CTA Hedging Associate – Accountant recruitment

Morgan Stanley has earned a worldwide reputation for the excellence of its advice and execution in financial markets. With over 1,300 offices in 42 countries, the firm is truly global- and a market leader in the U.S, Europe and Asia as well as in Emerging Markets.  We provide institutions and individuals with almost every kind of financial product and service across all the world’s major markets.

In 2000 the Institutional Securities division established an operations team in Glasgow with just 6 employees.  Since then our office has grown to over 1000 employees across 6 divisions: Operations, PWM, Finance, Fund Services, Information Technology and Risk Management.  Our offices are located in Glasgow’s city centre in the heart of the International Financial Services District.

We have built a world class reputation for quality and service and the talent and passion of our people has been critical to our success.  We can provide a superior foundation for building a professional career – a place for people to learn, to achieve and to grow.  Together we share a common set of values rooted in integrity, excellence and a strong team ethic.

Due to our growing business, we have a demand for career minded people to join our teams.   Our opportunities offer unrivalled scope for progression and training within a fast paced, meritocratic and constantly changing environment.

The Glasgow Finance Division helps senior management and its individual business units manage the firm’s risk by implementing financial controls over our business activities. The division is crucial to safeguarding the firm’s franchise, reporting on current performance, and evaluating business opportunities.

The Team:

The team are responsible for the hedging of the FX exposure arising from translation of the firm's foreign subsidiaries into the Group's reporting currency (USD). The Firm has over 500 non USD foreign subsidiaries which are subject to the CTA hedging programme and the CTA controller team is critical in ensuring the correct financial data is is aggregated and appropriate tax and accounting treatment is applied to meet hedge accounting requirements per US GAAP.  CTA is Cumulative Translation Adjustment.

The Role:

The successful individual will work as part of a two-person CTA hedging team, responsible for the management of currency translation risk, reporting to the CTA controller.  

CTA hedging follows a monthly cyclical process that involves capturing the movement in non-USD subsidiary assets, instructing forward hedges to the NY FX desk, entering the forward trades into the books and entering CTA and related tax adjustments.  

Month End Responsibilities:
• Working with the CTA controller on a range of monthly tasks, and acting as cover for CTA function
• Preparation of monthly CTA hedge instructions
• Posting journals to recognize CTA hedges within the general ledger
• Reconciliation of ledger balances
• Preparation of management information
• Preparation of supporting information for statutory reporting

Daily Responsibilities:
• Answering ad hoc queries from Global Product and Legal Entity Controller groups

Project Responsibilities

• There is  an opportunity to get involved in significant project work as part of the planned renovation of the CTA process

Skills Required
The successful candidate will preferably be a qualified accountant, however part qualified candidates would also be considered dependent on experience.

The individual would  also require the following skills:

- Good analytical skills, the ability to process and understand information from varying sources and systems
-An ability to see the bigger picture and quickly contextualize process knowledge
-Ability to plan and execute against tight timeframes  
- Strong organizational and prioritization skills
-Strong IT skills  Excel and Omega essential
-Numerate and ,good attention to detail
-Strong interpersonal skills and communication skills