This Zurich head quartered investment bank which operates in a number of key markets and operates a global private Exchange that acts as a clearing network for institutions and Ultra High Net Worth individuals alike, is looking to hire a In House Custodian.
As the growth of business generated upon the exchange and from their Capital Market & Private Banking divisions has grown it makes sense for them to ramp up their in house Custody Operation
. Key to this new initiative is the hiring of an experienced In House Custodian to manage the back office, especially the settlement department.
The In House Custodian manages the securities and assets of the Banks clients whilst they are under the bankÂ´s jurisdiction and undertakes coordinating all settlement and asset servicing activity. Given the nature of the bank Exchange business, their growing securities issuing department and their extensive wealth management and trading teams the custody operation has grown. The In House Custodian will be heavily involved in the safe keeping of diverse assets including stocks, bonds, Medium Term Notes, Letters of Credit, unstructured notes, Bank Guarantees, structured finance contracts, derivative linked assets, commodities such as precious metals and currency.
Being the main supervisor of all asset servicing activity, the In- House Custodian acts as an information intermediary, communicating between the bank and the securities holders. They liaise with the relevant the bank experts in Back, Middle and Front Office to ensure the customer, and their asset always receives a first rate custody service. With in their overall remit the In House Custodian can expect to have to:
- Provide custodial solutions to existing and potential custodian clients
- Arrange settlement of any purchases and sales and deliveries in/out of such securities and currency
- Ensuring that a record of title to the customerâs securities is maintained on the books of the Bank.
- Transmitting customersâ securities receipt and delivery orders to each counter-party and effecting or monitoring the associated payments.
- Processing the rights and obligations associated with securities in safekeeping whilst they are with the bank (dividends, proxy votes, tax, reclamation corporate actions notifications, and statements of securities holdings)
- Delivering specialized services for investment portfolios (funds/bonds), usually involving investment accounting, net asset valuation, performance measurement, compliance monitoring, and regulatory record keeping
- Taking deposits and providing services that involve credit exposure, usually intra day liquidity, lending money, and lending securities as principal or as agent with a guarantee to the lender.
- General Clearing Services as and when required
- Distributing, on behalf of the issuer, dividends, interest or principal redemptions to the securities holders or their financial intermediaries representatives.
- Ensure accurate data entry into Euroclear & Clearstream as and when required as part of the custody operation
To be considered for the In-House Custodian vacancy the successful applicant will be:
University degree holder or above in Business Administration or related disciplines
Minimum 3-4 years of experience in custodian service and solutions
Extensive knowledge in custodian business and structures of the team is essential
Have an excellent knowledge of loan documentation, financial structuring and how Exchanges operate
Have an understanding of how the various assets types are traded
Good negotiation, customer relationship and presentation skills
The In House Custodian is a critical appointment for the bank. They believe the successful applicant will already be working for a European Custody operation in an investment bank. Therefore they realize they will have to craft an enticing remuneration package to guarantee the appointment of the right individual.
You can make a formal job application by using the electronic form, which can be found by pressing the apply button at the top right of this job description.