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Asset Servicing Capital Markets - Director - Wealth Management Operations
Morgan Stanley
New York, NY, United States
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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.
Division and Department Profiles
The Global Operations Division 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
Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our wealth management 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.
Wealth Management Operations rolls up into the Global Operations Division and provides brokerage, investment and financial services support and control for hundreds of thousands of individual investors, across millions of accounts. We apply our expertise in serving clients to create new opportunities for people to achieve their personal financial goals.
Capital Markets & Core Processing Services (CMCP) is part of the Wealth Management Operations organization and provides operational support and control to the Capital Markets business within Morgan Stanley Wealth Management. CMCP consists of typical securities operations functions (middle office, trade support, client service, settlements, securities lending, regulatory support and asset servicing).
Role Description
Our recruiting need is in the Asset Servicing team within the CMCP organization. The Asset Servicing team provides the full suite of asset servicing support for the entire US Wealth Management platform. This includes all equity and fixed income products that require the processing and control of dividend events, interest payments, maturities, redemptions, mandatory corporate actions, voluntary offers, etc.
The candidate will sit in the Asset Servicing run-the-bank (RTB) space, directly reporting to the department Executive Director (ED).
The candidate will be responsible for leading and coordinating all change programs for the entire department, as well as being the lead change-agent challenging all existing processes and redesigning new flows. This is a terrific opportunity for a change-agent to design change governance programs, and once the governance programs are up and running, the manager will get to manage the programs they designed.
The change agenda for the Asset Servicing team is large, complex and multi-year. It includes numerous major technology renovation streams, formal change-the-bank (CTB) programs, significant operational process redesign, service model changes and team restructurings (that could lead to changes in the teams on and offshore footprints). The manager will be asked to design and implement a change governance program that will bring together numerous change programs and streams into a consolidated change book of work. Once the change governance program is approved and implemented, we will ask the manager to own and run the change governance program.
Additionally, the manager will be asked to redesign the RTB technology change governance process (i.e. bug resolution and small enhancements). Once the governance program is redesigned, the manager will tasked with driving and leading the RTB technology change program. Management of the RTB tech change program will include the coordination of all technology testing through the tech release cycles.
As the teams spend the next 2-3 years migrating onto a new strategic technology platform, we will ask this manager to spend a large portion of their time partnering with the managers and teams to challenge and redesign all processes and controls. The team and business cannot afford to spend 3 years renovating the technology platform to then simply transfer historic processes onto a newly renovated platform.
In addition to designing and running our change programs, this manager will be accountable for sponsoring our LEAN change program (i.e. 6 sigma toolkit)
Qualifications
Financial operations experience is a must (10+ years would be ideal).
Experience with asset servicing operations, controls and technologies are strongly desired.
Knowledge of Wealth Management products and services desired.
Leadership skills: The candidate must have experience taking a leadership role and driving large, complex projects (both technology and operational).
Project management skills: The candidate must have the ability to create practical and comprehensive implementation plans and partner with all levels of management and stakeholders to gain consensus. Experience of managing multiple projects or engagements and their associated budgets is essential.
Business Analysis: The candidate must be highly analytical with experience in designing and improving complex operational processes.
Communications skills: The candidate must be able to understand and concisely explain complex issues, strategies and processes. Must be able to communicate with all seniority levels. The candidate must also possess strong written and oral communications skills.
Client management and teamwork skills: The candidate must have demonstrated ability in being flexible and working with stakeholders and colleagues at all experience levels.
Consulting background would be beneficial.
College degree required.