Legal Entity Controller - Manager
- Glasgow, Scotland, United Kingdom Glasgow Scotland GB
- Permanent, Full time
- Morgan Stanley
- 26 Apr 18 2018-04-26
See job description for details
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.
Morgan Stanley’s Glasgow office employs in excess of 1,300 staff across Operations, Technology, Legal and Compliance, Internal Audit, Fund Services and Finance. Due to our growing business, we have a demand for career minded people to join our teams. Our opportunities offer unrivalled scope for progression and training within a fast paced, meritocratic and constantly changing environment. Morgan Stanley pride themselves on maintaining a culture which champions diversity, an inclusive environment for all, recognition and an opportunity to give back to our communities through various local charity partnerships. The office is located centrally and enjoys the additional benefits of an onsite gym and restaurant.
The Finance Division globally reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firm’s books and records, and by contributing to firm wide risk management and risk reduction. This division maintains relationships with Morgan Stanley’s various industry and government regulators, and also serves as the conduit of financial information to the outside investment community. Finance plays a critical role as advisor to Morgan Stanley’s various businesses and its senior management team.
The Glasgow Finance team is over 220 strong and spans a wide range of functions including: Product Control; Market Risk Control; Liquidity Control; Treasury Currency Management; Compensation Control; Tax; Legal Entity Control and Governance; Accounting Advisory Services; General Ledger Governance; Regulatory Reporting and Finance Risk. The variety and scope of our opportunities across all levels allows our employees to enjoy fulfilling and challenging long-term careers. In order to maintain this we require finance professionals of all levels, both qualified and non-qualified, who are committed to working in a challenging and ever evolving industry. For non-qualified candidates we actively support a number of professional qualifications.
The Legal Entity Control Group is responsible for the financial management and control of the Firm’s legal entities. We are a well-established team in Glasgow that currently manages over 500 London and New York based entities. This team is responsible for preparing audited and unaudited statutory financial statements; management accounts; US Federal Reserve entity level reporting; and other reporting for senior management when requested. We are also responsible for ensuring that standard monthly and quarterly financial reporting controls and validations operate correctly.
We are hiring a Manager in our Glasgow office. This role will be part of a team of Legal Entity Controllers and have responsibility for the financial management of selected entities, reporting locally to a Glasgow based LEO. The focus of this role will be across a wide range of entities including some in the Commodities, Fixed Income and PWM divisions. The candidate will be required to work to help support our business unit colleagues in other Firm offices in EMEA and America.
Overseeing the presentation of timely, relevant and value added information on entities to senior management, including:
- Review of statutory financial statements
- Review of management accounts and variance analysis
- Validation of US Federal Reserve entity level reporting
- Oversight of monthly reconciliation of accounts and balances
- Co-ordination of all legal entity activity, with key internal experts such as tax, legal etc
- Co-ordination of relevant closure activity on entities under remit
- Implementation of various monthly, quarterly & annual processes for entities managed in Glasgow
- Responsible for maintaining key stakeholder relationships both internally and externally including: external auditors, Product Control, Company Secretarial and Tax
- Management and development of one member of staff
The role will also require participation in the development of the LEC function in Glasgow, involving:
- Re-engineering and standardisation of processes in order to provide the Glasgow team with some centralized support functions
- Supporting the Business Units in the set-up, opening & closing of entities and adapting the entity’s ledgers and system requirements
- Ongoing entity-specific initiatives and projects
- Contributing to the reporting control framework, ensuring compliance to client requirements and internal policy
- Keen and motivated to work hard and achieve
- Shows a willingness to learn from others and increase own knowledge base
- Takes responsibility for own tasks and proactively looks for opportunities to increase responsibility
Problem Solving & Judgment:
- Shows the ability to identify and analyse the situation through gathering relevant information to understand the root cause
- Determines the potential impact and implications of issues and takes appropriate action to avoid future recurrences
- Knows when it is appropriate to resolve matters and offer solutions themselves and when it is critical to escalate to others
- Able to explain issues and ideas succinctly, using appropriate mediums and language, to ensure others understand
- Always ensures that the relevant people are kept informed
Building & Maintaining Relationships:
- Awareness of other people and environment and own impact on these
- Responds appropriately to others to build and maintain an effective network of contacts
- Goes extra mile to ensure needs of others are addressed to highest possible standard
Commitment to Excellence:
- Consistently shows concern for all areas no matter how small
- Ensures tasks are always completed accurately, without exception
- Checks, verifies and reconciles information to ensure no mistakes are made and work is completed to the highest possible standard
Planning & Organising:
- Able to quickly and accurately establish priorities
- Plans own and others’ time to meet tight deadlines and is flexible when priorities change
- Candidates for the role should hold an Accounting /Finance/Mathematical degree or equivalent, and have an understanding of the balance sheet
- Candidates should possess excellent Microsoft Excel skills and be proficient in data mining and summarising and presenting themes and results in a meaningful format
- Knowledge of financial products which are used in the financial services industry, such as securities lending and repos, and an awareness of the issues would be preferred
- Experience in managing direct reports
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. *LI-EM3