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First Line Operational Risk Manager – Vice President
Morgan Stanley
New York, NY, United States
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MSBNA First Line Operational Risk Manager – Vice President
Description
Morgan Stanley is a leading global 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.
The Operational Risk Manager role is with Morgan Stanley Bank, NA (MSBNA) and is responsible for supporting the Bank’s operational risk management processes, including operational risk incidents, key risk indicators, business unit risk assessments, and reports to the Bank’s First Line Operational Risk Officer.
Job Responsibilities:
• Risk & Control Self-Assessments (RCSA) - Responsible for the execution and ongoing development of the Bank’s first line risk assessment process. Assessment covers the Bank at the enterprise level, inclusive of business units, support functions and second line functions.
• Business Unit Risk Assessments (BURA) – Lead the quarterly BURA process, requiring participation in front office review meetings across of the Bank’s business units. ). Responsible for production of meeting summaries, risk reporting and ongoing development of the assessment program.
• Key Risk Indicators (KRIs) – Responsible for the design and development of the Bank’s KRI program, ensuring KRIs are correctly calibrated, and relevant. Produce monthly KRI reporting, including relevant commentary and remediation actions. Ensure that ongoing assessment of KRIs is undertaken and annual review requirements are met.
• New Product Approval Due Diligence - Responsible for the front-to-back operational risk analysis of all new products and transactions. Analysis includes product / transaction process mapping, risk and control identification, and risk assessment, inclusive of scenario analysis where applicable.
• Scenario Analysis – Support scenario analysis workshops to evaluate the impacts of scenario events across the Basel risk categories, supporting the computation of economic risk capital and DFAST.
• Operational Risk Incidents (ORIs) – Responsible for the review of ORIs, leading incident review meetings with the business units and support functions to ensure accuracy and clear articulation of the issue and resolution plans, in addition to ensuring a comprehensive understanding of the issue. Produce monthly reporting on issues and associated recoveries via the Bank’s indemnification process.
• ORI Indemnification – Responsible forthe management of the Bank’s indemnification process, ensuring that the Bank recovers operational losses from the affiliate responsible for the loss, meeting Reg W 23B requirements.
• Participate in various initiatives as required in support of the First Line Operational Risk Management function including Risk & Control Self-Assessment (RCSA), Control Testing, new product approval, and issue management.
• Ensure appropriate governance of role relevant policies and procedures, and the Bank’s framework adherence to key Office of the Comptroller of the Currency (OCC) regulatory requirements.
Qualifications
Required Skills:
• Bachelor’s degree in Finance, Business or other related field.
• 8+ years of relevant experience in operational risk management, compliance or audit. Experience in risk analysis within the financial services industry is a plus.
• Ability to analyze a function, process, or transaction, and identify the key risks and controls within it.
• Excellent verbal and written communication skills, including PowerPoint/presentation skills and the ability to influence and interact with senior members of the Bank.
• Strong interpersonal skills - Freely develops networks, builds consensus, prioritizes effectively, and develops alliances across organizations.
• Ability to work in a fast paced environment, both independently and as part of a team, and under tight deadlines.