Regulatory Capital and Accounting Policy Advisor, Manager
August 9, 2018
London, United Kingdom
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.
An opportunity exists to join the Global Advisory & Policy ('GAP') team within Finance in London. This team is an independent regulatory & accounting advice and review function for the US, UK and, to a lesser extent, other regions globally. It provides centralised expertise for financial regulatory & accounting matters.
The role will functionally sit within the Regulatory Policy team within GAP but the candidate may be expected to work on both accounting and regulatory matters as required. Given the continued high profile of regulation, both in Europe and globally, Regulatory policy is a strategically important area.
The Regulatory policy team is a key point of contact for any regulatory related issues. This will result in exposure at the highest levels across corporate reporting and all business units, with close involvement in transaction activity. The Regulatory Policy team has a highly visible role within the organisation and has regular contact with senior management within fixed income, equity and investment banking divisions. The team has close liaison with credit risk and market risk areas of the firm in relation to the firm's approach to various aspects of VaR and the exposure and rating methodologies used within credit risk. The team also support Treasury, Liquidity & Funding Controllers ('LFC') and Liquidity Risk Department ('LRD') with liquidity related regulation and reporting issues.
1. Evolving Regulatory agenda - Run the Evolving Regulations communications process. The team has primary responsibility for identifying new or evolving regulations. This role will play a key part in that process:
· Monitor and capture new regulatory publications
· Prepare communications on evolving regulations for key stakeholders
· Support development of new strategic process, including extension to other jurisdictions.
- Liaison with other functions across Morgan Stanley who play a similar role e.g. Government relations, Legal & Compliance, Risk etc. - Support and engage in wider team work in reviewing and communicating on new regulations. e.g. finalisation of Basel III, implementation of these standards in Europe (via CRR), other evolving European legislation. - Co-ordinate EBA Q&A review process.
2. Regulatory policy Development & Implementation
- Involvement in developing Morgan Stanley policy and interpretations relating to Capital and Liquidity requirements. - Focus initially would be on regulatory liquidity requirements, but with the opportunity to be involved in a wide range of topics. - This involves liaising with the appropriate people across Morgan Stanley in order to develop a Morgan Stanley position and influence and assist with the policy work being undertaken by trade associations, regulators and European bodies. - Provide advice to other functions responsible for implementing policy conclusions. - Active involvement with industry working groups (e.g. AFME and ISDA), as appropriate.
3. New Business Initiatives
- Performing an advisory service for the Business Units on specific transaction and business related issues in order to ensure regulatory requirements met.
- Involvement in the business and product reviews undertaken by the team to provide assurance that relevant regulatory requirements are being met. - Continuously working to ensure we take advantage of efficiencies.
5. Project Work
- Involvement in a diverse range of project work, including implementation of new regulatory requirements, the setting up of new regulated entities globally, applications to the PRA. - Provide support to the review of historic liquidity interpretations
The candidate should have an understanding of the regulatory environment in which banks operate, including the role of Basel in setting international standards.
While detailed knowledge of key regulations in Europe, such as the Capital Requirements Regulation and the requirements such regulations impose e.g., Liquidity Coverage Ratio, Net Stable Funding Ratio etc, would be beneficial, it is not essential. Candidates should however have a strong interest in developing knowledge in this area.
Candidates would ideally have experience in a Regulatory control / Product control function of a financial institution or have worked in a similar function, with exposure to a range of asset classes and businesses.
CA/CPA/ACCA or equivalent would be beneficial but again not essential.
The candidate will need to be prepared to work in a challenging environment and be comfortable communicating with people of all levels and experience. Strong writing and oral communication skills are essential. They will need to be self-motivated, approachable, able to absorb technical information and eager to both learn and coach. The candidate will be able to balance well the guardianship and client service responsibilities and have a strong appreciation of franchise risk.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.