Nonqualified Deferred Compensation – Client Service Manager (Recordkeeping Service), Associate

Morgan Stanley•Boston, MA

3d•$80,000 - $100,000

About The Position

Organizational Overview: 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 prosper. Morgan Stanley at Work is a division within Morgan Stanley Wealth Management comprised of Nonqualified Deferred Compensation Solutions, Shareworks by Morgan Stanley Equity Compensation, and Financial Wellness. Our division offers in-depth knowledge and resources focused on providing a full range of solutions that help address various institutional and employee financial challenges and complexities. This business area is also where some of the biggest acquisitions internal to financial services are housed (ex: ETrade, Solium) and hence, is a key growth area for the Firm. Morgan Stanley at Work provides a comprehensive offering to Nonqualified Deferred Compensation (NQDC) plan sponsors and executive/plan participants. NQDC offers oversight and recommendations to plan sponsors in the design and administration of NQDC plans, including funding optimization strategies. Morgan Stanley at Work also creates NQDC education materials and provides financial wellness through Financial Advisors to assist executives with implementing holistic and tax efficient wealth management strategies across their assets. Position Summary: The NQDC junior Client Service Manager will collaborate with senior Client Service Managers to assist them with existing and new NQDC clients to ensure their experience with Morgan Stanley at Work’s NQDC offer meets and exceeds their expectations. They may work directly with clients on the day-to-day administration of their NQ plans. The function will look at the aggregate policies and processes and drive uniformity and scalability where possible, as well as support management with the longer-term strategic or regulatory driven projects. Candidate is expected to engage with other Morgan Stanley at Work entities to review and leverage existing processes and procedures where they may apply to NQ servicing. The candidate will eventually be expected to provide subject matter expertise for NQDC plans to various groups, including Morgan Stanley branch office staff, service desks, etc.

Requirements

1-3 years of relevant financial services industry or related experience with a focus on Nonqualified Deferred Compensation plans
Strong analytical and critical thinking skills
Able to work in fast paced environment to meet client deliverable time-frames
Extreme attention to detail
Customer service oriented
Excellent verbal and written communication skills
Life insurance product knowledge with COLI knowledge a plus
Strong project management and communication skills
Highly organized and able to work on multiple projects across functional groups.
Advanced knowledge of Microsoft Office suite necessary; including Word, Excel, and PowerPoint
Strong sense of ownership, accountability, and entrepreneurial spirit
Positive contributor to our team’s inclusive culture
FINRA licensing may be a future requirement for this role

Responsibilities

Assist senior client service managers with duties to implement, track, monitor, and maintain nonqualified benefit plan accounts, fund lineups, distributions, on-going enrollments, etc. for assigned clients.
Assist senior client service managers with daily transactional processes with COLI carriers and/or Trustees (i.e., asset rebalancing).
Partner with Plan Implementation/Onboarding team to implement new clients.
Partner with Client Account Consultant, Design & Analysis, COLI teams to ensure delivery of end-to-end service to assigned clients.
Identify opportunities to scale and/or streamline existing processes.
Assist senior account manages to ensure they provide timely and accurate delivery of client reporting, distributions, etc.
Develop and maintain full understanding of day-to-day workflow processes required for assigned clients, including documenting workflow processes.
Work with Morgan Stanley at Work consultants and Financial Advisors to conduct annual enrollment meetings for assigned clients, including updating enrollment materials and communications.
Assist team manager with project management tracking and documentation.
Assist senior client service managers with the creation of desktop service manuals for clients.
Maintain client records in accordance with firm defined processes and standards.