Vice President, Head of Trustee Operations, Hong Kong
June 14, 2020
Job Purpose: Cititrust Limited is a division of Citi's Markets & Securities Services (MSS). It offers securities and fund services, custody and trustee services to financial institutions and public sector organizations around the world. With a network that spans more than 80 countries, MSS supports over 65,000 clients, delivering client-focused, innovative and industry leading service. An acknowledged market leader, MSS also differentiates itself through our continued investment in growth and sustainability and especially in our people. This is an exciting opportunity in the Trustee & Fiduciary Oversight team within Citi's Securities Services operations in HK. The Trustee acts on behalf of its investors and ensures that all trust assets are protected, the appointed administrators and service providers comply with its service and regulatory obligations & requirements, maintains best practices, and prepares/files all necessary fund statutory documentation. Performs daily and/or periodic tests to ensure that fund valuation reports are correct and accurate. Performs periodic and/or ad-hoc regulatory tasks to ensure that the fund is being managed in accordance with set guidelines of the trust agreements and statutory regulations. Key Responsibilities: The candidate is required to have strong knowledge and extensive practical experience of the following core trustee and fiduciary services and processes, and is responsible for managing a team of professionals for Trustee Operations in Hong Kong:
Work with various product and operation teams to develop trustee operations solutions for unit trusts and exchange traded funds (ETF)
Ensure daily compliance monitoring, payment oversight monitoring, financial statement review and regulatory reporting are conducted
Implement a robust control, monitoring and reporting when onboarding new Fund Manager clients and handling existing Fund Manager clients.
Work with both external (fund managers, professional firms, bankers etc.) and internal stakeholders including product, custody, client services team, fund administrator etc. to ensure the smooth and proper running of the trustee operations e.g. account opening and maintenance, tax filing and reclaim handling, fair valuation review, internal management reporting and manage regulator and auditor queries.
Ensure the conduct of the fiduciary and fund services business is conducted in accordance with all relevant internal policies and external rules and regulation
Conduct annual due diligence and monitor performance of all agents (internal and external) in compliance with applicable policies and guidelines.
Stay abreast of market and regulatory developments in the fiduciary and fund services industry.
Assist the Regional Head to share best practices and deliver projects assigned from time to time.
The candidate should have approximately 5 years of experience within the Trustee Services &/or Fund Services Operations or in a Fund Services support role e.g. Fund Compliance &/or Fund Administration Service Support role and should have been in a people management position for at least 3 years.
Having a good knowledge of investment or fund compliance, fund products and operations, due diligence or audit experience will be advantageous. Fund compliance, fund administration, audit, internal risk & controls, trustee fiduciary & fund services experience preferred
In addition to a strong knowledge of Trustee Services and Funds Industry as outlined above, the candidate also needs to display strong interpersonal skills, communication skills, people management skills and time management skills. The candidate also needs to be able to work independently on projects or sub sets of projects and effectively represent Trustee Services. Due to the nature of such fiduciary oversight functions, the candidate should have strong regulatory and compliance background and a good understanding of local regulatory obligations and requirements.
Bachelor's degree/University degree or equivalent experience
Master's degree preferred
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