OVERVIEW OF THE ROLE
The group interacts with several other groups within the firm on a daily basis such as Stock Loan, Financial and Tax Controllers, IPB and PB, and PWM. Given the cyclical nature of our volumes, extra focus is required during the peak months, which increases the demands, placed on us by our clients and in the main the role can be split into the following functions and tasks:
• Proxy Voting - The successful candidate will have responsibility for ensuring accurate set up & capture of new Proxy events as well as collating and submitting voting instructions to our agent. This part of the role requires the individual to have a high attention to detail and very organized to be able to perform the task at hand while may be under pressure with high volume and time constraints.
• Deadlines – The deadline team is one of the riskiest team in Position Services where they will process all Voluntary Corporate Action events for the 17 Asia markets that we look after. This part of the role requires the individual to be accurate, methodical, organized and communicative as they could liaise with any area of the business to resolve elections issues and position reconciliations.
• Japan FID Processing – This requires much focus, diligence, accuracy and self-motivation to ensure that risk each payment is released on time. Processing is quiet manual so someone with keen eyes and attention to details is a must. The team is responsible for releasing Japan Fixed Income product payments to the relevant stakeholders.
• Risk Management – The reconciliation work that is conducted is high volume in addition to high value. The individual must work closely with their line management in prioritization of key breaks & queries to be resolved and identify breaks that may cause losses within their daily role.
• Ad Hoc Queries – Dealing with ad hoc requests from all CSG areas/ trading areas (equity and stock lending) / Private Wealth Management groups / Financial Controllers as and when they arise.
The Hong Kong Position Services group is primarily an asset servicing team responsible for managing the timely and accurate processing of all Corporate Action events which impacts security positions held by our clients and trading desks. The group consists of the following teams: Research, Deadlines, Payments, Japanese Coupons (Principal & Interest), CSG and Risk Control.
The aim of Position Services include but are not limited to:
• Protecting the firm and its clients against the risks associated with a corporate action, dividend and proxy event processing. These risks may be financial, regulatory, franchise, market or operational.
• Be the single source of high quality global corporate action information to the firm
• Provide exceptional processing services to the firm’s Global businesses in all aspects of Asset Servicing as measured by our quality, cost effectiveness and proactive support
• Take a leadership role in industry forums to seek solutions to common problems and issues within the world of Asset Servicing.
Hong Kong Position Services currently has 8 staff and rolls up to the SSBO division within Operations. The Corporate actions team are responsible for processing and managing the risks associated with all Asia Pacific corporate action events.
TEAM STRUCTURE – brief overview
The Asia Corporate Actions team consists of 25 people split amongst 2 locations into 5 sub teams; corporate action research team, deadlines processing team, payment and control team, client service team as well as FID team.
The combined group is responsible for performing the reconciliation and releasing of all corporate actions events covered within our market remit. The team is also responsible for reconciling the event post-pay date and ensuring that all client, institutional, stock lending and external depot positions are correctly booked on the books and records of the firm.
The team interacts with several other groups within Morgan Stanley daily such as Stock Loan, Client Services, Financial Controllers, Private Wealth Management, International Prime Brokerage and Prime Brokerage.
The department is established in Hong and Mumbai and has developed itself into a highly efficient and successful operation, providing first class service to our clients. This has been achieved through strong focus on control, commerciality and people. We are looking for dynamic and hard-working candidates to continue the positive progression of the department.
• Strong Communication skills - English
• Proactive team player
• Ability to grasp detailed concepts quickly
• Highly committed & self-motivated with professional outlook
• High regard for attention to detail, accuracy & quality
• Strong organizational skills, to be able to use time well and prioritize tasks effectively.
• Ability to adapt to the changing needs of the department
• Ability to drive, as well as being able to effectively and quickly adapt to change
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