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Morgan Stanley Private Wealth Management Asia is an integrated business within Institutional Securities. We provide highly personalized, best-in-class investment advice, execution services and wealth management and banking solutions to Ultra High Net Worth individuals and families across the region.
The position available is to lead the Account Management Team (AMT) in Singapore and be responsible for new account onboarding and ongoing account maintenance for Morgan Stanley Private Wealth Management Asia. This role reports locally into the Singapore Branch Manager and regionally into the Hong Kong Head of AMT. The AMT team in Singapore consists of 3 to 4 persons.
The Singapore AMT team is integral to the business strategic objectives; supporting coverage of Greater China, South Asia, Indonesia, Philippines and Thailand and a client base that consists of traditional private banking clients as well as an expanding non-traditional client base including funds, subsidiaries of listed companies and operating vehicles.
The role also includes involvement in various ad-hoc projects to improve the client onboarding and maintenance experience for clients, sales and other functions involved.
The AMT team is responsible for the following:
Review new account documentation and onboarding tool submission.
Communicate timely and effectively with Sales to clarify data, documentation and information where required;
Review the Corporate Security report for Negative News, Source of Wealth (SOW) corroboration and Total Net Worth substantiation.
Communicate with the Sales team to obtain sufficient SOW evidence, details and justification behind Negative News;
Ensure that the client's profile as provided by Sales is clear, comprehensive and structured in a manner to facilitate functional sign off;
Liaise with AML/Compliance to flag any concerns or exceptions for further review and discussion;
Present Clients' profiles to the Client On-boarding Committee meetings for final approval;
Ensure account opening documentation and relevant approval records are retained following defined procedures and monitor the receipt of any outstanding documentation within required timeframes;
Continuous engagement with Sales teams to share and educate KYC and AML related guidance/learning points with the objective to improve the standard and quality of KYC and client due diligence across PWM
Manage numerous account maintenance processes such as Trigger events, IPQ affirmation and periodic review, SCG periodic review and AML periodic review.
Knowledge of account structures of various complexity, including personal holding companies, trusts. Knowledge of funds, SPVs, foundations, etc. a plus Knowledge of CIP/AML requirements for onboarding a plus
Fluent in both spoken and written English and Chinese (Mandarin) as the role will support clients in North Asia. Excellent verbal and written communication skills
Strong leadership and management skills. Works efficiently in fast-paced environment Organized, analytical and detail-orientated Self-motivated and enthusiastic Proactive team player with keen interest in private banking industry
Education and/or Experience:
Bachelor's degree required or equivalent education or experience 6-9 years plus relevant working experience in the financial services industry. Ideally with previous experience in running an onboarding team at a top-tier bank with exposure to entity structures or has AML / Compliance experience
Internal Number: 5680140
About Morgan Stanley
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