Team Description
The Regulatory Onboarding Market Regulations team supports all Prime Brokerage, Equity Swap, and US Clearing clients (new and organic). This role is responsible for regulatory checks from front to back as well as project work related to the regulatory environment.
This is a Vice President, Team Manager position at the P4 job level within Risk, Regulatory & Resilience, which performs various independent functions to ensure adequate controls are in place. We do this by providing an integrated risk and control framework to govern, assess, mitigate and manage financial and operational risk in Operations
Job Description
The Market Regulations team is responsible for updating client data, conducts regulatory checks for accounts and works with multiple downstream teams to ensure all regulatory requirements are satisfied. The role liaises with many teams including risk, documentation, compliance, margin, and interest. This role is the business unit's single point of contact and will be coordinating with many different teams across the firm.
Core Responsibilities
> Escalation Management: Serve as a senior escalation point for clients and internal stakeholders in the Business Unit and within operations to coordinate issue resolution throughout the front to back onboarding process.
> Client Service: Listen to your stakeholders and/or clients to understand their needs, to gain their trust, and meet their expectations while continuing to manage operational and regulatory risk at an appropriate level. Identify opportunities to achieve operational efficiencies.
> Opportunity Management: Own interpretation and execution of Dodd-Frank, UMR, EMIR, SEC, FINRA, QFC and similar programs
> Relationship Management: Work closely with legal, compliance, risk, and sales/BU to implement regulatory programs and processes that do not impact the client experience. Serve as the primary source of information around regulatory programs and take every opportunity to build a good rapport with internal stakeholders.
> Risk Management: Manage audit or policy change related to regulatory processes and deliver high quality results. Establish effective controls, checks and procedures to manage day to day activities.
> Subject Matter Expert: Know and understand entity structures, regulatory requirements, jurisdictions, and our onboarding process flow. Collaborate with Business Units and IT to identify, drive, and implement process improvements and technology solutions.
> Regulatory Service Engagement: Proactively participate in regulatory discussions in relation to the On-Boarding of clients. Know and understand the purpose of key regulators (FINRA, SEC, NFA, CFTC, etc.) and serve as a key resource for the regulatory programs managed by the Market Regulations team.
> Client Engagement: Participate in key meetings with identified senior stakeholders and external clients to provide support and guidance around key regulatory programs.
> Continuous Process Improvement: Lead projects that will further advance the strategic vision of providing value added services to our stakeholders and clients. Identify process gaps and work with global counterparts and contribute to global initiatives or discussions relating to regulatory changes.
> Mentorship and Training: Establish relationships with members of the team, develop and execute continuous training plans to raise the level of overall team performance.
> Supervision: Support and supervise the activities of the team pertaining to the regulatory programs owned. Prepare status updates, metrics, and identify key risk indicators to present to senior management across all designated forums. Display the ability to handle volume spikes and prioritize work including ad-hoc requests and projects to meet business demands in a timely manner Qualifications
> Strong subject knowledge on the current regulatory environment
> Knowledge and understanding of the various financial products offered across business
> Attention to detail and research/investigative skills
> Work independently and meet the business deadlines with accuracy
> Problem solving skills to mitigate risks associated with the business
> Ability to implement strategic initiatives and provide insight on specific business drivers
> Effectively interact with the Business units, Compliance and other key stakeholders
> Actively engage with global colleagues in Hong Kong, Baltimore, London, Tokyo and New York
> Multi-tasking to handle various business requests and prioritize time accordingly
> Manage pressure and stressful business demands
> Exceptional organizational skills
> Adaptability to the changing environment
> Strong interpersonal and communication skills
> Client focused
Experiences Required:
> 5+ years' experience in financial services or other related operational roles
> Experience in regulatory compliance or equivalent background is advantageous
Educational requirements:
> Minimum Bachelor's Degree
Salary range for the position: $93,000.00 - $139,500.00/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.
