute securities transactions in settlement, corporate action, account opening and billing efficiently and accurately.
• •Handle day-to-day settlement (scripless and physical) on equities, fixed income and other types of instruments.
• •Process voluntary and involuntary corporate action
• •Process monthly fee billings and collections
• •Process dispatches of holding statements
• •Process custody account maintenance
• •Perform static data maintenance and information update.
• •Provide second level client services. Handle customer inquiries in an efficient manner
• •Comply with regulatory requirements (such as HKMA, MAS, SFC etc.) and Audit / Risk Management guidelines pertaining to the operations.
• •Report any suspicious / outstanding transaction or incident to Team Manager, Department Head and other relevant parties for necessary action per the Incident Management Policy
• •Participate in user acceptance test for system enhancements. Review business requirements and functional specifications. Prepare test cases and conduct testing
• •Participate in project initiatives and business development, e.g. customer implementation, business continuity management, review of operational procedures, policies and guidelines; specific and job-related training, etc.
• •Handle regular and ad hoc tasks as designed by Team Manager and Department Head
• •Validate client tax forms (e.g., W-8BEN, W-9), apply correct withholding rates based on treaties, and track changes in circumstances.
• •Calculate, withhold, and deposit US withholding taxes on US-source income (e.g., dividends, interest) in accordance with the QI agreement.
• •Prepare and file annual information returns, including Form 1042 (Annual Withholding Tax Return) and Form 1042-S (Foreign Person's US Source Income Subject to Withholding).
• •Reconcile withholding tax liabilities, deposits, and reporting data to ensure zero discrepancies in IRS transcripts.
• •Support the Responsible Officer (RO) in conducting periodic compliance reviews (audits) mandated by the IRS every three years.
• •Provide guidance to internal business lines (e.g., client onboarding, operations, trading desks) on US tax implications.

Key Accountabilities:

• •Accomplish the job objective and perform the principal responsibilities.
• •Achieve the agreed Key Performance Indicators (KPI) annually.

Relevant Experience:

• •3–7 years in international taxation, specifically within banking, custody, or brokerage operations.
• •Strong expertise in Chapter 3 (Withholding of Tax on Nonresident Aliens and Foreign Entities), Chapter 4 (FATCA), and QI regimes.
• •Proficiency in managing large datasets, tax systems, and extracting data for IRS reporting portals like IRS FIRE.
• •The role is initially attached to one custody function (settlement, corporate action, billing or account opening). Good performers can rotate to other functions on a fast track for development into well rounded professionals in custody operations

Functional / Technical Competencies:

• •Knowledge of CCASS, SFC rules, SFO and HKICL
• •Accuracy and thoroughness in work
• •Problem-solving skills
• •Interpersonal and communication skills
• •Knowledge in MS office
• •Result- and customer-oriented
• •Positive attitude and self-motivated
• •Good team player, supportive and flexible to take up team tasks
• •Good command in English and Chinese (both spoken & written)

Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.

We regret only shortlisted candidates will be notified.

Location:

Two Harbour Square

Job:

Operations

Schedule:

Regular

Employee Status:

Full time