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.
The Bank Compliance Department is charged with oversight and coordination of the Compliance program for the U.S. Banks (Morgan Stanley Bank, N.A. and Morgan Stanley Private Bank, National Association). The candidate will join the department as a member of the Bank Testing team and will perform Bank Regulatory Compliance reviews and controls testing.
Keys objectives include the identification of Regulatory Risk Control design deficiencies and the performance of testing to determine if Regulatory Risk control performance deficiencies exist.
This role will require in office attendance 3 days/week.
Primary Responsibilities:
·Perform testing of various Morgan Stanley business lines, products, functions, and processes in order to assess and review compliance with legal, regulatory, and internal Firm requirements.
·The testing process includes test execution (via interviews, process walkthroughs, observations, re-performance of key controls, etc.)
The testing process responsibilities include:
·Planning: Reviewing background information on regulatory and policy requirements, reviewing relevant procedures, and processed, identifying the key controls to be tested, and determining appropriate testing approaches (e.g., sampling methodologies)
·Execution: Performing fieldwork, reviewing relevant transactions and/or data, evaluating controls and assessing compliance with rules, regulations and Firm policies and procedures
·Workpaper Maintenance: Detailed documentation of fieldwork, including testing parameters, activities, and findings in the testing work paper system, in accordance with the Firm's testing standards
·Reporting: Engaging stakeholders on findings, preparing test reports, and collaborating on corrective action plans
·Closure Verification: Confirming and tracking remedial action plans to completion and re-testing the relevant processes, where needed
·Track and monitor issue remediation and timely escalate emerging issues to senior management.
·Prepare well written reports.
·Complete reviews according to schedule.
·Perform additional tasks as required.
·At least 7 years of experience performing Bank Regulatory testing / auditing within a large Bank.
·Large US Bank specific experience required.
·Experience with the regulators governing financial institutions a plus, those may include the FRB, FINRA, OCC, CFPB, FDIC, SEC, CFTC and the FFIEC
·Experience with testing / auditing Banking regulations including but not limited to : Regulation B (Equal Credit Opportunity Act), CC (Expedited Funds Availability Act), DD (Truth in Savings Act), E (electronic Funds Transfer Act),G (Safe Act), GG (Unlawful Internet Gambling Enforcement, E-Sign Act, CRA (Community Reinvestment Act), FIRREA (Financial Institutions Reform Recovery and Enforcement Act), Flood Disaster Protection Act, U (Margin Loans), W (Transactions with Affiliates),P (Privacy), UDAAP,V (Fair Credit Reporting Act), Z (Truth in Lending Act), CAN-SPAM
·Investigative skillsresearch, inquiry and analysis, interviewing, testing, detailed oriented, risk assessment capabilities
·Ability to research and resolve issues independently while working across teams to acquire information
·Ability to handle a fast-paced environment with minimum supervision, be proactive/self-starter and successfully meet established deadline requirements
·Compliance/Audit/Risk experience in the financial services industry, a regulator, or a self-regulatory organization is a strong plus.
·Excellent written and verbal communication skills.
·Proficiency with Microsoft Excel
·Exceptional reasoning and analytical skills.
·Robust time and organizational management techniques.
·Ability to work independently and with team members and partners across the organization to complete deliverables.
Certification (preferred but not required)
·Certified Regulatory Compliance Manager (CRCM)
·Certified Public Accountant (CPA)
·Certified Internal Auditor (CIA)
Expected base pay rates for the role in New York will be between $110,000 and $190,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).