About the position
Morgan Stanley (MS) is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. The WM network includes almost 16,000 Financial Advisors and Private Wealth Advisors - one of the world's largest networks of Financial Advisors (FAs). MS has expanded its suite of world-class banking and lending products exclusively for FAs and their clients. In addition to our comprehensive financial services, which include brokerage, investment advisory, financial and wealth planning, annuities, insurance and retirement, Morgan Stanley has enhanced its lending, mortgage, cash management and deposit capabilities. By combining our lending financial services business with private banking products built specifically to service the needs of Financial Advisors and their clients, we can tailor banking and lending solutions to client needs. 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 ethics. Morgan Stanley can provide a superior foundation for building a professional career, a place for people to learn, achieve, and grow. A philosophy that balances personal lifestyles, perspectives, and needs in an important part of our culture. The Tailored Lending (TL) Group within Morgan Stanley Wealth Management Private Banking Group is seeking an Asset Manager to help grow and manage our Ultra High New Worth (UHNW) lending portfolio serving UHNW clients (generally clients with a minimum net worth of at least $50 million) with a focus on loans secured by private stock, hedge funds, private equity, and aircrafts as well as unsecured loans.
Responsibilities
- Managing modifications, renewals and annual reviews of existing credit facilities across a diverse portfolio of loans.
- Preparing clear and concise credit memos covering transaction structure, an assessment of obligor credit profile and financial statements, analysis of collateral, identification of risks and mitigants and recommendation for Credit Risk review and approval.
- Monitoring receipt of information from clients as required by loan documentation.
- Performing periodic financial covenant and collateral valuation testing.
- Working with other internal groups including Financial Advisors, Private Bankers, Loan Operations, Compliance, and Legal.
- Maintaining data integrity within internal systems.
- Ensuring accurate and timely updates of loan portfolio metrics, risk ratings and reports.
- Developing and implementing remedial action plans for impaired credits in partnership with Credit Risk.
- Engaging in ad hoc projects to improve quality and effectiveness of reporting, tracking and overall portfolio management.
Requirements
- Bachelor's degree required
- Minimum 7+ years of lending and credit experience in private banking
- Detail oriented with exceptional analytical skills and ability to understand complex financial statements and loan structures
- Significant accounting and finance knowledge
- Knowledge and familiarity with legal documentation for private banking clients
- Ability to meet deadlines and multi-task in a fast-paced environment
- High level of focus on work quality and attention to detail
- Ability to collaborate effectively with related parties across the firm
Benefits
- Expected base pay rates for the role will be between $110,000 and $185,000 per year at the commencement of employment.
- Total compensation package may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
