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Vice President - RCSA Lead Coverage Officer (Operational Risk)
Morgan Stanley
New York, NY, United States
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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
The Operational Risk Division is responsible for the independent identification, analysis, reporting and escalation of all operational risk exposures arising from business activities, acting independently of business management and providing an effective challenge process.
Team Description
The Risk and Control Self-Assessment (RCSA) Program Team within Morgan Stanley's Operational Risk Department (ORD) is the first point of coordination for the businesses for Operational Risk (OR) RCSA initiatives and management, and provides an interface for consistent communication; assistance in identifying, managing and prioritizing risks and mitigation; and insight and alignment in strategic decision-making.
In order to perform this role, a high level of interaction is required with business areas at all levels of the organization. Frequent communication with business unit (BU) Risk Management is required as well as coordination with Internal Audit, Compliance, the wider ORD team and regional ORD counterparts. Major relevant ORD work-streams include roll-out of the “Next Generation” RCSA tool and process, RCSA facilitation, risk mitigation management, BU risk appetite management, taxonomy usage, ad hoc issue/loss analysis, and general risk analysis.
Primary Responsibilities
*Play a key role in facilitating the completion of the Firm’s Risk and Control Self-Assessment (RCSA) program, working closely with nominated Business Unit and Support groups to complete the assessments. Facilitation involves working with the business op risk coordinators (ORCs) to identify key risks and controls, evaluate inherent and residual risk, and establish mitigation plans;
*Perform independent quality assurance (QA) reviews of the RCSA at each phase of the assessment, working closely with the ORD Coverage and RCSA Support teams. This includes reporting and escalation of any issues identified and timely resolution of QA issues with the business;
*Collaborate with BU ORCs to ensure that Operational Risk related process, procedures and policies arecommunicated appropriately;
*Support the development and enhancement of the RCSA policies, procedures and related training program, providing input and working with the relevant ORD teams as required;
*Support the analysis of RCSA and related OR data to produce risk profile analysis for senior management and governance reporting;
*Support the development and roll-out of the “Next Generation” RCSA program, working closely with System Business Analyst / Technology teams;
*Collaborate with other work streams within ORD, e.g. Issues and Actions, Scenario Analysis, Key Controls, etc. as required for successful delivery of the RCSA Program;
*Participate and provide input to highlight any operational risk requirements in accordance with business and regulatory requirements that relate to internal controls and operational risk management;
Qualifications
Skills Required
*Bachelor’s Degree (minimum required education)
*The ideal candidate will have related experience at an investment banking institution or a background in management