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Assistant Vice President, Operational Risk
Finance & Investment Industry Company
Purchase, NY, United States
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Description
Company (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. The Operational Risk Associate position is with Company Private Bank, National Association (the “Bank” or “MSPBNA”) on the Bank’s Operational and Regulatory Risk Team. The Bank provides deposit and lending products and services to serve the Private Banking needs of WM clients. Lending products include mortgages, securities-based loans, and tailored loans.
MSPBNA’s Operational and Regulatory Risk Team has responsibility for the design and implementation of the Bank’s Operational Risk and Compliance programs in the business unit as the First Line of Defense. The Operational Risk Assistant Vice President (AVP) will be responsible for helping manage the Regulation W Compliance program for all of the bank’s products, which includes building out Reg W programs for new products and monitoring Reg W limits across the Bank. In addition, the Operational Risk Associate will help manage the New Product Approval process.
The Operational Risk AVP responsibilities will include:
• Draft, update and review Reg W Office and business/support area procedures
• Monitor Reg W transactions and limits on a daily basis
• Prepare quarterly reporting
• Conduct monitoring of applicable activity
• Assist in internal audits and compliance tests
• Assist in testing of applicable Reg W controls
• Assist in identifying manual/semi-manual controls and implementing enhancements
• Assist with the NPA process, including setting meeting schedules and agendas of the Bank’s New Product Approval Committee (NPAC) and working with the business to ensure necessary materials are presented to the NPAC
• Assist with NPA Quality Assurance reviews and remediation efforts
Qualifications
• Bachelors Degree in Business, Finance or Accounting
• Business, Accounting or Finance related postgraduate degree is a plus
• 3-4 years’ experience in the financial services industry in operational risk or compliance
• 1-2 years’ experience with Regulation W
• Proven ability to interact and communicate effectively with senior management across various divisions
• Experience with new product approval processes a plus
• Private Banking experience a plus
• Project Management skills
• Ability to multi-task and work in a fast paced, ever changing environment