E*Trade Reconciliations Associate – Wealth Management Operations

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

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

The qualified candidate should have knowledge of the financial services industry and will work closely with various levels of our organization to produce and oversee reconciliations and control functions for E*Trade’s Operations departments. The candidate will join a team responsible for ensuring the accuracy and integrity of the firm’s books and records to assist the respective departments in managing their risk as well as satisfying regulatory requirements. The team performs daily, weekly, monthly reconciliations and reports used to identify and escalate exceptions to responsible teams within Operations and the firm. The candidate will work towards identification of efficiencies and process improvements through daily responsibilities and various team initiatives.

E*TRADE, a member of the Morgan Stanley family of companies offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Flexible Spending Account or Health Savings Account, Life Insurance, Disability and other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays, 401(k) and financial wellness plans in addition to other special perks reserved for our employees. Please visit Employment benefits at E*TRADE Financial explore jobs (etradecareers.com) learn more about our benefit offerings.

Responsibilities

• Gain a comprehensive understanding of the trade flow, settlement, and cash movement for all business lines across the firm
• Produce daily, weekly, monthly reconciliations and reports to identify and escalate exceptions
• Oversight of daily systemic reconciliation including file import, matching logic and metric analysis of unresolved aged exceptions
• Work with business partners to analyze and implement solutions for process improvement and efficiency
• Liaise with technology, reporting and project management teams to deliver business requirements, system configuration, application testing and deployment efforts
• Partner with Audit, Compliance and Risk departments to ensure best practice methodologies are being followed firm wide
• Provide periodic reports to Operations Management and Regulatory Reporting team to attest compliance with SEA 15c3-3
• Ability to cross function & oversee all Control team obligations locally and with offshore teams

Qualifications

• Bachelor’s degree
• Ability to interpret quantitative and qualitative data to assist in process improvement exercises
• Perform functional obligations with a team driven mentality
• Experience with Microsoft Office, particularly Excel
• Strong written and verbal communication skills
• High level of professionalism, self-motivation, and sense of urgency
• Strong interpersonal skills / ability to develop relationships
• Work under time constraints and multi task with meticulous attention to details
• Working knowledge of reconciliation processing (Banking and Brokerage) including ability to research, schedule, analyze and present findings
• Reporting tools (e.g. SAP, SpotFire,Tableau, MS ACCESS)
• Experience with SQL and/or understanding of databases, data structures, multi-tier application design
• Agile Software Development Lifecycle
• Willingness to obtain Series 99 license
• Strong decision making, analytical and creative thinking skills

Role is Hybrid and will require in office attendance 3 days/week.

Expected base pay rates for the role will be between $55,000 and $85,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Posting Date

Jan 20, 2023

Primary Location

Americas-United States of America-New Jersey-Jersey City

Education Level

Bachelor’s Degree

Job

Other

Employment Type

Full Time

Job Level

Associate