Full Time

Private Wealth Management Asia, Account Management Team, CIP Team – Associate / Manager

Posted 4 weeks ago
Application ends: November 20, 2021
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Job Description

Leveraging Strong Connectivity To Morgan Stanley’s Renowned Investment Bank, Morgan Stanley Private Wealth Management Asia Delivers The Global Resources, Product Expertise And Personalized Service Needed To Address The Complex Challenges Of Managing Significant Wealth

Morgan Stanley has been serving ultra-high net worth individuals, corporates and asset owners in Asia for over 30 years.

Flow Products

Fund Investments

Alternatives & Privates

Financing Solutions

Strategy Advisory

Wealth Planning

Capital Markets Access

Cash Management

Why Morgan Stanley?

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, our employees serve clients worldwide including corporations, governments, institutions and individuals.

Building on over 30 years of delivering first-class business in a first-class way, Morgan Stanley helps Asia wealth management clients succeed by delivering the Firm’s global reach, product leadership and investment expertise. To reinforce our commitment to the region, we have established Morgan Stanley Bank Asia Limited, a licensed bank in Hong Kong and a wholesale bank in Singapore, to conduct private wealth management business in Asia.

You’ll find that the competitive compensation packages with benefits, the established career paths and our culture and values all make Morgan Stanley a great place to develop your career.

Morgan Stanley is an Equal Opportunity Employer. Learn more at:

https://www.morganstanley.com/people-opportunities/eeo.

Job Description

Morgan Stanley Private Wealth Management provides highly customized financial advice, investment solutions and brokerage services to ultra-high net-worth individuals, families and foundations. As Morgan Stanley’s premier service for individuals and families with significant means, we specialize in providing our clients with custom-tailored financial solutions and a level of sophistication and access to expertise and investments typically reserved for large corporations, financial institutions and governments.

Within Private Wealth Management the Account Management Team (AMT) is a first line control function that manages KYC information and documentation of PWM clients in accordance with the Firm’s global standards and local regulatory requirements as stipulated by Legal & Compliance. AMT manages and supports the Business with client onboarding, handling of KYC changes in clients’ circumstances, periodic reviews and ongoing client data maintenance.

The AMT team in HK covers China, Hong Kong, Taiwan, Thailand and Philippines and the client base consists of individual and joint accounts, personal holding companies, PHCs owned by Trust as well as a growing client base of Non-Traditional PWM clients such as listed companies and subsidiaries, operating vehicles, Funds, SPVs, etc.

The ideal candidate would have experience working in Compliance / AML or has experience in client onboarding and in-depth knowledge of client identification and documentation requirements across various client types.

Responsibilities will vary upon the experience of the successful candidate and include but not limited to:

Review the client identification and related documents provided by Sales in accordance with the Client Identification Program and provide advice in relation to the requirements. Ensure accurate CIP / KYC data entry in the Client Account Maintenance and Onboarding Tool. Review the Corporate Security background report for any additional CIP relevant information.

Process cases and deliver results with good quality in a timely manner to enhance the client onboarding experience. Communicate timely and effectively with Sales on missing documentation and inconsistent information.

Flag any concerns to AMT supervisors and escalate issues/exceptions to relevant function units for further discussion. Liaise with various stakeholders such as GFC, Compliance, and Sales/Branch Management as needed.

Proactively engage with stakeholders such as AMT onboarding team, Compliance and Operations to establish good relationships and keep abreast of latest standards and requirements.

Prepare status updates and management information. Contribute to process enhancement initiatives and update procedural documents as needed.

Knowledge/Skills

  • Robust knowledge of client identification and documentation requirements
  • Organized and strong attention to detail
  • Thorough knowledge of account structures of varying complexity including PHC, trust, fund, listed company, etc. is a plus
  • Ability to work under pressure and handle volume spikes and prioritize work including ad-hoc requests to meet Business demands in a timely manner
  • Good understanding of red flags and AML risks
  • Good analytical skills and curious to investigate complex structures
  • Self-motivated and enthusiastic
  • Fluent in both spoken and written English and Chinese (Cantonese / Mandarin)
  • Excellent verbal and written communication skills
  • Able to work independently and as part of a team

Education And/or Experience

  • Bachelor’s degree or equivalent education or experience
  • 3-6 years relevant working experience in the financial services industry
  • Ideally with previous experience in client onboarding or CIP periodic review, AML/Compliance within a top-tier bank

Posting Date

Sep 17, 2021

Primary Location

Non-Japan Asia-Hong Kong-Hong Kong-Hong Kong

Education Level

Bachelor’s Degree

Job

Private Banking

Employment Type

Full Time

Job Level

Associate