Client Onboarding Regulatory Services - New Client New Business Associate
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
Operations 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. Background on the Team
Client Operation Regulatory Services (CORS) is part of Institutional Securities Group Product Operations (ISGPO) and is responsible for obtaining and verifying data and documents to satisfy regulatory requirements such as for Know Your Customer (KYC) as part of the firm?s Anti-Money Laundering program. As a key component of the client onboarding process, CRS partners closely with Global Financial Crimes, Risk Management, Operations, and other groups to help the Firm's business units comply with Client Identification Procedures (CIP) and certain other regulations that involve data and/or documentation requirements. Background on the Position
The successful candidate must promote excellence; diversity, quality, respect, inclusivity and drive their own self development. The individual will be a pro-active person with a strong desire to succeed. Effective communication skills are a key part of this role as it requires building and maintaining strong working relationships, with all stakeholders, in a challenging environment. Core Responsibilities
-Face-off with key stakeholders in the onboarding process, including Business Units, Compliance, Risk, etc. to manage day-to-day Run-The-Bank (RTB) functions of CORS including regulatory & product documentation for client on-boarding, data management, and process quality management.
-Independently manage requests as coverage to the respective business units, building relationships to better understand our clients and their business
-Review and respond appropriately to exception reports and management reports designed to help manage risk (regulatory risk, operational risk, etc), workload, and performance of staff. Improve quality and effectiveness of these reports and coordinate with others to establish new reports where needed.
-Ensure high process quality scores and address issues identified in PQ checks
-Perform user acceptance testing for enhancements to technology-based processes, controls, and applications.
-Create, improve and maintain written procedures.
-Escalate issues as per procedures while owning the resolution keeping management in the loop on progress Qualifications: Skills required (essential)
-Familiarity with KYC and AML Compliance policies and how they are applied in a U.S. banking environment
-Knowledge and understanding of the various financial products offered across business lines.
-Excellent analytical and problem solving skills. Includes problem structuring, analysis, and ability to translate issues into actionable items and recommendations.
-Solid judgment to know when to escalate issues and take charge when needed to prevent or minimize the impact of issues.
-Ability to multi-task and prioritize tasks according to criticality.
-Ability to think strategically and provide insight into how to improve existing business and technology processes.