Global Banking Services Associate
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. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Global Banking Services currently operates as a global unit with extensive communication between different teams, currently located in Glasgow, Hong Kong and Mumbai.
The Global Banking Services team are responsible for the opening and closure of custody and clearing bank accounts held at external agent banks, and own the creation and ongoing review of Regulatory documentation associated with bank account openings, including Client Money letters, Asset Segregation letters and Good Control Location Letters. This broad remit covers the full spectrum of Morgan Stanley entities across all markets. Such scope provides a dynamic, ever changing backdrop for an exciting role involving collaboration across multiple Business Units and Ops teams.
This role is to oversee the full front to back process of opening and closing external bank accounts within the Asia region. The role involves working closely with both internal and external (Agent Bank) teams to ensure prompt bank account opening and closing, adherence with market regulations and provide escalation in line with the agreed SLA's.
The roles primary responsibilities include:
- Manage the front to back account opening and closing process across Asia markets
- Perform review and approvals in relation to bank account opening process. - Risk Management: collation and distribution of KRI's / KPI's, and key metrics. Ensure continued adherence against agreed SLA's. - Internal and External Engagement: hosting daily / weekly calls to review account opening and closing requests with both internal stakeholders and external agent banks
- Stakeholder Management: Conduct meetings with internal stakeholders, and external stakeholders (agent banks) to assess issues, performance and service levels
- Project Management: manage high focus account opening / closure requests on the back of key deliverables
- GBS Infrastructure: working closely with GBS IT to continually improve the GBS IT infrastructure and workflow
- Subject Matter Expertise: develop current and in-depth knowledge of Asia markets, account opening requirements and pre-investment information
- Understand Regulatory requirements in relation to account opening and closing - KYC, AML, Due Diligence
- Ensuring the sustainability of the LEAN culture within the team, and continuing to strive to seek out operational efficiencies
- Ongoing escalation to keep Managers updated on progress