Vice President - Fund Services -FATCA/CRS (ISG Operations)
Fund Services – FATCA/CRS – Vice President
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.
This wholly owned subsidiary of Morgan Stanley administers over $300 billion of hedge fund assets. Using the firm’s proprietary, globally accessible technology platform, the business provides a full range of fund administration services, including daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services (MSFS) is supported by more than 875 professionals based in New York, London, Hong Kong, Dublin, Glasgow and Mumbai.
The U.S. Foreign Account Tax Compliance Act (FATCA), and Common Reporting Standard (CRS) are regulations that impose upon affected Financial Institutions a due diligence and reporting regime of their Account Holders to interested governments and tax authorities. Impacting hedge funds and their investors, the rules are part of a global effort to enforce international tax compliance and transparency. Over 100 countries participate in the two regimes and automatically exchange Account Holder information with each other annually.
The global FATCA/CRS Team specializes in and supports hedge fund clients with these regulations and related tax matters. FATCA/CRS Managers are responsible for the daily review of fund investor documentation for reasonableness, completeness, and compliance with the aforementioned rules regimes. FATCA/CRS Managers work with representatives in Investor Services to process documentation during client and investor onboarding and communicate deficiencies to investors. The FATCA/CRS Manager also serves as an escalation point for internal, client, or investor queries, and works directly with clients to assist them in fulfilling their filing and other obligations as needed. The team for this function is located in Manhattan and Westchester, New York and Mumbai, India.
Principle responsibilities include:
- Review FATCA/CRS documentation provided in connection with investor onboarding (i.e. IRS Forms W-9/W-8 and Self-Certifications) for completeness, reasonableness, and compliance with the regulations.
- Act as a primary contact point for assisting client funds and their investors with FATCA/CRS related queries and obligations.
- Apply the appropriate Account Holder classification to investors who have submitted valid documentation.
- Utilize MSFS software to draft standardized emails to investors noting deficiencies, errors, or omissions in their FATCA/CRS documentation.
- This role has particular responsibility for the second level review of activity entered by fellow team members.
- Supervision of FATCA/CRS data entry and operational personnel, including development of their FATCA/CRS knowledge.
FATCA/CRS Managers work as a member of a global team. Frequent interaction will include work with colleagues whose focus is on Fund Accounting, AML, and Investor Services.
- FATCA/CRS Managers will participate in various IT and Operational Projects. Contributions include:
- Identifying system enhancements that reduce operational risk, create operational efficiency, and improve customer service.
- Participating in key elements of the project life cycle (i.e. Specification, Testing and Operational Implementation).
- Participating in the conversion and review of records from other administrators.
Qualifications, experience, and skills needed:
- Extensive current experience working with FATCA/CRS.
- Bachelor’s degree.
- Experience working with Chapter 61 and Chapter 3 information reporting a plus.
- Client facing service experience.
- Knowledge of the financial services industry, particularly hedge funds.
- Strong analytical skills and high attention to detail.
- Strong written and verbal communication skills.
- Good team player and ability to work independently with little to no supervision, but also knows when to seek help and escalate issues, where necessary.
- Proven ability with using key financial systems and other IT tools.
- Very strong organizational and prioritization skills, particularly the ability to keep track of multiple open items at once.
- Interest in learning new regulations and assisting others in understanding them.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize 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 talentFor further information, and to apply, please visit our website via the “Apply” button below.