EU Payments Control Director/Associate

  • Competitive
  • Glasgow, Scotland, United Kingdom Glasgow Scotland GB
  • Permanent, Full time
  • Morgan Stanley
  • 23 Apr 18 2018-04-23

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 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.

Team Profile:
SSBO provides utility processing services to Global Operations. By functionalizing processes across segments, SSBO realizes efficiencies through scale, location strategy and adoption of best practices. SSBO provides quality operational core processes at an optimal price point, with maximum benefit to MS business lines. Services currently provided by SSBO include Cash Management, OTC Derivative and Security Settlements, Position Services, Reconciliations, Tax, Client Reference Data; AML Client and Transaction sanction screening, Network Management and Vendor Management.

Payment Control consists of several teams and is responsible for ensuring incoming and outgoing payments are in a secure and accurate state and appropriate regulatory screening is taking place.

The Suspense Utility team is responsible for accurate and timely same day matching and investigation of cash received within Morgan Stanley across multiple markets, accounts, asset classes and currencies.

The team is responsible for controlling day to day risk by performing matching and manual settlement, investigating unapplied funds and liaising with a wide range of Business Unfits across the firm. The team are directly responsible for ensuring Client Money obligations are met accurately and timely. The Suspense Utility team is also responsible for working closely with Business unit partners across the firm to find efficiencies in the day to day process as well as improving the risk profile of the function.

Furthermore, The Team provides vendor management oversight of various functions performed by the vendor and ensures all tasks are completed as required while acting as an escalation point of contact.

Primary Responsibilities:

Payment Control Group and are responsible for ensuring ongoing compliance to Firm-wide payment Policy and tracking remediation of non-compliance. This team serves as the Firm's subject matter experts for all payment activities and provides training and education to the payment community globally.

The candidate will be responsible for:

- Maintaining business area policy exceptions and tracking remediation
- Performing quarterly payment community survey
- Managing one off exception requests to the Funds Transfer Policy
- Collating data for payment surveys and audits
- Reviewing the survey responses to identify gaps in control process for payment execution
- Developing and implementing testing and validation program to sample check adherence to the Funds Transfer Policy including tracking delinquent areas and monitoring remediation
- Overseeing exceptions to the 3rd Party Banking Application Policy for teams that use 3rd Party Payment applications as it relates to payment execution


Skills required:
- Experience in Financial Services industry (desirable)
- Experience in Operations (desirable)
- Product Knowledge: basic banking & payment knowledge desirable (but not essential)
- The ability to interpret survey result is essential)
- Technology Skills: Good / Advanced level of technology skills in the use of Access, Excel, Word & PowerPoint
- Confident, well-rounded, methodical person with strong analytical skills
- Self-motivated, pro-active , and have the ability to work consistently and efficiently to achieve goals, either as an individual or as part of a team
- Attention to detail and accuracy is essential
- Task orientated and inquisitive in nature

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