Employee Conduct Risk & Wealth Management Administration Business Control Unit - AVP
Morgan Stanley
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 grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Client Segments Organization, within Morgan Stanley Wealth Management, is comprised of various client channels, providing services to both individual and institutional Clients. Some of the services include Financial Management, Equity Stock Plans, Retirement Plans, Financial Wellness, Marketing, and Reinvestment.
Position Summary
The Client Segment Risk (CSR) Business Control Unit (BCU) Team is a first line of defense function responsible for overseeing the operational risks and controls of Wealth Management’s Client Segments business units. This team partners with business stakeholders, second and third lines of defense to assess and report on operational risks, implement control processes and procedures, manage audits and exams, oversee vendor risks, manage business continuity plans, and conduct the annual Risk and Control Self-Assessment (RCSA).
The CSR Centralized BCU Team acts as a shared / utility function supporting all Client Segment Business Units, select MS Wealth Management functions
· The team is looking for a dynamic individual to support the Client Segments organization as well as WM Administration (WM Admin) teams
· This position is responsible for risk management and oversight of activities including, but not limited to, employee conduct risk assessment and mitigation, data management, communications, reporting, as well as RCSA and Biz Continuity Management
Responsibilities Include
The primary responsibilities for the Employee Conduct Risk & Wealth Management Administration Business Control Unit - Assistant Vice President will be to provide CSR Centralized BCU governance risk coverage for the WM Admin teams and the Employee Conduct Risk (ECR) management with a focus on mitigating risk and improving the control environment. In this governance risk focused role, a candidate will be required to:
· Support the overall management and oversight of the ECR program for selected business units, such as:
o Actively lead projects/initiatives to establish and maintain strong employee risk processes and support appropriate employee risk governance using project management best practices (e.g., establishing operational oversight for MSAW OSJ/Branch offices and expansion of the ECR centralized oversight across additional selected business units within Client Segments including Field)
o Deliverables are often related to ad-hoc and unanticipated requests, so a successful candidate must be able to work in an environment with evolving priorities, making good decisions about prioritization and communicating immediately where there are real risks to on-time delivery
· Manage risk framework related components for WM Admin areas, such as:
o Ensure issues and action plans (remediations) are adequately completed and on target
o Engage business partners to understand operational risk incidents and remediate as necessary
o Act as a focal point for internal audits, compliance exams and other areas of review/exams. Own day-to-day tasks associated with both internal stakeholders and internal and external auditors.
o Support Risk and Control Self-Assessment (RCSA) process and identify risks and controls on an on-going basis
o Assist with Business Continuity Plan deliverables (BCM)
- Manage assigned offshore resources including, but not limited to, on-going oversight, training and procedures
- · Manage projects as needed and assigned; deliverables are often related to ad-hoc and unanticipated requests, so a successful candidate must be able to work in an environment with evolving priorities, making good decisions about prioritization and communicating immediately where there are real risks to on-time delivery
- Identify potential risk exposure, investigate issues, propose solutions, and resolve matters across multiple collaborators
- Propose new or enhanced program processes, develop process documentation, and roll out to partner teams
- Assist with ad hoc data reconciliation, presentation decks; or clean-up as requested
- Collaborate and build effective working relationships with all levels of employees across the organization. Partner with second- and third-line control functions (Legal, Compliance, Audit, and Operational Risk Department) on an ongoing basis
Knowledge, Skills, and Abilities
- Strong data analytical skills required, with proficiency in PowerPoint and Excel
- Effective written and verbal communications skills
- Ability to thoroughly investigate issues and trends with a focused attention to detail in order to provide comprehensive solutions and remedies
- Strong management and organizational skills - ability to multitask, prioritize, and work under tight deadlines will be key in balancing daily deliverables and strategic projects
- Understanding and/or aptitude to learn about the regulatory rules that govern the conduct of Financial Advisors, investment products, portfolio advisory platforms, and banking services
- Thrives in a fast-paced environment and takes ownership of their responsibilities to ensure partner success and satisfaction
- Technically proficient and comfortable learning new programs/systems.
Experience
· 5-7 years’ experience supporting corporate business processes/programs
· Experience with risk or compliance a plus
Education
- Bachelor’s/MBA degree or equivalent work experience