Commodities Operations Trade Support Associate

Morgan Stanley
29 Aug 2017
19 Sep 2017
Contract Type
Company Profile
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 Operations division is both the first line of defence for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back. One of the largest divisions in the firm, Operations has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, we continually strive to improve while actively supporting the development of new businesses, structures and markets.

Team Profile
The London Commodities Trade Support team is 11 in size and in split into 2, one group focuses on the OTC activity, whilst the other deals with Listed exchange trading. The range of commodity products covered includes: emissions, precious metals, freight, coal and oil. Following the divestiture of the majority of the firm's physical commodity assets, most of this activity is financial (i.e. swaps, options and futures), although we do trade physical spot and fwds in gold, silver and emissions. Commodities S&T plans to re-enter European power and gas business purely on financial derivatives trading basis.

For structured business, whilst new business is being transitioned to TREND that'll be supported by Fixed Income TS, the existing notes and exotic options in commodities systems will continue to be supported by Commodity TSG until there is new NPA in the future

The team will be responsible for several key steps in the trade life cycle, although Trade Confirmation/Affirmation and Settlements have been utilitised with DPTO and SSBO respectively.

Primary Responsibilities
To ensure timely completion of daily reconciliation on listed, OTC, structured trades, inventory positions such as emissions, etc.
Work with Listed/Clearing teams to ensure all exchange breaks are fully resolved
To ensure all trade activity from the exchanges feed down into the various risk systems
For listed exchange activity, ensure all LCEs are performed (exercises, expiries etc.)
To ensure the timely fixing of prices on commodities from oil to freight to coal to various FX curves (mainly a month-end task).
To ensure appropriate activity is reported to the GTR and all reg reporting exceptions are resolved. Those that remain are annotated and escalated as appropriate.
To support new business initiatives in NPA pipeline
To review and complete the set up and maintenance of reference data for counterparties and trade related data
To work with other Operation areas- ie ORCC, Listed & Clearing, SSBO, together with colleagues in Trading Operations
To work with other Infrastructure areas- ie IT, Finance, Legal and Compliance.
Work with external Indian vendors
To understand the trade lifecycle, products, processes and systems, and to ensure risk controls are documented and implemented by the team on an ongoing basis as best practice.
To identify and implement continuous improvements in systems and processes to enhance controls and gain efficiencies
Skills Required
Experience dealing with Sales & Trading (demanding internal stakeholders)
An awareness of the current regulatory environment (EMIR, CFTC and MIFIDII)
Communication and risk awareness - ability to understand financial concepts, and communicate end to end lifecycle of a trade, risks and controls clearly and concisely at all levels
Numeracy and attention to detail - able to learn concepts quickly and maintain a strong focus on control and accuracy
Organizational skills and resilience - ability to handle pressure in high workload situations, prioritizing effectively and delivering against deadlines
Initiative - high level of self-motivation, ability to take responsibility for tasks and managing team workload, proactive attitude to learning and sharing the team's workload
Experience in commodities (OTC, Listed and Physical products) and/or derivatives is a plus
Ownership/Guardianship - Ability to take responsibility for tasks and issues and see them through to resolution.
Business product knowledge across all derivative products
Good understanding of the front to back processing i.e. trading, clearing & settlement in order to understand market developments
We expect that the likely candidates may have developed the necessary competencies in a similar role over a 3-5 year period.

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. *LI-EM2