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Commodity Business Center - BSA Intern

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Bank of China

2mo ago

  • Internship
    Full-time
    Summer Internship
  • Business, Operations & Strategy
    Banking & Finance

AI generated summary

  • You must have a Bachelor’s degree, preferably in Finance or Economics.
  • You will assist in BSA/AML tasks, conduct KYC due diligence, monitor compliance risks, oversee loan portfolio performance, and coordinate reporting while escalating issues and proposing solutions.

Requirements

  • Bachelor’s degree required.
  • Preferred major in Finance/Economics.

Responsibilities

  • Assist the BSA Officer in performing Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) – related risk control and quality assurance tasks for Commodity Business Center.
  • Work with marketing team to perform KYC due diligence and BSA/AML monitoring in accordance to the Bank’s policies and applicable KYC procedures.
  • Identify, monitor, manage and report Compliance risk issues, and escalate to BSA Officer and Head of CBC.
  • Monitor the performance of CBC’s loan portfolio in accordance to requirements as spelled out in credit approval and legal documents.
  • Coordinate reporting between CBC and risk (RMD) / Operations (TSD and OSD).
  • Identify issues/concerns related to portfolio management, escalate to QCU Head and Head of CBC as appropriate and propose alternate solutions.

FAQs

What is the primary focus of the Commodity Business Center - BSA Intern role?

The primary focus is to support the BSA team with tasks related to Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) risk control and quality assurance for the Commodity Business Center.

What qualifications are required for this internship?

A Bachelor's degree is required, with a preferred major in Finance or Economics.

What types of tasks will I be performing as an intern?

Tasks include assisting the BSA Officer with BSA/AML-related risk control, conducting KYC due diligence, monitoring compliance risks, managing the loan portfolio performance, and coordinating reporting with various departments.

Is prior experience in finance or banking necessary for this internship?

While prior experience is not explicitly required, relevant coursework or internship experience in finance or related fields may be beneficial.

What is the pay rate for this internship position?

The pay rate for the internship is USD $17.00 per hour.

Will I be working independently, or will I collaborate with other teams?

You will be collaborating with various teams, including the marketing team and other risk and operations departments.

How long is the internship expected to last?

The job description does not specify the duration of the internship, so it's best to inquire about this during the application or interview process.

Will I receive any training during the internship?

While the job description does not specify training, it can be assumed that you will receive guidance and support from the BSA Officer and other team members.

Is there an opportunity for full-time employment after the internship?

The job description does not indicate opportunities for full-time employment; it is advisable to discuss this during your interview.

What kind of skills are advantageous for this internship?

Skills in risk assessment, compliance monitoring, attention to detail, communication, and teamwork are advantageous for this internship role.

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Bank of China

Finance
Industry
10,001+
Employees
1912
Founded Year

Mission & Purpose

Bank of China, include BOC Hong Kong, BOC International, BOCG Insurance and other financial institutions, providing a comprehensive range of high-quality financial services to individual and corporate customers as well as financial institutions worldwide. Over the past century, Bank of China played an important role in China’s financial history. It was established in 1912 pursuant to the approval of DR. Sun Yat-sen. In the following 37 years the Bank served as the central bank, international exchange bank and specialized foreign trade bank successively. In 1949, Bank of China became the state-designated specialized foreign exchange bank. In 2003, it was named by the State Council as one of the pilot banks for joint-stock reform of wholly state-owned commercial banks. On August 26, 2004, Bank of China Limited was formally incorporated in Beijing as a state-controlled joint stock commercial bank. Bank of China is the most internationalized commercial bank in China. BOC London Branch, the first overseas branch of the Chinese banks, was established in 1929. Currently, it had over 10000 domestic operations and over 600 overseas operations. In 1994 and 1995, Bank of China became the note issuing bank in Hong Kong and Macao respectively. The Bank prepared a new strategic development plan which was approved by the Board of Directors in March 2009. Strategic Positioning: To be a large multinational banking group based on a diversified and integrated cross-border business platform, with a core business of commercial banking. Strategic Goals: To be a leading international bank delivering growth and excellence.