Hong Kong PWM Operations Regulatory Report and Call Back Verification, Director/Team Lead
Operations
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.
Asia Wealth Management Operations
Asia Wealth Management Operations (AWM OPS) partners closely with AWM business unit to process daily activities, develop and implement new products and services, as well as drive efficiency and reduce risk in our processes.
Team Profile
The AWM Operations Regulatory Reporting & Call Back Verification team, part of AWM Ops, is a 6 person highly visible, front-line Operations team responsible for two distinct functions: regulatory report submission and call back verification for cash and security transfer. This role is for the team leader position at Director/AVP level, who reports into the team manager.
Regulatory Reporting: The team is to produce 17+ types of highly complex regulatory report submissions to regulators located in Hong Kong, Singapore, and USA. Critical thinking, attention to detail, and problem solving is therefore critical in this role. The team will also product various internal management reports.
Call Back Verification (CBV): The team plays an integral role safeguarding client interest against fraud risk. The CBV function has direct client interaction hence professional language proficiency in all three languages English, Mandarin, and Cantonese is an absolute must.
The team members support these two functions across any given day.
Role Description & Responsibilities
This role is responsible for supervising call back verification, producing and overseeing regulatory reports and management reports. Responsibilities include, but are not limited to:
- Supervise daily call back verification to ensure fraud risk is mitigated and all
- Escalate any failed call back verification or any red flags to managers, Business Risk and Anti-Fraud Operations
- Produce regulatory and management reports in a timely & accurate manner
- Liaise with other stakeholders (Finance/Compliance/AWM business unit/Technology) when a new regulatory report is identified, or changes are required
- Working with Technology/Project team and other stakeholders to automate regulatory reports
- Periodic review on our existing regulatory report process/documentation so they meet the highest standard
- Identify system gaps and work with team and IT on enhancements and testing
- Ensure compliance with risk policies, operation best practice and compliance interpretation
- Actively supporting manager on regulatory reports/control framework new initiatives including various audits and external regulatory queries
- Escalate any potential regulatory impact incidents to senior management immediately
- Develop strong relationships with stakeholders to design, develop and implement technology platforms to deliver solutions to these business requirements
- Participate and lead appropriate forums (such as working groups) to facilitate requirements gathering, provide status updates and manage/resolve issues
Skillset Required
- Strong desire and passion to build a long term career with Morgan Stanley Operations
- Cantonese, Mandarin, and English professional language requirement is an absolute must
- Considering the regulatory impact of the rule, attention to detail, accuracy, following procedures and execution quality is paramount
- Ability to work under time pressure with conflicting deadlines; hence ability to prioritize is key
- Ability to combine clear and appropriate escalation with suggestion on risk mitigation
- Strong ability to communicate well and interact with others at all corporate levels
- Actively look for new opportunities for process improvement and enhancing risk frameworks
- Ability to 'connect the dots' of the long term impact of regulatory environment due to market changes on the business
- Ability to make plans where appropriate to adapt control processes and procedures
- Knowledge on financial products such as cash products (bonds, equities), OTC derivatives, Mutual Funds, Hedge Funds & other alternative asset classes
- Time management and ability and dedication to meet tight deadlines
- Code writing skills in Excel & VBA Macro is an advantage
- Responsible for development of the staff in Hong Kong, including setting challenging targets to foster personal development
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