Asset Servicing - Project Specialist - Wealth Management Operations

  • Competitive
  • Baltimore, MD, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 19 May 19

Asset Servicing - Project Specialist - Wealth Management Operations

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.

Division and Department Profiles
The Global Operations Division is one of the largest divisions in the firm and 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, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our wealth management services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.

Wealth Management Operations rolls up into the Global Operations Division and provides brokerage, investment and financial services support and control for hundreds of thousands of individual investors, across millions of accounts. We apply our expertise in serving clients to create new opportunities for people to achieve their personal financial goals.

Capital Markets & Core Processing Services (CMCP) is part of the Wealth Management Operations organization and provides operational support and control to the Capital Markets business within Morgan Stanley Wealth Management. CMCP consists of typical securities operations functions (middle office, trade support, client service, settlements, securities lending, regulatory support and asset servicing).

Role Description
Our recruiting need is in the Asset Servicing team within the Capital Markets & Core Processing Services (CMCP) organization. The Asset Servicing team provides the full suite of asset servicing support for the entire US Wealth Management platform. This includes all equity and fixed income products that require the processing and control of dividend events, DRIPs, interest payments, maturities, redemptions, mandatory corporate actions, voluntary offers, etc.

The candidate will lead change, projects, strategy and renovations from within the Asset Servicing change-the-bank (CTB) space. This role will be complimentary to the run-the-bank (RTB) processes and resources. This candidate will lead numerous CTB change/strategy projects, while at the same time partnering with the RTB manager on the RTB initiatives.

- The candidate will coordinate the prioritization and execution of a department-wide change book of work and act as the change-agent challenging all existing processes.

- The change agenda for the Asset Servicing team is large, complex and multi-year. It includes numerous major technology renovation streams, formal change-the-bank (CTB) programs, significant operational process redesign, service model changes, team restructurings and location footprint changes. This is a terrific opportunity for a change-agent to design and implement a change governance program (i.e. centralizing all requirements, engaging stakeholders on prioritization decisions, resource assignment, scheduling and sequencing of implementations, project issue and risk resolution, etc.). Once the change governance program is implemented, we will ask this change manager to own and run the change governance program (the AS Ops and Tech teams are in the process of migrating onto an agile development process, thus the change governance will be designed around agile methodologies and tools).

- As the teams spend the next 2-3 years migrating onto a new strategic technology platform, we will ask our change agent to spend a large portion of his/her time partnering with the RTB managers and teams to challenge and redesign all processes and controls. The team and business cannot afford to spend multiple years renovating the technology platform to then simply transfer historic processes onto a new technology platform.


Qualifications & Skills
- Bachelor's degree required.
- Financial operations experience is a must (6+ years would be ideal).
- Ideal candidate will have spent several years in an asset servicing RTB team performing asset servicing functions (familiar with asset servicing operations, controls and technologies).
- Proven ability to operate independently.
- Candidate will need to be well networked with other financial firms and vendors (i.e. best practices, industry standards, etc.).

Project management experience required:
- The ideal candidate will have acted as a subject matter expert on project teams and also have lead project teams.
- The candidate must have proven ability to create comprehensive project and implementation plans.
- Must have examples of partnering with all levels of management and stakeholders to gain consensus on project deliverables.
- Must be experienced with managing multiple projects and engagements simultaneously.
- Proven success in leading sizeable projects that impact multiple operational teams and span across numerous months.
Business analysis:
- The candidate must be highly analytical with experience in designing and improving complex operational processes (6 sigma type of training would be helpful).
- Experienced with process modeling and process design software (i.e. Visio).
- The ideal candidate will have displayed the ability to understand and concisely explain complex issues, strategies and processes, such that stakeholders up and down the seniority chain are able to understand issues and proposals.