Vice President, Foreign Exchange Trade Support (FX TSG).
- London, England, United Kingdom London England GB
- Permanent, Full time
- Morgan Stanley
- 22 Jun 18 2018-06-22
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.
We are now recruiting for a Vice President of Foreign Exchange Trade Support (FX TSG). The Vice President is the lead for the region for FX trade support and works closely with the Business Units and Infrastructure management in realizing Firm objectives.
The role requires a high level of risk management awareness and guardianship. The candidate needs to demonstrate they can take ownership of initiatives and make pragmatic and sometimes difficult decisions based on sound judgment in complex situations, which serve the best long term interests of the organization.
The candidate needs to fully understand the Business Unit requirements and objectives, provide advice / recommendations as appropriate and help drive prioritization. The individual will need to work effectively across geographical and functional boundaries, and develop strong relationships and networks across the firm. Well-tuned client skills are essential.
The Foreign Exchange Trade Support Group plays a key role in front to back support of a broad range of FX products including but not limited to FX Spots, FX Forwards, FX Swaps, FX Options, FX Structured Products such as Structured Notes. This group provides important controls to ensure that P&L generation and risk is accurately captured. The successful candidate will be liaising with Trading, Sales, Legal, Finance Controllers, and Operations departments so that the trade is correctly booked in the risk system. The TSG is the conduit for all post execution information flow to other operational departments. The candidate will also work with IT, projects groups and management to improve systems and processes and incorporate the latest industry initiatives and best practises. The lead will be responsible for responding to regulatory inquiries as required and attest to the completeness and accuracy of responses and submissions.
- Day to day management of risk, ensuring this group adheres to a strong discipline of immediate issue identification, resolution and escalation.
- Proactive management of market-driven operational risk; FX is a very volatile product, and can trade in significant sizes, which in case of a trade discrepancy can magnify impact of operational incidents;
- Proactive management and partnership with other process-aligned operational functions, such as affirmation and settlement, settlement being a prevalent operational risk for FX products;
- Ensure full coverage over and adherence with Firmwide risk & control processes and principles;
- Proactive management and partnership with the COO's and business risk organization;
- Supervision of offshore and vendor teams in their FX activities, ensuring on-going transparency over their daily controls, escalation items; oversight of their change agenda, ensuring consistency with global infrastructure, processes and controls;
Change agent: the run the bank team gains support from a dedicated CTB team. Highlighting the major ones:
- Brexit and MIFID2, which will have major impacts on the booking models, and the control framework;
- On-going UMR roll-out;
- Enhancement of front end, electronic execution controls,
- Build and maintain a strong partnership with business leads; COO, Trading and Sales organisations, as well as Legal & Compliance;
- New business activity support: participate in the NPA process across all Operations groups, ensuring adherence to diligence and formalization standards;
- Cross functional interaction on business critical initiatives, which in the case of FX includes a close partnership with Finance;
- Financial stewardship: maintain transparency and on-going communication over financial performance;
- Ensure presence and active participation to critical industry forums; share information within the TradingOps function, but also across the wider Operations world where relevant;
Run the Bank
- Act as the point person for the desk to ensure that their queries are resolved quickly and accurately.
-Managing a team, looking after Trade Capture, Trade Affirmation and Allocation, Confirmations, Reconciliations, Resolution of breaks on FO/ BO recs, New Product Approval process, Life Cycle Trade Event Management, Provide intra-day support to Sales, House Clearing, compression and optimization initiatives
- Manage and drive process improvement projects disseminated to the team, such as automating manual processes, streamlining existing processes, reducing CnC stats and tighten risk control measures
- Ensure there is a constant cooperative partnership with internal teams, many of which are located in different regions around the world
- Track record of FX Operations experience.
- Excellence in multi-faceted, multi-level communication style and language.
- Strong people management skills. Experience in driving of staff progression and development.
- Skilled at stakeholder engagement across Operations? departments, internal business partners, and IT partners teams.
- Collaboration and teamwork skills and experience, including strong interpersonal skills
- Excellent client service and communication skills and the ability to interact with colleagues at all levels.
- Prioritization and effective time management skills.
- Problem solving through initiative and tenacity and ability to multi-task and grasp new concepts quickly.
- Ability to work under pressure and achieve results, whilst maintaining a professional, and client focused approach.
- Self-motivated and resilient.
- Demonstrated change agent capability.
- Advanced excel skills for data analysis.
- Proficient in Visio.
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.