Morgan Stanley Home Loans has centralized its operations and is expanding its retail Mortgage Lending Division. We are looking for the best of the best to provide premier mortgage services to our clients. As part of Morgan Stanley Wealth Management, we have a partnership with Morgan Stanley's retail brokerage network that provides a limitless proprietary source of inbound business.
The Vice President – Business Risk & Control candidate will be a member of our Home Loans Control and Governance team. The candidate will be responsible for acting as the central point of contact with our partners including Compliance, Audit, Legal, Operational Risk, Financial Control Group, Technology, Operations as well as, Home Loans management for Control and Risk Management functions. The business scope of these activities covers the client lead process utilizing subsidiary applications and digital platforms through processing, underwriting, closing/funding and servicing. This role is under the supervision of the Vice President – Business Risk & Control.
The ideal candidate has experience in various risk management functions and with collaborating with Residential Mortgage functional partners.
Primary Responsibilities
- Manage risk initiatives within Home Loans – Business Continuity Planning, Business Unit testing, Compliance Testing, Servicing QC Oversight, HMDA reporting
- Manage Business Continuity Planning activities required from the firm for Home Loans organization
- Review 2nd Line Compliance testing and monitoring results
- Perform root cause analysis and identify trends
- Work with business to implement tactical and strategic solutions and controls
- Monitor the execution of remediation, where applicable
- Work with Risk partners such as Legal, Compliance, Central Business Risk and 3nd Line Risk Groups to resolve issues and obtain guidance as necessary
- Manage emerging/ad-hoc Home Loan projects to remediate any process or control gaps identified
- Prepare risk management and assessment updates to Senior Management for all assignments
- Ensure Compliance and Operations Risk approves process changes to confirm regulatory compliance
- Manage the publication and communication process for risk issues, assessments, and initiatives
- Evaluate processes within Home Loans to ensure efficiencies
- Support Home Loans employees with questions regarding risk and controls to prevent errors
- Ensure firm policies and procedures are monitored to confirm working as designed and expected
- Closely monitor new processes to ensure efficient and effective
- Prepare and provide status updates to the Business Control and Assessment Lead for all assignments
- Perform other risk management tasks as directed by the Head of Control and Governance for Mortgage
- 7+ years of Risk Management experience
- Deep Mortgage Industry knowledge (preferred)
- Experience in risk assessments and exams – Regulator, Internal Audit, Operational Risk and Compliance
- Must have the ability to build consensus across teams
- Successful management of risk initiatives and teams
- Working knowledge of Loan Origination Systems (LOS)
- Experience working with cross-functional teams
- Must have excellent teamwork orientation and the ability to work independently in a fast moving environment
- College degree required, advance degree a plus
- Private Bank experience (preferred)
- Strong Computer skills a must; familiar with how to navigate SharePoint and a Microsoft Windows environment and have a strong knowledge of Microsoft Office software
Skills Required
- Ability to build and maintain strong relationships with business users and risk partners
- Ability to create clear and concise communications using strong analytic and writing skills
- Ability to create executive summaries and issues/risks summaries
- Ability to create PowerPoint presentations for business users or senior management that summarizes risk issues and assessment results
- Proficient in excel with VLOOKUP's, Charts, graphs and data analytics
- Strong presentation skills for a senior audience
- Confident, proactive and independent self-starter
- Proven track record to work across organizational boundaries
- Adept at working in a fast-paced, high-energy environment
- Strong analytical capabilities and problem solving
- Strong organizational skills
- Ability to plan and prioritize for deadlines
- Ability to multi-task and work under tight timelines
- Solid follow-up and follow through
- Excellent attention to detail
- Ability to navigate the Loan Origination System (LOS), Risk Incident and Issue Systems
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).
For New York, expected base pay rates for the role will be between $120,000 and $180,000 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.