Morgan Stanley at Work - Nonqualified Deferred Compensation – COLI Insurance Services - Vice President
POSTING DATE: Aug 2, 2024
PRIMARY LOCATION: Americas-United States of America-Colorado-Denver
OTHER LOCATIONS: Americas-United States of America-Georgia-Alpharetta, Americas-United States of America-Utah-Sandy, Americas-United States of America-New York-Purchase, Americas-United States of America-Utah-South Jordan, Americas-United States of America-Massachusetts-Boston
EDUCATION LEVEL: Bachelor's Degree
JOB: Wealth Management
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Vice President
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 prosper.
Morgan Stanley at Work is a division within Morgan Stanley Wealth Management comprised of Retirement & Nonqualified Deferred Compensation Solutions, Shareworks by Morgan Stanley Equity Compensation, and Financial Wellness. Our division offers in-depth knowledge and resources focused on providing a full range of solutions that help address various institutional and employee financial challenges and complexities. This business area is also where some of the biggest acquisitions internal to financial services are housed (ex: E*Trade, Solium) and hence, is a key growth area for the Firm.
Morgan Stanley at Work’s Retirement & Deferred Compensation Solutions is a comprehensive offering designed to help companies and their employees navigate saving for their retirement. Our products and services are designed to reduce financial stress and empower all constituents to plan, prepare for, and reach their financial goals through digital and human engagement. Our objective is to drive growth and serve our customers across all client segments through a start-up oriented and innovative/data-driven approach, while at the same time treating our clients with utmost respect and promoting a culture of honesty and transparency.
Morgan Stanley at Work provides a comprehensive offering to Nonqualified Deferred Compensation (NQDC) plan sponsors and executive/plan participants. NQDC offers oversight and recommendations to plan sponsors in the design and administration of NQDC plans, including funding optimization strategies. Morgan Stanley at Work also creates NQDC education materials and provide financial wellness through Financial Advisors to assist executives with implementing holistic and tax efficient wealth management strategies across their assets.
Position Summary:
The NQDC COLI Insurance Services, VP role will perform day-to-day business processes associated with the placement of life insurance policies and the ongoing management of our existing Corporate Owned Life Insurance (COLI) book of business. This individual will proactively manage their individual caseload and work closely with internal and external stakeholders to develop efficient implementation timelines. The role will work closely with Financial Advisors, Clients, Trustees, and Insurance Carriers. This position will play a vital role in the growth of the team by helping establish, maintain, and document our business processes that govern this product offering. The candidate will serve as a subject matter expert for the NQDC COLI business.
Responsibilities include, but are not limited to:
- Provide superior customer service to our Client and Advisors
- Independently manage the insurance placement and broker of record change processes for assigned casework
- Partner with vendors and third parties to establish, define, and document business processes associated with Corporate Owned Life Insurance
- Develop and manage team resources and training materials
- Serve as an internal resource to the Deferred Compensation and Home Office Teams as it relates to COLI Insurance
- Work closely with the COLI Business Manager to identify and articulate operational needs.
- Identify and propose solutions to risk issues and new business initiatives by working with various partners within the organization including product, technology, service, and sales
- Work with key stakeholders to identify Firm solutions that support business unit needs
- Provide transparency and reporting to key stakeholders
- Perform various other administrative duties on behalf of the Deferred Compensation Home Office and Branch (such as writing policies and procedures, forms creation, product approval).
- Maintain a focus on scaling of business processes for future growth
- Become the Subject Matter Expert as it relates to all internal systems and processes associated with Corporate-Owned Life Insurance
- Proactively suggest improvements to the NQDC COLI product offering
Required Experience, Skills, and Qualifications:
- Bachelors' degree required. Minimum of 5 years of experience in insurance, financial services, FinTech, project management, consulting, or other related fields
- Prior insurance experience, preferred
- Working knowledge of Morgan Stanley branch procedures, account opening processes, and field facing systems is helpful
- Strong interpersonal and process management skills
- High level of attention to detail, with excellent written and verbal communication skills
- Proven ability to manage the delivery and execution of a wide range of tasks and initiatives
- Proven ability to manage multiple projects and priorities
- Proven experience developing partnerships with and successfully coordinating across various business and functional stakeholders
- Ability to lead and influence cross-functional teams where there is no direct reporting chain
- Strong written and verbal communications skills, ability to interact at all levels of the organization and tailor messages appropriately
- Strong presentation skills, including ability to create polished PowerPoint presentations for various levels of management
- Independent self-starter who can manage multiple activities with aggressive deadlines
- Eagerness to learn the business and understand detailed technical requirements
- Clear and confident communicator
- Advanced knowledge of Microsoft Office suite is necessary; including Word, Excel, and PowerPoint.
- Advanced knowledge of Adobe Acrobat Pro is necessary
- Strong sense of ownership, accountability, and entrepreneurial spirit
- Ability to manage ambiguity and bring focus with recommendations on solving tactical and strategic challenges
- Positive contributor to our team’s inclusive culture
- Insurance and Annuities licensing will be required for this role
- FINRA licensing may be a future requirement as well.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Salary range for the position: [$105,000 - $180,000/] Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and X Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings. The application window is expected to close (8/10/2024), but may be extended depending on whether a candidate has been selected.
