Vice President – OTC Clearing Integration recruitment
Position Description
Background of BRM
BRM is responsible for the management of financial resources within ISG Sales Trading and is positioned at the core of transaction flows to ensure proper and consistent allocation and pricing of resources across market facing businesses.
Within the group, OTC Derivative Client Clearing is running and building out Morgan Stanley’s capability in OTC Client Clearing to be a global leader in this service.
Job Description
This role covers the Onboarding function, and the successful candidate will be responsible for owning and managing client relationships from the point of introduction by Sales through to go-live for clearing and then ongoing business as usual thereafter.
As an Onboarding Manager the successful candidate will need to manage, organize and own all of the constituent parts of the onboarding process in order to successfully enable the client to clear trades through Morgan Stanley and to meet their requirements and expectations wherever possible. This onboarding process will include all of the steps and areas below:
• Legal documentation
• Technology and middleware
• Reporting
• Testing
• Backloading
• Portfolio Analysis
• Operational Processes
Morgan Stanley offers a consultative approach for clients and ensures that we integrate our services in a STP way for them. This involves spending time with the client, understanding their internal processes, IT and workflows and building an integration solution that fully meets their needs.
Due to the varied role described above the successful candidate will need to display a broad set of skills, though the main focus will be on technical and product knowledge, attention to detail, organisation and communication with the client.
Function / responsibilities:
• Scheduling and leading detailed technical workshops around the onboarding and operational processes in relation to client clearing.
• Assisting the Sales team in meetings, calls and with RFIs in order to win new business.
• Managing, owning and organizing the onboarding process front-to-back once a mandate has been won by sales.
• Face off to the client throughout the onboarding process and conduct all of the necessary work and organization within Morgan Stanley and with the CCPs to achieve go live for the client.
• Act as a point of escalation and technical knowledge / support for internal operations teams as needed.
• Develop and maintain testing materials/run books/presentations for clients, the BU and Operations
• Serving as an account captain for one of the three operational U.S. Clearinghouses, tracking ongoing clearinghouse progress on technology, flow, financial requirements, etc. that would impact the BU and reporting any such developments internally.
• Tracking all client portfolio requests and manage overdue items
• Liaising between the client and Operations Technology to provide updates on testing, track progress and provide technical oversight
• Explaining technical aspects of clearing to clients for affirmation/allocation, lifecycle events, credit events/triggering, fee processing/settlements, collateral and reporting across all live clearing houses
• Prepare and update project management documentation on testing
Skills Required
• Bachelors Degree (or equivalent) - analytical, financial or mathematically-related subjects preferred.
• Considerable experience of working within either an OTC Derivatives TA / middle office / Fixed Income intermediation role or a similar technical OTC Derivatives position
• Solid understanding of either Interest Rate Swaps or Credit Derivatives products
• Familiarity with trading platforms, full trade lifecycle processing, collateral and reporting as they relate to derivative products
• Evidence of interpersonal and relationship management skills, being able to communicate complex issues clearly and concisely with clients and business heads
• Experience with managing collaborative processes and working across different departments, ensuring other parties keep to deadlines and provide results
• Candidate should be able to organise themselves efficiently, keep track of multiple outstanding items and meet tight deadlines
• Demonstration in their past work experience of robust analytical skills and high attention to detail and accuracy
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