FID Business Controls Unit (BCU) - Head of Credit and SPG Coverage

at  Morgan Stanley

FID Business Controls Unit (BCU) - Head of Credit and SPG Coverage
Job Number:

3256349
POSTING DATE: Jul 23, 2024
PRIMARY LOCATION: Americas-United States of America-New York-New York
JOB: Investment Banking/Sales/Trading/Research
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Executive Director

DESCRIPTION

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.
Department Profile
The Fixed Income Division (FID) is comprised of Interest Rate and FX, Credit, and Commodities. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets.
Business Control Unit (“BCU”) is a 1st line team within FID which covers several risk areas, including Legal and Regulatory Risk, Operational Risk, Reputational Risk and Conduct Risk.
The BCU includes various business focal leads who act as the primary interface for BCU and responsible for the oversight and management of that business as it relates to non-market risk activity. The business focal leads act as the 1st Line of defense with responsibility to identify, resolve and manage risk through rigorous and balanced challenge at a transactional, operational, and strategic level. The team is there to support business activity and strategic initiatives, ensuring this is done within framework set out by the Firm’s risk policies and governed by the respective governance forums. As part of this, the team work closely with colleagues across BCU and the 2nd line to ensure appropriate controls and processes are in place including implementation of new control and processes resulting from new regulation or new business initiatives/products.

Primary Responsibilities

• Reporting to the FID Head of BCU Americas, the candidate would be expected to undertake a wide range of duties, with a specific focus towards lending, new issue and trading transactions covering SPG, Corporate Credit and Muni products, often having to manage multiple tasks with frequent changes to priorities
• Be the primary BCU focal point for the covered businesses supporting the business in resolving and managing risks across sales and trading and providing proactive and balanced challenge to the business and 2nd line functions
• Work closely with the BCU teams across the Americas, EMEA, and APAC to ensure a coordinated approach of business support
• Manage a team overseeing the covered products

Transactional:

• Act as a key partner of the deal team to review new transactions and identify, challenge and resolve risks, including legal and regulatory risks, operational risks and potential conflicts of interest
• Own transactional / pre-trade governance which seeks to present and challenge bespoke/nuanced/complex transactions; participate in pre-trade lending governance as a quorum member
• Act as a conflicts manager and wall crossing manager

New Activity/Products:

• Partner with the Business in the development/implementation/assessment of new products, including managing the buildout of respective risk and control frameworks
• Support broader strategic initiatives and growth

Non-Financial Risk Management:

• Assist with risk identification and mitigation activities arising from normal day to day activity, market activity, operational events, regulatory changes by interfacing with 1st and 2nd line, including Desk Supervisors, Product COOs, Legal & Compliance, Operations, Technology
• Lead investigations into operational incidents working with other stakeholders in the team
• Coordinate responses and manage any remedial actions identified by compliance test checks, internal audit, regulators, and exchange venues
• Understand and manage the implementation of changes driven by new regulatory obligations
• Organize and host progress meetings and working groups with stakeholders
• Coordinating activities across multiple delivery work streams

Qualifications - External

• Previous Lending / Trading experience in a Financial or Legal environment
• A bachelor’s degree or equivalent (Law or Economics preferable)
• Good understanding of project management essential
• Excellent knowledge of Power point and MS Excel required
• Strong analytical / problem solving skills
• Excellent communication skills, verbal, and presentations
• Good attention to detail & organization skills

QUALIFICATIONS

Expected base pay rates for the role will be between $225,000 and $300,000 for Executive Director, at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
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)

• Reporting to the FID Head of BCU Americas, the candidate would be expected to undertake a wide range of duties, with a specific focus towards lending, new issue and trading transactions covering SPG, Corporate Credit and Muni products, often having to manage multiple tasks with frequent changes to priorities
• Be the primary BCU focal point for the covered businesses supporting the business in resolving and managing risks across sales and trading and providing proactive and balanced challenge to the business and 2nd line functions
• Work closely with the BCU teams across the Americas, EMEA, and APAC to ensure a coordinated approach of business support
• Manage a team overseeing the covered product