Control Group Associate
Position Category: Legal/Compliance
Position Title: Control Group Associate - Compliance, London
Job Level: Associate
Location: United Kingdom - London
Education Required: Refer to Position Description
Position Description:
1.Job Objective
To assist the Firm as a whole, as well as individual business units, to comply with UK legislation and regulation, and applicable European and foreign legal requirements.
2.Job Dimensions
The EMEA Compliance Department is a service-oriented department which provides guidance and advice to all business and support staff at the Firm, including sales, trading, research, investment banking, financial, administration and operational staff.
The Department provides general transactional guidance and advice to Business Units and other staff, implements compliance policies as required, and provides training. It also undertakes surveillance activities and utilises exception reports to monitor and, where appropriate, investigate Firm, customer and employee trading activity. The Department is also called upon to render advice on legal requirements; the rules and regulations of SROs, exchanges, and other bodies; and Firm policies and procedures.
The Control Group in the Compliance Department is responsible for many aspects of the maintenance of the Firm's Information Barriers (Chinese Walls), including the Firm's Watch and Restricted Lists, review of research reports, preclearance of certain transactions, and trade surveillance as well as general advice and issue escalation in connection with a wide range of issues. The team consists of seven team members including a regional manager and is broadly divided into two main worsktreams - Investment Banking/Research and Sales Trading/Surveillance.
3. Principal Duties
a. Information Barriers/Conflict Management
Ensure compliance with procedures designed to prevent conflicts of interest between the investment banking and sales, trading, and research activities conducted by the Firm. Closely monitor status of the Firm's investment banking projects and maintain Watch List and Restricted List (and related administration);
This vacancy is in the group's Investment Banking/Research workstream and the principal duties reflect this. As such the main tasks will focus on conflict management between the Firm's Private Side and Public Side and in particular the Research function.
b. Advice and Interpretation
Provide advice and interpretation of Morgan Stanley's policies and regulatory requirements, particularly relating to Restricted List, communications between Research and Sales Trading, own-account dealing, and working with internal and external lawyers, providing advice on Takeover Code, US, UK and other laws and regulations.
c. Other
(i)participate in regional and global system and IT development projects aimed at enhancing the Control Group's surveillance program;
(ii)participate in audits and Annual Compliance Review as required;
(iii)update existing procedures and develop new policies on an ongoing basis;
(iv)participate in training to business units; and
(v)liaise with business risk management teams and others in global compliance teams as required.
d. Hours of Control Group Coverage
Given the wide range of business units that the Control Group support, the hours of coverage are dictated largely by their requirements. Accordingly the group's core coverage hours are from 7am to 7.30pm. These hours are managed through a shift structure which all team members are expected to participate in, and as with any business coverage is also determined by team resource and workflow levels.
Primary Contacts
Due to the diverse and widespread nature of the team's role, the team members are in close constant contact with other staff from Legal and Compliance and various business units. Interaction can often be with very senior members of staff. The Firm runs a global Control Group and there is regular contact with staff in Hong Kong and New York.
Supervision
The successful candidate will report to the EMEA Control Group Manager who reports into the EMEA Head of Private Side and Research Compliance. Training needs for the individual would be reviewed regularly.
Skills Required:
•University graduate or equivalent degree (in business, accounting or law ideally)
•Previous Control Group Compliance experience; the ideal candidate may have 1-2 years experience in such a role
•Familiarity with general UK and US compliance issues and relevant laws and regulations, eg. US Securities Act and the UK Financial Services Act. Particular experience with insider dealing and Information Barrier issues, Market Abuse, Financial Promotion, Code of Market Conduct and applicable laws and regulations
•Solid working knowledge of relevant product areas (e.g research, investment banking capital markets, sales and trading ) plus a good working knowledge of the main regulatory areas of focus for Control Group (e.g Chinese Walls, Insider Dealing Market Abuse, US Research Settlement, LTOP, MAD etc)
•Professionally mature and articulate
•Good analytical and numerical skills
•Good communication skills in order to present views to senior management and to explain technical requirements
•Ability to remain focused under pressure and perform multiple tasks simultaneously
•Detail oriented and good memory skills
•Able to work both as a team player as well as independently
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.
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