This job has expired, please see additional jobs below
Sales Practice Oversight Lead-Executive Director
Morgan Stanley
Purchase, NY, United States
Job Details - this job has expired, please see similar jobs below
Description
Company Profile
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.
Department Profile
Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and comprehensive program for managing operational risk, both within each area and across the firm globally. Operational risk is the risk of financial loss or other potential damage to the firm’s reputation due to inadequate or failed internal processes, people, systems, or from external events. This group designs, implements and monitors the company-wide operational risk program.
Background on the Team
The US Bank IRM Team in ORD supports the US Bank Operational Risk Framework with direct responsibility to Bank Risk Management. Morgan Stanley is a global financial services leader with three core businesses – Institutional Securities, Asset Management, and Global Wealth Management. Global Wealth Management is offered by the Morgan Stanley Wealth Management (MSWM) franchise, which has one of the world’s largest networks of Financial Advisors. Morgan Stanley continues to expand our suite of world-class banking and lending products exclusively for MSWM Financial Advisors and their clients. MSBNA and MSPBNA provide deposit and lending products and services to serve Institutional Clients and the Private Banking needs of MSWM clients.
MSBNA and MSPBNA are required to maintain clear reporting lines to support its governance including independent risk functions. Senior Officers in each US Bank business have direct reporting lines into each Bank’s management structure. This position is in the US Bank Operational Risk Department, Second Line of Defense which reports into the Bank Chief Risk Officers of MSBNA and MSPBNA and into the Firm’s Operational Risk Officer.
Background on the Position
The Candidate will report to the Head of US Bank Operational Risk responsible for the US Banks and also become part of the Firm’s Operational Risk Division team. The candidate will interface with bank senior management, Field Operational Risk, Business Units, Human Resources, and the Operational Risk First Line. The role will involve supporting the continued build out of the Sales Practices Oversight program and monitoring activities. It will require, building effective relationships and close coordination with stakeholders and risk experts in the risk teams, business lines and the bank.
Primary Responsibilities
The ED for Practices Oversight is within the US Bank Operational Risk team with accountability to Wealth Management Operational Risk Coverage, and is responsible for the design, implementation, monitoring, and reporting of the Sales Practices Oversight Program. The program’s framework consists of account opening and closing activity, complaints, incentive compensation, and product delivery. Responsibilities include:
• Provide leadership for second line of defense Sales Practice Activities
• Establish and maintain governance expectations for first and second lines of defense activities regarding Sales Practice affecting the US Banks
• Developing oversight and monitoring processes for account opening and closing activities, complaints, incentive compensation, and product delivery
• Implement and maintain the Sales Practices Oversight program
• Perform thematic analysis of sales practices data
• Engage with Field Operational Risk, Compliance and Human Resources to review results of monitoring and testing
• Provide reporting to risk governance committees
• Participate in associated governance committees at the Firm and the Bank to ensure issues are properly identified and escalated.
• Ensure linkage exists between sales practices oversight programs and risk assessments
• Serve as the Key point of contact with internal audit on Operational Risk Audits associated with Sales Practices.
• Forge relationships across Business Unit Divisions & Risk Silos, including Data & Analytics, Legal & Compliance, Operations, and other Risk Teams
• Monitor changes in regulatory environment
Qualifications
Skills required
• 10+ years of related experience in the banking industry
• 5+ years overseeing sales activities (HR, compliance, legal, operational risk or field)
• An undergraduate degree in business, finance or related fields
• Experience with wealth management or private banking client facing activities preferred
• Strong Data analysis (Microsoft Office suite) and reporting skills
• Strong sense of ownership, accountability, and entrepreneurial spirit
• Strong communication and project management skills
• Able to manage ambiguity and bring focus with recommendations on solving tactical and strategic challenges
• Ability to communicate in 360 degrees and act assertively and with tact on complex and sensitive issues with competing priorites
• Ability to work in a fast paced environment, both independently and as part of a team, and under strict deadline
• Strong Interpersonal skills, freely develops networks,
• Able to build consensus,
• Effective independent prioritization skills