Securities Lending Associate

  • Competitive
  • Glasgow, Scotland, United Kingdom
  • Permanent, Full time
  • Morgan Stanley
  • 16 Jan 19

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:

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.

Team Profile:

Securities Lending describes the practice whereby securities are transferred temporarily from one party (lender) to another (borrower) for a fee. The borrower is required to return them either on demand or at the end of any agreement. The borrower will provide the lender with collateral for the period of the loan.

The motivations to participate in Stock Lending include:

- To cover strategically traded short-positions
- To cover deliveries which arise as a consequence of failed settlement
- Transfer ownership of securities temporarily that will benefit both the borrower and lender

Lender Services Operations - Stock Lending - Europe

The Securities Lending Operational department based in Glasgow is responsible for supporting the trading activities of the business and currently there are over 30 employees. The department comprises of Lender Services and Middle Office.

Primary Responsibilities:

Act as a key support for Morgan Stanley's Bank Resource Management (BRM) Desk performing trade maintenance and daily book balancing to facilitate the timely settlement of securities borrowed and loaned as well as the accuracy of the Firm's books and records.

This involves interacting daily with the International and Domestic Securities Lending trading desks as well as liaising with internal clients such as the Global Lender Services team, Position Services and Global Settlement teams. The actions of the Stock Loan Middle Office team have direct impact on the Firm as failure to carry out timely amendments and balancing can result in Financial and Franchise risk for the Firm.

- Serve as the primary point of contact to Bank Resource Management (BRM), Borrowers and Lenders (clients) of BRM. This includes working with other key stakeholders within the firm who also have contact with the clients and acting as a point of escalation for any issues
- Mitigate exposure risk through effective exposure management processes and controls through working in partnership with key stakeholders including Credit and Counterparty Risk
- Perform the Trade and Fails Management functions including trade pre-matching, matching and trade management to assist clients in managing inventory effectively and BRM with managing costs and utilised assets
- Perform daily cash and stock reconciliation ensuring Morgan Stanley’s books and records match external positions


Skills Required:

The successful candidate will be able to demonstrate:

- A good aptitude for working in a demanding, fast paced environment
- An ability to handle high volume workloads and prioritisation skills
- A flair for learning new functions/systems quickly
- A good approach to change management on account of the team’s continual growth and development
- Strong communication skills as you will be expected to develop relationships with clients
- An understanding of escalation
- An ability to handle working in a pressurised environment
- A desire to question existing procedures and continually seek to improve processes
- Ability to work unsupervised
- A desire to go above and beyond daily responsibilities
- Seek to problem solve
- Strong sense of accountability
- Risk management skills
- Leadership skills
- Organisational skills
- Ability to work across silos where required
- Initiative

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