Operations - Trade and Transaction Reporting, Vice President (Hong Kong)

  • Competitive
  • Hong Kong Hong Kong Hong Kong HK
  • Permanent, Full time
  • Morgan Stanley
  • 26 Apr 18 2018-04-26

See job description for details

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 42 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.

(Trade and) Transaction Reporting Operations (TTRO) is responsible for the timely and accurate reporting of transactions in line with the obligations for the jurisdictions that TTRO is reporting. The TTRO is already comprised of teams in London, Glasgow, Mumbai, New York and Hong Kong. A selection of vendors and service providers are leveraged in the process. The team was seeded in 2016 and is presently engaged in: a) the identification and resolution of any outliers in current state reporting; b) development of platforms and processes in accordance with upcoming regulation change and implementation; c) strategic design of future state information technology and, when required, tactical implementations ahead of strategic change. The TTRO liaise with various internal and external counterparties on a daily basis, including OTC, listed derivative and financing Operations teams, sales trading representatives, non-market risk leads, Legal and Compliance teams, information technology, trade organisations such as ISDA, AFME and FIA, and utilities such as DTCC and Unavista. The criticality of the function ensures senior management engagement and a high profile for those in the team.

Primary Responsibilities:

The role is dynamic and the incumbent will be required to demonstrate flexibility in response to an expanding book of work commensurate to the opportunities outlined in the above Team Profile. The incumbent will be required to provide TTRO with strong management presence in Hong Kong, able to deal with local escalation, queries and issue resolution. They will represent Global TTRO to local senior Operations management, Compliance and the Business Units and also on industry forums and working groups. They will also be a detailed subject matter expert for trade and transaction reporting in the APAC region.

The role forms part of a global team and therefore, although based in Hong Kong, the person can expect to work on, and have an understanding of, global initiatives and regulations.

The incumbent will be expected to have product and transaction reporting knowledge and to be able to quickly develop this further to be able to support the delivery of an improved control framework for transaction reporting, an improvement in performance for current reporting and the implementation of new regulatory reporting, for example, MAS Phase 3 and upcoming reporting platform re-architecture. In addition, the role will involve supporting businesses in understanding the regulatory reporting impacts of new products (New Product Approval process) and working with Legal and Compliance in responding to any regulatory enquiries.

The incumbent will work closely with the TTRO APAC ‘change the bank’ team already based in Hong Kong, supporting development for any regulatory change. In a ‘run the bank’ capacity they will also be able to talk to and help to prioritise day to day reporting controls and metrics. The role requires a capability and enthusiasm for working in the detail when necessary and being able to carry out effective root cause analysis and problem solving.

Responsible to a manager based in London, the person will be required to work fairly autonomously, to be highly credible as the ‘go to’ person for management, Legal and Compliance and the business units in Hong Kong seeking TTRO guidance or updates and, be able to represent TTRO ‘on the ground’ in internal and external meetings. They will need to have strong communication and teamwork skills that enable them to work with the global team and to escalate quickly and appropriately.

At the outset, the incumbent will be expected to establish effective reporting focused on controls and remediation efforts for APAC regulations and the APAC impact of MiFID II, working with the global TTRO team and local Hong Kong Trading Ops.


  • Strong derivatives and cash product knowledge
  • Evidenced understanding of transaction reporting requirements. These first two required skills can be balanced against each other i.e. greater strength in one may enable less strength in the other.
  • A track record of root cause analysis and problem solving and the initiative, tenacity and ability to multi-task and grasp new concepts quickly.
  • Evidenced understanding of operational control framework elements e.g. reconciliations, exception queue management and the ability to escalate appropriately.
  • Strong stakeholder engagement, including internal Business partners, External Clients and IT partners.
  • Conscientious, for example, in seeing issues to a thorough conclusion and to the satisfaction of all parties.
  • Collaboration and teamwork skills and experience, including strong interpersonal skills
  • Client service and communication skills and the ability to interact with colleagues at all levels.
  • Prioritisation and time management skills.
  • Ability to work under pressure and achieve results, whilst maintaining a professional, friendly and client focused approach.
  • Self-motivated and resilient.
  • Demonstrated change agent capability.