Associate, Depositary Services - Global Equities

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Job Description

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 55 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.


Summary of business area:

Bank of America Custodial Services (Ireland) Limited (BACSIL) (“the Company”) acts as Depositary to collective investment schemes, managed accounts and institutional clients maintaining operating bank accounts, safekeeping of assets and trustee / depositary duties.  The Company is incorporated in Ireland under Registration No. 430806 and is licensed and regulated in Ireland by the Central Bank of Ireland. The Company is a wholly owned subsidiary of Bank of America Corporation.

The Company provides independent custody and depositary services to collective investment schemes, established in a number of jurisdictions (including Ireland, the United States, B.V.I. and the Cayman Islands) with well established links with third party administrators.


Role description:

The Depositary Services team within Global Custody and Agency Services (GCAS) provides depositary services to UCITS and Alternative fund structures (AIFs), as well as performing depositary lite functions. Such core responsibilities include acting solely in the interests of funds’ shareholders, to hold in safekeeping the funds’ assets and to provide oversight on the funds’ activities.

Reporting directly to the Depositary Services Manager, the Supervisor/Team Lead will be responsible for the day-to-day monitoring of client funds to ensure compliance with the requirements of the Central Bank of Ireland, the funds’ constitutional documents and internal procedures and policies.

Ongoing responsibilities will include supervising and signing-off on the depositary analysts output to ensure all day to day operational activities are conducted in an efficient and timely manner. This will include;

  • monitoring regulatory and prospectus investment restrictions, calculations of the funds NAVs and Transfer Agency activities, including sign-off of reviews
  • daily cash flow monitoring and asset verification checks
  • investigation and escalation of breaches, pricing and other errors to Management and/or Administrator/IM
  • supervising the effective maintenance of the breaches and error registers
  • managing cyclical regulatory reporting and uploads
  • contributing to the ongoing enhancement of procedures reflecting regulatory and business change
  • organising & participation in onsite visits to Administrators, Investment Managers, Global Sub-Custodian and Prime Brokers
  • dealing with ad hoc queries relating to the funds under custody
  • presenting to fund Boards of Directors where required, as part of the annual governance calendar

This is an excellent opportunity for a candidate looking to continue and widen their knowledge of the funds’ industry in a dynamic environment and to develop their career in tandem with a global growth company.


  • Have a third level qualification in a relevant discipline (business, accounting, law)
  • Have relevant supervisory funds experience with 3 – 5 years minimum in Depositary/Trustee
  • Exhibit a detailed understanding of fund structures, fund Regulations including UCITS Regulations and AIFMD
  • Demonstrate strong analytical skills, with high attention to detail
  • Demonstrate skills in leading, supervising and reviewing analysts work
  • Demonstrate good time management, ability to meet deadlines and be self motivated
  • Have experience with reviewing outputs from an investment compliance and cash monitoring system
  • Have the ability to work in a team environment, with other departments, external clients and fund counterparties
  • Have excellent communication and presentation skills
  • Display advanced knowledge of Microsoft Excel (desirable)
  • Have previous exposure to various Prime Broker portals and third party Administrator reporting

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Job Overview

Associate, Depositary Services - Global Equities

Bank Of America

  • Date Posted:Nov 30, 2021

  • Location:Dublin, Ireland

  • Job Role:Associate, Depositary Services

  • Salary: Not disclosed

  • Category:Other

  • Work Type:Not Disclosed

  • Work Mode:Not Disclosed