Department Profile
Institutional Securities Group (ISG) has created an ISG Data Group (IDG) to provide single point of accountability for the full spectrum of data related commercial initiatives. This ranges from the defensive risk reduction aspects of data security (both internal and external), through operational efficiency from improving data quality, to helping enhance revenue through further leveraging our data assets for providing services to our clients.
The Front-to-Back Transaction Reporting (F2BTR) initiative has been mobilised within IDG to focus on the specific regulatory risk associated with Transaction Reporting. The F2BTR initiative is tasked with establishing effective 1st Line of Defence across ISG and ensuring arising risks and issues are fully transparent and addressed, and making strategic front-to-back enhancements to reduce risk, drive efficiency and enable new business. To achieve this the initiative is progressing on four strategic dimensions – operating model, controls, data and technology.
Position Description
F2BTR is seeking a Vice President who will work across business lines and divisions to monitor and report Transaction Reporting risk globally, and drive improvements to front-to-back controls. This will include designing, implementing and transitioning to a BAU state, including repeatable and automated reporting processes. In addition, this individual will be required to support triage, analysis and coordination of front-to-back Transaction Reporting issues as they occur.
This role will involve interaction and collaboration with many teams across ISG including Central Risk, ISG Data Group, Business Control Units, Operations, Technology and Compliance. The ideal candidate would have a strong analytical and problem-solving capability, strong communication skills and ability to build and leverage relationships across the organisation, and experience of risk and control frameworks including use of metrics and performance analytics. Familiarity with Institutional Securities business, products and systems would be beneficial, as would experience of regulatory reporting requirements in general and Transaction Reporting in particular.
What will you be doing?
Risk Monitoring and Reporting
- Review, analyse and communicate risks and issues impacting Transaction Reporting
- Establish and execute quarterly Transaction Reporting Risk Review process, drawing on available risk metrics, tools and frameworks across ISG (e.g. Risk and Control Self-Assessment – RCSA, and Regulatory Reporting Monitor – RRM)
- Track Operational Risk Incidents (ORI) related to Transaction Reporting, identifying thematics and initiating and tracking remediation actions
- Monitoring Transaction Reporting regulatory landscape, in partnership with Operations and Compliance, to ensure ISG stays abreast of changes to regulatory requirements and expectations
- Monitor, influence and leverage investment in strategic tools to ensure maximum transparency of Transaction Reporting risk (e.g. RRM uplift and expansion, Non-Financial Risk Assessment implementation - NFRAC)
- Partner with Operations to drive enhanced Transaction Reporting Governance, including improved and business-relevant metrics enabling effective business supervision
F2B TR Control Framework
- Define and progress standard F2B TR Control Framework, including remediation of identified control gaps
- Establish and implement process for ad hoc F2B control reviews, as reporting regimes are prioritised
- Partner with ISG Data Group to ensure effective Front Office Data Quality control for Transaction Reporting data dependencies
- Establish framework for the continuous improvement of F2B TR Control
Issue Triage, Analysis and Coordination
- Engage with teams globally across ISG business lines, Operations and Technology
- Assess impact and cause of Transaction Reporting issues and engage appropriate parties, as required
- Present issues, projects and progress to senior management, as required
What We’re Looking For
- 5+ years of relevant experience in the financial services industry
- Knowledge of financial products / asset classes / risk measures
- Knowledge of the trade lifecycle & F2B data lineage/data flow experience
- Strong analytical and problem-solving capability
- Project Management - ability to scope, plan, and execute projects.
- Ability to build & maintain credible relationships
- Strong communication skills
Primary Responsibilities
- Monitoring and reporting of Transaction Reporting risk
- Drive improvements to F2B Transaction Reporting controls
- Management of F2B transaction reporting issues from initial identification to remediation
What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
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Certified Persons Regulatory Requirements
If t his role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.
Flexible work statement
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.
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 commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.
