Client Money Production Associate
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
The Operations division is both the first line of defence for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back. One of the largest divisions in the firm, Operations has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, we continually strive to improve while actively supporting the development of new businesses, structures and markets.
The Client Money Team is responsible for ensuring all the daily Client Money calculations are carried out according to FCA regulations and in a timely manner, working with Operations, Treasury, IT and Compliance. In addition to the above daily processes, the team is responsible for the production of the month end reporting for Client Money and ongoing program of process improvements and regulatory, systems and ad hoc changes.
The team is structured along 4 functional areas:
- Production - performing the daily calculations, monthly FCA returns, stakeholder engagement
- Production support - change management, project delivery, process improvement, new product approval
- Risk & Control - breach process, risk reviews, training coordination
-Governance - coordination of governance requirements, audits, FCA interaction, ad hoc requests.
This role is in the Production team at the associate level. There will be a defined program of training, including exposure to all functions of the team to build out knowledge and network.
The successful candidate will be responsible for the following:
- Carrying out one of the daily Client Money calculations
- Interacting with users, analyzing and escalating issues
- Responsible for dealing with dealing with senior management and multiple stakeholder groups
- Completing aspects of month end and quarter end reporting and the production of timely and accurate management information, therefore ability to assimilate multiple sources of information and produce succinct, accurate summary will be required
- Working with team management on future developments due to changes in business or market practice
- Working with Compliance on strategic initiatives where specific assistance is required
- Interacting with the on-going Client Money project team
- Liaise with the relevant Operations teams in Glasgow, London and various offices globally
Experience of dealing with regulatory issues, and in particular the CASS rules, would be beneficial, but is not a pre-requisite of the role.
Skills required (essential):
- The role requires clear and effective communication, interpersonal skills and analysis. Some business knowledge of financial products is needed, which can be developed, however good communication skills, analysis skills and time management are essential.
- The successful candidate will be well organized personally and need to be able to interact with people at all levels within the organization.
- The role is a challenging and rewarding one, providing opportunities to understand new businesses and processes where they impact the calculation.
- This role has no line management responsibility, but the successful candidate will need to manage the large user group of the key AQUA system in order to get the answers needed to complete the daily functions. They will also need to have the confidence to interact with senior people for signing off the calculations, or when escalation is required.
- Good communication is essential due to the nature of the role. This means clearly communicating what is needed, when answers are required, understanding the answers provided and being able to communicate the information effectively when an issue needs to be escalated.
- The successful candidate will be a team player who works well face to face and remotely. The sharing of information is key to the success of the team.
- Quick learner and desire to develop in the specialized role.
- In addition, the successful candidate will be expected to manage and take ownership for issues effectively and this will involve influencing skills to ensure issues are resolved effectively and at the right level.
- Good IT skills and proficiency with Microsoft Office applications (particularly Excel)
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.*LI-AM1