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.