We're seeking someone to join our team as a Vice President in ISG Fixed Income Operations to support Morgan Stanley's FID Secured Lending (FSL) business. FSL Operations supports all operational functions across the loan life cycle for the business's warehouse and other secured credit facilities that are backed by collateral including mortgages, hard assets and equity pledges. Vice President's in FSL Operations are based in New York and Baltimore and are responsible for leading teams to implement scalable, risk-controlled client and business support through periods of high volatility and business expansion.
FSL Operations manage primary origination, syndication, collateral management and loan servicing across all FSL asset classes and partner with both external clients and internal stakeholders (FSL Business, Asset Management, Financial Controllers, Credit, and Legal) to ensure that operational functions and risk are managed effectively.
In the Operations division, we partner with business units across the Firm to support financial transactions, devise and implement effective controls and develop client relationships. This is a Team Manager position at Vice President level within Product Support & Services, which is responsible for providing transaction support and managing post execution processes.
What you'll do in the role:- Deploy people strategies to inspire team commitment through assigning tasks that maximize individual and team strengths.
- Responsible for coaching and guiding the team on new deal structures and collaborating with the FSL Business to develop solutions that meet client expectations, ensures that loan facilities are accurately represented in firm books and records, and that the underlying collateral is accurately tracked for financing eligibility and valuation.
- Partner with the project team and Technology to lead the execution of FSL's digital transformation operating model to reduce manual work and create straight through processing throughout all operational functions.
- Enhance and maintain the operational risk framework to ensure that risk reporting (e.g. KPI, KRI, RCSA) is managed in accordance with the firm's policies, procedures and guidelines. Core responsibilities include the daily management of the below functions:
- Review relevant credit and closing documentation to build out bilateral and syndicated loan facilities in internal booking systems
- Daily loan servicing including borrowing/funding requests, settlement/paydown processing for bilateral and syndicated facilities
- Collateral review and management: load and review of daily custodial reports; coordinate with external document custodian on exceptions.
- Execution of collateral releases for the shipment of loan documents to investors purchasing loans off the warehouse line.
- Borrowing base management: monitoring warehouse line expiration dates, advance limits, collateral eligibility, and deficiencies; coordinate with client and Business Unit as needed.
- Where applicable, coordinate with Credit and Business Unit on temporary exceptions
- Daily review of exception/break reports and taking appropriate actions to resolve
- Preparation and distribution of periodic interest & fees invoices
- Fielding other ongoing/ad hoc inquiries/requests from clients
What you'll bring to the role:- Bachelors degree required
- Previous experience in institutional lending operations
- At least 5-7 years of experience managing a team
- Strong interpersonal, customer service, and supervisory skills
- Highly motivated self-starter with excellent prioritization and multi-tasking abilities.
- Ability to work in a fast paced environment, both independently and as part of a team.
- Demonstrate ability to learn quickly with strong flexibility in regard to the duties assigned and problem solving skills.
- Excellent verbal and written communication skills.
- Knowledge in warehouse lending and collateral, or residential and consumer lending
- Knowledge of the secondary mortgage market, including involvement of government-sponsored enterprises (i.e. Freddie Mac, Fannie Mae)
- Experience with Loan IQ is a plus
- At least 10 years' relevant experience would generally be expected to find the skills required for this role
Salary range for the position: $93,000 - $140,000 Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.
