Private Wealth Management, Credit Risk Management, Hong Kong
- Hong Kong
- Permanent, Full time
- Morgan Stanley
- 22 Jan 19
See job description for details
Morgan Stanley Private Wealth Management Asia provides highly customized financial advice, investment solutions and brokerage services to individuals, families and foundations.
As Morgan Stanley’s premier service for individuals and families with significant means, we specialize in providing our clients with custom-tailored financial solutions and a level of sophistication and access to expertise and investments typically reserved for large corporations, financial institutions and governments.
The Asian PWM franchise is an increasingly important part of the Institutional Equities Division business. The rapidly growing and fast evolving nature of this business presents unique challenges to the effective construction of risk management architecture to identify, measure and/or monitor the financial, non–financial and regulatory risks. Consequently, an opportunity has arisen for a Risk Manager to help meet some of these challenges. The appointment will be at Manager/Snr Manager grade.
The incumbent will play a role in the ongoing development of the risk management framework for the PWM Asia business – where clients are typically very entrepreneurial in outlook and very market focused, with a special focus on:
- Credit Risk: The risk of loss arising through the provision of margin lending and facilities to trade derivatives. Client due diligence, particularly assessment of clients’ income source and net worth size, will be an important part of the role.
As a member of the Risk Team, the individual will report to a Vice President within the PWM Asia Risk Management team.
Credit Risk Management
• Help support the growth of the local margin lending business in a controlled manner.
• Maintaining and approving credit limits for clients
• Ensuring compliance to various regulatory requirements in relation to credit risk management
• Conduct account and portfolio reviews
• Engage with relevant stakeholders including Firm Risk Management, Legal and Compliance, Internal and External Auditors, and Investment Representatives
Client Due Diligence
• Perform comprehensive reviews of new customer and account relationships based on information provided by the Account Opening team for Negative News, SOW corroboration and Total Net Worth substantiation.
• Check on the quality of the Source of Wealth and communicate with Account opening teams to obtain sufficient supporting evidence and corroborate net worth to required standards.
• Ensure clients’ declared Knowledge and Experience across products has been properly assessed and documented.
• Continuous active engagement with the Sales /Account opening teams to share and educate KYC and Risk related guidance/learning points, with the objective to improve the standard and quality of client due diligence.
• 4-5 years of relevant product experience in the banking industry preferably in Private Banking / Private Wealth Management, Risk Management background will be an advantage
• Good knowledge of various Private banking products including OTC, structured products, etc.
• Ability to work in a multi-function team & to establish credibility in front of colleagues and clients
• Excellent verbal and written communication and interpersonal skills
• Strong quantitative educational background
• Strong IT skills
• Proficient in English. Understanding of regional languages, such as Mandarin, Cantonese will be an added advantage.
DESIRED SKILLS (Optional):
• CDD/KYC, Risk, Product or Markets experience
• Previous work experience in a similar role within the business
University Degree in Finance or Statistics