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Executive Director - Finance and Treasury Risk Coverage Officer (Operational Risk)
Morgan Stanley
New York, NY, United States
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Description
Position Description:
Morgan Stanley seeks a professional with previous experience in Finance/Treasury division of a bank, to serve as an Executive Director in the Firm’s Operational Risk Department, which provides independent oversight of the Firm’s trading, lending, wealth and investment management activities and those functions supporting the businesses.
Based in New York, this role is on the Operational Risk Management team and will be the coverage officer for the Firm’s finance and treasury functions.
The Firm has developed an operational risk management framework to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The framework is deployed across business units, infrastructure groups and control functions globally. The framework is based on a “Three Lines of Defense” model:
1st Line: Business Units/Infrastructure Groups own their operational risk and are responsible for its management;
2nd Line: Independent Risk Management provides independent governance and oversight of operational risk management across the Firm and partners with business units and infrastructure groups to anticipate, mitigate and report on operational risk;
3rd Line: Internal Audit provides independent assessment and validation.
The Operational Risk Department (ORD), and this role, operates as part of the second line of defense.
ResponsibilitiesThe ORD (Operational Risk Department) risk management team works closely with ORD colleagues globally. The principal role of the operational risk manager is to partner with the areas of coverage, proactively identifying, assessing and driving mitigation of operational risks arising within Morgan Stanley Institutional Securities Group and other related legal entities. This is achieved by working closely across all three Lines of Defense and the businesses and functions, in addition to independent actions, challenge and interventions by ORD.
Specific Responsibilities
• Working collaboratively in a high performing team responsible for identifying, assessing, reporting and capturing operational risk information; partnering with the finance and treasury units to develop a perspective on operational risk; and ensuring consideration of with evolving regulatory expectations
• Lead risk assessments performing critical analysis as necessary
• Monitor data used to identify heightened risks and help develop risk remediation recommendations
• Perform deep dives into material operational risk events (internal and external) and analyses of thematic operational risks
• Lead Scenario Analyses activities where significant and emerging risks are assessed
• Contribute to the development of presentations for executive management and senior risk managers, including reporting to Boards and Committees
• Lead and oversee the review and approval of New Products
• Build solid relationships in the Finance, Operations, Treasury ,Risk Management and other support functions related to the area of coverage; develop strong networks across the Firm in order to ensure effective management of operational risk
• Carry out operational risk assessments; develop in-depth understanding of the business and operational risks within the coverage area
• Assist the Division in highlighting their Key Operational Risks and management of risk levels against designated risk tolerance levels
• Develop analytical capabilities to support the operational risk assessment process for business areas, risk types, regions and legal entities
• Lead role in assisting with enhancement of the Operational Risk program and embedding of the framework and standards
Qualifications
Skills Required
• Bachelor’s degree required; economics, finance, business or another analytical discipline preferred. Master’s degree is a plus
• Deep knowledge of the Finance/Treasury functions across bank
• A solid understanding of risks and requisite controls required to manage operational risk in the business
• Ability to constructively challenge senior members of the organization to drive forward a strong risk culture
• Excellent communication skills, both verbal and written, and an ability to present ideas concisely and persuasively
• Strong interest in financial services and risk management
• Ability to work on challenging assignments in a dynamic environment, synthesize information, distill relevant facts and reach logical conclusions
• Demonstrated ability to: prioritize competing responsibilities, work under pressure, meet challenging deadlines and can build and maintain effective business relationships
• Extensive knowledge and understanding of bank regulatory frameworks, especially relating to operational risk management
• Confidence to take ideas forward and to challenge others, where appropriate
• Proven ability to anticipate and identify risks and effective mitigants
• Experience in meeting the expectations of U.S. regulators
• Strong organization skills with the ability to multitask and prioritize; ability to work under pressure and to tight deadlines;
• Ability to work in a team environment, building and maintain a network of contacts and coordinating with a large number of stakeholders
• Experience in management by influence, facilitating and gaining consensus