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Balancing & Control Team Lead - Wealth Management Operations

Company: Morgan Stanley
Location: South Jordan
Posted on: June 6, 2021

Job Description:

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.

Department Profile

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.

The Balance & Control team of Wealth Management Operations is a responsible for the integrity of the Firm's books and records through the reconciliation of the security ledger (Stock Record) and the cash sub-ledgers that roll into the General Ledger. The team is in need of additional, specific subject matter expertise to assist in the interpretation and application of FINRA rules as team reconciliations and position and balance monitoring affect Financial Reporting Group calculations for capital charges.

The candidate will need to be able to:

  • Fully review and analyze the daily submission to the Financial Control Group for balances that contribute to the Customer Reserve (SEC Rule 15c3-3) calculation.
  • Streamline the performance and reporting of current reconciliations with emphasis on the impact of aged breaks, escalating exceptions with market value exposure, and gained efficiencies within each reconciliation process.
  • Leverage knowledge of SEC Rule 15c3-1 and 15c3-3 and apply to the review and reporting of suspense, control, clearance and location account position and balances.
  • Review daily reconciliation exceptions and account balances as well as limit month end balances included in the Operations FOCUS report.
  • Provide complete and clear commentary for all related balances included in the FOCUS report.
  • Communicate and escalate, in writing and in person, processing issues and exceptions to various team managers and senior management.
  • 5 years of experience
  • Familiarity with current challenges in Financial Services institutions
  • Keen attention to detail with a methodical approach to root-cause analysis and problem solving
  • Effective organization and communication skills
  • Demonstrated ability to adapt quickly and engage stakeholders at all experience levels
  • Ability to multitask, prioritize, and act in a fast-paced environment
  • Strong interest in process improvement, automation, and system enhancements
  • Desire to lead and learn continuously

Keywords: Morgan Stanley, South Jordan , Balancing & Control Team Lead - Wealth Management Operations, Other , South Jordan, Utah

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