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Job Opening details:-
Company Name :- Morgan Stanley
Position Name :- Associate- Credit and Market Risk Reconciliations
Company Location :- Mumbai, Maharashtra
Job Category :- Jobs in Pune
Full Job Description :-
Associate- Credit and Market Risk Reconciliations
Job Number: 3205079
POSTING DATE: Mar 24, 2022
PRIMARY LOCATION: Non-Japan Asia-India-Maharashtra-Mumbai (MSA)
EDUCATION LEVEL: Bachelor’s Degree
JOB: Other
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Associate
DESCRIPTION
The Credit & Market Risk Operations team is responsible for providing Proof and Control for Counterparty and Market Risk data to the Credit & Market Risk Department, Global Standards and Disclosures and Regulatory Controllers.
It is a Global Team and the Mumbai team will be responsible for supervising and overseeing Credit and Market Risk reconciliations performed by our 3rd party vendor, located in Chennai & Nagpur. In addition, the team is responsible for assisting with escalation of issues to appropriate contacts and maintaining control over the Credit & Market Risk Operations processes.
The successful applicant will work closely with the vendor management group and vendor to help ensure that vendor provides quality service as per the agreed terms and conditions of the contract.
The candidate will operate as a member within a team of individuals working together on a shared workload whilst reporting into a Team Manager. The candidate will be expected to organize the workload of the team and to be able to contribute to supervising work performed by the team. The candidate will be expected to analyze and improve processes, identify and manage risk and guide junior members of the team. As such communication and organizational skills as well as attention to detail and a readiness to escalate issues with a sense of urgency are of importance.
The successful candidate will have the following responsibilities:
Review exceptions/breaks and the quality of research conducted by vendor and provide relevant feedback where necessary.Participate in Weekly Risk Meeting to review all outstanding risk issues with vendor.Assist and train the staff at vendor in exceptional processing cases, if necessary.Perform various intra-day & end of day control checks on occasional basis to ensure that vendor delivers quality output.Assist staff at vendor to perform root cause analysis and elimination of issues at source.Identify risk issues, escalate where appropriate and provide assistance in resolving.Ensure upward and peer communication of developments and issues.Review changes suggested by vendor related to process, documentation, etc. and approve by following the proper change management process.Perform various reconciliation functions for those processes retained within the Control Group.Ensure the team-s SLAs are met and, where possible, exceededActively seeking out opportunities to improve the teams control framework and ensuring controls are carried out in as efficient a manner as possibleEnsuring existing procedures are documented, kept current and complied withParticipate in testing to protect process from impacts of system/booking changesDeveloping and maintaining relationships with key stakeholders and business partnersBuild an understanding of our process and how this links to our clients requirements and the regulatory framework.Pro-actively communicate exceptions / issues within our processes which may impact our clients but are out with our immediate scope of reporting.Provide periodic updates on project deliverables to team managementMust involve in project deliverables as per set deadlinesProvide status updates on a regular intervals to senior management and project governance boardParticipate in weekly / monthly risk meetings with key internal stakeholders, providing updates on outstanding issues
In addition to day-to-day responsibilities, the team has a number of opportunities to get involved in ad hoc projects and process improvement work, including a current change project to migrate the system utilised for daily reconciliations and reporting.
Given the nature of the function, these responsibilities are not exhaustive and may change to support business requirements.
QUALIFICATIONS
Skills required
Proven analytical and problem solving skills, alongside the ability to assimilate and learn quicklyExcellent verbal and written communication abilitiesSuperb attention to detail, accuracy & qualityStrong time management and task prioritisation skills. Willing to work additional hours to ensure all deliverables are performed within required timescalesStrong sense of urgency, accountability and ownershipFocus on guardianship, ensuring that issues are identified, escalated, resolved and reported on a timely basisA positive outlook, energy and enthusiasm. Is a self-starter who takes individual ownership for work quality and improvement. Leads by examples working with drive and determinationAbility to work well under pressure, lending control and order to a difficult or pressurised situationAbility to absorb information and learns quicklyInnovation and creative skills, challenges the existing processes and status quo.Excellent inter-personal skills
Skills desired
The following skills would be advantageous, but not essential, for candidates applying for this role.
Knowledge of Market Risk Theory and ConceptsKnowledge of Fixed Income, Equity & Commodities ProductsKnowledge of Firm Trading, Operations and Finance Systems
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