Finance & Controls Associate

Morgan Stanley’s Glasgow office employs more than 1,300 staff across Operations, Technology, Legal and Compliance, Internal Audit, Fund Services and Finance. Due to our growing business, we have a demand for career minded people to join our teams. Our opportunities offer unrivalled scope for progression and training within a fast paced, meritocratic, and constantly changing environment. Morgan Stanley pride themselves on maintaining a culture which champions diversity, an inclusive environment for all, recognition, and an opportunity to give back to our communities through various local charity partnerships. The office is located centrally and enjoys the additional benefits of an onsite gym and restaurant.

Department Profile:

The Finance Division reports to the Chief Financial Officer and consists of some 2500 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firm's 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 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.

The Financial Control Group (FCG) is responsible for overseeing the accounting and financial and regulatory reporting for the Firm. FCG prepares external financial reports for public filings and regulators. For internal reporting FCG, along with Financial Planning and Analysis (FPA), summarizes, plans, and forecasts the organization's financial position, including income statements, balance sheets, and analyses of future revenues, expenses and earnings. FCG is comprised of Business Unit Controllers, Infrastructure Controllers, Accounting, Regulatory and Reporting groups, Tax and Valuation Review.

Job Summary

The role will reside within the Finance Division, under the Finance Risk and Assurance function that supports the Morgan Stanley 17a-5 Broker Dealer Compliance program and overall Finance Risk agenda. SEA 17a-5 is a significant regulatory requirement, which requires management to document, assess and make representations about the effectiveness of its internal control over compliance. Participation in this requires understanding of internal control activities, interpretation of the regulation and coordination of activities across the division.

The broader Finance Risk agenda includes, but is not limited to, governance of the Global End User Computing procedures, Risk & Control Self-Assessment (RCSA) governance and reporting, FDIC Improvement Act (FDICIA) testing, SOX Compliance Program, and other operational risk related topics. This dynamic position offers the candidate an exceptional opportunity to gain exposure and learn various processes across the Finance division.

The ideal candidate possesses banking/financial services experience, with a focus on internal controls. Additionally, the candidate should have knowledge of project management, process flow mapping, design and documentation of controls, risk assessment and the ability to interact effectively with all levels of management via superior communication (written and oral) skills.

Primary Responsibilities:

Responsibilities Include but are not limited to:

• Identify, document, and assess key controls across Finance and Operations, as well as work with the business areas to institute proper controls and remediation strategies
• Communicate findings and recommendations to management, determine root causes, obtain management's action plan for remediation in a timely manner and track findings through resolution
• Develop and manage working relationships with key stakeholders, including Risk Managers and Business Process owners
• Assist in the development and rollout of scoping methodology and testing strategy for the 17a-5 compliance program.
• Track metrics and coordinate reporting to project working groups, steering committees, senior management, and external auditors
• Document control deficiencies which are clear, concise and provide value to management
• Comfortable with documenting front-to-back process and product flows
• Able to identify gaps between implemented controls and key risks and recommenced remediation actions
• Analyse any changes to internal business processes and/or accounting standards to assess the potential risks and impacts to controls in place
• Assist in various ad-hoc and broader Finance Risk agenda topics
• Develop and maintain productive working relationships within a global team.

• Bachelor’s degree in finance or Accounting with experience in financial services, banking, or Big 4 consulting
• Newly or part qualified accountant
• Knowledge of the internal control framework (specifically COSO) and a solid understanding of the concepts of control design and operational efficiency
• Proven understanding of control testing methodologies and processes
• Ability to assist with documentation of Finance process controls to support 17a-5 compliance audits, including performing walkthroughs and developing process flow charts
• Ability to understand and document banking product concepts
• Excellent analytical, technical, and problem-solving skills with strong attention to detail
• Strong oral and written communication skills, with the ability to communicate with key stakeholders and Senior Management
• Proficiency with data management, End User Computing Tools (spreadsheets and databases) and other standard computing applications (PowerPoint and Word)
• Intellectual curiosity with a focus on information sharing
• Strong relationship building skills
• Flexibility to constantly learn and adapt in a fast-paced environment
• Time management and organizational skills enabling the achievement of tight deadlines on multiple concurrent tasks
• Knowledge of 17a-5 requirements