MORGAN STANLEY OPERATIONS CO-OP PROGRAM
The Operations Co-op Program is a paid, full-time internship designed to provide a complete experience and serve as a pipeline into our full-time Analyst Program. We provide students with challenging six month assignments, giving us the opportunity to assess their skills and contributions.
The internship will provide interns with a thorough overview of our industry, and the challenges and opportunities one can expect from a Morgan Stanley career. Interns will work closely with colleagues to process complex transactions, solve operational problems, respond to business issues and client needs, assist in risk management, conduct revenue analysis and participate in firm reengineering projects. The program includes an orientation to the firm, presentations that provide a broad understanding of the organization, senior speaker series, networking opportunities, and on the job training. Interns are also assigned peer advisors to aid their smooth transition into the organization and provide support in their day-to-day responsibilities.
QUALIFICATIONS
Consideration for the Operations Co-op Program requires the pursuance of an undergraduate degree with a minimum cumulative GPA of 3.0. Strong candidates will also possess excellent leadership, interpersonal, and communication skills. All majors are encouraged to apply. Students are also required to be completing the co-op for credit.
SELECTION PROCESS
Selected applicants typically go through two rounds of interviews. The first round normally consists of one, face-to-face or phone interview. The final round interview, also known as our assessment center, usually includes two one-on-one interviews, and a group activity.
Placements are communicated prior to the start of the program and are based upon business needs and feedback throughout the interview process. The Operations Co-op Program is scheduled to begin early January 2011.
HOW TO APPLY
Opportunities are available in Baltimore, MD.
Interested candidates must complete both of the following:
• Apply through UMBCworks (for more details, email moettel@umbc.edu)
• Apply through the Morgan Stanley careers website at the following link: http://www.morganstanley.com/about/careers/recruiting/apply.html
More info, including a Morgan Stanley Operations Department Overview, is after the jump!
IS OPERATIONS RIGHT FOR YOU?
A checklist to help you decide if you have the skills and temperament for this area.
• You have an interest in financial services
• Your analytical and problem-solving skills enable you to quickly understand and evaluate complex information
• You have the ability to work on challenging assignments in a dynamic environment.
• You enjoy managing projects and evaluating and improving processes.
• You are able to synthesize information, distill relevant facts, and reach logical conclusions
• You thrive in an environment where you manage multiple responsibilities and projects efficiently and effectively
• You are committed, meticulous, and pay attention to detail.
• You have strong verbal and written communication skills
• You are a team player and have a strong client focus
MORGAN STANLEY OVERVIEW
Morgan Stanley has earned a worldwide reputation for the excellence of its advice and execution in financial markets. With over 600 offices in 33 countries, the firm is truly global – and a market leader in the US, Europe and Asia as well as in emerging markets. Morgan Stanley’s success rests on the talents and passion of our people, who share a common set of values and bring excellence and integrity to everything they do.
OPERATIONS AT MORGAN STANLEY
Operations’ primary mission is to provide control and oversight for post-execution trade processing from trade entry through settlements and custody in a commercial, sustainable manner. Operations is also responsible for proprietary and customer transactions of both primary and secondary trading in listed and over-the-counter transactions in commodities, equity and fixed income securities, and structured derivatives. These businesses are supported out of offices throughout the Americas, EMEA and Asia, which demonstrates the global nature of the business.
The value proposition that Operations offers to Morgan Stanley is based upon:
- Control: The management of front-to-back operational processes for all products is the Firm's and Clients' first line of defense. Knowing the rules and making them work with precision every day is the essence of what Operations does.
- Commercial: Everything Operations does is a function of making the economic engine of the Firm work. Operations professionals understand the businesses we support, and every aspect of our work is aimed at making the businesses profitable.
- People: Operations can only exercise Control and create Commercial opportunity by ensuring that we have the right people, with the right skills and training, in the right jobs.
Operations supports all Sales & Trading products from the time a trade is entered until it reaches the general ledger. Core responsibilities include: trade capture & execution, trade matching & confirmation, clearing & settling trades, asset servicing, custody & control, operational risk management and client relationship management & support.
OPERATIONS GROUPS CORE RESPONSIBILITIES
Securities Processing Operations (SPO) represents Morgan Stanley's combined Global Equity, Financing and Fixed Income Cash Operations groups as a single operating unit that provides an integrated platform across these high volume businesses. These global teams are responsible for managing Operations relationships with the various trading desks they support. Products supported include Foreign Exchange, Stock Loans and Repos for Financing and Cash products including corporate/government bonds, mortgage-backed securities and listed equities.
Commodities Operations provides end-to-end operational processing, performance metrics, control management, supports new product / deal diligence, and partners with technology to deliver ongoing process and systems enhancements for the global commodities business unit. Morgan Stanley is active in the energy, metals and agricultural markets. The range of products covered is one of the broadest in the industry, offering clients a "one stop shop” for their risk management needs.
Derivative Operations is a global organization with over 450 employees located in eight countries supporting the Credit Derivatives, Interest Rate Derivatives and Equity OTC Derivatives businesses. Derivative Operations supports the full lifecycle of a trade including Trade Capture and Execution, Trade Matching and Confirmation, Clearing and Settling Trades, Asset Servicing and Custody and Control. In addition, Derivative Operations covers non-trade related activities such as Client Relationship Management, Risk Management, Business Management and Project Management.
Listed Derivatives Operations provides global transaction support for listed options and futures, including trade processing, verification, reconciliation and reporting. The Operations team has a strong partnership with the Client Listed Derivatives Business Unit, participating in every phase of the client life cycle from marketing to ongoing relationship management.
Multi Asset Client Services (MACS) provides predominantly client-facing services to institutions, hedge funds, middle market participants and wealthy individual investors. MACS works to establish a strong operational relationship with these clients and acts as a first source of advice, information and escalation. The department provides both trade date and settlement operational services for fixed income and equity clients, collateral management and price indications and multifaceted prime brokerage support. MACS also develops and manages operations infrastructure for the firm’s country offices and its network of agent banks around the world, via the Global Network Management team.
Operations Risk & Control (OpsRC) performs various independent functions to ensure integrity and transparency over the ISG sub-ledger. This global, Operations-wide organization has five primary functional teams: Core Services, Balance Sheet Control, Regulatory Reporting, ISG Ops Risk and Client Confidentiality/Entitlements. Collectively, the team focuses on implementing appropriate internal controls, business processes, and internal management reporting / analyses to ensure ISG Operations is able to mitigate operational risk and fulfill regulatory reporting requirements
Cross-Product Services (CPS) is a global organization with over 600 employees located in eight countries supporting the post-trade activities of Equities and Fixed Income Securities as well as Over-the-Counter (OTC) Derivatives. CPS services multiple product areas providing greater client service and consistent risk management to counterparts. CPS is comprised of three functions: The Cash Management team provides liquidity management services designed to manage risk and reduce cost through optimal funding strategies. Processing of entitlements and mandatory and voluntary corporate action events impacting the Firm's clients are processed within the Position Services team. The Cash and Over-the-Counter (OTC) Settlements teams are responsible for the delivery & receipt of cash and securities on settlement date resulting from Firm and client trading activity. CPS works closely with other organizations in Operations and IT to ensure we continuously provide high quality and efficient services to the various institutional businesses we support.
Global Projects Group (GPG) manages projects and programs that span all product lines and functions of ISG Operations while setting best practices. Operations and IT partner on process re-engineering projects in order to support growing businesses; these project portfolios are tracked and managed in GPG in order to provide centralized governance. GPG also develops and maintains key metrics and management reporting in order to ensure Operations is providing efficiency and scale across all products.
Global Banking Operations focuses on Global Loans Servicing and Bank Processing responsibilities, which encompass support functions in Corporate Loans, Mortgage Loans and Bank Deposits. Team members who support the Loan products, as well as Bank Deposits function, have daily interaction with Business Units, Sales and Trading Desks, Borrowers, Lenders, Bond Investors, Legal Counsel, and Bank Agents. Our recent expansion in Banking Operations will continue to promote growth in other cities and markets increasing the need for global connectivity.