Operations Tax Compliance Legal Entity Management Director - Wealth Management Operations

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 15 Dec 18

Operations Tax Compliance Legal Entity Management Director - 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.

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
Morgan Stanley Tax and Client Reporting Operations (TCRO) is a cross-divisional operational utility that supports Wealth Management as well as Institutional lines of business. Operations Tax Compliance (OTC), a division of TCRO, is responsible for ensuring compliance with IRS & State Regulations related to US tax withholding, reporting, and filing obligations across Morgan Stanley's Retail and Institutional-based clients and legal entities. OTC works closely with senior Business Unit representatives and Financial Advisors, providing an in-depth client service role to ensure that all tax-related inquiries are addressed on a timely basis. OTC is also responsible for managing the firm's global FATCA, Qualified Intermediary (QI) and Qualified Derivatives Dealer (QDD) Compliance Program.

Background on the Position
OTC is seeking an individual to assist and support the firm's global Legal Entity Management function. Responsibilities include monitoring and maintaining Morgan Stanley legal entity information relevant to the information reporting and withholding regime under IRS chapters 3 (non-resident alien withholding and reporting), 4 (FATCA), and 61(domestic reporting) as well as legal entity management requirements under the Qualified Intermediary (QI) agreement. The successful candidate will have a strong risk, regulatory and compliance mindset as well as experience with legal entity management. The candidate must demonstrate the ability to learn and understand tax regulations and facilitate the necessary operational processes and governance in order to ensure compliance. The successful candidate will have the ability to operate across a number of functional areas at the firm, including operations, technology, risk, and tax.

Primary Responsibilities
-Supports and refines our legal entity tax form distribution and tracking process (Forms W-8, W-9, Self-Certification, etc.)
-Monitors, updates, and enhances the existing legal entity management function to ensure it runs efficiently and in compliance with relevant regulations (existing and new), including the maintenance of desktop procedures
-Identifies gaps and risks with current operating procedures, processes, and controls
-Develops and gathers metrics for senior managers within TCRO
-Organizes periodic internal reviews of compliance with regulatory requirements
-Monitors and maintains Morgan Stanley's legal entity list, including its FFI and QI list

Specific Functions
-MS legal entity tax form creation and dissemination
-Monitor for new MS legal entity creation and changes to existing MS entities
-Perform FATCA FFI review/reconciliation
-Perform MS QI/QDD legal entity review
-Register or deregister MS legal entities in the IRS FATCA/QI portal
-Respond to requests for MS legal entity address/name changes in the IRS FATCA/QI portal
-Perform the triennial MS legal entity renewals for certain MS legal entities in the IRS portal
-Gather MS legal entity information to classify for FATCA purposes
-Reconcile MS legal entities for IGA Reporting


Skills required (essential)
-Bachelor's degree
-Experience in legal entity management experience in the financial services industry
-Experience with regulatory reporting, registration and monitoring
-Operations/controllers experience preferred
-Critical attention to detail and meeting deadlines
-Excellent verbal and written communication skills
-Good analytical and problem solving skills
-Ability to conduct themselves effectively with senior management
-Advanced MS Office skills, including MS PowerPoint
-Tax knowledge a plus