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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. Glasgow Profile:
Morgan Stanley’s Glasgow office employs in excess of 1,300 staff across Operations, Technology, Legal and Compliance, Internal Audit, Fund Services and Finance. Due to our growing business, we have a demand for career minded people to join our teams. Our opportunities offer unrivalled scope for progression and training within a fast paced, meritocratic and constantly changing environment. Morgan Stanley pride themselves on maintaining a culture which champions diversity, an inclusive environment for all, recognition and an opportunity to give back to our communities through various local charity partnerships. The office is located centrally and enjoys the additional benefits of an onsite gym and restaurant. Department Profile:
The Finance Division globally reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firm’s books and records, and by contributing to firm wide risk management and risk reduction. This division maintains relationships with Morgan Stanley’s various industry and government regulators, and also serves as the conduit of financial information to the outside investment community. Finance plays a critical role as advisor to Morgan Stanley’s various businesses and its senior management team.
The Glasgow Finance team is over 220 strong and spans a wide range of functions including: Product Control; Market Risk Control; Liquidity Control; Treasury Currency Management; Compensation Control; Tax; Legal Entity Control and Governance; Accounting Advisory Services; General Ledger Governance; Regulatory Reporting and Finance Risk. The variety and scope of our opportunities across all levels allows our employees to enjoy fulfilling and challenging long-term careers. In order to maintain this we require finance professionals of all levels, both qualified and non-qualified, who are committed to working in a challenging and ever evolving industry. For non-qualified candidates we actively support a number of professional qualifications. T eam Profile:
An opportunity exists to join Global Advisory & Policy (GAP) within Finance. GAP is an independent regulatory & accounting advice and review function for the US, UK and, to a lesser extent, other regions globally. It provides centralised expertise for financial regulatory & accounting matters.
The role is based in the Glasgow office and will functionally sit within the Regulatory Policy team within GAP but the candidate may be expected to work on both accounting and regulatory matters as required. The Regulatory Policy team within GAP provides specialised technical advice on regulatory capital and liquidity issues to all areas of the firm in order to ensure that it continues to meet minimum regulatory requirements and does so in an efficient way.
Given the continued high profile of regulation, both in Europe and globally, Regulatory policy is a strategically important area.
Key internal clients include Regulatory Controllers, Treasury, Risk and Firm Management. In addition, significant support is provided to the Business units on new transactions and optimal structuring of existing transactions. Primary Responsibilities:
The Regulatory policy team is a key point of contact for any regulatory related issues. This will result in exposure at the highest levels across corporate reporting and all business units, with close involvement in transaction activity. The Regulatory Policy team has a highly visible role within the organisation and has regular contact with senior management within fixed income, equity and investment banking divisions. The team has close liaison with credit risk and market risk areas of the firm in relation to the firm’s approach to various aspects of VaR and the exposure and rating methodologies used within credit risk. The team also support Treasury, Liquidity, Investments & Funding Controllers LIFC and Liquidity Risk Department LRD with liquidity related regulation and reporting issues.
Precise day-to-day responsibilities will vary over time depending on team priorities but is expected to include:
- Evolving Regulatory agenda
- Run the Evolving Regulations communications process. The team has primary responsibility for identifying new or evolving regulations. This role will play a key part in that process:
- Monitor and capture new regulatory publications
- Prepare communications on evolving regulations for key stakeholders.
- Support development of new strategic process, including extension to other jurisdictions.
- Liaison with other functions across Morgan Stanley who play a similar role e.g. Government relations, Legal & Compliance, Risk etc.
- Support and engage in wider team work in reviewing and communicating on new regulations e.g. finalisation of Basel III, implementation of these standards in Europe (via CRR), other evolving European legislation.
- Co-ordinate EBA Q&A review process.
Regulatory policy Development & Implementation
- Involvement in developing Morgan Stanley policy and interpretations relating to Capital and Liquidity requirements.
- This involves liaising with the appropriate people across Morgan Stanley in order to develop a Morgan Stanley position and influence and assist with the policy work being undertaken by trade associations, regulators and European bodies.
- Provide advice to other functions responsible for implementing policy conclusions.
- Active involvement with industry working groups (e.g. AFME and ISDA), as appropriate.
New Business Initiatives
- Performing an advisory service for the Business Units on specific transaction and business related issues in order to ensure regulatory requirements met.
- Involvement in the business and product reviews undertaken by the team to provide assurance that relevant regulatory requirements are being met.
- Continuously working to ensure we take advantage of efficiencies.
- Involvement in a diverse range of project work, including implementation of new regulatory requirements, the setting up of new regulated entities globally, applications to the PRA.
- Provide support to the review of historic liquidity interpretations as well as the internal quality assurance reviews. Qualifications: Skills Required:
- Knowledge and understanding of the regulatory environment in which banks operate, including the role of Basel in setting international standards.
- Ability to work in a challenging environment and be comfortable communicating with people of all levels and experience.
- Strong writing and oral communication skills
- Self-motivated, approachable, and able to absorb technical information and eager to both learn and coach.
- Ability to balance well the guardianship and client service responsibilities and have a strong appreciation of franchise risk. Skills Desired:
- While detailed knowledge of key regulations in Europe, such as the Capital Requirements Regulation and the requirements such regulations impose e.g., Liquidity Coverage Ratio, Net Stable Funding Ratio etc., would be beneficial, it is not essential. Candidates should however have a strong interest in developing knowledge in this area.
- Experience in a Regulatory control / Product control function of a financial institution or similar function, with exposure to a range of asset classes and businesses.
- CA/CPA/ACCA or equivalent would be beneficial but again not essential.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more. 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-CL3