Morgan Stanley at Work - Nonqualified Deferred Compensation – Account Manager (Recordkeeping Service), AVP
POSTING DATE: Sep 20, 2024
PRIMARY LOCATION: Americas-United States of America-Massachusetts-Boston
OTHER LOCATIONS: Americas-United States of America-Colorado-Denver
EDUCATION LEVEL: Bachelor's Degree
JOB: Wealth Management
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Assistant 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 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 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 provides financial wellness through Financial Advisors to assist executives with implementing holistic and tax efficient wealth management strategies across their assets.
Position Summary:
The NQDC Account Manager will work with existing and new NQDC clients to ensure their experience with Morgan Stanley at Work’s NQDC offer meets and exceeds their expectations. They will work directly with clients on the day-to-day administration of their NQ plans. The function will look at the aggregate policies and processes and drive uniformity and scalability where possible, as well as support management with the longer-term strategic or regulatory driven projects. Candidate is expected to engage with other Morgan Stanley at Work entities to review and leverage existing processes and procedures where they may apply to NQ servicing. The candidate will eventually be expected to provide subject matter expertise for NQDC plans to various groups, including Morgan Stanley branch office staff, service desks, etc.
Essential Functions:
- Perform duties to implement, track, monitor, and maintain nonqualified benefit plan accounts, fund lineups, distributions, on-going enrollments, etc. for assigned clients.
- Facilitate daily transactional processes with COLI carriers and/or Trustees (i.e., asset rebalancing).
- Partner with Plan Implementation/Onboarding team to implement new clients.
- Partner with Client Account Consultant, Design & Analysis, COLI teams to ensure delivery of end-to-end service to assigned clients.
- Serve as the initial escalation point for participant inquiries.
- Identify opportunities to scale and/or streamline existing processes.
- Provide timely and accurate delivery of client reporting, distributions, etc.
- Develop and maintain full understanding of day-to-day workflow processes required for assigned clients, including documenting workflow processes.
- Work with Morgan Stanley at Work consultants and Financial Advisors to conduct annual enrollment meetings for assigned clients, including updating enrollment materials and communications.
- Create desktop service manuals for assigned clients.
- Maintain client records in accordance with firm defined processes and standards.
Qualifications:
- Bachelor's degree required. 5-7 years of relevant financial services industry or related experience with a focus on Nonqualified Deferred Compensation plans
- Strong analytical and critical thinking skills
- Able to work in fast paced environment to meet client deliverable time-frames
- Extreme attention to detail
- Customer service oriented
- Excellent verbal and written communication skills
- Life insurance product knowledge with COLI knowledge a plus
- Strong project management and communication skills
- Highly organized and able to work on multiple projects across functional groups.
- Advanced knowledge of Microsoft Office suite necessary; including Word, Excel, and PowerPoint
- Strong sense of ownership, accountability, and entrepreneurial spirit
- Positive contributor to our team’s inclusive culture
- FINRA licensing may be a future requirement for this role
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 in Denver, CO: [$85,000 - $135,000] 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 20 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 10/31/2024, but may be extended depending on whether a candidate has been selected
