Commodities Confirmations Drafting Team, Vice President - Institutional Securities Group Product Operations

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 24 Mar 19

Commodities Confirmations Drafting Team, Vice President - Institutional Securities Group Product 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 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.

Operations

One of the largest divisions in the Firm, Operations is the first line of defense 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.

Institutional Securities Group Product Operations

Institutional Securities Group Product Operations (ISGPO) partners closely with Sales & Trading and our Clients to process daily activities, develop and implement new products and services, as well as drive efficiency and reduce risk in our processes.

Trading Operations

Trading Operations is a key partner to the Firm's institutional trading business globally providing trade and post trade support covering Fixed Income (Rates, Credit, Cash, FX, Commodities, SPG & DSP) and Equities (Equity Cash, DSP, Equity OTC, Fund Derivatives & MSET) products. Playing a meaningful role in trade verification, new product approval, reconciliation of the Firm's books & records and supporting regulatory obligations, the department offers interesting opportunities for a talented team.

Role Description & Responsibilities

The Vice President, Global Drafting Head of Commodities Confirmations is a senior Team Manager role and part of the management team of the Derivative Post Trade Operations group (cross asset class derivative confirmations team), sitting within Trading Operations. The role is responsible for the direct management of the North America commodities confirmations drafting team in New York and the supervisory oversight of the commodity drafting process globally.

Responsibilities include daily oversight of line staff across regions, supervision of the critical tasks including close monitoring of unsent confirmations, proactive involvement managing accuracy and timeliness metrics for issuance. The role involves direct supervision of physical products, exotic option/swap, index and investor businesses globally. The individual will oversee manual confirmation generation for these products working closely with the Business Unit, Controllers, Legal and Compliance. They will be the senior SME and escalation point for the Business Unit with regard to operational risk management of the confirmations workflow. They will be a senior contact for other functional teams such as Trade Support and Audit. The global head is the primary senior representative involved with implementing change the bank (CTB) enhancements and will work closely with projects reps and IT. The individual will also serve as a backup to the North America Equities Drafting heads.

Responsibilities

Process oversight

- Process oversight though KRI and KPI management
- CTB Management and risk based decision making
- Proactively explore tactical and strategic solutions to identified and close control gaps
- Supervisory role including sign offs, risk management, process review and audit checks.
- New Product Approval process support and primary senior contact for the Commodities Business Unit with regard to Confirmations
- Vendor oversight

Team Management

- Create a culture of continued process improvement, innovation and strategy
- Establish regular team meetings, huddles
- Ensure Daily Tasks are completed, leveraging management tools
- Management of Team Depth Charts
- Run and analyze capacity utilization metrics Input for responsible functions
- Business Continuity Planning for responsible functions
- Maintenance of SOP's

Staff Oversight

- Establish 1-1 meetings
- Yearly talent and goal management, staff reviews, performance management
- Career Development Conversations

Change the Bank Initiatives

- Proactively be involved with leading technology projects
- Understand and argue for resolution of processing bottlenecks
- Create IT change requirement documents (BRD input / review)
- Take part in cross asset prioritization
- UAT coordination

Qualifications:

- You have prior experience leading a global Confirmation team at the officer level
- You possess strong technical knowledge of both commodity derivative and physical products and experience working with industry forums
- You have prior experience implementing Change The Bank initiatives
- You anticipate problems/obstacles and understand the ramifications to business. You offer workable commercial solutions.
- You skillfully identify problems, build solutions and apply lessons.
- In challenging situations you can make timely, sound and commercially focused decisions balancing risk, opportunity and cost.
- You have the confidence to make tough decisions without 100% certainty - form own independent assessment and fairly consider other's opinions.
- You challenge assumptions and actively look for ways to enhance and develop processes and procedures, creating a dynamic risk management culture.
- You mobilize cross functional teams to resolve issues using both tactical and strategic solutions.
- You actively leverage networks and use initiative to expand own and others understanding of front to back business process and technology.
- You consistently exceed expectations and respond positively to changing circumstances.
- You actively take the lead to ensure actions and discussion moves forward.
- You understand when to be a leader and when to be a participant depending on what is needed to achieve the team's goals and objectives.
- You challenge the conventional view constructively and respectfully; present ideas persuasively to influence others.

Licenses

- Series 99 License Required