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Assistant Vice President, Operational Risk
Morgan Stanley
Purchase, NY, United States
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Description
Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Global Wealth Management via Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. WM provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement and trust services.
Morgan Stanley Private Bank, National Association (“Bank” or “MSPBNA”) provides deposit and lending products and services to serve the needs of WM clients and seeks a Regulatory Risk Officer. This individual will assist in the implementation and ongoing enhancement of a first line of defense compliance monitoring program in accordance with the Bank’s Risk Governance Framework.
This position will be based in Purchase, NY.
Key Responsibilities:
Regulation W (“Reg W”)
• Monitor Bank’s transactions with affiliates and limits on a daily basis
• Prepare quarterly regulatory and internal reporting
• Conduct periodic monitoring for compliance Bank’s activities for compliance with Reg W
• Support the implementation of automated enhancements to replace manual/semi-manual controls
• Participate in internal audits and compliance tests
• Draft, update and review maintain Reg W Office and business/support area procedures
New Product Approval (“NPA”)
• Own the agenda of the Bank’s New Product Approval Committee (NPAC) and work with the business to ensure necessary materials are presented to the NPAC
• Conduct NPA Quality Assurance reviews and drive remediation efforts throughout the NPA process to ensure compliance with the Bank’s standards
Qualifications
• 3+ years compliance, internal audit or operational risk experience in the banking industry a plus
• Experience with Regulation W a plus
• Experience with new product approval processes a plus
• Strong attention to detail, priority management, follow through and multi-tasking skills required
• Ability to build strong working relationships with business units and support partners required
• Ability to work in a fast-paced work environment and meet deadlines with minimal supervision required
• Highly motivated individual with outstanding record of professional achievement