Trading Operations Vice President - Institutional Securities Group Product Operations

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

Trading Operations Vice President - Institutional Securities Group Product 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 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.

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 (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 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.

Responsibilities:

- A Team Manager is someone responsible for managing a team or possibly multiple teams run by other Team Managers or process managed by Team Supervisors and does have direct people management responsibilities.
- Team Managers will have ownership of small teams in a different location or geography and be answerable to the manager of the location.
- Manages a group of teams, run by other Team Managers and process managed by Team Supervisors. At a more senior level will have responsibility for running smaller departments, and small regional functions.
- Thinks commercially, understands the impact of initiatives, risks on the operational budget. Actively contributes and achieves budget challenges set for team.

Risk management:

- Day to day management of risk, ensuring his group adheres to a strong discipline of immediate issue identification, resolution and escalation.
- Proactive management of market-driven operational risk: FX is a very volatile product, and can trade in significant sizes: which in case of a trade discrepancy can magnify impact of operational incidents
- Proactive management and partnership with other process-aligned operational functions, such as affirmation and settlement, settlement being a prevalent operational risk for FX products
- Ensure full coverage over and adherence with Firmwide risk & control processes and principles
- Proactive management and partnership with the COO's and business risk organization
- Supervision of offshore and vendor teams in their FX 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 CTB team. Highlighting the major ones:
- Brexit and MIFID2, which will have major impacts on the booking models, and the control framework
- On-going UMR roll-out
- Enhancement of front end, electronic execution controls

Business management

- 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 NPA process across all Operations groups, ensuring adherence to diligence and formalization standards;
- Cross functional interaction on business critical initiatives, which in the case of FX includes a close partnership with Finance;
- Financial stewardship: maintain transparency and on-going communication over financial performance;

Industry coverage: Ensure presence and active participation to critical industry forums; share information within the Trading Operations function, but also across the wider Operations world where relevant;

Run the Bank

- Act as the point person for the desk to ensure that their queries are resolved quickly and accurately.
- Managing a team, looking after Trade Capture, Trade Affirmation and Allocation, Confirmations, Reconciliations, Resolution of breaks on FO/ BO recs, New Product Approval process, Life Cycle Trade Event Management, Provide intra-day support to Sales, House Clearing, compression and optimization initiatives
- Manage and drive process improvement projects disseminated to the team, such as automating manual processes, streamlining existing processes, reducing CnC stats and tighten risk control measures
- Ensure there is a constant cooperative partnership with internal teams, many of which are located in different regions around the world

Qualifications:

Skills that You Bring
- 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.