Morgan Stanley is a global financial services leader with three core businesses – Institutional Securities, Asset Management, and Global Wealth Management. Global Wealth Management has almost 16,000 Financial Advisors and Private Wealth Advisors - one of the world’s largest networks of Financial Advisors. Morgan Stanley has expanded its suite of world-class banking and lending products exclusively for Financial Advisors 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, trust and cash management capabilities.
The Home Loans business is a key element of the Global Wealth Management strategy. There is continued emphasis on growth in this core product offering. Morgan Stanley continues to make considerable investments in this business in terms of technology, processes, and personnel.
Morgan Stanley Home Loans is seeking a candidate to lead important Product Development initiatives, designed to meet the needs of our affluent client base. The position will be responsible for the entire product development lifecycle, from conception until well after launch. The high-visibility position will be required to:
- Partner with senior stakeholders within Home Loans and National Sales to identify and evaluate new products that could serve the needs of our clients through various market and rate environments
- Source and maintain competitive intel on products offered by other Private Banks
- Own and manage the entire product development lifecycle from conception to launch, including:
- Establishing a strong value proposition with input from Sales, Marketing and Home Loans management
- Working with Legal, Compliance and Risk partners to design and implement product terms, controls, policies and procedures that ensure compliance with all legal and regulatory requirements
- Developing and presenting detailed product and marketing plans to various Risk & Oversight groups, including the New Product Approval committee
- Partnering with Finance, Pricing and Analytics to develop financials and account growth targets
- Writing clear and comprehensive business requirements for platform and process updates needed to support the new product
- Driving efforts within Marketing and Sales to develop account growth plans and develop product collateral for clients and Financial Advisors
- Partnering with Wealth Management to design any required Financial Advisor compensation
The role requires strong knowledge of residential mortgage products and experience designing and launching financial products. The successful candidate will be required to demonstrate the following capabilities:
- Proven track record managing large projects through a matrixed organization
- Strong strategic and analytical skills
- Understanding of mortgage products and origination processes
- Outstanding collaboration and leadership skills
- Strong sense of urgency in creating and maintaining momentum with project contributors
- Resourceful and able to work through various challenges that arise when driving change in a large organization
- 10+ years of experience in Financial Services
- Bachelors degree is required. Advanced degree is a plus.
- Significant experience developing and managing lending products. Residential mortgage experience strongly preferred.
- Experience working with Financial Advisors and serving High Net Worth clientele.
- Ability to create and oversee a white glove client experience for high net worth clients and their Private Bankers, wealth managers and Advisors.
- Ability to build relationships and deliver informative presentations and other communications to credit risk management, senior management, field management, auditors and regulators.
- Business Requirements
- Credit Products
- Customer Value Proposition