Compliance Control Group - Associate/Manager

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Morgan Stanley
  • 14 Nov 18

See job description for details

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 EMEA Compliance Department is a service-oriented department which provides guidance and advice to all business and support staff at the Firm, including Sales & Trading, Research, Investment Banking, Finance, Administration and Operational staff.

The Department provides general transactional guidance and advice to Business Units and other staff, implements compliance policies as required, and provides training. It also undertakes surveillance activities and utilises exception reports to monitor and, where appropriate, investigate Firm, customer and employee trading activity. The Department is also called upon to render advice on legal requirements; the rules and regulations of statutory and SROs, exchanges, and other bodies; and Firm policies and procedures.

Team Profile
The Control Group is responsible for monitoring the Firm’s Information Barriers, policies and procedures implemented to maintain said Information Barriers and pre-clearance of certain business activities that may present potential conflicts of interest. The Research & Investment Banking coverage team within the group is primarily responsible for the review of Research, chaperoning and gatekeeping communications between Research and the Private Side as well as personal account trade pre-clearances and the maintenance of the Firm’s Watch and Restricted Lists.

Day-to-day responsibilities of the members of the Control Group Research and Investment Banking Coverage include, but are not limited to:
• Ongoing Watch and Restricted List maintenance, including necessary interactions with private side deal team members or other relevant LCD or business unit contacts.
• Documentation and relevant notifications under the Firm’s Wall Crossing policies and procedures.
• Review of Fixed Income and Equity Research against the Firm’s Watch and Restricted List for compliance with relevant securities laws and with internal policies, such as the Firm’s M&A Research Policy.
• Chaperoning and gatekeeping of permissible communications between Research and the Private Side under the Global Research Settlement and relevant internal policies and procedures.
• Employee trade pre-clearances for business units or individuals subject to trade pre-clearance with the Control Group due to their private side, Above-the-Wall or Over-the-Wall status.

Primary Responsibilities
a. Information Barriers/Conflict Management
Ensure compliance with procedures designed to prevent conflicts of interest between Investment Banking and Sales & Trading, and Research activities conducted by the Firm. Closely monitor status of the Firm's Investment Banking (including Capital Markets) projects and maintain Watch List and Restricted List (and related matters);

b. Advice and Interpretation
Provide advice and interpretation of Morgan Stanley’s policies and regulatory requirements, particularly relating to Restricted List, communications between Research and Investment Banking, Employee Trading, and working with internal and external lawyers, providing advice on Takeover Code, US, UK and other laws and regulations.

c. Other
(i) participate in regional and global system and IT development projects aimed at enhancing the Control Group’s surveillance program;
(ii) participate in audits and Annual Compliance Review as required;
(iii) update existing procedures and develop new policies on an ongoing basis;
(iv) assist in the enhancement of existing processes and work to develop new controls for oversight of Control Group processes
(v) Provide supervisory review for sensitive research and act as a control check on other work items
(vi) participate in training to business units; and
(vii) liaise with business risk management teams and others in global compliance teams as required.
d. Hours of Control Group Coverage

Given the range of business units that the Control Group supports and the operational criticality of its services, the Control Group operates a shift system ensuring there is coverage from EMEA based staff from 7am to 7.00pm. These hours are managed through a shift structure which all team members participate in, and as with any business, coverage is also determined by team resource and workflow levels. In addition, the Control Group also offers a minimum level of critical weekend coverage to resolve urgent business related issues.

Primary Contacts
Due to the diverse and widespread nature of the team’s role, the team members are in close constant contact with other staff from Legal and Compliance and various business units. Interaction can often be with very senior members of staff. The Firm runs a global Control Group and there is regular contact with staff in Hong Kong and New York.

The successful candidate will report to the EMEA Control Group Manager who reports into the EMEA Head of Private Side and Research Compliance. Training needs for the individual would be reviewed regularly.


Skills required
• University graduate or equivalent degree (in business, accounting or law ideally)
• The candidate will already be operating at Associate/Manager level and would be expected to have recent Control Group experience;
• Familiarity with general UK and US compliance issues and relevant laws and regulations, e.g. US Securities Act and the UK Financial Services Act. Particular experience with insider dealing and Information Barrier issues, Market Abuse, Financial Promotion, Code of Market Conduct and applicable laws and regulations
• Solid working knowledge of relevant product areas (e.g. Research, Investment Banking and Capital Markets, Sales & Trading ) plus a good working knowledge of the main regulatory areas of focus for Control Group (e.g. Chinese Walls, Insider Dealing & Market Abuse, US Research Settlement, LTOP, MAD etc.)
• Professionally mature and articulate
• Good analytical and numerical skills
• Good communication skills in order to present views to senior management and to explain technical requirements
• Ability to remain focused under pressure, identify and set priorities for others, perform multiple tasks simultaneously
• Able to develop strong relations with business units
• Able to provide supervision of other staff and have experience of providing feedback and developing other team members
• Experience of identifying, evaluating and implementing improvements that either increase the performance of the CG or improve risk management
• Able to work both as a team player as well as independently

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-FH1