Private Banking Operations Manager
Job Summary
The Private Banking Operations Deputy Manager oversees end-to-end operational processes, ensuring accuracy and efficiency in investment product and wealth management transactions. The role involves managing settlements, reconciliations, payments, and corporate actions while supporting internal and external stakeholders. The position also requires supervisory capability to guide junior team members and a focus on continuous process improvement and risk control.
Responsibilities
- Manage end-to-end private banking trade operations
- Perform reconciliations and resolve settlement exceptions
- Execute payments, remittances, and corporate actions
- Lead UAT and process improvement initiatives
- Supervise and guide junior team members
Required Skills
- Banking Operations (Min 8 years)
- Private Banking/Wealth Management
- Avaloq System proficiency
- SWIFT Alliance
- English and Chinese fluency
Job Details
### Core Responsibilities
**1. Private Banking Trade Operations and Investment Product Processing**
- Supporting the full investment transaction lifecycle across products including bonds, equities, mutual funds, structured products, and private equity funds.
- Handling trade booking, reviewing trade details for accuracy, and processing trade confirmations.
- Monitoring trade settlement status and resolving operational exceptions.
**2. Settlements, Reconciliations, and Exception Management**
- Performing daily cash, position, transaction, and nostro reconciliations.
- Investigating reconciliation breaks and coordinating resolution with relevant parties.
- Strengthening control checks to reduce operational risk.
**3. Remittances, Deposits, Payments, and Asset Transfers**
- Processing client deposits, withdrawals, remittances, and internal transfers.
- Validating payment instructions and processing payments through SWIFT Alliance.
- Managing asset transfers and liaising with custodians and correspondent banks.
**4. Corporate Actions Processing**
- Reviewing corporate action notifications and disseminating information to internal stakeholders.
- Coordinating client elections and tracking entitlements, distributions, and coupon payments.
- Reconciling corporate action proceeds and maintaining accurate records.
**5. Client Statements, Trade Advices, and Reporting**
- Generating and distributing client trade advices and account statements.
- Preparing periodic operational reports for management.
**6. System Enhancement, UAT, and Change Initiatives**
- Participating in system enhancements, process automation, and user acceptance testing (UAT).
- Identifying system gaps and collaborating with technology teams to implement solutions.
**7. Process Improvement and Risk Reduction**
- Proactively identifying opportunities to streamline workflows and improve efficiency.
- Maintaining standard operating procedures and promoting a risk-aware operations environment.
**8. Stakeholder Management and Team Support**
- Collaborating with front office, compliance, finance, and external counterparties.
- Providing guidance to junior team members and assisting in daily operational priorities.
### Requirements
- Bachelor’s degree in Business Administration, Banking, Finance, Accounting, or related field.
- Minimum 8 years of relevant experience in banking operations (Private Banking/Wealth Management preferred).
- Strong expertise in settlements, reconciliations, payments, remittances, and investment operations.
- Prior involvement in UAT, system enhancement, or process improvement initiatives.
- Working knowledge of Avaloq system is highly preferred.
- Proficiency in SWIFT Alliance operations.
- Strong analytical, problem-solving, and attention-to-detail skills.
- Fluent in spoken and written English and Chinese (for liaison with headquarters).
- Ability to work under pressure in a deadline-driven environment.
- Some supervisory experience is preferred.
- Singapore Citizens or Permanent Residents preferred.