Listed Derivatives - Associate

  • Competitive
  • Glasgow, Scotland, United Kingdom
  • Permanent, Full time
  • Morgan Stanley
  • 19 Oct 18

See job description for details

Company Profile:

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.

Glasgow Profile:

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

Department Profile:

The Operations division is both the first line of defence for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back. One of the largest divisions in the firm, Operations has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, we continually strive to improve while actively supporting the development of new businesses, structures and markets.

Team Profile:

ISG Product Operations encompasses two functionally aligned organisations. The first, Trading & Client Operations, provides Operations functions in direct support of activity executed by Institutional Sales & Trading. The second, Clearing Operations, provides Operations functions in direct support for activity cleared by Morgan Stanley on behalf of our clients in Prime Brokerage, Listed Derivatives, and OTC Derivatives. The broad organisation partners closely with Sales and Trading to develop and implement new products and services as well as drive efficiency and reduce risk in our processes. At all times we are focused on delivering quality service to clients both internal and external. ISG Product Operations partners closely with Shared Services and Banking Operations as well as Branch Operations and Operations Risk & Control to deliver a connected 'front to back' view of operations to ISG Sales and Trading.

Glasgow Clearing Operations is part of a Global team that supports clients and firm on OTC and Listed Derivative Products, managing their portfolios, collateral, cash, reporting and exchange cleared trades. Our business offering spans across multiple clearing houses (LCH, ICE, CME, Eurex etc) and across multiple asset classes.

Primary Responsibilities:

The Listed Derivatives Control Function incorporates several teams looking after the end to end process for Listed and OTC Clearing, including Margin & Collateral and Client Money controls.

The Associate role will have responsibilities spanning across these Glasgow teams, and delivery and support of key projects will also be a critical part of the role. Clearing Operations for Listed Derivatives and is a large high risk function which consists of 70 members of staff, comprising specialist areas:

Focus Client & Derivative Clearing Supervision - Responsible for the on-boarding of new clients and providing a bespoke service to our most valued and sensitive clients.

Trade Support - responsible for the supervision of all cleared derivatives including, but not limited to, Equities, Bonds & Commodities within the EMEA region. In addition there is a client service element to this role, facing off directly to clients and middle office providers.

Client Collateral - Management and payment of all EMEA collateral calls received from multiple exchanges throughout the day, and maintaining strict control of all account usage and reconciliation. Daily statement management and collateral collection from corporate Clients.

Expiry & Regulatory Reporting - manages the expiring process of listed options and futures by booking resulting physical and cash movements while ensuring internal and external positions are in line.

Client Money and Control - Ensuring that the daily Normal Approach Client Money calculation is carried out accurately and in accordance with FRA regulations, in a timely manner.

The role is a challenging and rewarding one, providing opportunities to understand new businesses and processes whilst driving continual risk control improvement and strict adherence to regulatory compliance.


Skills Required:

- The role requires clear and effective communication, interpersonal skills and analysis. Some business knowledge of Listed Derivatives financial products is preferable, but is not a pre requisite, however good communication skills, analysis skills and time management are essential
- The successful candidate will be well organized personally and need to be able to interact with people at all levels within the organization
- Good communication is essential due to the nature of the role. This means clearly communicating what is needed, when answers are required, understanding the answers provided and being able to communicate the information effectively when an issue needs to be escalated, at all levels
- The role is primarily one of controlling risk, therefore experience in managing high levels of risk and a keen attention to detail is required
- The successful candidate will be a team player who works well face to face and remotely. The sharing of information is key to the success of the team
- Quick learner and desire to develop in the specialized role
- Accuracy and attention to detail is paramount along with diligence, excellent prioritization, and quick escalation.
- Good IT skills and proficiency with Microsoft Office applications. Excel skills are a particular advantage.
- In addition, the successful candidate will be expected to manage and take ownership for issues effectively and this will involve influencing skills to ensure issues are resolved effectively and at the right level
- Experience of dealing with regulatory issues, and in particular the CASS rules, is strongly preferred

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-AM1