Private Banking Operations - High Net Worth Collateral Associate - Wealth Management Operations

  • Competitive
  • Baltimore, MD, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 20 Oct 18

Private Banking Operations - High Net Worth Collateral Associate - Wealth Management Operations

Morgan Stanley (MS) is a global financial services firm that conducts its business through three principal business segments Institutional Securities, Wealth Management (WM), and Asset Management. The WM network includes more than 15,000 Financial Advisors (FAs) with total client assets of over $2 trillion. WM provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit & lending, deposits & cash management, annuities, insurance, retirement and trust services. MS is expanding its deposit and lending services to serve the retail banking, private banking and commercial banking needs of WM clients. Private Banking Operations (PBO) is an organization that supports this effort. PBO is seeking a high quality Associate to be a part of our change management team that supports the private banking operations organization.

he HNW Collateral Monitoring Operations group is responsible for the identification and mitigation of Bank risk related to the securities based lending product, and works with various internal and external groups to ensure proper controls and reporting, including adherence to Bank Credit Policy and regulations related to the product type.

Major Job Responsibilities:

- Verify and process the daily margin call reports
- Verify and process the daily collateral reports.
- Coordinate margin call satisfaction with branches while protecting the Bank's interest regarding any outstanding margin calls
- In case of short fall, verify values in loan monitoring systems against loan officer's original underwriting
- Coordinate account closings and ensure all interest and principal payments have been made before releasing the Bank's pledge trait from the collateral accounts.
- Coordinate and approve the release of excess collateral and dividend payments.
- Notify branch and coordinate solutions with the financial advisors for any over limit situations.
- Provide necessary information for auditors during federal, state, and internal exams
- Identify existing and potential risk, and work with other areas to minimize or eliminate the risk
- Handle escalated issues from branches, the Sales Desk, or others areas of the firm
- Work with other areas of the firm, and IT to improve existing processes

Qualifications:

Required Skills:

- Intermediate working knowledge of Outlook, Word, and Excel
- Proven proficiency in problem resolution and demonstrated initiative
- Excellent organizational / time management skills to succeed in a high-pressure / fast paced environment
- Professional oral and written communication skills
- Superior attention to detail
- Strong research / analytical, and math skills
- Able to prioritize and multi-task

Desired Skills:
- Experienced margin background in securities-based lending preferred
- Bachelor's degree; business or economics degree preferred