ABOUT Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
ABOUT Parametric
Parametric is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley. We partner with advisors, institutions, and consultants to build portfolios focused on what's important to them and their clients. A leader in custom solutions for more than 30 years, we help investors access efficient market exposures, solve implementation challenges, and design multi-asset portfolios that respond to their evolving needs. We also offer systematic alpha and alternative strategies to complement clients' core holdings.
This role is part of Parametric's hybrid working model, which includes working in the office 2-3 days a week and choosing to work remotely or in the office the remaining days of the week.
ABOUT The Team
The operations department consists of a team of professionals that focuses on the overall operations of Parametric. This group ensures the production process is complete from start to finish and lines up with the goals and functions of other departments within the firm. Examples include supervising, organizing and completing daily production, measuring and evaluating daily workload, and providing services to ensure the business runs as smoothly and effectively as possible.
ABOUT ThE ROLE
This position will manage, coordinate, and direct the daily operations of all reconciliation activity: client holdings, cash, transactions and tax lot data. This position requires a hands-on leader with the ability to manage multiple deadlines, provide excellent customer service, and motivate staff at all levels of the department. The ideal candidate will have strong attention to detail and sense of urgency. This is a volume-intensive, data-driven role overseeing the administration and daily reconciliation of 30 million positions and 50 million tax lots.
This position oversees a large team (around 30) consisting of 5 leaders that each manage individual teams for the daily processes. The person in this role must feel comfortable with demonstrating best practices in work at all times, managing expectations and accountability, and work closely with other department heads to ensure that deliverables are met.
PRIMARY RESPONSIBILITIES
- Demonstrates strong leadership and supervisory skills and an extensive knowledge of client portfolio reconciliation processes.
- Maintains an excellent knowledge of finance and accounting principles, practices, and controls.
- Resolves issues quickly with a sense of urgency; ability to see the forest through the trees and be able to see and understand downstream effects/risks, especially when reviewing large sets of data.
- Responsible for managing small- and large-scale projects within the department.
- Implement and oversee operational processes with regard to new relationships and product launches.
- Reviews daily, weekly and monthly exceptions related to operations business areas; ensures that formal audit controls are in place and maintained.
- Must be able to prioritize initiatives and staff workloads during times of peak activity.
- Coaches and mentors' staff; ensures that the department is adequately staffed on a day-to-day basis, and that all employees are trained, and cross-trained as needed
- Must thrive in managing multiple projects, deadlines, client inquiries, etc. in a fast-paced environment.
- Must be able to delegate or allocate workloads appropriately across the team.
- Reviews and recommends new methods and procedures to make daily operations in the department more efficient/effective.
- Point of escalation for internal and external client
- Manages and identifies challenge areas and executes plans for improvement.
- Implements changes and new processes in the department.
- Communicates with other managers, directors, external and internal staff to coordinate new initiatives or to address client needs.
- Responsible for allocating department resources, hiring staff and performance reviews.
- Defines business requirements related to technology needs for both internal and external vendors.
Qualifications:
Job Requirements
- Bachelor's (4yr) degree w/ concentration in finance or accounting
- 10 years previous experience in Financial Service
- At least two years at a Vice President or equivalent role
- Proven experience as a leader
- Strong project management skill
- Well organized, self-starter with the ability to analyze information and support the staff.
- Ability to plan, prioritize, and meet tight deadlines.
- APX, and reconciliation system experience a plu
- Exceptional written and verbal communication skill
- Must be proficient in MS Outlook and handle large volumes of email correspondence.
- Experience with multicurrency investment accounting preferred.
- Ability to function successfully in ambiguous conditions.
- Prior experience with broker/dealer and institutional account opening, management and inner workings a plus.
- Experience with tax lot reconciliation and accounting relief methodology
Parametric believes each member of our organization makes a significant contribution to our success. That contribution should not be limited by the assigned responsibilities. Therefore, this job description is designed to outline primary duties and qualifications. It is our expectation that every member of our team will offer his/her/their services wherever and whenever necessary to ensure the success of our client services.
Salary range for the position: $140,000 - $300,000/Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees. It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law. Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).