Trading Operations 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.
The Operations division is both the first line of defence for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back. One of the largest divisions in the firm, Operations 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, we continually strive to improve while actively supporting the development of new businesses, structures and markets.
We are now recruiting for an Associate in Credit Derivative Trade Support (CRD TSG). The Associate is a key member of the Single Name and Cleared products team and works closely with the Business Units and Infrastructure management team in realizing the Firm?s objectives.
The role requires a high level of risk management awareness and guardianship. The candidate needs to demonstrate they can take ownership of initiatives and make pragmatic and sometimes difficult decisions based on sound judgment in complex situations, which serve the best long term interests of the organization.
The candidate needs to fully understand the Business Unit requirements and objectives, provide advice / recommendations as appropriate and help drive prioritization. The individual will need to work effectively across geographical and functional boundaries, and develop strong relationships and networks across the firm. Well-tuned client skills are essential.
The Credit Derivative Trade Support Group plays a key role in front to back support of a broad range of Credit Derivative products including but not limited to Single name and Index (CDS, CMBX, ITraxx) Credit Default Swaps, Total Return Swaps, CDS Options, Index and Bespoke Tranches and Structured Notes. This group provides important controls to ensure that P&L generation and risk is accurately captured. The successful candidate will be liaising with Trading, Sales, Legal, Finance Controllers, and Operations departments so that the trade is correctly booked in the risk system. The TSG is the conduit for all post execution information flow to other operational departments. The candidate will also work with IT, projects groups and management to improve systems and processes and incorporate the latest industry initiatives and best practises. The lead will be responsible for responding to regulatory inquiries as required and attest to the completeness and accuracy of responses and submissions.
- Day to day management of risk, ensuring his group adheres to a strong discipline of immediate issue identification, resolution and escalation.
- Awareness of market-driven operational risk such as Credit Events & Succession Events
- Partnership with other process-aligned operational functions, such as drafting, confirmation and settlement teams.
- Adherence with Firmwide risk & control processes and principles;
- Partnership with the COOs and business risk organization;
- Supervision of offshore and vendor teams in their Credit Derivative activities, ensuring on-going transparency over their daily controls, escalation items; oversight of their change agenda, ensuring consistency with global infrastructure, processes and controls;
Change agent: the Run the bank team gains support from a dedicated Change the Bank team.
Highlighting the current major initiatives:
- Credit Derivative Front to Back; Trade Execution, Trade Capture, Trade Allocation, Reference Data and Operational Events
- Supporting Credit Derivative Growth within existing risk tolerances
- New Business and Markets
- Security Based Swap Dealer Regulation
- Build and maintain a strong partnership with business leads ? COO, Trading and Sales organizations, as well as Legal & Compliance;
- New business activity support: participate in the New Product Approval process across all Operations groups, ensuring adherence to diligence and formalization standards;
- Cross functional interaction on business critical initiatives.
- Financial stewardship: maintain transparency and on-going communication over financial performance Qualifications:
-Strong communication skills
-Knowledge of Credit Derivatives
-Strong Analytical and Problem Solving Skills
-3 years of experience in Fixed Income Operations
-Front to Back Fixed Income Credit Knowledge (Products, Confirmations, Lifecycle Event Processing, etc)
-Experience with Metric and Data Analysis
-Strong understanding of the Regulatory framework for Fixed Income Derivatives