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Morgan Stanley Private Wealth Management provides highly customized financial advice, investment solutions and brokerage services to ultra-high net worth individuals. Individuals, families and foundations. As Morgan Stanley’s premier service for individuals and families with significant means, We specialize in providing our clients with custom-tailored financial solutions and a level of sophistication and access to expertise and investments typically reserved for large corporations, financial institutions and governments.
The Business Manager is responsible for a wide variety of functions including people management, business supervision and growth facilitation for Morgan Stanley Private Wealth Management. The Business Manager also has accountability for maintaining a control environment through adherence of business ethics and practices and adherence to all applicable laws, Morgan Stanley policies, and other regulations.
Duties & Responsibilities People
- Manage Client Service Representatives (“CSR”) to provide first class experience for our Clients.
- Build trust and rapport with CSR, provide ongoing engagement, motivation, performance evaluation, coaching and on-the-job training to support staff development and career growth.
- Act as the first point-of-contact for issues handling, advice and inquiries from CSR.
- Drive effective collaboration and develop strong working relationships with all Business Support Teams and Partners. Supervision
- Liaise with Business Unit Risk Management “BURM” and Legal & Compliance Division “LCD” to ensure the Bank is strictly adhered to all internal policies & procedure (“P&P”) and supervise the day-to-day activities of the Sales team to promote a strong culture of risk awareness.
- Continue to seek improvement through issue resolution and consolidate feedback from the Sales Team to enhance existing process/platform, identify key risk areas and adopt action plans of our control process.
- Assist in the development, implementation and ongoing maintenance/update of supervisory framework.
- Draft, review, maintain and update P&P, communicate updates on new or improved workflows/procedures, provide training and guidance to the Sales Team.
- Engage with BURM, LCD and the Sales team in internal/external audits and regulatory inspection, Compliance testing assignments and also Risk and Control Self-Assessments.
- Handle customer complaints and errors, and provide resolution/recommendation to ensure appropriate supervisory oversight is maintained.
- Identify and troubleshoot complicated issues relating to trade execution, booking, and settlement & funding to reduce operational risk and prevent loss. Growth
- Support the Sales Manager and Branch Manager on growth and control initiatives (e.g. strategic planning exercises and regulatory reviews) to improve branch efficiency, reduce operational errors, create a proper control framework within the branch system and assist in optimizing revenue opportunities where possible.
- Drive , facilitate and participate in regional projects (e.g. support new product approvals, rollout of new application, enhancements) impacting the Sales team to ensure a profitable business framework with strong internal control standards.
- Track KPIs and prepare monthly reports/presentations for senior management including key benefits and impact of all the business management initiatives (e.g. account opening support, trade execution support, complex transaction facilitation). Qualifications: Qualifications / Requirements
Education and/or Experience Qualification
- Knowledge of investment products, industry regulations and best practices
- Knowledge of client investment suitability requirements
- Ability to identify and resolve issues and escalate as necessary
- Demonstrate effective presentation, writing and analytical skills
- Exceptional interpersonal, organizational, negotiation and conflict resolution skills
- Ability to multi-task and operate in a dynamic environment
- Effective written and verbal communication skills in English and Cantonese/Mandarin
Licenses and Registrations (definite advantage)
- Bachelor’s degree required
- Minimum 6-8 years' solid experience within Financial Services Industry, relevant experience gained from Wealth Management/Private Banking is highly preferred
- Prior experience or exposure to business management or project management is a definite advantage
- Experience in working directly with Senior Stakeholders, risk professionals and regulators is a plus.
- HKMA License - Type 1 & Type 2