Global Operations Position Control – Team Manager – AVP in Morgan Stanley Glasgow,Scotland,UnitedKingdom

Website Morgan Stanley

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About the job

Company Profile

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.

Department Profile

ISG Product Operations is a world-class global team of dedicated professionals, performing myriad functions, all with a common purpose: to manage Morgan Stanley’s Clearing and Trading & Client operational processes and deliver value to our clients in a controlled and efficient way. The broad organization partners closely with Sales and Trading to develop and implement new products and services as well as drive efficiency and reduce risk in our processes. At all times we are focused on delivering quality service to clients both internal and external. ISG Product Operations encompasses two functionally aligned organizations. The first, Trading & Client Operations, provides Operations functions in direct support of activity executed by Institutional Sales & Trading. The second, Clearing Operations, provides Operations functions in direct support for activity cleared by Morgan Stanley on behalf of our clients in Prime Brokerage, Listed Derivatives, and OTC Derivatives.

Since 2007 Morgan Stanley has been expanding its own fully owned premier investment banking and sales & trading platform in India, providing a full range of investment banking, sales & trading, equity, fixed income, commodities, and derivative products, as well as research services. Building on this existing platform in India, we are looking to invest in establishing a Trading Operations division that will continue to recognize and match the global need of our clients.

Team Background

Global Operations Position Control (GOPC) is part of the Trading Operations department with teams located in Glasgow, Mumbai, and Bangalore. The team performs a pivotal role, ensuring that there is integrity around the completeness and accuracy of the market risk information across all the ISG businesses – Equity, Fixed Income and Commodities. This information is being used daily by traders, risk management, P&L controllers, and Operations, specifically as a vital component of the daily PnL provided to the front office and the VAR analysis performed by the Market Risk Department.

GOPC Have Two Principal Objectives

  • Identification, escalation, and resolution of inconsistencies in the market risk information (position, market value etc.) between risk systems and the firm’s books and records on a daily basis;
  • Elimination of the root cause of the exceptions.

The department is comprised of a mixture of Operations and Finance professionals with a varied skill set, which enables them to leverage/manage cross- divisional technology and business requirements to meet the needs of their clients. GOPC are expanding their current remit to meet the growing demands of the firm and the evolving regulatory requirements of the industry.

The Primary Functions Performed By The Team Are

  • Substantiation of Dividend/Coupon income accrued against the expected PnL;
  • Reconciliation of Trader’s Risk products and positions to Firm books and records and investigation and resolution of breaks;
  • Monitoring of specific system error queues, which require investigation and resolution to ensure the trade flows downstream;
  • Reconciliation of internal interest rate swaps;
  • Processing upcoming swaps maturities;
  • Investigation and resolution of realised cash flow breaks;
  • Production and distribution of swap reporting highlighting specific exceptions that require specific actions to resolve.

The role involves liaising with the regional Equity & FID Derivative Middle Office Teams & Management, the Finance Control Group, IT, and other operational support areas to ensure that controls are maintained, and breaks are understood and resolved in a timely manner.

Primary Responsibilities

Team Management

  • Provide daily oversight and support for team members to help them achieve their daily goals and requirements;
  • Resolve any daily resourcing issues that may arise;
  • Help to shape and execute the Control, Commercial and People Agenda for GOPC regionally and globally;
  • Provide career coaching and development for team;
  • Ensuring all controls and processes within the responsibility of the team are completed and continually evolving in line with the requirements of the team and Firm;
  • Ensuring that all outputs are produced to a first class standard;
  • Ensuring deadlines are met and where possible exceeded;
  • Providing accurate and timely escalations to line manager;
  • Demonstrate ownership by being accountable for any issues highlighted within their control processes;
  • Developing and maintaining relationships with key stakeholders and business partners;
  • Timely escalation of issues to key stakeholders and business partners to ensure effective resolution.

Change Agenda and Business Process Improvement

  • Actively seeking out opportunities to improve the teams control framework and ensuring controls are carried out in as efficient a manner as possible;
  • Ownership of the resolution of issues identified through the root cause of issues highlighted through control processes;
  • Delivering projects within agreed deliverables.

Management Reporting

  • Ensure the accurate and timely reporting of all key client outputs and management reporting;
  • Production and Development of Management Information;
  • Production of Metrics and Stakeholder packs;
  • Ensuring the quality and timeliness of all outputs of the team are to the required standard.

Data Analysis

  • Reconciliation of internal firm systems, to ensure the completeness and accuracy of the data used at the various stages of the trade life cycle;
  • Completion of daily and monthly proof and control reports to demonstrate the completeness and accuracy of PnL data;
  • Investigate exceptions through interrogation of the Firms risk and financial systems;
  • Providing accurate and timely escalations to line manager;
  • Pro-actively carrying out root cause analysis on break data to identify and then eliminate common break types, while communicating these successes;
  • Ensuring existing procedures are documented, kept current and complied with through periodic review.

This is not exhaustive, and tasks and responsibilities may change to maintain our high levels of service.

Qualifications

Skills Required (Essential)

  • Minimum Bachelor or Masters’ degree.

Experience

  • Minimum 5+ years’ experience.

Skills Required (Desired)

  • Prior experience in investment banking operations or finance;
  • Knowledge of accounting principles (e.g. understanding of P&L calculations and reporting in banking context);
  • Trade booking/flow knowledge.

Competencies

Leads And Develops Others

  • Sets high standards and stretch goals to create high performing teams and individuals;
  • Creates or identifies challenging opportunities to develop employees (including active mobility) and has clear and realistic succession plans;
  • Takes ultimate responsibility for developing team performance and morale;
  • Contributes to the performance of others through regular, direct, and constructive feedback.

Product Knowledge

  • Exposure and understanding of Equity and Fixed Income Derivative Products;
  • Exposure and understanding of Corporate Actions.

Exercises sound judgment and analysis

  • Comprehends and reasons – Displays well developed ability to comprehend, reason and process complex data;
  • Demonstrates excellent attention to detail when analyzing or interpreting data;
  • Breaks down problems/issues into smaller, more manageable parts;
  • Asks appropriate questions to source and validate data to support comprehensive analysis; consults subject matter experts where needed;
  • Skillfully identifies problems, builds solutions, and applies lessons learned to parallel situations;
  • Anticipates problems / obstacles and understands the ramifications to business. Offers workable solutions.

Demonstrates Commitment to Control and Risk Management

  • Escalates clearly and appropriately;
  • Capable of, or experienced in, meeting daily deadlines;
  • Capable of, or experienced in, prioritizing multiple tasks when required.

Communicates Effectively

  • Capable of open, accurate and concise communication at all times, whether through email or phone;
  • Confident of communicating across many different areas and across levels.

Technical Knowledge/Experience

  • Experienced with MS Office (MS Excel/Access/Outlook etc);
  • Track record of learning or adapting to new technology systems and applications.

Teamwork

  • Works effectively and builds relationships with colleagues;
  • Willing to perform additional tasks, when required, to help team meet its control goals.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential.

Posting Date

Aug 3, 2022

Primary Location

Europe, Middle East, Africa-United Kingdom-United Kingdom-Glasgow

Job

Other

Employment Type

Full Time

Job Level

Director

Company: Morgan Stanley

Vacancy Type: Full Time 

Job Location: Glasgow,Scotland,UnitedKingdom

Application Deadline: N/A

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