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Retirement Services Associate - Wealth Management Operations
•30 days ago
| Hours | Full-time, Part-time |
|---|---|
| Location | Baltimore, Maryland |
About this job
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.
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.
Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.
The open requisition is for an Morgan Stanley Retirement Operations Analyst. The analyst will be in a full time role, reporting to a Director of Retirement Operations. The individual should be self-motivated, creative and proactive, to work effectively and efficiently in a fast paced work environment for the IRA Processing and Maintenance function.
Responsibilities:
- Process death beneficiary payments and divorce transfer requests after validating necessary documentation and confirming appropriate payees.
- Perform account maintenance transactions including Price and Position Updates, Worthless Securities process, Capital Calls and IRA Support.
- Process tax reporting adjustments to Traditional, Roth, SIMPLE, SEP, and SAR-SEP IRA accounts.
- Provide guidance to branches regarding all IRA and Qualified Plan inquiries
- Review/approve outgoing journals and checks for IRA accounts and Qualified Retirement Plans. Checks/journals must be verified based on the account numbers and transactions details.
- Assist in special projects periodically throughout the year
Duties may include: Processing incoming and outgoing paperwork including mail and facsimiles for the Non Traditional Investment Outside Valuation Mailing initiative; support client service associates and operational personnel; checking inbound client documents either from the Service Portal of faxes for accuracy, notating all activities on the account, and submitting accurate paperwork for final processing to Service Associates; make outbound contact both in writing and verbally with clients concerning paperwork. Handle the preparation of spread sheets regarding various activities within the unit.
Skills Required
- Strong working knowledge of Individual Retirement Arrangements and Qualified Retirement Plans.
- Strong attention to detail and analytical skills
- Ability to multitask and produce in a fast-paced environment
- First class client service experience
- College level education
- 2 years of experience in financial industry, preferably in IRA or Qualified Plan
- Strong problem solving skills
- Expertise in using MS Office Suite: Excel, MS Word, etc. required
- Excellent written and verbal communication skills
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.
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.
Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.
The open requisition is for an Morgan Stanley Retirement Operations Analyst. The analyst will be in a full time role, reporting to a Director of Retirement Operations. The individual should be self-motivated, creative and proactive, to work effectively and efficiently in a fast paced work environment for the IRA Processing and Maintenance function.
Responsibilities:
- Process death beneficiary payments and divorce transfer requests after validating necessary documentation and confirming appropriate payees.
- Perform account maintenance transactions including Price and Position Updates, Worthless Securities process, Capital Calls and IRA Support.
- Process tax reporting adjustments to Traditional, Roth, SIMPLE, SEP, and SAR-SEP IRA accounts.
- Provide guidance to branches regarding all IRA and Qualified Plan inquiries
- Review/approve outgoing journals and checks for IRA accounts and Qualified Retirement Plans. Checks/journals must be verified based on the account numbers and transactions details.
- Assist in special projects periodically throughout the year
Duties may include: Processing incoming and outgoing paperwork including mail and facsimiles for the Non Traditional Investment Outside Valuation Mailing initiative; support client service associates and operational personnel; checking inbound client documents either from the Service Portal of faxes for accuracy, notating all activities on the account, and submitting accurate paperwork for final processing to Service Associates; make outbound contact both in writing and verbally with clients concerning paperwork. Handle the preparation of spread sheets regarding various activities within the unit.
Skills Required
- Strong working knowledge of Individual Retirement Arrangements and Qualified Retirement Plans.
- Strong attention to detail and analytical skills
- Ability to multitask and produce in a fast-paced environment
- First class client service experience
- College level education
- 2 years of experience in financial industry, preferably in IRA or Qualified Plan
- Strong problem solving skills
- Expertise in using MS Office Suite: Excel, MS Word, etc. required
- Excellent written and verbal communication skills