Control Group Compliance Officer (Director / Vice President)
Position Description
1. Job Objective
To assist Morgan Stanley, to comply with the regulatory and legal obligations across all the global jurisdictions in which it conducts business.
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 Institutional Securities (comprising Sales Trading, Research, Investment Banking) Wealth Management and Asset Management (comprising both Traditional Asset Management and Merchant Banking and Real Estate). The Department also provides services to Firm Management, Finance, Risk, and Operational staff. The Compliance Department is also an independent control function.
The Department provides guidance and advice to the Firm on regulatory matters, implements compliance policies, designs and tests systems and controls 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, pre-clearance of certain transactions, and providing advice to the trade surveillance team. The Control Group also provides general Compliance advice and issue escalation in connection with a wide range of other regulatory matters.
Morgan Stanley is looking to increase the team to 7 staff by adding an additional senior headcount. The recruit will be joining a well-regarded and efficient team which has developed strong relations with the Front Office and is dedicated to service improvement and risk management.
3. Principal Duties
a. Information Barriers/Conflict Management
Ensure compliance with procedures designed to prevent conflicts of interest between Investment Banking and Sales Trading, and Research activities conducted by the Firm. Closely monitor status of the Firm's Investment Banking (including Capital Markets) projects and maintain Watch List and Restricted List (and related matters);
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 Investment Banking, Employee Trading, and working with internal and external lawyers, providing advice on Takeover Code, US, UK and other laws and regulations.
c. Management and Supervision
Working with the other most senior members of the team, the candidate will act as an escalation point for other members of staff, provide judgement on complex issues, assist in the development and career progression of their colleagues, formally and informally supervise the work of colleagues.
d. 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 Compliance Reviews as required;
(iii) update existing procedures and develop new policies;
(iv) assist in the enhancement of existing processes and work to develop new controls for oversight of Control Group processes
(v) Provide supervisory review for certain types of research and act as a control check on other work items
(vi) participate in training to business units; and
(vii) liaise with business risk management teams and others in global compliance teams as required.
d. Hours of Control Group Coverage
Given the range of business units that the Control Group supports and the operational criticality of its services, the Control Group operates a shift system ensuring there is coverage from EMEA based staff from 7am to 7.00pm. These hours are managed through a shift structure which all team members participate in, and as with any business, coverage is also determined by team resource and workflow levels. In addition, the Control Group also offers a minimum level of critical weekend coverage to resolve urgent business related issues.
Primary Contacts
Due to the diverse and wide reaching 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 to 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
• The candidate will already be operating at a Director or Vice President level and would be expected to have recent Control Group experience; the ideal candidate's overall experience may comprise at least 2-3 years in a senior Control Group capacity
• Familiarity with general UK and US compliance issues and relevant laws and regulations, e.g. 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
• Thorough working knowledge of relevant product areas (e.g. Research, Investment Banking and Capital Markets, Sales Trading ) and 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 - able to establish credibility with senior staff throughout the Firm
• Good analytical and numerical skills with an ability to assimilate large amounts of information quickly
• Good communication skills in order to present views to senior management and to explain technical requirements in a succinct way
• Ability to remain focused under pressure, identify and set priorities for others, perform multiple tasks simultaneously
• Able to develop strong relations with business units; providing a professional and responsive service with uncompromising commitment to the department's function as an independent control
• Escalation point for issues arising from junior members of staff
• Able to provide supervision of other staff and have experience of providing feedback and developing other team members
• Experience of identifying, evaluating and implementing improvements that either increase the performance of the CG or improve risk management
• Detail oriented and good memory skills
• Able to work both as a team player as well as independently
• A commitment to Morgan Stanley's Core Values. The Compliance Department particularly values staff who have demonstrated a desire and ability to have an broader impact beyond their day to day role
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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