Deliverable

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Casella,Giancarlo
Kwan,Jacqueline
Taylor,James
Anderson,Connor
MorganStanleyBaltimoreISGFinanceOverview

TableofContents
BaltimoreISGFinanceStructuralOverview 2
FixedIncomeDivision 3-7
Commodities 8
GlobalInternals 9
GlobalCapitalandBalanceSheetManagement 10
ISGManagementReporting 11
InvestmentBankingDivision 12
InstitutionalEquitiesDivision 13
SystemsMatrix 14
SystemsDefinitions 15-17
AdvicetoNewHires 18-21



BaltimoreISGOverview
FixedIncomeDivision(FID)
Overview
EmployeesintheFixedIncomeDivisionprovideanecessarycontrollingfunctionforMorganStanley’sbusinessunitsdealinginfixedincomesecurities.TherearesevenbusinessareaswithintheFixedIncomeDivision,eachtaskedwithreconcilingtheprofitandlossestimatessubmittedbynumeroustradingdeskswiththeactualprofitsandlossesrecordedinthefirm’svariousrisksystems.
Thesebusinessareasinclude:
CreditCorporates
EmergingMarket(EM)Credit
ForeignExchangeEmergingMarket(FXEM)Macro
GlobalStructuredProducts
InterestRates
MSPI/PropandCRA
MunicipalSecurities
SecuritizedProductsGroup
Eachoftheabovelistedteamsprovidesasimilarservicetotheirclients,whichareinternaltothefirm.Essentially,controllingteamsareresponsiblefordailyprofitandlossandattributionreviewandreporting.Theseservicescanbesummarizedasfollows:
Reviewoftraderestimates(“T0”profitandlossdata)
Dailyprofitandlossreviewandreconciliation
Attributionresidualinvestigationandthresholdsforattributionadjustments
Researchandidentifyingtherootcause(s)ofbreaksbetweenPlanet(reporteddata)andC1,themainverticalrisksystem(traderestimateddata).
Escalationofmaterialissues
Signoffforprofitandlossaswellasattribution.Providecommentaryforboth.
Currencyandlegalentityreportingreviewandsignoff
Howeversimilartheroleofeachteamis,itisimportanttonotethattheprocessesandsystemsutilizedvaryfromteamtoteamdependingontheproduct(s)thattheteamisresponsiblefor.
CreditCorporates
EmployeesintheCreditCorporatescontrolteamprovideacontrollingfunctionforMorganStanley’sbusinessunitsconcernedwithtradingcorporatecreditproducts.Theirresponsibilitiesareinclusiveofthosetypicalwithmostprofitandlossgroups.
CreditCorporatesworkswithanumberofdifferentproductlines.Theseinclude:
CreditCorporates–Other
CreditCorporatesManagement
DistressedTrading
HighYield–NA
IndexProductTrading–NA
InvestmentGradeTrading–NA
Commercialpapers
AlsoworkwithprimaryteamsintermsofJVallocationsacrossHighYieldanddistressedproductlines.Theserollupintocreditcorporates’businesslineandtheywillcomplete2ndlevelsignoffforthematday’send.
Primarybonds
Primaryloans
TheBaltimoreofficeisresponsibleforalloftheprofitandlossreconciliationandreportingforthecreditcorporatesbusiness.WhileNYprovidessupportintermsofescalation,theBaltimoreteamworkstoensurethatallobjectivesandresponsibilitiesarecompleted.
EmergingMarketCredit
EmployeesintheEmergingmarketCreditcontrolteamprovideacontrollingfunctionforMorganStanley’sbusinessunitsthatdealwithemergingmarketsinLatinAmerica.
TheprimaryproductsdealtwithbytheEMCreditbusinessunitarecorporateandsovereignbondsdenominatedinUSD,EURorthelocalcurrency(BrazilianReals,ArgentinePesosetc.).Certainproductsareusedtohedgeoutriskonthesebondpositions,including:
Non-DeliverableCurrencyForwards(NDF’s)
InterestRateSwapsinanumberofcurrencies
InterestRateSwaptions
EquityandTreasuryFuturesandOptions
TreasuryNotes
TreasuryBonds
ETF’s
StructuredDebt
ForeignExchangeOptions
100%ofthecontrollingactivitiesfortheEMCreditbusinessareaareconductedinBaltimore.Theseincludeallofthedaily,weekly,monthlyandquarterlyreportingresponsibilitiesconsistentwithproductcontrolteams.
ForeignExchangeEmergingMarket(FXEM)Macro
EmployeesintheFXEMMacrotradingcontrolteamprovideacontrollingfunctionforMorganStanley’sbusinessunitsthatdealinflowtradingforclientsinforeignexchangesandemergingmarkets.Asbid/offerspreadsonthesecuritiesdealtwithtendtoberelativelytight,largepositionsand/orhighvolumetradesofthese“vanilla”securitiesarenecessarytodrivesubstantialPnL.Thus,FXEMMacroTrading’smainclientbaseisinclusiveofentitiesthathavethecapitaltofundlargescaletrades.
FXEMMacrotrading’sclientsinclude:
HedgeFunds
Corporations
AssetManagers
PensionFunds
FXEMMacrodealswithanumberofdifferentproductlines,whichareeachinclusiveofanumberofspecificproducts.Productlinesinclude:
FXEMSpotForwardRates
FXEMOptions
EM/EXRates–Onshore
IndividualProductsInclude:
FXCash–SpotsandForwards
Over-the-counterFXOptions(Notlistedonanexchange)
InterestRate(IR)Swaps
Bonds
ListedDerivatives
Asisconsistentwithmostprofitandlosscontrolgroups,FXEMMacroisresponsibleforcompletingdailyPnLreports,andcontributingtotheweeklyMCRreport.
MunicipalSecurities
EmployeesinthemunicipalsecuritiescontrolteamprovideanecessarycontrollingfunctionforMorganStanley’sbusinessunitsthatdealexclusivelywithmunicipalsecurities.
Themunicipalsecuritiesproductlineisinclusiveofthefollowingproducts:
PrimaryTrading
FlowTrading
Remarketing
PrimaryLiquidity
SecondaryFunding
MunicipalNon-core
MunicipalDerivatives
Likemostanyothercontrolgroup,themunicipalsecuritiesteamworksdirectlywithtraders,strategyanalysts,othercontrollers,ITandtheoperationsdivisiontoreconcileandreportthefirm’sprofitsandlossesonmunicipalproducts.
InterestRates
EmployeesintheinterestratecontrolteamprovideacontrollingfunctionfortheLiquidFlowRatesandStructuredRatesbusinessareas.Controllersworkcloselywithtraders,trader’sassistantsandtheoperationsdivisiontoensurethatalltheprofitsandlossesthattheysignoffon,daily,weekly,monthlyandquarterly,arecorrect.Theteamalsoprovidescommentaryandcontrolmetricstoseniormanagement.

Productlineswithintheinterestratebusinessareainclude:
NAGovernments(CADLiquidRates,USGovernmentBonds,GlobalLiquidRates)
USSwaps
AgenciesTrading
AgencyPassThrough
FIDManagement
FlatBooks
TipsInflation
StructuredRates
TheliquidflowratescontrolteaminBaltimoresuppliesroughly90%ofthereportingandanalysisproductionfortheliquidflowratesbusinessarea.However,structuredratesarenewinBaltimoreandareonlyresponsibleforreconcilingfourbooksonadailybasis.
SecuritizedProductGroup(SPG)
EmployeesinthesecuritizedproductcontrolgroupprovideacontrollingfunctionforMorganStanley’sbusinessareathatearnsrevenueprimarilythroughsecondarytradingonallsecuritizedproducts,securitizingmortgageassetsandunderwritingnewissuesforclients.
Productlineswithinsecuritizedproductsinclude:
ABS
AgencyCMO
CollateralizedLoanObligations
CMBS
CRELending
RESI
SPGManagement
Warehouse
Non-corePTG
Non-coreresidential
ThesecuritizedproductcontrolteamprovidestheauditingfunctionsconsistentwithallprofitandlossteamintheFixedIncomeDivision.Byensuringthevalidityofallofthebooksandrecordsfortheabovelistedproducts,theyprovidemanagementwithdatanecessarytoconductbudgeting,forecastingandcompleteprofitabilityreports.
GlobalStructuredProducts(GSP)
EmployeesintheglobalstructuredproductscontrolgroupprovidethenecessarycontrollingfunctionforoneofMorganStanley’smoreuniquebusinessareas.GSPinvests,andstructuresinvestmentsintaxcreditdealsthatarecomprisedofrenewableenergyandrealestateprojectsforthepurposeofgeneratingtaxcredits.Thesetaxcreditdealshavebothaneconomicandsocialimpact:
Renewableenergytaxequityincludesassetssuchaswindandsolartechnologies
Realestatetaxequityincludesassetssuchasaffordablerentalhousingandhistoricalbuildingpreservation
Theprofitsandlossesfortheteamarederivedprimarilyfromtransferabletaxcreditsandtheequitypick-upofprofitsandlosses.Taxcreditsarenotpubliclytradedproducts.RatherthebenefittheyprovidetothefirmistoreduceMorganStanley’staxableincome–incometaxesthatwouldotherwisebepaidtothefederalgovernment.
TheGlobalStructuredProductgroupborrowsthefundstomaketheseinvestmentsfromTreasury,inwhichGSPischangedbytreasuryatproxy.
ProductlineswithinGSPinclude:
TaxCreditDealStructures(BulkoftheGSPbusiness)
Section42LowIncomeHousing
Section45DNewMarkets
Section45Renewable/alternativeenergy
Section47Historic
Section48AdvancedEnergyProducts
HeldforinvestmentLoans
Thedaily,weeklyandmonthlyreportingresponsibilitiesoftheGSPcontrolgrouparethesameasallothercontrolareaswithintheFID.However,beinganon-coresectoroftheFID,andgiventhatitsprofitandlossdriversarenottradedproductsbuttaxcredits,differentiateGSP.ControllerscollaboratewiththeGSPbusinessunit,controllersinNewYork,MorganStanleyTax,AccountingPolicy,LegalEntitycontrollersandexternalentitieswithwhomtheyengagewithonaregularbasissuchasDeloitte&ToucheandErnst&Young.TheuniquenessoftheproductnecessitatesthecollaborativenatureoftheGSP,whichsetsitapartfromotherbusinessareas.
MorganStanleyPrincipalInvestments(MSPI)/CommunityReinvestmentAct(CRA)/PROP
EmployeesintheMSPI/CRA/PROPcontrolgroupprovideacontrollingfunctionforthreeofthefirm’smoreuniquebusinessareas.Thesebusinessareasareessentiallytheproductlinesthatthegroupreconcilestheprofitsandlossesfor.Thesebusinessareasaredescribedbelow:
MSPIholdsMorganStanleyPrincipalInvestments.Theseinvestmentsareinclusiveofequityownershipsincompaniesinvariousindustriesincludingwaterbottling,energyandtelecommunications.

CRAinvestsinloansandventurefundsinordertofulfilltheCommunityReinvestmentsActrequirementsforthefirm.TheCRAisintendedtoencouragedepositoryinstitutionstoreinvestinthecommunitiesinwhichtheyoperate,helpingtheirsurroundingcommunitiesmeettheircreditneeds.AdditionalinformationpertainingtotheCRAcanbefoundhere:http://www.federalreserve.gov/communitydev/cra_about.htm

PROPWorkoutsholdproprietarytradingpositionsthatthefirmisactivelytryingtosellorworkout.Theyholdvarioustypesofpositionsincludingbonds,stocks,loansandtradeclaims.



Commodities
Overview
CommoditiesinBaltimorecanbeseparatedintotwogroups:theOilLiquidsTeamandtheNaturalGas&Electricityduo.Betweenthetwogroups,theycovervariousproductlinesincludingOlympus,TMG,OilLiquids,crudeoil,distillates,lightends,options/flowandstoragecontractsofrelatedproducts,NAPower&Gas,RealTime,etc.
Asproductcontrollers,commoditiesinBaltimoredealsmainlywithdaily,month-endandquarter-endprocesses,whichinclude:
Daily:
ProductionofdailyPnLreportsonT+1basis
Dailyattributionofoptions/FlowbooksandOilOtherbooks(includesNewTradereviewonthesebooks)
DailyreconciliationofPnLreportedtoPnLrecordedonbooks/GeneralLedger
Weeklyrotationofthefollowingdailyresponsibilities:
WritingofStory(summaryofattributionofdailyPnL)
Attributionuploadandsign-offinPlanet
NightlyreportingofPnLonT+0basis
Month-End:
Accountownershipreview(PnL/NetRevenueaccts,BalanceSheetaccts,andExpenseaccts)
PnLreconciliationbetweenwhatwasreportedandwhatisrecordedonthefirm’sBooks/GL
PnLandExpenseaccountreviewsignoff
BalanceSheetreclassifications/adjustments&signoff
ExposuresandProvisionsreview(PnLandBal.Sht.)
PrepaidExpensesandDeferredLiabilitiesreviewandmonthlyreclassifications
TransferPricingreviewviatheLEALAwebtool
Monthlyrequestsforcommentary,foranysignificantmovementsinBalanceSheetorPNLaccounts
QuarterlyandYear-End:
Bothinternalandexternalclients(e.g.,internalbalancesheetgroup,externalauditors,regulatorrequests)
ProductsUsed: SecuritiesUsed:
CrudeOilandRefinedProducts
Distillates
PhysicalStorage
TransmissionRightsandCapacityTrades
Options,Swaps,andForwards(collectivelyknownasFlow)
RINS(RenewableIdentificationNumbers)

GlobalInternalsOverview
TheGlobalInternalsteamisresponsibleforidentifyingandcorrectingpotentialerrorsimpactingthefinancialstatements.Theteam’scurrentscopeisInternalOTCDerivativesthatareonInternalRenovatedBalanceSheetAccounts.Internaltradesaredefinedastradesbetweentwonon-clientaccountsortradersinordertofacilitateclienttransactionsorprincipaltrading,(includinghedgeactivity).
Afterlinkinginternaltransactions,theteamescalatesunmatchedtradestoOperationsandProductControllers.Forlinkedtransaction,theteamanalyzestheimpactofMarketValue(MV)differencesofInternalOTCTradesandflagstheoverallexposurecausedbythesedifferencesin3Rs.
GlobalOverviewhastwomainpurposes:Makingsurepeopledon’tcommitfraudandoncethetradeisagreedon,makingsurethepricematches.Pricesmaybedifferentbecauseofmultiplereasons:Bookingproblems,modelingdifferences,timingdifferences(interestratechange,FXrates,changeinequityprice),crossriskexposure,orfeeproblems.Otherissuesarecharacterizedasunexplained.
Iftradepricesaren’tproperlymatched,differentBUswillhavedifferentsizedhedges.Thesewillcauseeitheranunnecessaryexpenseoranincreaseinriskexposure.
ProductLines
TheteamperformsproductcontrolandreconciliationsonInternalOTCDerivativestoincludeFX(Spots/Forwards/Options),Commodities(Spots/Forwards/Options),InterestRateSwaps,CreditDefaultSwaps,EquitySwaps,andEquityOptions.ButGlobalInternalscoversandworkswitheveryareatoassureallinternaltradesarematched.
OverallContributiontoMorganStanley
GlobalInternalsensuresthattransactionsarebookedcorrectlyandthatmarketvaluesarebeingproperlyreportedinthefirm’sbooksandrecords.Theserolesreducethefirm’sriskfinanciallyandprotectthefirm’sreputation.Theteam’scontributionsincreaseinternalcontrolswithinISGandassistOperationsandProductControllersinperformingtheirduties.



GlobalCapitalandBalanceSheetManagement(GCBM)Overview
GCBMproductionisbasedoutoftheBaltimoreoffice.Betweencreditrisk,balancesheetreporting,andcapitalreporting,thethreesub-groupsworkwithcontrollers,thebusinessunitsandriskdepartmentstomonitor,measure,andcreatereportssummarizingcapitalandbalancesheetbybusinessunitandtoconfirmtheaccuracyofcreditriskdata.TheoverallgroupcollaborateswithitscounterpartsinNewYork,whothenusetheinformationproducedinBaltimoretohelpvariousbusinessunitsmanagetheircapitalandbalancesheets.
CreditRisk
CreditRiskensuresthatMorganStanleyhasaccuratecapitalandreportingdataforthefirm’sover-the-counterderivativesandcorporateloans.ThisparticularsubsetwithinGCBMprovidessupportforloanandOTC(over-the-counter)disclosuresthroughreconciliationofdatafeedsbetweensystemsthatfeedintoMorganStanley’sRiskWeightedAssetsestimates.Thegroupalsoperformsnettingandvariousadhocanalyses.Productsthathavecreditriskexposureinclude:OTCderivatives,repotransactions,andloans.
BalanceSheetReporting
BalanceSheetReportingcontributesdailybalancesheetestimatesforeachofMorganStanley’sbusinessunits,withaprimaryfocusontheInstitutionalSecuritiesGroup(ISG).Thisteamcoverstheentireassetsandliabilitiesportionsofthebalancesheet,includingsecurityproductsaswellasallfundingactivitythroughoutISG.
CapitalReporting
UnderGCBM,CapitalReportingmeasuresRiskWeightedAssets(RWAs)andbusinessrequiredcapitalforthebusinessunitsunderMorganStanley.Eachweek,thisteamusesriskdepartmentdatatoconsolidatetheRWAsandcapitalrequirementsforeachbusiness.ThesereportshelpbusinessunitsmonitorhowtheirtradingactivitiesaffectMorganStanley’soverallcapital.ThegroupisalsoinvolvedintheearningspressreleaseprocessandisthesourceoftheFICexLendingRWAestimatesthattheCFOreferstoduringthequarterlypressreleaseearningscall.
OverallContributiontoMorganStanley
WithouttheGCBMteam,MorganStanleywouldnothavethereportsneededtoverifyeachbusiness’contributiontotheFirm’sbalancesheet,RWA,andcapital.Firmmanagementwouldthereforelacktherecordsandabilitytomakethebestdecisionspossible.Inparticular,withoutGCBM’sreporting,MorganStanleywouldnothaveasourceofregularlyupdatedbalancesheetandcapitalinformationbybusinessunit.



ISGManagementReportingOverview
ISGManagementReportingisauniquereportinggroup,inthattheyareresponsibleforthecompilationofprofitandlossreportsforeverybusinessareawithinISGfinance.Thus,whilecontrollersinthisareadon’tdevelopanintimateknowledgewithanyonesingleproductascontrollersinotherprofitandloss/reportinggroupsmight,theydevelopabroadknowledgeofeveryproductdealtwithbytheISG’svariousbusinessareas.
ISGManagementReporting’sresponsibilitiesinclude:
Thecompilationofearningsreportsforinternalmanagement,whichareinturnusedtodevelopearningsreportsforexternalconsideration
BookstoRecords(BTR)Reporting.Thisisdoneasameansofexplainingvariancesbetweeninternalandexternalearningsreports.
Providingmetrictouppermanagementforothercontrolgroupsasameansofpinpointingprocessinefficiencies.
Forexample,theymightreporttheaveragesign-offtimeforagivenbusinessunit,allowingmanagementtodecidewhetherornottheunitisperformingefficientlyenoughandhowtoimprovetheirefficiencyifnot.
Actascounselduringstructuralchangestothefirmsbooks,andaidinnotifyingthousandsofemployeesfirm-widesuchchanges.
Morespecifically,theabovelistedresponsibilitiescanbebrokendowninto:
Daily:
Profitandlossreporting
T1ProfitandLossreportingwhichisviewedbyuppermanagement(includingtheCEOandCFO)eachday.
Weekly:
MCRReporting.Thisisessentiallya5dayconsolidationoftheentireISGdivision.
Monthly:
BTRReporting
Providingproductionmetricsforprofitandlossgroups
AsNecessary:
Providingcounselduringstructuralchanges
ISGManagementReportingcollectsandanalyzesdatafromeverybusinessareawithintheISG.ThecontrolteamisresponsiblefordevelopingasoundoverallknowledgeforallbusinessunitswithintheISG,andhastheabilitytoreachouttoemployeesinanybusinessareatoverifyreportedprofitsandlosses.



InvestmentBankingDivision(IBD)Overview
TheInvestmentBankingDivisioncanbeseparatedintotwogroups:IBDReporting(areportingteam)andGlobalCapitalMarkets(aprofit&lossgroup).Fromthis,IBDreportingcanbefurtherbrokendownintoIndustryandCountryCoverage,andMergers&AcquisitionswhileGCMcanbefurtherbrokendownintoEquityCapitalMarkets,FixedIncomeCapitalMarkets,andLeveraged&AcquisitionFinance(Leveraged&AcquisitionFinanceisprimarilybasedoutofNewYork).Asbusinessunitcontrollers,IBDprovidescoverageandsupporttotheInstitutionalSecuritiesGroup.Businessunitcontrollersactas“guardians”byensuringthatbooksandrecordsarecorrect.Theyprovidemanagementreportingandanalyticstothebusinessmanagementteamsviadaily,weeklyandmonthlyreporting.
IBDReporting
Daily:
Produceprofit&lossreports,revenue&expensereports,balancesheetcapitalreports
Globalreviewandreconciliationofalldeals
Allocateprofit&losstojointventureproducts
MonthEnd:
GenerateManagementControllerReview(MCR)
DueDiligencereports
QuarterEnd:
CreatebusinessareadecksforuppermanagementpositionsinordertoreportonthequarterlyIBDbusinessincludingthe10Qand10Kandprepareforquarterlyearningsrelease’
GlobalCapitalMarkets
GlobalCapitalMarketsrespondswithmarketjudgmentandingenuitytomeetclients’needsforcapital.ThroughexecutinganIPO,debtoffering,equities,investment-gradeandnon-investmentgradedebtandotherrelatedproducts,MorganStanleyisabletoprovideitsclients’withthebestservice.GCMleveragesresourcesfromtheSales&TradesteamsaswellastheInvestmentBankingteamsinordertobeefficientandeffective.GCMproductcontrollerscollect,reportandreconcilerecentlypricedtransactionsforunderwritinginstrumentssuchasequities,initialpublicofferings,investmentandnon-investmentgradedebtandotherequityrelatedproducts
Products:
IPO
Debtoffering
Equities
Investmentandnon-investmentgradedebt
Otherrelatedproducts
InstitutionalEquitiesDivision(IED)Overview
TheEquityareainBaltimorehasfivesubdivisionswhichinclude:PrimeBrokerage,Derivatives,CashEquities(formerlyknownasDeltaOne),IEDReporting,andClientRevenueReporting.
PrimeBrokerage
CorePrimeBrokeragefocusesonofferingservices,suchassecuritieslendingandfinancing,tohedgefundsandotherassetmanagers.Thishelpstoprovideadditionaltransparencyinthemarketandensurescollateralispledgedtoprotectagainstfails.?
EquityDerivatives
DerivativesfocusesonreconcilingPnLandcommissionsfordifferentproductlinesunderderivativesinadditiontodeliveringmarketcommentaryandattributionfordailyPnL.DerivativesmainproductlinesareIndex,SingleName,Convertible,andAutomatedMarketMaking,andOTHERIEDproductlines.
CashEquities(DeltaOne)
CashEquitiesisresponsiblefordailyPnLreconciliation,attribution,production,reporting,etc.LongertermtasksincludemonthlyreconciliationofBUnetrevsandbalancesheet,aswellascoordinationofvariousmonthly/quarterlytransfersandproductionofreportingdeliverables.CashEquities(formerlyDeltaOne)includesCoreProducts(CoreSecondary,MSETCORE,andINTLCore),PortfolioProducts(ETFs,MSETETFs,PortfolioTrading[PT],MSETPT),andSystematic.
InstitutionalEquitiesDivisionReporting(IEDReporting)
TheIEDDivisionalReportingGroupisresponsibleforaccuratereportingandanalysisofProfitBeforeTax(PBT)reporting.ThisincludesrevenueandexpensesreportingacrossregionsfortheentireInstitutionalEquityDivision(IED).Inaddition,weareresponsibleforpreparinganddistributingaccuratedaily,weekly,monthly,andquarterlyreportingtovariousEquityBusinessUnitsandseniormanagementwithinEquityProductControl–withattentiontoactualsvs.forecast,YearoverYearstories,andothergeneraltrends.IEDreportingworkswithalloftheBusinessAreaswithinIEDaswellasSeniorManagement.
ClientRevenueReporting(CRR)
Theclientrevenuereportingteamisresponsibleforprovidingandmaintainingaccurateinformationforallsalesandtradingactivitiesintheequitydivision.Wehaveanumberofstandardreportsthataredistributedonadaily,weekly,monthlybasisandalsorespondtooneoffrequestsfromsalesteams,controllers,analyticsteams,andmanagement.Asourdatafeedsfromanumberofothersystemsitisimportantthatweconstantlyreviewandconfirmrevenuestoensuretheinformationwearedistributingisaccurate.CRRdealswithallequityproductsincludingcashequities,derivatives,andprimebrokerage.
SystemsMatrix

SystemDefinitions
Accessdatabases–UsedbyGCBMtocalculatecomplexCusipNettingandDerivativesnetting.

Atlas–StructuremaintenanceforbothCostCenterand10Q.

Alias-AliasistheAsset&LiabilityreportingapplicationforISG.Itisprimarilyusedtoanalyzebalancesheetusagebybusinessunits.

Axiom-AvendorsystemforFederalreportingandfilings.

CAPO-CAPOsupportstwodifferentwaysofreporting-cannedreportsandad-hochighperformanceOLAPbasedflexiblequerytool.

Clarity-Aftertheledgerisclosedforthemonth,thetrialbalancebyfundisdownloadedtoEnterpriseandallmonth-endandfundreportingisdoneviathisapplication

ComLive-Thisisanexceladd-inwhichallowsonetoconnecttoCougarenvironmentinExcel.UsedbytradersandfinancecontrollerstodisplayPnLbybook/serveraswellasforattribution(thedetailsforvarioustradingactivityandcostsofcarry).
CreditOne-CreditOneisthefrontendfortheFixedIncomeCreditDerivativesSuiteofapplications.Itisusedonthedeskfortradebooking,marketdata,riskreports,andPnLattribution.
D2-D2(Dashboard2.0)bringstogethertheinternaltoolsformanagingIBDandGCMdealsandclientsacrossbankingintoonecoherentplatform.TheapplicationisusedbyIBD,GCM,IBD/GCMFCGandrelatedIBD/GCMsupportgroups.

DMT-DMT(DataMaintenanceTool)isacommonfront-endtoallowreferencedataupdatesacrossmultipledatabases.RatherthanbuildindividualGUI''sforeachsystem,genericscreenscanbedevelopedinDMTusingsimplemeta-datatodefinetheappropriatecolumnstobeupdatedinthetableandthestoredprocedurestobecalledtohandletheupdates.

Edison–Apowerrisksystem.

EQS–EnterpriseQueryServicesistheenterpriseportalapplicationusedforviewingtrades,journals,positions&balancesandsettlementsdata.

Franklin–RisksystemusedbyNaturalGas&Electricity.

Garfield-GarfieldisasubsystemoftheTempest/Franklin/Dukesystems.GarfieldisintendedtobeusedasacontainerforvariousnewtoolstointeractwiththeTempestsystems.ThefunctionalityprovidedbyGarfieldrevolvesaroundpost-trade-processing.GarfieldcontainsmanyofthefunctionsthatpreviouslyexistedinTempest2000.Forinstance,itisusedtouploadPLadjustments.

GeneralLedger–Aswithanybusiness,theFirm''sAccountingRecordsarecontainedintheGeneralLedger(GL)Systemwhichisamainframesystem.ItisimportanttounderstandthattheGeneralLedgeristhefirm’sbooksandrecords.ItisthefinancialinformationcontainedinthissystemwhichfeedotherGeneralLedgerrelatedreportingsystems(e.g.Omega).TheresponsibilityofbooksandrecordsfallsupontheshouldersoftheControllerstoensurethatallaccountingrecordsareaccurate.

Genesys-Genesysisaweb-basedapplicationforcreatingandapprovingopen,close,reactivate,ormodifyrequestsforaccountsandcostcenters.Thistoolensuresthateachrequestcontainsalloftherequiredinformationandautomatestheapprovalflow,makingsurethateachrequestissenttoappropriateapproversintherightorderandinatimelyfashion.

IceView(IV)–Trade-daterisksystemusedforcalculationsthattheFirmrequiresbeforedisclosingthepopulationsthroughregulatory

IRRT-IntegratedRiskisthemainriskcalculationfrontend.ItisusedbyallFXOptionstraders,FXEMtraders,andtheFX/IRDJVtraders.IRRTReducesoperationalriskbyreplacinglegacyfrontendtoriskreporting.Itprovidesabilitytoquicklyaddorextendriskreports.

JEMS–JournalEntryModificationSystem.

LEALA–Dealswithtransferpricingcalculations.Forinstance,OilLiquidshastradersinvariouslocations,soLEALAdealswiththetaximplicationsofhavingtraderstradingoutofforeignlocations.

LEO-LEOisasystemofapplicationcomponentsusedbyFXOperationsbusinessgloballytoautomatetradevalidationandenrichment,totracktradeconfirmationsandtotransmittradeandsettlementdatatopayment,settlementandreportingsystems.KeycomponentsoftheLEOsystemare:LEOGUI,FXServiceBus,FXTC,MAX,TAXW

Lynx-TheLYNXapplicationisacentralhubforallmessagesgoingthroughGLRDsystem,andforinterfacingwithexternalsystems.Itconsistsoftwoindependentcomponents:awebbasedUIandaUNIXbasedserver.Forinstance,tisusedtomatchdetailsforcommodities’tradingactivity.

Mainframe–Mainframeisadosbasedsystemusedprimarilyforaccountmaintenance(throughBAACfunction),PnLadjustments(throughPXfunction)andmonth-endGLjournals(throughGLfunction).

OmegaSuite-OmegaSuiteisthefamilyofreportingapplications,adjustmenttoolsandadministrativeutilitieswhichareusedbyallusersandsupportpersonneltoaccessandmodifythecontentofWISEdatawarehouse.

PCT-PoliticalContributionTrackingisaMorganStanleyapplicationusedtotrack,reviewandapprovecontributionsmadetopoliticalorganizations.Thisapplicationensuresthatcompanyguidelinesarebeingfollowed.
Planet(IQ+)-BacktestingisanapplicationthatcomparesthedailyHYPERLINK"http://wiki.ms.com/cgi-bin/edit/KBFWP/PnL?topicparent=KBFWP.IQPlusPnLandVaRbacktesting;nowysiwyg=1"\o"PnL(thistopicdoesnotyetexist;youcancreateit)"PnL?reportedbythefirmagainsttheHYPERLINK"http://wiki.ms.com/cgi-bin/edit/KBFWP/VaR?topicparent=KBFWP.IQPlusPnLandVaRbacktesting;nowysiwyg=1"\o"VaR(thistopicdoesnotyetexist;youcancreateit)"VaRpredictedbytheMarketRiskDataTeam.Regulatorsusethisdatatoevaluatetheabilityofthefirmtocorrectlyestimateitsmarketriskandimposeheavyrestrictionsonthefirmintheeventofasignificantmismatchbetweenthepredictedandtheactualnumbers.

PX–PXisthefirm’smainframeprofitandlosssystem.

Radar-TheobjectiveofRADARistoserveasthedashboardforavarietyofEFPbusinessusers,wheretheycanquicklylaunchanumberofreports,simpledatamaintenance,flexibleanalysisstudies,historicaltrending,etc.ThetoolwillalleviatetherepetitivetasksorqueriesusershavetomakeandallowITtodeploythesecommonstudiesveryrapidly,withnorecompilationorredeploymentoftheapplicationcode.

Ripple-Ripple(RIskrePortingandPnLrEnovation)isaninitiativededicatedtotherenovationofRISKandPnLstorageandreportingwithinFIDIRD.ItprovidesenhancedPNLcalculationandreportingincluding(a)trade-levelbreakdownsforallproducts,and(b)aggregatedriskandPnLacrossassetclasses.

RiskVision(RV)–Trade-daterisksystemusedforcalculationsthattheFirmrequiresbeforedisclosingthepopulationsthroughregulatory

STS-STS(SwapsTradingSystem)isamultiversionedunix/linuxbasedtradingapplicationwritteninA+.ItisaccessedthroughXS-Launcher.TheversionsareusuallynamedSTS_Locations_Functionwherelocations=areaofswapsbeingtradedandfunction=methodoftradingactions.

TAPSEUR-Usedfortradepositiondata.

Tempest–VerticalrisksystemforOil,NatGasandBaseMetalstraders(allCommodities).Forinstance,ittracksalltradingactivityforOilLiquidscommodities.

Trend-TrendencapsulatesthetradecaptureandlifecycleprocessingofinterestratederivativetransactionsandwillgraduallyreplacepartsofSTS.TrendhasbeendesignedasaservicebasedarchitectureandimplementedinJavaforserversideprocessesandinC#fortheWindowsclient.
Zeus-Zeusisusedgloballybytraders,salestradersandcontrollerstomanageallofthefirm''scapitalcommitmentorrisktrades.Thewayitisusedbydifferentdesksvaries.

AdvicetoNewHires
BalanceSheetReporting
“Beproactiveaboutaskingformoreresponsibilitiesandalwaysseekoutnewopportunities.Onceyoustoplearning,itistimetomoveon.
Understanding‘why’youaredoingsomethinginadditiontothe‘what’youaredoing.Notonlywillthishelpyoubecomeasubjectmatterexpertbutthiswillalsohelpyousharpenyourcriticalthinkingskillswhichcanbeusefulinallaspectsoflife.
Remember,youdon’talwaysstartoffwhereyouwanttobeasananalyst,butwhenyouexcelatyourcurrentroleanddifferentiateyourselffromyourpeers,peoplenoticeyourworkethicwhichwillleadtoopportunitiesopeningforyoutodowhatyoureallywant.”
-TheBalanceSheetReportingTeam
CapitalReporting
“Takeadvantageofthenumerousnetworkingandtrainingopportunitiesavailable.[Also,think]beforeyoureactinchallengingsituations-focuson[the]solution.”
-DorothySanya,CapitalReporting
CashEquities
“Talktopeopleinothergroups.Whenyouhearaboutwhatotherteams/groupsdoandtheyproductstheyworkwith,themoreyouwillunderstandaboutthegeneralbusinessofthefirm.ThisisespeciallytrueforothergroupsoutsideofFCGasithelpstobothunderstandthejobsofandhavefriendlyrelationshipswithOps(tradesupport,CSG)andtheBUitself.”
-BenjaminEngleman,CashEquities
Electricity&NaturalGas
“Bymakingprocessesmoreefficientthroughautomationandsimplification,[controllers]reduceriskandlabortime,whileincreasingaccuracy.Attheendoftheday,thisishowweascontrollersaddvaluetothefirm.”
-MattLambie,Electricity&NaturalGas
CreditCorporates
“Askquestions.Asktheobviousquestions.Askthequestionsyouthinkmaymakeyouseemsilly.Askquestionsyoualreadyaskedifitdidn’tquitemakeasmuchsenseasyouthoughtitshould.Askquestions.”
-AnikaPowell,CreditCorporates
CreditRisk
“Haveavisionofwhatyouwanttoaccomplishasanemployeeandhowitfitsintoyourfive-yearplan.Then,remainconsistentandexpandthescopeofyourvisionasyoudevelopmoreexpertiseandability.Pushyourselfatworkandremembertojumpattheopportunitytotakeonresponsibility,particularlyifitwillaugmenttheabilitiesandskilllevelthatyoucurrentlypossess…Forethoughtgoesalongway.”
-NashPeyton,CreditRisk
CRR
“Asklotsofquestionsandtrytogoinvolvedintheprojectsthatyourteamisworkingon.Gainingastrongknowledgeofyourproductsandrolenotonlybenefitsyourteambutyoucanbecomeavaluablecontactforotherteams.Establishinganetworkofcontactscanhelpyouworkmoreeffectivelyandgainexposuretootherareasofbusinessyoumightbeinterestedinworkingindowntheroad.”
-AllisonMarkow,CRR
Derivatives
“Comeinandworkhard,takeinasmuchinformationasyoucan.Ifyouputinthetimeandeffortthereisalottobelearnedabouthowaninvestmentbankfunctionsfromtheinside.”
-BrianBerman,Derivatives
FXEMMacro
“Thinklikeanownerofyourproductline/businessareaandaskquestions.”
-CottonKelley,FXEMMacro
GlobalInternals
“Asklotsofquestionsandtrytogoinvolvedintheprojectsthatyourteamisworkingon.Gainingastrongknowledgeofyourproductsandrolenotonlybenefitsyourteambutyoucanbecomeavaluablecontactforotherteams.Establishinganetworkofcontactscanhelpyouworkmoreeffectivelyandgainexposuretootherareasofbusinessyoumightbeinterestedinworkingindowntheroad.
Askquestions.Neverstopaskingwhyorhow.Intellectualcuriosityisamusttobesuccessfulinthisrole.Anotherareatofocusoniscommunication.Itisextremelyimportanttoescalateallbreaksandpotentialbreaks.Inaddition,successfulteammemberarepersistentintheirescalationsanddonotstopcommunicatinguntiltheissueisresolved.”
-TheGlobalInternalsTeam


GSP
“BecomeaProductExpert-Avoidbeingsolelyfocusedontheprocedures/stepsrequiredtoproducethePnLreportsthatweownasProductControllers,andtokeepinmindthefocustounderstandtheproduct.UnderstandingtheproductthatyouaretheProductControllerforisextremelyimportantbecauseitallowsyoutobemorecomfortablewhentroubleshooting,speakingtoTraders/BusinessUnitandgainingtheirconfidence/earningtheirbuy-inandtrust,anddealingwithanomaliesandpeculiaritieswhicharegreatopportunitiesforyoutoaddvaluetoyourteamandgainvisibilityasanimportantmemberofyourteamandtheFirm.
BuildRelationships–TheGSPbusinessisuniqueinthatitisintheNonCoresectorofFIDanditscorebenefittothefirm,taxcredits,arenotactivelytradedonthemarket.Asaresult,thereareasignificantnumberofdifferentwaysinwhichGSPmaintainsitssupportforthebooksandrecordsthatarereflectedinMorganStanley’sbooksandrecords.WecorrespondwiththeBusinessUnit,oneanotherasProductControllersbetweentheNewYorkandBaltimoreOffices,MSTax,AccountingPolicy,LegalEntityControllers,externalfirmswhoweengagesuchasDeloitte&ToucheandErnst&Youngonregularbasis.DuetotheuniquenessoftheGSPproductandthecollaborativeeffortthatisrequiredwithinthebusiness,havingasolidrelationshipwiththevariousGSPstakeholdersiskeytotheefficienciesthatwemusthaveinplaceinordertomeetourinternalandexternaldemands.”
-ChristopherHamilton,GSP
IBD
“BefamiliarwithallIBDdealterms,askalotofquestions,comewithagoodattitudeandbereadytolearn.”
-TylerGrason,IBD
IEDReporting
“Stronganalytical,communication,andorganizationalskillsareneeded.Inaddition…becauseweworkwithcontrollersfromalltheBusinessAreasaswellasSeniorManagement–Stronginterpersonalskillswillgoalongway.Lastly,theabilitytohandlemultipletasksinafast-pacedenvironmentisvital.”
-AdhipPahwa,IEDReporting
LiquidFlowRates
“Ownyourresponsibilities.Don’tdependonotherstohelpyougetyourworkdone.Ownthewayyoulearn,organize,execute,andcommunicate.Otherwiseyoujustbecomeabutton-pusherwhotakesinstructionsfromothers.”
-JoeyInnes,LiquidFlowRates
MSPI/CRA/PROP
“Youshouldlearnasmuchaspossible.TakeadvantageoftheknowledgeofthosearoundyouaswellastheMorganStanleytraining.Abroaderknowledgebasewillalwaysprovideanextraadvantageintheworkforce.”
-AllyGreenlee
MunicipalCredit
“Asklotsofquestions,alwaystrytolearnmore,anddon’ttrymemorizetheprocess,insteadunderstandwhereandhowyourbusinessismakingorlosingmoneyandwhy.”
-IanOliner,MunicipalCredit
OilLiquids
“Writeeverythingdown.”
-MathewWhite,OilLiquids
PrimeBrokerage
“Askalotofquestions;ifyoudon''tunderstandenoughtoaskrelevant,educatedquestions,chancesarethatsomeonedidn''texplainsomethingwellenough.?Askthemtoexplainitagain.?It''scriticaltounderstandthedriversoftheoverallbusiness.?It’seasytospendallofyourtimelearningandmasteringtheprocessofproducingPnL''s.?Thisisabadplacetobe–thingswon''treallycometogetherwell,youwon''tbeabletobuildsolidrelationshipswiththeBUifyoudon''tseethingsfromtheirperspective,andyoucertainlycan''tadequatelycontrolabusinessthatyoudon''tunderstand.?Finally,tobefrank,thisjobcouldbeextremelyboringifyoudon''tkeepthebroaderpictureinmind.”
-RyanMiller,PrimeBrokerage
SPG
“Beingacontrollermeanstakingownership/accountability.BysigningoffdailyweareattestingtotheaccuracyofthePnLwearepublishing.BepreparedbyaskingquestionsuntilyoufullyunderstandthePnLyousignoffon.”
-WendyNguyen,SPG