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- Tasks: Lead CHAPS administration and ensure compliance with regulatory standards.
- Company: Join the Bank of China, a global leader in financial services.
- Benefits: Enjoy private healthcare, pension, and flexible benefits tailored to you.
- Why this job: Make a real impact in a dynamic banking environment while advancing your career.
- Qualifications: Degree in Finance or related field; experience in CHAPS and payment processing required.
- Other info: Embrace a diverse culture with continuous learning and growth opportunities.
The predicted salary is between 54000 - 84000 £ per year.
About the role
The Clearing & Payments department supports the Bank in a back office capacity, supporting the Bank's operational processing for various banking products, working with retail branches and front office teams to support London Branch and Subsidiary customers. As a Vice President - CHAPS Administration & CRM Assurance, you will advise the Team to take actions required as a Direct Participant of CHAPS. You will be experienced in managing CHAPS rules and obligations gained within a CHAPS Direct Participant setting and in managing regulatory change projects, including but not limited to the CHAPS annual attestations. This is a full time permanent role.
Key responsibilities
- Document appropriate controls based on regulatory needs and assess the effectiveness of such controls by conducting control testing.
- Engage with internal and external auditors as well as the Bank of England.
- Prepare and manage questionnaire and survey responses for Bank of England.
- Complete CHAPS Compliance analysis, developing suitable controls and remediation actions.
- Coordinate across the three lines of defence to ensure tasks are completed within deadlines.
- Support CHAPS monitoring shifts on a rotation basis for morning and evening shift including extensions as required as a nominated CHAPS operator.
- Provide support for first line of defence (1LoD) to identify risks; document and manage these risks.
- Maintain and monitor Assurance progress to ensure timelines are adhered to.
- Perform pre and post Assurance project analysis for application in subsequent annual attestations.
Requirements
- Degree educated in Finance, Economics, Accounting or Business.
- Bank of England CHAPS Participant Engagement Forum (PEF) experience.
- Solid experience of the UK CHAPS Payment scheme gained through CHAPS direct participation.
- Experience of SWIFT and CHAPS Payment Processing and relevant global Payment Schemes.
- CHAPS Service and CHAPS CRM expertise is essential.
- Experience in SWIFT payment messages both MT and MX (ISO20022).
- Good knowledge of CHAPS Reference Manual requirements and other associated CHAPS user documents available to Direct Participants.
- Risk and controls experience with relevant third line of defence (3LoD).
- Knowledge of relevant legislations such as Consumer Duty, FCA and PRA regulations.
- Project management experience including network management and management reporting.
- A problem solver, someone who can use their initiative to resolve queries.
- Solid analytical skills.
- Good numeracy skills.
- Detail oriented.
- Excellent organisation skills and capable of working in a fast paced environment whilst being able to deliver high quality.
- Team player.
- Advanced MS Office skills (Word, Excel, PowerPoint).
Working here
Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintains its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branches in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy equal opportunities to grow both personally and professionally.
Learning and Development
We strive to offer you a continuous learning environment and we will invest in your development. We provide personalised and varied learning tools to support your growth and career through:
- Access to the best in class qualifications from leading professional bodies such as the Professional Bankers Certificate and Green & Sustainable Finance Certificate from the Chartered Banker Institute.
- 24/7 on-demand access to over 600 e-tutorials to build and refresh core and advanced banking knowledge.
- Regular pan-bank stay connected sessions to keep in touch with what is going on across the bank and build your network.
- Exploring your unique and collective strengths and development areas to become the best version of yourself using the globally renowned Insights personality profile.
- Developing our People Managers to help coach and guide you towards success, through our 9-month People Manager Development Programme.
- Encouraging a 'growth' personal mindset and promoting continuous professional development (CPD) through annual events such as Learning at Work Week.
- Embracing change in a fast-moving industry and encouraging a forward-looking perspective on career development to 'future-proof' your career.
- Promoting cross cultural intelligence and seeking out diverse and inclusive perspectives on challenges faced and their solutions.
Benefits
We provide an attractive and comprehensive benefits package, offering flexibility that can enable you to select the benefits that suit your needs, including:
- Private Healthcare.
- Pension.
- Employee Assistance Programme.
- Complimentary Lunch.
- Cycle to work scheme.
- Retail Discounts.
Vice President - CHAPS Administration & Assurance employer: Bank of China
Contact Detail:
Bank of China Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Vice President - CHAPS Administration & Assurance
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those who work at the Bank of China or similar institutions. A friendly chat can open doors and give you insights that might just land you an interview.
✨Tip Number 2
Prepare for the interview by brushing up on your CHAPS knowledge. Make sure you can discuss compliance, regulatory changes, and your experience with payment processing confidently. We want to see that you know your stuff!
✨Tip Number 3
Show off your problem-solving skills during interviews. Share specific examples of how you've tackled challenges in previous roles, especially related to risk management or regulatory compliance. We love a good story!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re genuinely interested in joining our team at the Bank of China.
We think you need these skills to ace Vice President - CHAPS Administration & Assurance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Vice President role. Highlight your experience with CHAPS and any relevant regulatory projects. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Share specific examples of your experience with CHAPS and how you've managed compliance in the past.
Showcase Your Analytical Skills: Since this role requires solid analytical skills, make sure to mention any relevant experiences where you've used these skills effectively. We love seeing how you approach problem-solving!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can’t wait to hear from you!
How to prepare for a job interview at Bank of China
✨Know Your CHAPS Inside Out
Make sure you brush up on your knowledge of the CHAPS payment scheme. Familiarise yourself with the rules, obligations, and any recent regulatory changes. Being able to discuss these confidently will show that you're not just familiar with the basics but are also ready to tackle the complexities of the role.
✨Prepare for Control Testing Questions
Since the role involves assessing the effectiveness of controls, be ready to discuss your experience with control testing. Think of specific examples where you've documented controls or engaged with auditors. This will demonstrate your hands-on experience and analytical skills.
✨Showcase Your Project Management Skills
The job requires managing regulatory change projects, so come prepared with examples of past projects you've led. Highlight your ability to coordinate across teams and meet deadlines. This will illustrate your organisational skills and your capability to handle fast-paced environments.
✨Emphasise Team Collaboration
As a Vice President, you'll need to work closely with various teams. Be ready to share experiences where you've successfully collaborated with others, especially in risk management or compliance contexts. This will highlight your team player mentality and your ability to navigate complex organisational structures.