Associate - Credit and Market Risk Reconciliations null

Job 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 are 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, achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile

The Credit & Market Risk Operations team is responsible for providing Proof and Control for Counterparty and Market Risk data to the Credit & Market Risk Department, Global Standards and Disclosures and Regulatory Controllers.
It is a Global Team and the Mumbai team will be responsible for supervising and overseeing Credit and Market Risk reconciliations performed by our 3rd party vendor. In addition, the team is responsible for assisting with the escalation of issues to appropriate contacts and maintaining control over the Credit & Market Risk Operations processes & US DvP Reconciliation.
The successful applicant will work closely with the vendor management group and Vendor to help ensure that they provide quality service as per the agreed terms and conditions of the contract.

Primary Responsibilities

The candidate will operate as a member of a team of individuals working together on a shared workload whilst reporting to a Team Manager. The candidate will be expected to organize the workload of the team and to be able to contribute to supervising work performed by the team. The candidate will be expected to analyze and improve processes, identify and manage risk and guide junior members of the team. As such communication and organizational skills, as well as attention to detail and a readiness to escalate issues with a sense of urgency, are important.

The successful candidate will have the following responsibilities

• Review exceptions/breaks and the quality of research conducted by the Vendor and provide relevant feedback where necessary.
• Participate in Weekly Risk Meeting to review all outstanding risk issues with Vendor.
• Assist and train the staff at Vendor in exceptional processing cases, if necessary.
• Perform various intra-day & end of day control checks on an occasional basis to ensure that the Vendor delivers quality output.
• Assist staff at Vendor to perform root cause analysis and elimination of issues at the source.
• Identify risk issues, escalate where appropriate and provide assistance in resolving.
• Ensure upward and peer communication of developments and issues.
• Review changes suggested by the Vendor related to process, documentation, etc. and approve by following the proper change management process.
• Perform various reconciliation functions for those processes retained within the Control Group.
• Ensure the team SLAs are met and, where possible, exceeded
• Actively seeking out opportunities to improve the team's control framework and ensuring controls are carried out in as efficient a manner as possible
• Ensuring existing procedures are documented, kept current and complied with
• Participate in testing to protect the process from impacts of system/booking changes
• Developing and maintaining relationships with key stakeholders and business partners
• Build an understanding of our process and how this links to our client's requirements and the regulatory framework.
• Pro-actively communicate exceptions/issues within our processes that may impact our clients but are out with our immediate scope of reporting.
• Provide periodic updates on project deliverables to team management
• Must involve in project deliverables as per set deadlines
• Provide status updates at a regular interval 

Qualifications

• Proven analytical and problem-solving skills, alongside the ability to assimilate and learn quickly
• Excellent verbal and written communication abilities
• Superb attention to detail, accuracy & quality
• Strong time management and task prioritisation skills. Willing to work additional hours to ensure all deliverables are performed within required timescales
• Strong sense of urgency, accountability and ownership
• Focus on guardianship, ensuring that issues are identified, escalated, resolved and reported on a timely basis
• A positive outlook, energy and enthusiasm. Is a self-starter who takes individual ownership of work quality and improvement. Leads by examples working with drive and determination
• Ability to work well under pressure, lending control and order to a difficult or pressurised situation
• Ability to absorb information and learns quickly
• Innovation and creative skills challenge the existing processes and status quo.
• Excellent interpersonal skills

Skills Desired

The following skills would be advantageous, but not essential, for candidates applying for this role.

• Knowledge of Market Risk Theory and Concepts
• Knowledge of Fixed Income, Equity & Commodities Products
• Knowledge of Firm Trading, Operations and Finance Systems