Job Purpose
The Private Banking Operations Deputy Manager will be responsible for supporting and overseeing the end-to-end operational processes within the Private Banking business. The role ensures that all investment products and wealth management transactions are processed accurately, efficiently, and within agreed timelines, while maintaining strong operational controls and minimizing risk.
This position plays a key role in supporting the Private Banking front office, middle office, compliance, finance, custodians, brokers, fund houses, and other internal and external stakeholders. The successful candidate will be expected to handle day-to-day operations across settlements, reconciliations, payments, remittances, corporate actions, trade processing, and system or process improvement initiatives.
As this is a Deputy Manager level position, the bank is looking for someone who not only has strong hands-on Private Banking or Wealth Management Operations experience, but also some level of supervisory capability, ownership, and the ability to guide junior team members where required.
Key Responsibilities
1. Private Banking Trade Operations and Investment Product Processing
The Deputy Manager will be responsible for supporting the full investment transaction lifecycle across a range of Private Banking and wealth management products. These products may include, but are not limited to, bonds, equities, mutual funds, structured products, dual currency investments, fixed coupon notes, structured deposits, private equity funds, and other investment instruments.
Key responsibilities include:
- Handling trade booking and ensuring transactions are captured accurately in the relevant banking systems.
- Reviewing trade details to ensure completeness and accuracy before settlement.
- Processing trade confirmations and coordinating with relevant internal teams or external counterparties.
- Monitoring trade settlement status and following up on any outstanding or failed settlements.
- Managing settlement instructions and ensuring trades are settled within market deadlines.
- Investigating and resolving trade discrepancies, settlement breaks, or operational exceptions.
- Ensuring operational processes are carried out in accordance with bank policies, regulatory requirements, and internal control standards.
2. Settlements, Reconciliations, and Exception Management
A key focus of this role is to support settlements and reconciliations across Private Banking products and accounts. The candidate will be expected to have a strong foundation in operational control, break investigation, and timely issue resolution.
Responsibilities include:
- Performing daily cash, position, transaction, and nostro reconciliations.
- Identifying discrepancies between internal records, custodian statements, broker confirmations, and client account records.
- Investigating reconciliation breaks and coordinating with relevant parties to resolve issues.
- Monitoring outstanding settlement items and ensuring timely closure.
- Escalating unresolved or high-risk exceptions to management when required.
- Ensuring proper documentation of reconciliation findings and resolution actions.
- Strengthening control checks to reduce operational risk and improve processing accuracy.
3. Remittances, Deposits, Payments, and Asset Transfers
The role will also involve handling payment and cash movement activities for Private Banking clients, including remittances, deposits, and asset transfers.
Responsibilities include:
- Processing client deposits, withdrawals, remittances, and internal transfers.
- Handling asset transfers, including securities transfers, fund transfers, and custodian-related movements.
- Preparing and validating payment instructions before execution.
- Processing payments through SWIFT Alliance, including the release of SWIFT payment messages where authorized.
- Ensuring payments are processed accurately and in compliance with internal policies, sanctions screening, and regulatory requirements.
- Liaising with internal teams, correspondent banks, custodians, and counterparties to resolve payment or transfer issues.
- Monitoring failed, delayed, or rejected payments and ensuring timely follow-up.
4. Corporate Actions Processing
The Deputy Manager will be involved in handling corporate action events for Private Banking clients across mandatory, voluntary, and elective events.
Responsibilities include:
- Reviewing corporate action notifications from custodians, issuers, or market data sources.
- Disseminating relevant corporate action information to internal stakeholders and, where required, client-facing teams.
- Coordinating client elections for voluntary or elective corporate actions.
- Monitoring election deadlines and ensuring instructions are submitted within the required timeline.
- Tracking entitlements, proceeds, stock distributions, coupon payments, redemptions, and other corporate action outcomes.
- Reconciling corporate action proceeds and resolving any discrepancies with custodians or counterparties.
- Maintaining accurate records and supporting audit or compliance reviews when required.
5. Client Statements, Trade Advices, and Reporting
The role will support the generation, review, and distribution of client-facing and internal operational reports.
Responsibilities include:
- Generating and mailing trade advices to clients in a timely and accurate manner.
- Supporting the preparation and dispatch of client account statements.
- Preparing periodic operational reports for internal stakeholders and management.
- Ensuring reports are accurate, complete, and aligned with regulatory or internal requirements.
- Supporting documentation and record-keeping for audit, compliance, and operational control purposes.
6. System Enhancement, UAT, and Change Initiatives
The candidate will be expected to participate in system enhancements, process automation, user acceptance testing, and operational change initiatives. Avaloq knowledge will be highly advantageous, as it is the bank's core platform for Private Banking operations.
Responsibilities include:
- Participating in system enhancement projects and operational change initiatives.
- Supporting user acceptance testing for new systems, system upgrades, product launches, and process changes.
- Preparing or reviewing UAT test cases, test results, and issue logs.
- Identifying system gaps, operational pain points, and areas for workflow improvement.
- Working with technology, project, operations, and business teams to implement solutions.
- Supporting post-implementation checks and ensuring process changes are properly embedded into daily operations.
7. Process Improvement and Risk Reduction
The Deputy Manager will be expected to proactively identify opportunities to streamline operational workflows, improve efficiency, and reduce operational risks.
Responsibilities include:
- Reviewing existing operational workflows and identifying areas for improvement.
- Proposing practical solutions to reduce manual work, improve controls, and increase processing efficiency.
- Supporting initiatives to standardize procedures and improve turnaround times.
- Maintaining or updating standard operating procedures, checklists, and control documentation.
- Helping the team strengthen operational discipline and reduce recurring errors or breaks.
- Promoting a control-focused and risk-aware operations environment.
8. Stakeholder Management and Team Support
The role requires close collaboration with both internal and external stakeholders. The candidate should be comfortable communicating with front office teams, middle office, compliance, finance, custodians, brokers, fund houses, and head office counterparts.
Responsibilities include:
- Working closely with Private Banking relationship managers and assistants to resolve operational issues.
- Liaising with middle office, compliance, finance, and risk teams on transaction-related matters.
- Coordinating with external counterparties such as custodians, brokers, banks, fund houses, and product providers.
- Supporting communication with Chinese-speaking headquarter counterparts when required.
- Providing guidance and support to junior operations team members where necessary.
- Assisting the team lead or department head in managing daily operational priorities.
- Supporting ad hoc projects, management reporting, operational reviews, and other duties as assigned.
Requirements
- Bachelor's degree in Business Administration, Banking, Finance, Accounting, or a related discipline.
- Minimum 8 years of relevant experience in banking operations, preferably within Private Banking, Wealth Management, or Priority Banking Operations.
- Strong experience in settlements, reconciliations, payments, remittances, or investment operations.
- Exposure to Private Banking or wealth management products such as bonds, equities, funds, structured products, or deposits will be advantageous.
- Prior involvement in UAT, system enhancement, process improvement, or operational change initiatives is preferred.
- Good understanding of operational risk, controls, reconciliation processes, and settlement workflows.
- Avaloq system knowledge is highly preferred, as it is the bank's core Private Banking platform.
- Experience using SWIFT Alliance or handling payment release activities will be advantageous.
- Ability to communicate effectively with internal stakeholders, external counterparties, and head office teams.
- Proficient in spoken and written English and Chinese, as the role requires liaison with Chinese-speaking headquarter counterparties.
- Strong analytical, problem-solving, and follow-up skills.
- Good attention to detail and ability to work under pressure in a deadline-driven environment.
- Some supervisory experience or ability to guide junior team members will be preferred.
- Singapore Citizens or Permanent Residents are preferred.
- Candidates with notice periods of one month or less will be prioritized.
Role Level and Team Context
This is a Deputy Manager level role within the Private Banking Operations team. The current team consists of four members, and this position is a replacement headcount. The bank is looking for one backfill to strengthen the team's operational capability.
The ideal candidate does not need to have full product coverage across every Private Banking product. However, the candidate should have strong transferable operations experience, especially in settlements, reconciliations, remittances, payments, UAT, and process improvement. Candidates with strong experience in specific Private Banking operational areas, particularly settlements and payments, will be highly considered.
Interestedcandidates are encouraged to submit their resumes along with a cover letteroutlining their relevant experience and achievements to [Confidential Information] click apply now!
..We regretto inform that only shortlisted candidates would be notified..
TalentvisSingapore Pte Ltd | EA License No: 04C3537
EA PersonnelName: Reggie Tiongson | EA Personnel No: R1324767
