Morgan Stanley is a global financial services leader with three core businesses: Wealth Management, Investment Management and Institutional Securities. The Wealth Management Division comprises one of the world’s largest networks of Financial Advisors with offices across the United States. Morgan Stanley acquired E*TRADE in 2020 to position itself as the industry leader in Wealth Management across all channels and segments, and significantly increases the scale and breadth of the Wealth Management franchise.
The recent integration of E*TRADE’s Banking Services provides an endless opportunity for growth and finding synergies. In this regard, the Morgan Stanley U.S. Banks seek a Senior Product Manager to join the product management team and report to the Head of Sweeps and Savings. The Morgan Stanley U.S. Banks (Morgan Stanley Private Bank, National Association and Morgan Stanley Bank N.A.) offer a range of deposit products including brokerage account sweep deposits via the Bank Deposit Program, as well as Savings, CDs, and Global Currency deposit products for Wealth Management clients. Deposit growth is also an important strategic initiative among other responsibilities.
The Senior Product Manager will help the Deposit Product team grow and manage the host of deposit products offered by Morgan Stanley Banks through both the legacy Morgan Stanley advisor-based channel as well as the E*TRADE self-directed channel. To help meet the Firm’s goals in growing balances across these channels, this role will consist of a mix of executing the deposits growth strategy, Project Management responsibilities and risk management. The Senior Product Manager will lead product initiatives in collaboration with functional partners; and lead routine product management functions. In this role there are tremendous opportunities to lead product development and refinement, present to and be recognized by senior-level management while partnering across Morgan Stanley. This role encourages collaboration and is perfect for a team player interested in learning and growing with the firm.
Responsibilities
- Lead the management and launch of Morgan Stanley Deposit Products delivered through Advisor based or Self-Directed channels
- Develop strategy, proposals and plans to execute on product changes or new product launches for senior management and stakeholder consumption
- Project management of new products and/or initiatives from pilot through launch
- Draft client communications and collaborate with cross functional partners to develop and implement Deposit Products marketing strategy
- Maintain and update policies and procedures as needed to accurately reflect changes and enhancements to Deposit Products
- Act as a point of escalation for any issues that arise with the deposit products, or its customers that require management’s attention
- Partner with Sales teams to help drive deposit growth, while developing key insights around customer segments, product gaps and opportunities for continuous product innovation and development
- Manage regulatory requests for information and lead interaction with regulators on deposit-related questions
- Partner with Risk, Legal, Compliance, and Audit on an ongoing and project-based basis to ensure adherence to rules, regulations and heightened standards; provide risk management oversight on all day-to-day activities and ensure consistency in the service offering for clients and FAs.
Experience
- 8+ years of experience in commercial or private banking, managing deposits and cash management offerings
- Experience with launching new products or features, specifically aimed at developing new business generation for retail and/or private banks.
- Experience in Wealth Management and working with Financial Advisors a plus
- Master’s degree in finance, Economics, Accounting, or Business, preferred
Skills/Abilities
- Superior analytical and statistical skills to process significant amounts of data
- Excellent verbal and written communication skills; strong interpersonal skills, including sound judgment, ability to create consensus and drive results
- Record of experience leading and managing high performing teams.
- Proficiency is MS Office (Excel, PowerPoint, Access)
- Appreciate & encourage diversity of people, ideas & perspectives
Expected base pay rates for the role will be between $175,000 and $250,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include
commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
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).
Posting Date
Nov 4, 2024
Primary Location
Americas-United States of America-New York-Purchase
Education Level
Bachelor's Degree
Job
Wealth Management
Employment Type
Full Time
Job Level
Executive Director
