Director - Listed Derivatives

  • Competitive
  • Glasgow, Scotland, United Kingdom
  • Permanent, Full time
  • Morgan Stanley
  • 12 Dec 17 2017-12-12

See job description for details

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:
The Operations division is both the first line of defense 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.

Team Profile:
Institutional Client Service is responsible for all client related activity from booking through to settlement, covering both Cash Equity and Fixed Income products. Our clients are based in Europe, the Middle East and North Africa. The main functions that the team carries out are Booking, Pre match & Fails Management and Commission Management. The team relies on high levels of client service and risk management skills to be successful.

Primary Responsibilities:
The Listed Derivatives Control Function incorporates several teams looking after the over-arching control functions for Listed and OTC Clearing., specifically around Margin & Collateral and Client Money controls.

The Director role will have responsibility spanning across these Glasgow teams, with a specific focus on Client Money Compliance and Governance for the Listed Derivatives function. Delivery and management of key projects will also be a critical part of the VP role.

The LD Client Money Production team sits within ISG Prod Ops, Listed Derivatives and is ultimately responsible for:-
- Ensuring that the daily Normal Approach Client Money calculation is carried out accurately and in accordance with FRA regulations, in a timely manner. Primarily, this will involve assessing the evidence provided by reconciliation teams and making an assessment re the correct adjustment/treatment required from a Client Money regulatory standpoint. The role involves working with a large and varied stakeholder group including other Listed Derivatives teams, Operations Risk and Control, Technology & Data and Compliance.
Following a period of increased regulatory oversight on Client Money the team is also involved in a number of initiatives to improve processes and systems. Therefore in addition to the above daily process, the team is responsible for the delivery of multiple projects arising from the Client Money Control Framework review.

The Listed and OTC Cash Collateral Teams also sit within ISG Product Ops, Listed Derivatives, and is primarily responsible for:-
- Management and payment of all EMEA collateral calls received from multiple exchanges throughout the day, and maintaining strict control of all account usage and reconciliation.

The Director role is a challenging and rewarding one, providing opportunities to understand new businesses and processes whilst driving continual risk control improvement and strict adherence to regulatory compliance.


Skills Required

- The role requires clear and effective communication, interpersonal skills and analysis. Some business knowledge of Listed Derivatives financial products is preferable, but is not a pre requisite, however good communication skills, analysis skills and time management are essential along with supervisory/management experience

- The successful candidate will be well organized personally and need to be able to interact with people at all levels within the organization.

- 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, at all levels.

- The role is primarily one of controlling risk, therefore experience in managing high levels of risk and a keen attention to detail is required.

- 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.

- Accuracy and attention to detail is paramount along with diligence, excellent prioritization, and quick escalation.

- Good IT skills and proficiency with Microsoft Office applications.

- 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.

- Experience of dealing with regulatory issues, and in particular the CASS rules, is strongly preferred.

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