OTC Equity Derivative Confirmations Director (AVP Equivalent)
- London, England, United Kingdom London England GB
- Permanent, Full time
- Morgan Stanley
- 24 Jun 18 2018-06-24
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.
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.
ISG Product Operations is a world-class global team of dedicated professionals, performing a myriad of functions, all with a common purpose: to manage Morgan Stanley's Clearing and Trading & Client operational processes and deliver value to our clients in a controlled and efficient way. The broad organization 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.
The global Equity Drafting function within ISGPO consists of documentation specialists split across London, New York and Mumbai. The London Drafting team supports the London and Far East exotic equity derivatives business and is responsible for all aspects of the Confirmation process including outgoing drafting, incoming checking and query resolution. The team performs a critical control involving drafting confirmations for the full range of exotic equity products traded by the Equity Derivatives business within ISDA guidelines. This includes ensuring that the confirmation matches the economic terms on the term sheet and also the trade booked in our transaction system. In addition to the industry guidelines and definitions it is the responsibility of each member of the team to ensure that we adhere to the internal Morgan Stanley controls and guidelines.
Job Duties and Responsibilities:
- Drafting, reviewing and negotiating of structured and exotic equity derivative confirmations.
- Producing and negotiating Master Confirmation Agreements, supporting electronic submission and matching.
- Investigation of booking and term sheet issues, which will involve daily interaction with sales, trading, legal and other internal clients.
- Monitoring and supervisory oversight of daily workflows to ensure confirmations are prioritized accordingly, ensuring Morgan Stanley meet external, FED-imposed, documentation targets.
- Production of reports and metrics for management.
- Active engagement in projects space. The individual should consistently look for control gaps and way to improve processes to ensure risk is minimized.
- Key stakeholder in both global and regional projects in partnership with global drafting organization & CTB team to identify thematic issues, drive efficiencies and control improvements as part of wider renovation of the Equity Swaps & OTC drafting process.
- Prior experience drafting and reviewing vanilla, mid-structured and bespoke Equity Derivative documentation is highly desirable.
- Knowledge of, and comfort with, the ISDA equity and swap definitions.
- Strong communication skills, preferably with experience as a direct point of internal & external client escalation.
- High attention to detail, coupled with advanced analytical skills.
- Strong teamwork ethic, whilst also having the ability + initiative to work individually, to complete tasks to high standards.
- An individual who is consistently looking to improve systems and processes.
- Ability to build strong working relationships with and influence internal partners including Front Office and Legal.
- Strong ability to maintain risk and control while balancing client service.
- Root cause analysis of reoccurring problems with ability to resolve.
- Awareness of current market initiatives in the Equity Derivative Documentation space.
- Knowledge of financial services industry, or legal background.
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-EC2