Private Banking Operations - Account Services Associate - Wealth Management Operations

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 20 Oct 18

Private Banking Operations - Account Services Associate - Wealth Management Operations

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.

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.

Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our 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.

The Private Bank Operations (PBO) Change the Bank team manages cross-divisional, cross-product, and firm-wide initiatives on behalf of Private Banking Operations and the Private Banking Group within Wealth Management. The role requires the candidate to contribute to all phases of the project lifecycle (Analyze, Design, Build, Test and Implementation).

The Private Banking Operations (PBO) team provides operational processing support for banking products offered to Morgan Stanley clients. We have an immediate position for an Associate in the Wealth Management Private Banking Operations - Account Services unit, which is responsible for delivering high-level oversight over a number of programs including the WM Debit Card and American Express programs. The role requires the candidate to perform a variety of tasks aimed at insuring the product is delivered in a manner consistent with the Firm's core values: delivering first-class business in a first-class way.


Qualifications & Skills Required:

Analytical skills: The candidate must be highly analytical and will develop experience in using objective data to drive strategic recommendations by collecting, analyzing and synthesizing large data and complex data sets using commonly available tools (e.g. Excel, Access, and Business Objects).

Communications skills: The candidate must be able to concisely explain complex issues. The candidate must also possess strong written and oral communications skills

Problem solving skills: The candidate must have sound process engineering/ diagnostic skills. This includes the ability to quickly ascertain the root cause of an issue and develop precise, robust and actionable solutions.

Technical skills: The candidate must have strong understanding of MS Access, Excel, and VBA in order to assist in the design and implementation of tactical e-solutions. Although not required, the ideal candidate will also possess a basic understanding of Object-Oriented Programming as well as the ability to write custom SQL and VBA routines.

Qualifications & Skills Desired:
Applied experience of the above skills in context of a related industry
Bachelor's degree; business or economics degree preferred

Job Duties and Responsibilities:

Account Servicing , inclusive of: Updating names/addresses, Card Order return and hold file processing , Red Flag processing, Account building/updating for reject items, Card deactivation

Case Management Workflow Fees & Journals , inclusive of: Effectively responding to Case Management Workflow service requests, processing queue items and entering journals

Data Analysis and Query Building , inclusive of: Writing and executing ad-hoc queries, Compiling data for monthly management reporting, and monitoring month-over-month key metrics and performance indicators