This job has expired, please see additional jobs below
New Accounts Servicing Director- Wealth Management Operations
Morgan Stanley
South Jordan, UT, United States
Job Details - this job has expired, please see similar jobs below
Description
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.
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 Account Servicing Director will report to the National New Accounts (NNA) Vice President, and is responsible for the direct supervision of the Branch Servicing team in South Jordan Utah.
Role
The Servicing Director (SD) is accountable for the achievement of metrics and quality goals related to their department. Along with playing a key leadership role, general responsibilities include the following:
• Active participation in the planning and budgetary processes for the department
• Coaching and developing the team to improve performance and deliver the highest possible service standards to our clients
• Leading and supporting functional and site-wide initiatives, which includes building relationships with internal business partners
The SD directly supervises line staff. The SD monitors and ensures staff performance and service levels through direct observation. The SD produces and analyzes performance metrics, such as processing volume, daily throughput, reject and error rates, processor efficiency, processor and document quality, forecasted and actual staffing, and document backlog. The SD produces and analyzes balanced scorecards for the team.
Specific Job Duties
• Establish overall objectives, policies, strategies, and tactical operating plans to maximize the service provided
• To understand the business strategy and vision, and subsequently develop and execute a tactical plan in line with that strategy, while helping direct and guide the management team accordingly
• To direct and achieve financial objectives for the operation, and to be accountable for determining and meeting budget. Further, to evaluate operating and financial reports, and to manage to short and long range cost expectations, sales, market trends, and processing volumes. Lastly, to assess the probable impact on plans and to see that the appropriate actions are taken
• To analyze management information reports to determine if area goals and objectives are being met. To identify and implement cost reduction measures as needed.
• To develop expectations for staff of all levels, to monitor progress towards goals, and to take appropriate and immediate corrective action as needed
• To help develop volume, and subsequently, staffing forecasts. To design short and long term staffing models that allows the location to meet processing volume requirements.
• To coordinate the implementation of system enhancements and changes, and the installation of new technology and deployment of related-policies and procedures
• To ensure maintenance in a presentable condition and in compliance with company safety standards all company property, including land, building, equipment, and other assets.
• To help develop a strong management structure by providing targeted coaching and active mentoring to direct reports and skip-level managers.
• To collaborate with business and product heads as a proactive businesses partner.
• To work with senior Morgan Stanley management to help design and shape client and field support/service models.
Qualifications
Required Knowledge / Skills
• Strong computer skills
• Working knowledge of Excel and Qlikview to analyze and report process metrics
• Strong focus on quality control, supervisory procedures, audit logging, and operational risk identification and analysis.
• Strong customer focus and being results driven.
• Strong understanding of the competitive landscape and of trends in new account opening, both within and outside of the securities brokerage industry.
• General understanding of current technologies.
• A proven inherent mindset that includes all of the following management disciplines:
• Financials: Actual vs. Plan, Run Rate, Risks/Opportunities, Normalizing Results
• Efficiency: Unit Costing, Capacity Planning
• Quality: Service Level Standards, Continuous Reporting, Regulatory Controls
• Project Management: Governance, Accountability, Financial Discipline
• Oversight: Audit/ Compliance, Supervisory Procedures, Legal and Regulatory Preparedness
• Manpower Management: Performance and Compensation Management, Staffing