Financial Management - Financial Regular Reporting AVP

Introduction :

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.

Overview :

The incumbent will be joining the Financial Management Department and assisting in the preparation of Bank of China U.S. branches’ regulatory reports to be filed with the Federal Reserve Bank of New York (FRB), Office of Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC).

In addition, this position will also help oversee the compliance of asset maintenance ratios, pledged assets, and capital equivalency deposit requirements, prepare and review regulatory reports and coordinate branch departments, non-branch entities, and Head Office to ensure the accurate and timely submission of related regulatory reports, etc.

Responsibilities :

Include but are not limited to :

Coordinate, prepare, document and file regulatory reports

Prepare, review, analyze and file regulatory documents and reports and liaise with other departments / branches, non-branch entities and Head Office for timely submission of various regulatory reports including FR Y-10, FR Y-7, FR Y-7Q and FR Y-7N

Coordinate, compile and review data, reports and other materials as requested for audits / regulatory requests

Maintain relationships with Head Office staff, regulators and auditors and respond to their inquiries

Maintain regulatory policy and procedures for reports prepared

Keep abreast of regulatory requirements / changes by attending trainings and seminars and reading the Fed’s publications

Oversee the compliance of OCC capital equivalency deposits and FDIC asset pledge and asset maintenance requirements

Prepare, review and monitor calculations for asset maintenance ratio, OCC capital equivalency deposits and FDIC pledged assets requirements on a daily basis

Monitor timely distribution of daily asset maintenance report to Treasury and relevant parties and proper documentation of Treasury’s daily estimate

Conduct preparation, review and analysis of the monthly reports of asset maintenance ratio, OCC capital equivalency deposits and FDIC pledged assets to ensure monthly / quarterly submission of the reports to regulators

Liaise with Treasury, Global Markets Department, Operation Services Department and Depository Bank to ensure transactions of pledged securities are completed in a timely manner and in accordance with regulatory requirements

Respond to OCC and auditors’ inquiries concerning the reports prepared

Maintain regulatory policy and procedures and recommend improvements for daily reporting process

Maintain Regulatory Reporting Software

Provide assistance and support to team with the regulatory software

Coordinate updates to software and perform testing as needed

Assist the software consultant with resolution of software mapping and other issues

Qualifications :

Bachelor’s degree is required; MS / MBA in Accounting / Finance preferred

A minimum of 5 year of experience in Financial / Regulatory reporting required

At least 3 years of Regulatory Reporting (TIC B, FFIEC002, FR Y-7 / 7Q / 7N / 10) experience required

A Solid knowledge in generally accepted accounting principal and regulatory reporting requirements is required

Familiarity in Word & Excel (VBA / Pivot Tables), SQL, Database, and Regulatory Software required

Bilingual in English and Mandarin is preferred

CPA certification preferred

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

USD $65,000.00 - USD $(phone number removed) / Yr.