Manager - Global FX Controllers Finance

Morgan Stanley
23 Aug 2017
20 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.
The Finance Division globally reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firms books and records, and by contributing to firm wide risk management and risk reduction. This division maintains relationships with Morgan Stanley?s various industry and government regulators, and also serves as the conduit of financial information to the outside investment community. Finance plays a critical role as advisor to Morgan Stanley's various businesses and its senior management team.

Team Profile:
Global Funding Controllers (GFC) are responsible for controlling and providing business support for the funding arms of the Firm and is part of the ISG Finance organization. Within London, GFC comprises of the following core groups: Bank Resource Management (BRM) controllers, Treasury Capital Markets (TCM) Controllers, and Liquidity & Funding Controllers (LFC). Pre 2008 crisis, funding was easy to obtain and not priced into trades due to ample liquidity in the markets. Post 2008, the landscape looks dramatically different where the economy and regulators have put a spotlight onto Funding and Liquidity making GFC both a focus and growth area. An opportunity is open in the Treasury FX Controllers in London, part of the Global Funding Control Group, is responsible for managing global foreign exchange exposure, at an entity level, arising from trading and non-trading activities across the Firm. Due to the significant risk to the Firm created by unhedged FX exposure, this team has a pivotal role in safeguarding the Firm's assets. The team's primary objective is to minimize revaluation P&L (transactional risk).
The team performs a range of functions including processing and validating daily hedge requirements and month end reconciliation and control work to validate hedges carried out. There is also scope for project and process improvement work in addition to ad hoc requests from the Corporate Treasury desk. The team has considerable interaction with Product Controllers, IT, Tax, Legal Entity Controllers, Corporate Treasury and our Treasury Controllers colleagues in Hong Kong, London and New York.

The role and skills desired:
An opportunity has arisen for a permanent manager role within the team. The successful individual will be responsible for the day to day management of the team reporting to the Vice President. The hedging processes follow both a daily and monthly cyclical process. Daily hedging captures all exposure that is booked in a currency different from the functional currency of the entity. Hedge trades are executed by either FX spot trades or forwards with NY FX desk via Corporate Treasury. An integral part of the hedging process involves ensuring the integrity of the source data, as part of this role you will have responsibility for an internal suite of controls that validates the hedging data.
Specific Responsibilities:
The role will include the following involvement and responsibilities:
- Reviewing the Consolidated Daily Hedging Instruction to Corporate Treasury to mitigate Transaction Currency Risk to the firm
- Working alongside Hedging and Controls Associate to ensure the integrity of the Daily Control Framework
- Maintaining strong relations with key stakeholders including Business Unit Controllers, Corporate Treasury, Legal Entity Controllers and Operations
- Provide support to wider controller group in relation to HERA CMI and Reval P&L related queries
- Month end substantiation and sign-off responsibilities within 3R?s system for Net Revenue and Balance Sheet Accounts on Treasury Cost Centre's
- Responsibility for preparing Reporting for Key Stakeholders including Regulatory Controllers, Business Unit Controllers and Senior Management within Treasury Capital Markets
- Management Reporting for Treasury Revaluation Currency BTR?s
- Support Senior Manager dealing with ad hoc requests from Corporate Treasury desk
This is not an exhaustive list of tasks, and responsibilities may change in line with the team and business needs.
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.

Skills required:
- The successful candidate should be able to demonstrate a rounded commercial approach to reporting and controllership, with proven skills in chasing issues through many layers to discover root causes
- Candidates for the role should be a qualified accountant (CA, ACCA, CIMA) and have relevant degree or equivalent experience
- Candidates should possess excellent Microsoft Excel skills and be proficient at summarising and presenting themes and results in a meaningful format
- Able to build good relationships with stakeholders across a variety of business and finance areas
- Candidates should be highly numerate with a close attention to detail
- Have the flexibility required to work in a dynamic environment under tight deadlines
The following personal attributes are important for this role:
- Confident
- Adaptable
- Team worker
- Strong communicator
- Well organised
- Strong verbal and written communication skills
- Solid analytical skills
- Strong sense of accountability and ownership
Skills desired:
- Relevant work experience in the financial services industry (Financial and Product Control, Treasury)
- Knowledge of financial products which are used in the financial services industry, particularly in FX Hedging
- Experience of working in a product control environment