This job has expired, please see additional jobs below
Executive Director - Credit Review
Morgan Stanley
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Description
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.
Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firm’s internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm’s compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The team reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements. Internal Audit is comprised of Business, Risk and Technology audit teams.
The Credit Review Group (CRG) is an expert function within the Risk Management audit team and is staffed with subject matter experts in credit risk management.
As an Executive Director within CRG, the incumbent will report to the Head of Credit Review and Credit Audit. The candidate will demonstrate:
• subject matter expertise in credit risk management and an ability to serve as an advisor to senior business management and other audit functions
• the ability to work with regulators and other stakeholders to adopt regulations and laws that improve the risk management framework of the firm
• an advanced knowledge of economic, regulatory, financial, industry, and other forces that may create risk for the organization and can evaluate the impact on the firm’s control environment and strategic objectives
• the ability to effectively communicates to senior business management and the Board Audit Committee on thematic issues concerning risk, controls, and corporate governance and provide recommendations for improvements based on leading industry practices
• the ability to plan and execute Credit Reviews and manage multi-locational teams
• the advanced knowledge of Credit Review practices, including a familiarity with industry best practices.
Responsibilities Include:
• Planning and executing credit reviews; including managing staff to ensure efficient and effective use of resources
• Interaction with regulators, including making presentations on matters relating to Credit Review, and on closure verification of regulatory Matters Requiring Attention (MRA)
• Participation in Credit Risk Management committees, as required
• Continuous monitoring of specified credit portfolios, through periodic meetings with CRM and review of management reports
• Supporting other Audit groups with subject matter expertise in the area of Credit Risk Management
• Mentoring and developing the talent of the junior staff members in CRG
• Staying current on all regulatory matters relating to CRM in major markets – USA, EMEA and Asia.
Qualifications
More specifically, the candidate will:
• Possess the ability to analyze credit risk across all industries and business sectors, including the mechanics behind very complicated transactions and heavily structured deals (e.g., complex derivatives, leveraged loans, and SPVs)
• Demonstrates familiarity with restructuring, refinancing and distressed credits (e.g., work out situations and DIP financing)
• Understand the drivers behind credit risk rating tools and models and has the ability to identify conceptual model weaknesses
• Have Demonstrate an in-depth understanding of all relevant regulations, industry practices and can evaluate firm credit policies and procedures for completeness and accuracy against industry practices and regulations
• Have a thorough understanding of the overall credit process including underwriting, monitoring, portfolio management and problem credit management
• Ability to communicate well both in writing and verbally, at meetings
Possess at least 15 years or more of Financial Industry experience, preferably in a large commercial or investment bank in credit review or credit risk management.
• Will have appropriate advanced educational or professional qualifications, MBA/CFA/GRM etc.