FX Hedging & Controls, Associate
- London, England, United Kingdom London England GB
- Permanent, Full time
- Morgan Stanley
- 16 Mar 18 2018-03-16
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.
The Finance Division 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.
ISG Finance is responsible for overseeing the accounting and financial reporting for the Firm, which includes preparing external financial reports for public filings & regulators, whilst working internally on Financial Planning and Analysis (FPA). This includes summarising, planning and forecasting the organisation's financial position, including income statements, balance sheets, and analyses of future revenues, expenses and earnings.
Global Funding Controllers (GFC) are responsible for controlling and providing business support for the funding arms of the Firm and is part of the ISG Finance organization. Within London, GFC comprises of the following core groups: Bank Resource Management (BRM) controllers, Treasury Capital Markets (TCM) Controllers, and Liquidity & Funding Controllers (LFC). Pre 2008 crisis, funding was easy to obtain and not priced into trades due to ample liquidity in the markets. Post 2008, the landscape looks dramatically different where the economy and regulators have put a spotlight onto Funding and Liquidity making GFC both a focus and growth area. An opportunity is open in the Treasury FX Controllers in London, part of the Global Funding Control Group, is responsible for managing global foreign exchange exposure, at an entity level, arising from trading and non-trading activities across the Firm. Due to the significant risk to the Firm created by unhedged FX exposure, this team has a pivotal role in safeguarding the Firm’s assets. The team’s primary objective is to minimize revaluation P&L (transactional risk).
The team performs a range of functions including processing and validating daily hedge requirements and month end reconciliation and control work to validate hedges carried out. There is also scope for project and process improvement work in addition to ad hoc requests from the Corporate Treasury desk. The team has considerable interaction with Product Controllers, IT, Tax, Legal Entity Controllers, Corporate Treasury and our Treasury Controllers colleagues globally.
An opportunity has arisen for a permanent role within the team. The successful individual will work as part of the hedge execution control team, responsible for the management of transaction currency risk, reporting to the hedge execution control team manager. The hedging processes follow both a daily and monthly cyclical process. Daily hedging captures all exposure that is booked in a currency different from the functional currency of the entity. Hedge trades are executed by either FX spot trades or forwards with NY FX desk via Corporate Treasury. An integral part of the hedging process involves ensuring the integrity of the source data, as part of this role you will have responsibility for an internal suite of controls that validates the hedging data.
The team covers the following involvement and responsibilities, which this role will support:
• Preparation of the Consolidated Daily Hedging Instruction to Corporate Treasury to mitigate Transaction Currency Risk to the firm
• Reporting Daily Attributed P&L to Corporate Treasury
• Reviewing and controlling the Daily Control Framework
• Acting as Cost Centre Controller for Treasury Cost Centres in terms of hedging out currency exposure
• Maintaining strong relations with key stakeholders including Business Unit Controllers, Corporate Treasury, Legal Entity Controllers and Operations
• Provide support to wider controller group in relation to HERA CMI and Reval P&L related queries
• Preparation of Non-Standard Hedging Instruction for Asia Corporate Treasury
• Month end substantiation and sign-off responsibilities within 3R’s system for Net Revenue and Balance Sheet Accounts on Treasury Cost Centre’s
• Responsibility for preparing Reporting for Key Stakeholders including Regulatory Controllers, Business Unit Controllers and Senior Management within Treasury Capital Markets
• Management Reporting for Treasury Revaluation Currency BTR’s.
• Support manager dealing with ad hoc requests from Corporate Treasury desk.
This is not an exhaustive list of tasks, and responsibilities may change in line with the team and business needs.
- Good analytical skills, the ability to process and understand information from varying sources and systems
- An ability to see the bigger picture and quickly contextualize process knowledge
- Ability to plan and execute against tight timeframes
- Strong organizational and prioritization skills
- Strong IT skills - Excel essential
- Numerate and good attention to detail
- Strong interpersonal skills and communication skills
The salary of this role is competitive.
The closing date for applications is 12/04/2018
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.