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 leading a team of Compliance Risk Assessment professionals responsible for executing the following Compliance risk assessments: Laws, Rules, and Regulations (LRR) annual assessment incorporating control ratings from both First and Second Lines of Defense stakeholders; Dynamic Compliance Risk assessments (DCRA) based on event-driven triggers; Risk Controls Self Assessments (RCSA) which is an operational risk assessment of compliance-related controls; and review of First Line of Defense risk assessment in accordance with the Risk Governance framework. This position will report to the Executive Director, Compliance Risk Assessment Officer on the Bank Compliance Risk Framework team.
This role will require in office attendance 3 days/week.
PrimaryResponsibilities:
Facilitate MSPBNA and MSBNA LRR across all First and Second Lines of Defense stakeholders, including:
- Refine the LRR methodology for assessing Compliance Risk
- Maintain the Ownership and Applicability (O&A) Matrix validating First and Second Lines of Defense Stakeholders requiring an understanding of the rules and the products
- Prepare project plan for LRR execution
- Project manage upgrades and changes to the LRR technology platform
- Maintain and update LRR Methodology, Procedures and Training decks
- Deliver training to participants
- Execute a Quality Assurance program including identification of gaps and/or inconsistencies
- Synthesize data and identify trends and potential risks
- Design and deliver reporting to senior management
Facilitate DCRA based on event-driven triggers
- Ongoing assessment of changes in compliance risk profiles of regulations and/or products based on regulation changes, new products, changes in strategy or market conditions and regulatory focus
- Perform analysis of changes in risk profiles
- Design reporting to Compliance senior management, bank management and governance committees
- Coordinate changes for inclusion in Annual LRR process
- Create and revise training and policies & procedures as necessary
Risk & Controls Self-Assessment (RCSA)
- Coordinate the execution of the RCSA across Bank Compliance
- Serve as primary Bank Compliance contact for Global RCSA alignment
- Prepare results for senior management
First Line Risk Assessment
- Review First Line Risk Assessments for consistency with LRR risk assessment results
- Identify trends, new products, volumes, issues that should be incorporated into the LRR assessment
Qualifications:
- 7-10 years of compliance and/or regulatory experience, with knowledge of the financial service industry, regulatory requirements, and experience in analyzing business risk and best practices
- Knowledge of banking regulations from OCC, CFPB, FDIC, and Federal Reserve, and how they apply to bank products. Knowledge of CFTC and SEC swap dealer regulations a plus
- Highly organized and detail-oriented with strong analytical skills
- Ability to remain flexible and manage competing priorities under demanding deadlines
- Strong interpersonal and teamwork skills, as well as excellent oral and written communication skills
- Ability to challenge responses from first and Second Lines of Defense stakeholder
- Ability to summarize and report on complex data in a concise manner and ability to identify trends and ensure consistency
- Strong technical skills required to create and maintain analysis and reporting (e.g. Excel, PowerPoint, etc.)
- Strong sense of ownership regarding work product
- Familiarity with Tableau, Dataiku and/or IBM OpenPages a plus
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).