Financing Collateral Operations, OTC Collateral - Director (AVP)

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Morgan Stanley
  • 23 Jan 18 2018-01-23

See job description for details

ISG Product Operations: Director, Operations Specialist - Financing Collateral Operations, OTC Collateral

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

The Collateral Management Department (CMD) is responsible for managing credit exposure of OTC derivative positions across multiple businesses at Morgan Stanley, including Fixed Income and Equity Derivatives. The team is a global group with offices in London, Glasgow, New York, Baltimore, Tokyo and Hong Kong and has a combined staff of approximately 100 individuals.

There is currently a position available for an individual at the Director level, within the OTC collateral team in London. The successful candidate will be working in a dynamic and challenging environment, covering day-to-day collateral dispute management, interest & client money process.

Primary Responsibilities

The individual will be responsible for the management of controls within the OTC Bilateral Collateral team, with a focus on overseeing the department's CASS client money requirements.

This includes oversight of existing, daily client money controls and on the newly implemented MTR process. The rule requirements are complex and encompass multiple control checks. Additionally the newly implemented MTR requirements will involve a lot of focus and verification as this is rolled out. Furthermore, there is technology budget available to enhance and streamline the process - the candidate should be someone with an eye for implementing new processes. The role will involve collaboration with other groups including Compliance, Technology, Risk, Projects and the BU, The successful candidate is expected to contribute at a VP level over the coming years

Responsibilities of the role include:

- Ensure adherence to regulatory requirements for client money, but also UMR, MIFID II
- Contribute towards creating firm's control network to adhere upcoming regulatory changes
- Represent collateral management team facing off with Business Unit, Technology and project team.
- Provide escalation point for internal team members
- OTC derivative exposure management for Morgan Stanley
- Proactively explore tactical and strategic solutions to close identified control gaps, working with other groups as appropriate.
- Maintain a clear focus on enhancing control and continuously improving and reducing operational risks.
- Troubleshoot problems arising on an ad-hoc basis and react to Business Unit and Client driven demands.
- Work with multiple units in Operations, Business Unit and Technology on projects and initiatives, in particular in respect of client money
- Strong team working skills with supervisory and line trade processing experience.


Skills Required:

- Bachelor's Degree or equivalent: analytical, financial or mathematically related subject favoured
- Candidate will have prior exposure of derivative products and preferably have experience with OTC derivative products, including a basic understanding of pricing inputs
- Candidate should have a good understanding of front to back trade booking flows
- Some understanding of the key fields within a CSA document impacting margin calls
- An awareness of recent regulatory developments impacting OTC collateral
- Some knowledge of the SIMM calculation and inputs is preferred but not essential
- Good analytical skills are essential for the role, attention to detail will also be a requirement
- Good interpersonal and relationship management skills, being able to communicate clearly and concisely.
- The candidate will be required to convey issues succinctly to front office stakeholders and to reach timely resolutions with counterparties
- Candidate should be able to organise themselves efficiently as they will need to prioritise and keep track of multiple outstanding items while working to meet daily deadlines
- Candidate should be a self-starter with the ability to work either on their own initiative as well as be a solid team player.