BANKING BUSINESS DEVELOPMENT AND MANAGEMENT ASSOCIATE

Company: Bank of China Limited, New York Branch
Location: New York
Posted on: October 23, 2024

Job Description:

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

The Associate will assist the Assistant Vice President with the execution of new business development strategy, identify and broaden new business opportunities and promote banking products and services to customers.

Responsibilities

Include but not limited to:

Business Development and Management

• Gathering and compiling financial and statistical data by conducting marketing research from related fields and peer competitive products.
• Utilize specialized model to deal with statistical information and extract effective data to generate graphs, tables and business proposals based on analytical findings and results
• Keep attention on current economic condition, market trends, customer demands as well as practicability of products to prepare and execute feasible marketing strategic plans.
• Develop and innovate various financial product and services to serve cross-border customers
• Assist in identifying new area for product designing, pricing, testing and monitoring product to minimize the risk and maximum profitability of policies, products and plans.
• Attend and present products at seminars hosted in local community or in China to promote the Bank's brand while attracting potential customer and business
• Evaluate performance of products after launching by measuring KPI, costs and profits, benchmark and gap analysis consistently to control their overall financial risk exposure and ensure the stability of business operations.
• Monitor and update existed policies/products timely to enhance product features and optimize utilities regarding most updated BOC policies and related regulatory guideline
• Run proven models continually to make financial projections about new products being launched
• Assist in preparing and explaining analytical proposals and findings to various stakeholders to help making decisions on pricing, product development and marketing planning.
• Confer with other departments to manage projects and deal with data discrepancies if any
• Participate in special projects like internet banking system upgrade, debit card function enhancement, mobile banking development and other duties as assigned by utilizing data analysis and project management skills Risk Management and Compliance
  • Understand, comply and monitor activities, if necessary, of all applicable laws and regulations
  • Forecast potential risk during launching the product or executing the strategies in accordance with economic/marketing conditions changes, specific policies, procedures and standards, to control cost and mitigate risks
  • Work closely with BSA, QCU and all IRMs departments to ensure all risk controls are being implemented effectively and correctly for all new and existing products and service that complying with compliance and regulatory requirements Qualifications
    • Bachelor's degree with major in business, financial, accounting or economics is required. A master or above degree with data statistical analysis skill preferred.
    • 1-2 years of work experience in banking business and banking operation.
    • Adequate knowledge of banking products and services
    • Knowledge of current market conditions, trends, products offered by competitors
    • Skill in analyzing and evaluating financial information
    • Marketing skills
    • Ability in developing new products and service
    • Expert knowledge and experience in writing, Power Point, and Excel
    • Supervisory and organizational skills.
    • Data compiling and statistical analysis is preferred.
    • Bilingual (ability to read, speak and write Chinese) is 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.

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