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Cash Settlements Director
Morgan Stanley
Baltimore, MD, United States
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Description
NA Equity Cash Settlements Director
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
The Cash Settlements Team is responsible for all aspects of settlement for FX, Commodities, Credit, Interest Rate, and Equity OTC derivatives trades post-booking. The position requires daily interaction with clients, global sales and trading desks, middle office and IT teams internally.
Background on the Team
The group is divided into several teams by product and function, offering the fantastic opportunity to learn a variety of products and functions within the larger Settlements team. Each team is responsible for controlling risk by managing relationships with clients and counterparties to ensure that high risk settlements are settled in a timely manner and any post-settlement issues or discrepancies are identified, escalated appropriately and resolved.
The employee will be expected to analyze and improve processes and avert risk. The team provides exposure to a multitude of financial products and will assist in establishing or further developing a career within Operations at Morgan Stanley.
Product Coverage
This role is within the Commodities Settlements team, who is responsible for the settlement of physical and financial commodities involving the exchange of funds both into and out of the Firm. The team supports the settlement of transactions including oil, agriculture, natural gas, electricity, emissions, and coal, both purchases and sales. This role will offer individual extensive interaction opportunities across multiple groups within the Global Commodities division, exposure to a diverse set of commodity products, instruments and commodity industry skills.
Primary Responsibilities
-Ability to demonstrate strong organizational skills with keen attention to detail.
• Act as an escalation point for settlement issues and discrepancies with external counter parties, sales, and the trading desk, to resolve cash fail receivables and trial balances.
• Investigate and resolve complex settlements through various means, including daily interaction with key stakeholders, including trading desks, sales desks and middle office groups to ensure prompt resolution.
• Confirm correct settlement prices and ensuring trading systems are updated with correct pricing curves.
• Perform key settlement functions by creating payment vouchers and receivables invoices on a daily basis.
• Process early closeouts and novation of trades, as required.
• Acting as a process owner and being accountable for all outstanding items
• Developing and improving existing processes and reporting
• Working as part of the global settlements team to assist with development, testing & implementation of internal system changes
This is a highly intensive trading environment with opportunities to work closely with various groups. Due to the time-sensitive nature of the trading business, candidate should be prepared to occasionally work overtime, when necessary. The successful candidate will be required to gain an understanding of the broader responsibilities of Commodities Operations, life cycle of Commodities trade and systems. They should strive to be the first point of contact for operational issues. They will work externally close with counterparty and broker operations personnel to identify trade discrepancies and internally with traders, schedulers, controllers, and IT personnel to resolve those issues. The successful candidate will have exposure to a wide range of functions in a complex and dynamic market. The ability to multi task and prioritize will be key, combined with management of critical day-to-day functions.
Qualifications
Skills required (essential)
-5+ years of experience within settlement operations
• Bachelors Degree - Analytical, financial or mathematically related preferred
• Strong interpersonal and relationship management skills
• Strong analytical, organizational, and verbal and written communication skills
• Proven ability to work efficiently and accurately under pressure in a fast paced multi tasking environment
• Proactive and self-motivated
-Strong Microsoft Excel and Access skills, including the design and implementation of macros preferred
Guardianship: the role is risk critical. There will at times be high volumes. As such, it is key that the candidate is able to manage the day-to-day running of their workload, working independently to ensure that reports are reviewed, while maintaining a meticulous attention to detail. Investigation and the ability to ask why will be necessary to ensure that issues are understood and guardianship maintained.
Client Skills: This area has a high focus on desk and client impact. The candidate should expect to be the primary contact for the desk and external counterparts for their areas of responsibility. The candidate must be confident in dealing with challenging internal and external working relationships. Interpersonal skills in this respect will be key to successful working relationships with these areas. The candidate must have experience in a client service role, and be confident in dealing with sensitive clients.
Professional Attributes: The candidate will be able to identify ways in which to improve the work of the area, stepping back from the detail and looking at the bigger picture. The candidate will be a team player who actively seeks to build effective relationships with peers and across groups, taking the initiative and actively contributing to the work of others.
Organizational Ability: The area can work to tight time deadlines and high workloads, the candidate will be able to prioritize as necessary and multi task, sometimes balancing daily tasks with tight deadlines against projects such as new product setup or system testing.
Communication: The candidate will ensure effective upward and downward communication, and build effective internal and external working relationships.