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.
Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.
Alternative Investment (AI) Operations supports the operational processing for ensuring clients who look to invest in the funds offered by MSSB Alternative Investments Group are able to do so in accordance with the terms and time frames set forth by the fund. Similarly, the AI Operations group supports ensuring clients who look to redeem out of or transfer their AI position do so in accordance with the funds cutoff. The products offered are Hedge Funds, Funds of Funds, Exchange Funds, Private Equity, Real-estate Funds as well as Custom Portfolio of funds.
The individual in this role is responsible for ensuring all monthly valuations received from the Fund and/or Fund Administrator are updated on their Wealth Management statement as well as ensuring all their subscriptions, redemptions and transfers are processed accurately and in accordance with fund cutoffs.
The core daily processes supported for Alternative Investments:
Operational Support Responsibilities:
-Maintain relations with Funds as pertains to Operations, i.e. Fund launches -Provide premier operational services to high profile FAs.
- Process Client Subscriptions into funds
- Process Client Redemptions out of funds
- Process capital calls from client accounts to the Funds
- Update client statements for position valuations received from the fund
- Process Financial Advisor Compensation & fees
- Position transfers into/out of firm as well as across accounts
- Apply distribution monies received from the funds to the client accounts
- Reconcile firm accounts
- Reconcile all client positions & valuations
- Reconcile Financial Advisor Compensation
- Reconcile client distribution and redemption proceeds
- Prepare month end reports for accounting
- Prepare Key-Risk- Indicator metrics
Requirements for role:
- 7-10 years of experience in the financial services industry
- Proficient in the Microsoft suite of products (Excel, PowerPoint, Word, Access)
- Excellent written and verbal communication skills
- Excellent attention to detail and follow-up
- Ability to thrive in a fast paced and changing environment
A little about us:
Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services.