IED, Execution Cost Manager, Associate/Vice President

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 Institutional Equity Division (IED) is a global leader in the origination, distribution and trading of equity, equity-linked and equity-derivative securities. The Firm’s equity Sales & Trading operations provide liquidity, distribute content, and create product solutions to help our clients generate alpha.

Role Description

The successful candidate will have an opportunity to work in the COO organization with a focus on managing the execution costs of the cash equity businesses. We are looking for self-motivated, proactive candidates who have strong and genuine interests in cash execution, cost management and equity market structure. The candidate will need good analytical skills and must be a team player, able to work effectively and collaborate with colleagues regionally and globally across the firm.

Qualified candidates will have a strong background in execution cost management and / or cash equity execution, business analysis, and cross-team coordination and communication. The successful candidate must be able to understand complex execution, clearing and settlement scenarios, data rules and logic, and be able to manage numerous simultaneous projects.

This is an opportunity to be part of market leading cash business that continues to evolve. producing innovative technology focused trading solutions for clients while looking to optimize the cost of execution.

Execution Cost Manager Responsibilities:

The primary role for this position is to ensure that the Cash Equity business is optimizing brokerage clearing and exchange (BC&E) fees across each of the major cost themes for principal and agency flow. The role responsibilities can be further described as:

• Understand the client and principal cash execution business front to back and its direct linkage to the BCE cost for the equity division
• Work closely with finance to build effective analysis, reporting and scenario tools to identify and prosecute cost reduction strategies
• Develop effective relationships with exchanges and clearing house to facilitate rate negotiations
• Build effective relationship with operations to optimize settlement efficiency and reduce associated frictional costs
• Coordinate with Finance and global peers to maintain effective governance and control over client billable
• Utilize a deep understanding of the European markets to spot opportunities for MS and clients to reduce execution, clearing and settlement costs.
• Build understanding of the evolving European market structure and consider how this will impact current and future costs to the business.
• Work across IED business lines to optimise execution cost management and share best practice between the business verticals.

Execution Cost Manager Skills:

At least 3 years relevant experience in finance, cost management or cash execution,

• Knowledge of cash execution front to back, including execution, clearing and settlement
• Experience in cost management, analysis and scenario planning
• Understanding of electronic and high touch trading platform
• Knowledge of European market structure, regulatory and compliance landscape
• Ability to successfully manage and prioritize numerous simultaneous large projects, small tasks and ad-hoc requests
• Ability to work independently and to drive projects to completion, while proactively ensuring project teams and relevant stakeholders are kept up to date and expectations properly managed
• Excellent oral and written communication skills. Must be able to succinctly articulate complex concepts
• Effective time management, relationship management, negotiation and prioritization skills

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.

Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.

Given the continued spread of COVID-19 (coronavirus), all interviews will be conducted by phone or virtual connection to protect our candidates and employees