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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
One of the largest divisions in the Firm, Operations is the first line of defence for Morgan Stanley's financial and reputational well-being and essential in delivering value to our clients. 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 world-class team of innovative and dedicated professionals, with a unique vantage point in the Firm interacting with all parts of the business, front to back. The Operations Senior Management team are passionate about our people development and providing best in class employee opportunities through an inclusive, forward-looking environment defined by open communication, collaboration, learning, and proactive career management
Shared Service and Banking Operations (SSBO)
Shared Service and Banking Operations delivers industry leading operational solutions by aligning the right functions, people, processes and tools into ten core disciplines offering tailored client service levels that are efficient, controlled and compliant with regulation. Our core disciplines include: Asset Servicing, Cash Management, Client Data Management, Global Banking Services, Loans Servicing, Network Management, Payments (Wireless and Disbursements), Reconciliations, Settlements and Tax Operations.
Client Regulatory Services (CRS) Profile:
Client Regulatory Services (CRS) is an Operations group within Shared Services and Banking Operations (SSBO) that is responsible for adherence to client regulatory requirements during the life of the client's relationship with Morgan Stanley. This includes Anti-Money Laundering (AML) Client Reference Screening, Know Your Client (KYC), and other non-AML/KYC regulations such as MIFID, QIB, QFC, Dodd Frank, EMIR, HKPI, etc.
The team is comprised of regulatory SMEs that provide support and regulatory control to global Business Units and stakeholders. The teams work on cross-functional projects in support of changed or new regulations, processes and controls that have an impact across the Firm coordinating with Legal, Compliance, Central Change and Technology.
There are three Operational teams:
- NCNB: The New Client New Business team is responsible for maintaining, reviewing, processing, and reporting on both AML and Non-AML regulatory programs; ensuring the data and documentation required is collected for new clients or existing clients extending their business relationship with Morgan into new products/jurisdictions.
- Regulatory Refresh: The Regulatory Refresh team is responsible for completing the AML/KYC Periodic Reviews of our clients based on their jurisdictions and AML Risk to the firm. The KYC Services team is part of Regulatory refresh and is responsible for Client, Sales and NMR engagement; thereby assisting in effective completion of data & document refresh.
- Client Screening Services: The Screening team performs Initial (Level 1) review & disposition of screening alerts across Sanctions, Negative News, PEP and Client Settlement Instructions. For high risk clients, the team completes Extended Due Diligence (EDD) public source reviews for new onboarding and refresh.
And supporting teams:
- Controls and Quality: The Controls and Quality team works closely with CRS functions, Internal Risk, Audits, and Testing teams to implement a standardized approach towards the control agenda including operational procedures, RCSA, risk incident management, audits and testing issues and resolutions. The team is also responsible for performing process quality checks of completed CRS processes as an important part of the CRS Quality Assurance framework.
- RIOA: The Regulatory Interpretation and Operational Advisory team works closely with Global Financial Crimes and Legal and Compliance to operationalize policy to ensure the team fulfills regulatory requirements. They are the first point of escalation for CRS on policy related questions in all regions.
- CTB: The Change the Bank team works closely with Technology to implement new regulatory programs and system enhancements to improve our quality and streamline our workflows.
- CRS have a global footprint with offices in Hong Kong, Bangalore, Tokyo, London, Baltimore and New York.
Our mission is to serve our clients by delivering effective and efficient regulatory services at a high level of quality and control, while striving for continuous innovative improvements that will reduce the Firm's total operating expenses.
This role will sit within the New Client New Business team supporting either KYC or non-KYC functions depending on the business need:
- Support and supervise the activities of the team pertaining to European regulations such as SFTR, EMIR, MiFID II and UMR.
- Support and supervise the activities of the team pertaining to client identification (CIP), know your client (KYC) and regulatory adherence checks for new client onboarding and/or periodic review.
- Manage implementation of upcoming regulations, changes to existing regulations, build tactical and strategic controls.
- Manage BAU controls for regulatory onboarding, mandatory clearing, venue execution, adherence checks for new and existing clients, and associated remediation exercises.
- Track and manage interdependencies, critical path and risk status.
- Respond to queries on CRS regulations and client reference data from Global Client Onboarding, BU, Operations, Risk and Compliance.
- Handle volume spikes and prioritise work including ad-hoc requests and projects to meet business demands in a timely manner.
- Escalate issues in a timely manner to the regional manager.
- Provide regular status updates and metrics to managers.
- Develop SME knowledge on regulations covered by CRS and work to improve controls and quality in processes and systems.
- Deliver quality results in a timely manner and within required deadlines.
- Establish good working relationships with regional teams and internal stakeholders across various jurisdictions.
- Strong subject knowledge at least one of the following: MiFID II, KYC/CIP, EMIR, UMR, SFTR, Dodd-Frank, or other global regulatory regimes.
- Knowledge and understanding of the various financial products offered across an investment bank.
- Attention to detail and research/investigative skills.
- Sound risk and control mindset, excellent judgement and ability to prioritise.
- Ability to self-drive projects and deliverables owned by other teams.
- Work independently and meet business deadlines with accuracy.
- Problem solving skills to mitigate risks associated with the business.
- Strong communication and interpersonal skills and ability to seamlessly interact with the Business units, Compliance and other key stakeholders.
- Ability to multi-task to handle various business requests and prioritise time accordingly.
- Ability to quickly digest new information and learn new businesses and processes.
- Ability to effectively manage pressure and stressful business demands.
- Exceptional organizational skills.
- Adaptability to the changing environment.
- Relevant work experience in the financial industry or equivalent background.
What we offer
- International environment and future career opportunities within our division.
- Significant role in defining process quality metrics and outputs.
- Possibility to learn about the financial markets and global regulations.
- Participation in major, global projects related to regulatory changes which have been re-shaping the financial industry.
- Welcoming and inclusive environment, strong corporate values and work ethics.
- Extensive training offerings.
- Active social life, the possibility to join diverse employee networks.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.