Global Expense Management Analyst
Posted on Nov 18, 2018 by Morgan Stanley USA
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.
Morgan Stanley mobilizes capital to help governments, corporations, institutions and individuals around the world achieve their financial goals. For over 75 years, the Firm's reputation for using innovative thinking to solve complex problems has been well earned and rarely matched. A consistent industry leader throughout decades of dramatic change in modern finance, Morgan Stanley will continue to break new ground in advising, serving and providing new opportunities for its clients.
Morgan Stanley is committed to maintaining the first-class service and high standard of excellence that have always defined the Firm. At its foundation are four core values: putting clients first, doing the right thing, leading with exceptional ideas and giving back, that guide its more than 55,000 employees in 1,200 offices across 43 countries.
Morgan Stanley's Core Values: Putting Clients First, Doing the Right Thing, Leading with Exceptional Ideas, and Giving Back
Reengineering & Expense Management (REM) is a department within the Finance Division.
REM works in close partnership with the businesses and support functions within Morgan Stanley to identify and execute opportunities to manage non-compensation expenses through strategic sourcing, demand management, process reengineering, procurement management, and vendor and outsourcing governance. REM also leverages the Source-to-Pay process to create expense data transparency and ensure vendor contract compliance. REM carries out this mission through seven groups - Global Expense Management, Firmwide Sourcing, Procurement Operations, Accounts Payable, Global Market Data, Risk & Insurance Management and Third Party Program Management.
Background on the Team
Global Expense Management supports senior Morgan Stanley decision-makers in managing the Firm's non-compensation expenses and improving the Firm's efficiency. This is achieved through developing new broad cost savings opportunities which drive strategic and tactical cross-divisional savings initiatives, while also setting annual non-compensation expense targets and policies for all business and support areas. The team consists of three employees supporting the Head of REM.
The group's responsibilities include:
- Coordinating efforts across all areas of the Firm to reduce and manage non-compensation expenses
- Setting annual non-compensation expense targets for all business units and support areas, creating tools and processes to help achieve those goals, and holding these groups accountable for meeting their expense targets
- Developing and implementing disciplined Firmwide Expense Policies and appropriately restrictive approval/exception approval processes
- Introducing and driving broad initiatives to control non-compensation expenses
- Measuring performance with detailed monthly expense reporting and seasonally based forecasts
- Communicating progress via monthly Firmwide COO meetings and distribution of detailed expense reports to individual business units
- Regular reporting to senior management
- Providing weekly/monthly reporting and support on non-compensation expense details for all business units and support areas via SharePoint and our Qlik Sense dashboard
The analyst will report directly to Gabriella Sierra. The analyst will have the opportunity to regularly interface with senior officers, both within Finance as well as across the organization. This position represents a unique opportunity to understand the Firm's overall business platform, structure and organization as well as to learn about each of the businesses individually.
In this role, the Analyst will help prepare monthly materials for Chief Operating Officers and decision-makers from across the Firm to review expenses, brainstorm savings ideas and measure against expense targets. Ancillary responsibilities include gathering details on expense drivers, standardizing data and disseminating information to BU COO's to help facilitate active expense management and cost accountability. The Analyst will also work with subject matter experts to define reporting requirements, design reporting solutions and drive delivery.
- Working with our business unit and support area controllers to obtain their respective non-compensation information for the monthly expense meeting attended by our CFO, divisional COO's and regional representatives
- Creating materials for the Firmwide monthly expense meeting
- Publishing Firmwide Expense Policies, non-compensation expense reports and presentation materials
- Managing entitlements and provide access to divisional COO's and their teams to access their respective area's expense information via SharePoint, distribution groups, and our expense analytics dashboard
- Creating expense analyses to help identify cost savings opportunities to control non-compensation expenses
Skills required (essential)
Candidates are expected to have top reviews and performance records that demonstrate solid problem solving, project management and analytical skills.
Candidates should also be strong communicators and possess the ability to work across multiple business units and on multiple projects simultaneously. The ideal candidate should be interested in pursuing a long-term career at Morgan Stanley. Like all analyst positions, strong analytical skills are essential (including experience with Excel and PowerPoint); however, given the extent of interaction with upper-level management, this position additionally demands:
•Excellent communication skills (written and verbal)
•Professionalism and maturity
•Excellent presentation skills
•Attention to detail
•Innovative, "Think outside the box" mentality
•Microsoft Access and other logic query based knowledge with databases
•Tableau or Qlik Sense
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential.
Global Expense Management Analyst