OTC Collateral Management - Associate
- London, England, United Kingdom
- Permanent, Full time
- Morgan Stanley
- 18 Apr 19
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 747 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.
One of the largest divisions in the Firm, Operations is the first line of defence for Morgan Stanley's financial and reputational well-being and essential in delivering value. Operations is responsible for correctly settling and recording millions of transactions per day, identifying and mitigating operational risk, developing strong client relationships and partnering with technology to realize the full potential of IT and Automation. Operations has a premier team of creative and dedicated professionals, with a unique vantage point interacting with all parts of the business. The Operations Senior Management team is passionate about our people development and providing top-notch employee opportunities through an inclusive, forward-looking environment defined by open communication, collaboration, learning and dedicated career management.
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 associate 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 process.
The individual will be responsible for the management of disputes with Institutional and Hedge Fund counterparties under the provisions of ISDA Credit Support documentation. The products supported are very broad, encompassing Fixed Income and Equity derivatives, with some Repo and Commodities derivatives as well. The candidate will support disputes both on Variation Margin and Regulatory Initial Margin required under Uncleared Margin Rules (UMR)
Responsibilities of the role include:
- 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.
- Strong team working skills with supervisory and line trade processing experience.
- 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.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize 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 dedication to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.
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.