Position Overview & Specifications
OTC FX Settlements Associate/Director
The FX Settlements team is divided into several teams based on function, offering a fantastic opportunity to learn a product front to back from a settlements perspective. Each individual team is responsible for controlling risk by managing relationships with clients and counterparties to ensure that high risk settlements are settled in a timely manner and any post-settlement issues or discrepancies are identified, escalated appropriately and resolved.
The employee will be expected to analyze and improve processes and avert risk. The team provides exposure to a multitude of financial products and will assist in establishing or further developing a career within Operations at Morgan Stanley.
This role is within the FX Settlements team, who are responsible for the settlement of foreign exchange cash, involving the exchange of funds both into and out of the Firm, working with various external and internal stakeholders at various levels. This role will offer individual extensive interaction opportunities across multiple groups within the Global FX division, and exposure to a diverse set of products across the FX market.
Primary responsibilities include, but are not limited to:
> Ability to demonstrate strong organizational skills with keen attention to detail.
> Act as an escalation point for settlement issues and discrepancies with external counterparties, sales, and the trading desk, to resolve cash fail receivables and trial balances.
> Investigate and resolve complex settlements through various means, including daily interaction with key stakeholders, including trading desks, sales desks and middle office groups to ensure prompt resolution.
> Provide excellent Client Service through gaining a robust understanding of FX clients and being proactive to meet their needs.
> Acting as a process owner and being accountable for all outstanding items.
> Developing and improving existing processes and reporting.
> Working as part of the global settlements team to assist with development, testing & implementation of internal system changes.
This is a highly intensive environment with opportunities to work closely with various groups. Due to the time-sensitive nature of the FX business, candidate should be prepared to occasionally work overtime, when necessary. The successful candidate will be required to gain an understanding of the broader responsibilities of FX Operations, life cycle of the various FX trade types and systems. They should strive to be the first point of contact for operational issues. They will work externally close with counterparty and broker operations personnel to identify trade discrepancies and internally with traders, schedulers, controllers, and IT personnel to resolve those issues. The successful candidate will have exposure to a wide range of functions in a complex and dynamic market. The ability to multi task and prioritize will be key, combined with management of critical day-to-day functions.
> Strong interpersonal and relationship management skills
> Strong analytical, organizational, and verbal and written communication skills
> Proven ability to work efficiently and accurately under pressure in a fast paced multi tasking environment
> Proactive, self-motivated and enjoy working in a challenging, fast paced environment.
Job Number:
3231338
POSTING DATE: Feb 26, 2023 PRIMARY LOCATION: Europe, Middle East, Africa-United Kingdom-United Kingdom-Glasgow EDUCATION LEVEL: Bachelor's Degree JOB: Other EMPLOYMENT TYPE: Full Time JOB LEVEL: DirectorDESCRIPTION
The OTC FX Settlements Team sits within the wider ISG Fixed Income Operations organization, and is responsible for all aspects of settlement for Foreign Exchange trades post-booking. The position requires daily interaction with clients, global sales and trading desks, middle office and IT teams internally.The FX Settlements team is divided into several teams based on function, offering a fantastic opportunity to learn a product front to back from a settlements perspective. Each individual team is responsible for controlling risk by managing relationships with clients and counterparties to ensure that high risk settlements are settled in a timely manner and any post-settlement issues or discrepancies are identified, escalated appropriately and resolved.
The employee will be expected to analyze and improve processes and avert risk. The team provides exposure to a multitude of financial products and will assist in establishing or further developing a career within Operations at Morgan Stanley.
This role is within the FX Settlements team, who are responsible for the settlement of foreign exchange cash, involving the exchange of funds both into and out of the Firm, working with various external and internal stakeholders at various levels. This role will offer individual extensive interaction opportunities across multiple groups within the Global FX division, and exposure to a diverse set of products across the FX market.
Primary responsibilities include, but are not limited to:
> Ability to demonstrate strong organizational skills with keen attention to detail.
> Act as an escalation point for settlement issues and discrepancies with external counterparties, sales, and the trading desk, to resolve cash fail receivables and trial balances.
> Investigate and resolve complex settlements through various means, including daily interaction with key stakeholders, including trading desks, sales desks and middle office groups to ensure prompt resolution.
> Provide excellent Client Service through gaining a robust understanding of FX clients and being proactive to meet their needs.
> Acting as a process owner and being accountable for all outstanding items.
> Developing and improving existing processes and reporting.
> Working as part of the global settlements team to assist with development, testing & implementation of internal system changes.
This is a highly intensive environment with opportunities to work closely with various groups. Due to the time-sensitive nature of the FX business, candidate should be prepared to occasionally work overtime, when necessary. The successful candidate will be required to gain an understanding of the broader responsibilities of FX Operations, life cycle of the various FX trade types and systems. They should strive to be the first point of contact for operational issues. They will work externally close with counterparty and broker operations personnel to identify trade discrepancies and internally with traders, schedulers, controllers, and IT personnel to resolve those issues. The successful candidate will have exposure to a wide range of functions in a complex and dynamic market. The ability to multi task and prioritize will be key, combined with management of critical day-to-day functions.
QUALIFICATIONS
> Bachelor's Degree desirable but not essential> Strong interpersonal and relationship management skills
> Strong analytical, organizational, and verbal and written communication skills
> Proven ability to work efficiently and accurately under pressure in a fast paced multi tasking environment
> Proactive, self-motivated and enjoy working in a challenging, fast paced environment.