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Reconciliation Utility Control Associate - Operations

Posted on Dec 10, 2018 by Morgan Stanley USA

Baltimore, MD 21201
Manufacturing
3 Dec 2018
Annual Salary
Full-Time
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.

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Firmwide Operations includes Shared Services and Banking Operations (SSBO), Operations Risk and Control, Global Project Group and Metrics, Branch Operations and Divisional Management. Shared Service and Banking Operations delivers industry leading operational solutions by aligning the right functions, people, processes and tools into ten core disciplines offering tailored client service levels that are efficient, controlled and compliant with regulation. Our core disciplines include: Asset Servicing, Cash Management, Client Data Management, Global Banking Services, Loans Servicing, Network Management, Payments (Wireless and Disbursements), Reconciliations, Settlements and Tax Operations. Operations Risk and Control ensure adequate controls are in place, through providing an integrated risk and control framework to govern, assess, mitigate and manage financial and operational risk in Operations.

The individual will work closely with various Operations teams and the reconciliation service provider (TCS) based in India to supervise reconciliation processes, execute risk control, and ensure that the vendor provides quality service as per the agreed terms and conditions of the contract.

Responsibilities include:

- Review exceptions/breaks and the quality of research done by TCS - provide feedback, if necessary
- Check weekly ageing reports against risk reporting and escalate to product management and senior management, where appropriate
- Assist and train the staff at TCS in exceptional processing cases
- Perform various intra day & end of day control checks on occasional basis to ensure that TCS delivers quality output
- Identify risk issues, escalate where appropriate and provide assistance in resolving issues
- Ensure upward, downward and peer communication of developments and issues
- Communicate changes/developments (process, organization or service related) to the vendor on a timely basis
- Timely escalation of any process/people issues (TCS related) to the vendor management group
- Review changes suggested by TCS related to process, documentation, etc. and approve by following the proper change management process
- Review SLA reporting done by TCS and provide feedback
- Participate in various governance meetings
- Participate in organizational initiatives

Qualifications:

Experience:
- Professional
- Self- confident, demonstrates integrity and demonstrates business appropriate behavior
- Highly motivated self-starter with multi-tasking abilities
- Strong leadership skills
- Ability to delegate and monitor the progress
- Sense of ownership
- Risk awareness and ability to recognize potential risk issues
- Ability to follow through the tasks in systematic manner to completion
- Positive attitude with the ability to work in a team oriented environment
- Experience in reconciliation processes
- Excellent inter-personal skills
- Strong computer skills
- Ability to work under high work pressure
- Attention to detail, and ability to perform to a high degree of accuracy
- A strong interest in and enthusiasm for building a career in Financial Services
- Experience with metrics reporting and reviewing related to account reconciliations
- Innovative and creative challenges to existing processes
- Ability to adapt to changes Reconciliation Utility Control Associate - Operations

Reference: 598336522