One of the largest divisions in the Firm, Operations is the first line of defence for Morgan Stanley's financial and reputational well-being and essential in delivering value. Operations is responsible for correctly settling and recording millions of transactions per day, identifying and mitigating operational risk, developing strong client relationships and partnering with technology to realize the full potential of IT and Automation. Operations has a premier team of creative and dedicated professionals, with a unique vantage point interacting with all parts of the business. The Operations Senior Management team is passionate about our people development and providing top-notch employee opportunities through an inclusive, forward-looking environment defined by open communication, collaboration, learning and dedicated career management.
Institutional Securities Group Product Operations
Institutional Securities Group Product Operations (ISGPO) partners closely with Sales & Trading and our Clients to process daily activities, develop and implement new products and services, as well as drive efficiency and reduce risk in our processes.
Trading Operations is a key partner to the Firm's institutional trading business globally providing trade and post trade support covering Fixed Income (Rates, Credit, Cash, FX, Commodities, SPG & DSP) and Equities (Equity Cash, DSP, Equity OTC, Fund Derivatives & MSET) products. Playing a meaningful role in trade verification, new product approval, reconciliation of the Firm?s books & records and supporting regulatory obligations, the department offers interesting opportunities for a talented team.
Role Description & Responsibilities
In this role you will provide support for the Commodities business in London. The London Commodities Trade Support team is 12 in size and in split into 2: one group focuses on the OTC activity, whilst the other deals with listed exchange trading. The range of commodity products covered includes: emissions, precious metals, base metals, freight, European power & gas, coal and oil. Following the divestiture of the majority of the firm's physical commodity assets, most of this activity is financial (i.e. swaps, options and futures), although we do trade physical spot and forwards in gold, silver and emissions.
The team will be responsible for several key steps in the trade life cycle, working closely with various utility teams such as Trade Confirmation/Affirmation and Settlements in Derivatives Post Trade Obligation (DPTO) and Shared Banking Service Operations (SSBO) respectively.
Key responsibilities of the team include:
- To ensure timely completion of daily reconciliations on listed, OTC, trades and physical inventory positions such as emissions, etc.
- Work with Listed/Clearing teams to ensure all exchange breaks are fully resolved
- To ensure all trade activity from the exchanges feed down into the various risk systems
- For listed exchange activity, ensure all LCEs are performed (exercises, expiries etc.)
- To ensure the timely fixing of prices on commodities from oil to freight to coal to various FX curves (mainly a month-end task).
- To leverage TSG expertise in regulatory reporting exception queries from TTRO teams
- To support new business initiatives in NPA pipeline
- To review and complete the set up and maintenance of reference data for counterparties and trade related data
- To work with other Operation areas- i.e. ORCC, Listed & Clearing, SSBO, together with colleagues in Trading Operations
- To work with other Infrastructure areas- i.e. IT, Finance, Legal and Compliance.
- Work with external vendors in India
- To understand the trade lifecycle, products, processes and systems, and to ensure risk controls are documented and implemented by the team on an ongoing basis as best practice.
- To identify and implement continuous improvements in systems and processes to enhance controls and gain efficiencies
Skills that You Bring
- Experience dealing with Sales & Trading
- An awareness of the current regulatory environment (EMIR, CFTC and MIFID II)
- Communication and risk awareness; ability to understand financial concepts, and communicate end to end lifecycle of a trade, risks and controls clearly and concisely at all levels
- Numeracy and attention to detail; able to learn concepts quickly and maintain a strong focus on control and accuracy
- Organizational skills and resilience; ability to handle pressure in high workload situations, prioritizing effectively and delivering against deadlines
- Initiative - high level of self-motivation, ability to take responsibility for tasks and managing team workload, proactive attitude to learning and sharing the team's workload
- Experience in commodities (OTC, Listed and Physical products) and/or derivatives is a plus
- Ownership/Guardianship - Ability to take responsibility for tasks and issues and see them through to resolution.
- Business product knowledge across all derivative products
- Good understanding of the front to back processing i.e. trading, clearing & settlement in order to understand market developments
You have a good understanding of commodities products and the trade lifecycle, including front to back processing (i.e. trading, clearing, confirmation, collateral and settlement). You have experience working with internal stakeholders and clients. You have an awareness of the current regulatory environment (ASIC, EMIR, CFTC and MiFID II). You have experience working as part of a global team.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong dedication to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.