Senior Manager, PWM Client Onboarding, Wealth Management

Morgan Stanley
Sydney, Australia
22 Feb 2023
24 Feb 2023
Job Function
Wealth Management
Industry Sector
Finance - General
Employment Type
Full Time
About The Division

Morgan Stanley Wealth Management is one of the largest wealth management firms in the world, helping our clients pursue their goals at every stage of life. Our commitment to our clients forms the bedrock of everything we do, from the importance we place on integrity to our dedication to individuals. We are dedicated to building, preserving, and managing the wealth of our clients through exclusive access to the firm's vast resources.

Our Australian Wealth Management business services individuals, families and institutions investing in both domestic and international markets, including direct equity, fixed income and derivative investments, financial planning, margin lending and managed funds

About The Team

The Account Management Team within the Morgan Stanley Australia Wealth Management business is responsible for the life cycle of client accounts encompassing Client Onboarding, Maintenance, Remediation and Regulation activities.

The Client Onboarding Specialist role will support the Client Onboarding stream within The Account Management Team. The role will be part of a team who support both local and overseas teams relating to the onboarding and ongoing maintenance of client accounts, client documentation and data integrity. The candidate should have sound knowledge and experience in account opening and KYC/AML regulation and requirements; in a similar role within the wealth management sector.

Key Accountabilities

• Review and approve client account documentation; understand and enforce current local and global AML KYC requirements, ensuring proper due diligence to KYC rules for new client onboarding or updates to existing client static data
• Process new account documentation and ensure that the account opening process satisfies the client's needs with exceptional service
• Subject Matter Expert (SME) of the account opening process
• Subject Matter Expert (SME) on local and global AML/KYC standards and policies and key contact for related queries and initiatives
• Liaise with Front Office staff, Operations, Management, Risk, Compliance and GFC/ AML to facilitate smooth onboarding process
• Answer queries on all aspects of account onboarding, provide guidance to advisers and support staff on complex matters
• Facilitate screening requirements and assess customers, to identify possible Money Laundering, Terrorist Financing, Tax Evasion and other risks
• Develop a network of internal stakeholders to leverage in order to provide proactive solutions and/or answer complex queries for Clients, Financial Advisers and Client Service Associates
• Proactively escalate issues to Management, Risk, Compliance, GFC/ AML, Front Office staff in a timely manner to minimise potential liabilities to the business; work collaboratively with the relevant teams for resolution
• Participate and facilitate cross training as required, with particular focus on driving process consistency and knowledge share across locations
• Share best practices and benchmarks across MSWM Australia branches and global counterparts
• Proactively seek opportunities to improve processes, drive initiatives for improving efficiency and reducing risk
• Involvement in ad-hoc projects and initiatives as requested by management
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