PBO- Associate

Morgan Stanley•Baltimore, MD

1d•$51,000 - $82,500

About The Position

The PBO Balance and Control team operates independently to perform reconciliation, quality control, regulatory monitoring, and reporting across the Private Banking Operations Department. It partners with processing teams, including Lending and Banking, and performs daily, weekly, and monthly reconciliations to identify open and aged exceptions requiring remediation by account owners. The team prepares reports, dashboards, and metrics, and analyzes report exceptions. It also supports internal and external audit requests and Regulatory (FOCUS) reporting. The role contributes to ensuring complete books and records and accurate controls and procedures across departments for products affecting client and firm relationships, as well as associated regulatory, financial, and reputational risks. The position involves preparing and distributing reports and performance metrics, coordinating exception remediation and escalation, monitoring operational controls performed by offshore teams, supporting audits, and identifying and mitigating risk. It also calls for analysis and process improvement, including reengineering manual workflows and developing Excel macros.

Requirements

Intermediate working knowledge of Outlook, Word, and Excel.
Ability to create, modify, and troubleshoot Excel macros.
Working knowledge of SharePoint.
Proven problem-resolution ability and demonstrated initiative.
Excellent organizational and time-management skills for a high-pressure, fast-paced environment.
Professional oral and written communication skills.
Superior attention to detail.
Strong research, analytical, and math skills.
Ability to prioritize and multitask.
Creative thinking to improve manual workflow processes.

Nice To Haves

VBA and SQL capabilities for process automation are strongly preferred.
Experience with reconciliations is preferred.
Bachelor’s degree, preferably in business or accounting.

Responsibilities

Prepare, monitor, analyze, and distribute daily reports.
Coordinate reports and correspondence for exception items requiring remediation and/or escalation.
Work with product lines to ensure operational and procedural requirements are followed.
Prepare and distribute daily, weekly, monthly, or quarterly key performance metrics.
Oversee control functions performed by offshore teams to ensure accuracy and completeness.
Ensure escalation procedures are followed.
Provide necessary information to auditors during internal and external examinations.
Identify existing and potential risks and work with other areas to minimize or eliminate them.
Reengineer manual workflow processes, including through macro development.

Benefits

Medical insurance
Prescription drug coverage
Dental insurance
Vision insurance
Health Savings Account
Dependent Day Care Savings Account
Life insurance
Disability and other insurance plans
Paid time off, including sick leave consistent with state and local law
Parental leave
20 vacation days annually
10 paid holidays
401(k)
Short- and long-term disability
Potential eligibility for annual discretionary incentive compensation and a business-unit incentive compensation plan, which may include a discretionary bonus