Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
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Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.
Morgan Stanley Investment Management (IM) is a critical business within Morgan Stanley and is a leader in the global investment management business. IM Operations supports the equity, fixed income, multi-asset, liquidity and alternative businesses for IM, providing middle-office services including portfolio manager support, client services, portfolio transition management, market registration, product data and valuation oversight, and performance and attribution analysis, among others. IM Operations serves the firm's portfolio managers and associated teams by providing high quality support through excellence in processing, reporting, and management of strategic initiatives.
AVP/Vice President in European Fund Administration, reporting to Head of EMEA Fund Administration. The position will have responsibility for the day-to-day oversight of fund accounting / administration service providers for a number of European funds, principally UK OEICS, Luxembourg registered SICAVs, Luxembourg FCPs, Luxembourg Liquidity Funds, Australian Closed Ended Funds, and Irish fund of funds. Strong supervisory skills and deep accounting / financial reporting experience are essential. Knowledge of different domiciles within Europe and different Fund structures, including limited partnerships as well as custody operations will be an added advantage. The MSIM fund families range from complex emerging market funds to domestic equity funds.
The oversight function includes:
- Support of the MSIM Vendor Management program for outsourced Fund vendors (including periodic on-site visits to assess service provider performance and adequacy of controls)
- Participation in regular Service Review Meetings of outsourced Fund service providers such as the Fund Administrator and Trustee / Depositary
- Oversight and support of Fund Administration due diligence program (requires extensive knowledge & experience of reviewing KPI's, Fund NAV components/performance, trial balances, stock/cash/income/Withholding tax reclaims reconciliations, Total Expense Ratios, Fair Valuation, Currency hedged share class, Performance fee schedules etc.)
- Co-ordinate the production, review and approval of periodic Fund Financial/Regulatory reports (annual and semi-annual accounts, AIFMD Annex IV)
- Coordinate the annual audit and reviewing audit findings
- Responsible for the review of Fund Dividend rates and Net Income analysis
- Responsible for Fund Expense Management Process (reviewing/approving fund expense invoices and Fund Expense Budgets/Accruals)
?Responsible for Incident Management (requires experience with managing NAV Errors / fund operational issues)
- Fund Governance - Support preparation of Board materials for the quarterly Board of Directors meeting
- Participation and execution of various Fund Change events (e.g. Fund/Share Class launches, mergers, closures, prospectus reviews, Foreign tax, new strategies, regulation change etc.)
- Relationship & query management with internal & external stakeholders (including Fund Accountants, Fund Depositaries, Fund Auditors and Currency Overlay Management)
- Assessment of potential service providers and evaluation of the product structures. A strong background in diverse funds products is very desirable.
- Lead on Fund administration and accounting Request-for-Proposals; either with existing clients or new clients
- Establish and monitor accounting policies and procedures (complex financial instruments, fair valuation, etc.)
- Candidates for consideration must demonstrate a detailed and thorough understanding of fund accounting and fund administration for European fund structures domiciled in UK, Luxembourg and Ireland.
- Experience with Alternative Funds (Hedge Funds / Limited Partnerships etc.) Passive Currency Hedging and/or performance fee calculations are helpful.
- Familiarity and experience with structuring funds and various types of Fund structures is required, as well as experience and re fund launch and share classes.
- General funds business knowledge for eg. Transfer Agency, Depositary, Legal and Compliance are also required.
- Understanding and in-depth knowledge in relation OTC Derivatives or other complex instruments from a Fund Accounting and Pricing (for eg: Options, Credits, SWAPS, futures, Private Credit etc.).
- The individual must be detail-oriented and a self-starter able to maintain a high standard of accuracy while managing various client related and internal deadlines, a creative individual that can work independently or as part of a team working to exceed clients expectations. The individual must have strong supervisory experience of overseeing people, processes and vendors with an eye for identifying / managing risk.
- Strong independent Stakeholder Management Skills. Stakeholders would include Legal, Compliance, Financial Controllers, Transfer Agent Management, Investment Management Operations, Client Services, Product Development, Sales and Marketing etc.
- Strong communication (both verbal and written) and time management skills are required together with a proficiency in Microsoft Word and Excel.
- Fluency in another European language will constitute a competitive advantage.
- Bachelors degree or equivalent
- Experience working in program / project management or working on operations teams with significant change agendas
- Experience working in an investment management context
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise 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 commitment 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.