Clearing Department-Paying & Receiving/Check collection Associate - Bank of China Limited, New York Branch : Job Details

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 This role will handle check clearing and collections processing routine work and ensure the operation's efficiency and accuracy. ResponsibilitiesCheck Processing Operations

• Review and Verify all kinds of checks: the items includes amount, issued date, endorsement, signature
• Handles stop payment: update the status; input data such as check No., amount issued date and payee's name into the stop payment system
• Fix rejected MT110 messages in T24 system
• Responsible for clearing processing: verify check amount totals with cash letters, data processing, transmitting, sorting, scan all incoming checks by sequential order to produce imaging file
• Input the EOD entries
• Handle outgoing check processing: encoding and scanning, prepare deposit cash letter
• Handle incoming and outgoing check returns
• Input accounting entries
• Handle inward standard check collections, prepare chips payment to collecting bank
• Responsible to Large Return Notification from the paying bank and send LRN to other paying bank
• Maintain all kind of file of check collection section
• Answer inquiring phone call from other banks or customers

Compliance

• Understands, complies with all applicable laws and regulations regarding anti-money laundering, bank secrecy act, and suspicious activity report

Qualifications

• A minimum of 3 years of working experience is required; with at least 2 years of check clearing related work experience in sizable companies required
• Knowledge of accounting and bookkeeping is required for this position
• Bilingual language skills in Mandarin and English required

Pay Range Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications. USD $42,000.00 - USD $90,000.00 /Yr.