Executive Director, North American Head of Collateral Management Operations - Institutional Securities Group
New York , New York
October 20, 2017
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.

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.

Institutional Securities Group (ISG) Product Operations encompasses two functionally aligned organizations. The first, Trading & Client Operations, provides Operations functions in direct support of activity executed by Institutional Sales &Trading. The second, Clearing Operations, provides Operations functions in direct support for activity cleared by Morgan Stanley on behalf of our clients in Prime Brokerage, Listed Derivatives, and OTC Derivatives. The broad organization partners closely with Sales and Trading to develop and implement new products and services as well as drive efficiency and reduce risk in our processes. At all times we are focused on delivering quality service to clients both internal and external. ISG Product Operations partners closely with Shared Services and Banking Operations as well as Branch Operations and Operations Risk & Control to deliver a connected 'front to back' view of operations to ISG Sales and Trading.

The ISG OTC Derivative Collateral Operations are comprised of Collateral Management and Indications, including Margin Processing; The current organization consists of 30 employees and contingents workers located in both New York and Baltimore, as well as utilization of a vendor workforce located in Mumbai. The team is responsible for the issuance, reporting and curing of margin exposure for OTC Derivatives and Secured Financing Products.


The North American (NA) Head of Collateral Operations provides leadership and management to ensure successful delivery of business strategy. Head of Collateral Management is responsible for the active management of margin call issuance, settlements and dispute reporting under the Global Uncleared Margin Rules, in accordance with CFTC and EMIR regulations, as well as defined best practices of firm policy.

This individual will play an active role in the department's 2018 Change The Bank (CTB) agenda, which is largely driven around scalability and readiness for future phases of margin reform under rules for un-cleared OTC derivative transactions. This requires strong leadership at the ED level.

The NA Head of Collateral Operations will partner with senior members of BRM and BURM on various industry, client, and market initiatives. This includes margin rule implementation, various regulatory requests, new product proposals, and general day-to-day business escalation.

Role will have material amount of interaction with key Firm focus clients. This includes a partnership with the Operations Client Relationship Management team on client visits, scorecard review, and general industry updates as they pertain to the bi lateral collateral management business.

This role provides oversight, management and mitigation across the following key risk categories:

Process Risk: through adherence with relevant policies and procedures, process re-engineering and monitoring of key performance and risk indicators
People Risk: through review of workload versus resource and the support of recruitment, retention and training of staff and focus on attrition, capacity and depth chart metrics.
Technology and Security Risk: through review of technology plant stability, turnover process management and focus on entitlements, segregation of duties and general data protection.
Regulatory Risk: through control of regulatory reporting, management of regulatory communications and review of current regulation to ensure continued compliance
Supplier Management Risk: through appropriate oversight of vendors and outsource providers
Business Continuity Risk: through appropriate planning and effective management of issues as they arise
Upcoming Regulatory Change Risk: through review of upcoming regulatory requirements and effective delivery of compliance programs.

Role Expectations

The role holder should take reasonable steps to meet the following expectations (directly or via appropriate delegation). These are in addition to any expectations outlined within divisional competency frameworks (where applicable):


- Deliver performance consistent with agreed personal and business goals
- Act in accordance with and promote the Firm's values, culture, ethics and conduct expectations
- Maintain standards of technical and/ or product knowledge as needed to fulfill the requirements of the role.

Systems and Controls

- Identify key risks and/or challenges associated with delivering the department's objectives. Develop approaches for managing, monitoring and/or mitigating these risks and challenges.
- Understand the relevant systems and controls utilized (including maintaining relevant knowledge of IT systems). Ensure that such systems and controls are assessed on a periodic basis and enhanced as appropriate.
- Adhere to Morgan Stanley Group's policies and procedures (including BU/ Function-specific policies and procedures).

Leadership and Management

- Where you delegate aspects of your role, taking into account the delegate's capacity, competence and knowledge, ensure that the delegate understands his or her delegation responsibilities. Follow up on delegated tasks as appropriate (including meeting with delegates on a periodic basis to monitor performance).
- Ensure that team members receive appropriate training on Firm policies and procedures applicable to their activities.
- Promote professional development and continuous improvement amongst staff
- Review and monitor the performance of staff within your supervisory remit, including through the development of appropriate metrics/data.
- Take clear and prompt action in relation to any performance or behavior of staff that does not meet the Firm expectations. Provide continuous constructive feedback to direct reports. Ensure that effective feedback is being provided throughout to the individuals within the team.
- Work with your Senior Manager to develop effective metrics and escalation protocols to demonstrate the appropriate discharge of delegated responsibilities.

Client and Stakeholder Relationships

- Establish constructive relationships within the Firm.
- Communicate in a manner consistent with the Firm's culture, values and ethics.
- Provide for the protection of the Firm's reputation.

- 10 years of experience in financial industry
- Track record of collateral management experience, understanding of ISDA CSA and upcoming UMR regulations.
- Excellence in multi-faceted, multi-level communication style and language.
- Strong people management skills. Experience in driving of staff progression and development.
- Skilled at stakeholder engagement, including internal Business partners, External Clients and IT partners.
- Bachelor's degree required
- Conscientious in seeing issues to a thorough conclusion and to the satisfaction of all parties.
- Collaboration and teamwork skills and experience, including strong interpersonal skills
- Excellent client service and communication skills and the ability to interact with colleagues at all levels.
- Prioritization and effective time management skills.
- Problem solving through initiative and tenacity and ability to multi-task and grasp new concepts quickly.
- Ability to work under pressure and achieve results, whilst maintaining a professional, friendly and client focused approach.
- Self-motivated and resilient.
- Demonstrated change agent capability.

A little about us:
Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services.

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