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Vice President - US Banks Operational Risk Coverage
Morgan Stanley
New York, NY, United States
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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.
Background on the Position
The individual will join Morgan Stanley’s Operational Risk Department (ORD) US Banks coverage team. This role acts as an independent, second line of defense function responsible for providing operational risk oversight across both Morgan Stanley Private Bank, NA (MSPBNA) and Morgan Stanley Bank, NA (MSBNA).
Position Description
The Candidate will report to the Executive Director of Operational Risk for The US Banks and also become part of the Firm’s Operational Risk Division team. The candidate will interface with bank senior management, the Bank’s Operational Risk first line of defense team, support teams from various product line teams, cross-entity risk teams, cross-divisional teams, Information Technology, Legal and Compliance, and others. The role will involve building relationships and close coordination with line managers and risk experts in business lines and the bank.
Position Responsibilities
-Leverage existing Firm and Department Reporting to maintain and update Operational Risk Reporting to the various Bank and Firm Risk and Governance Committees.
-Serve as the key relationship manager with the Bank’s BU Operational Risk Department.
-Support the operational risk incident and issue capture, monitoring, and reporting framework.
-Support the US Banks Risk and Control Self Assessment (RCSA) program, and proactively integrate operational risk incidents and other varying processes into continual assessments.
-Support coordination of coverage for Internal Audit, Regulatory Exams, and Compliance Assessments.
-Develop and maintain Operational Risk policies and procedures
-Develop knowledge of products within the Private Banking Group that are provided by US Banks, and leverage expertise to provide support to Product Specialists and Risk Leads.
-Implement a peer risk and control testing program for designated product coverage.
-Forge relationships across divisions, including Information Technology, Legal & Compliance, Operations, Finance.
Qualifications
Skills Required
-Previous experience supporting an Operational Risk framework that includes the four data elements, application of risk data to risk measurement, policy and procedures, reporting, and quality assurance.
-Effective interpersonal skills, freely develops networks, builds consensus, prioritizes effectively, and develops alliances across an organization.
-Management experience in developing teams and building processes to ensure organizational effectiveness, efficiency and transparency to serve the needs of multiple stakeholders with varying objectives.
-Strong risk analysis and ability to identify root causes for risk events.
-Experience with regulatory interactions, presentation, and material preparation.
-Ability to work in a fast paced environment, both independently and as part of a team.
-Highly motivated self-starter with multi-tasking abilities, and the ability to meet tight deadlines with conflicting agendas.
-Strong sense of ownership and accountability for commercial output, the control environment, and people development.
-Effective summary level written and verbal communication experience.
Skills Desired
-In-depth understanding of technical risk and control environments, such as experiences in informational security and business continuity management.
-Broad knowledge of Banking Business and Functions.
-Interest in developing objectives and new processes to support