Morgan Stanley
Financial Crimes Risk – Enhanced Due Diligence Assistant Vice President
Morgan Stanley, Purchase, New York, United States, 10577
Financial Crimes Risk – Enhanced Due Diligence Assistant Vice President
Morgan Stanley ("MS") is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley 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. The WM and U.S. Banks Financial Crimes Risk AVP is part of Wealth Management and the Morgan Stanley Private Bank, National Association and the Morgan Stanley Bank, NA (collectively, the “U.S. Banks”) on the WM and U.S. Banks Financial Crimes Risk Team.
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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow.
Department Profile The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The AML Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.
Responsibilities
Actively managing and leading processes supporting the Firm’s customer due diligence (CDD) and enhanced due diligence (EDD) program with a specific focus on source of wealth analysis and corroboration.
Act as the primary contact for the Financial Advisor team and manage ongoing outreach and engagement.
Assist pipeline management and overall engagement with the Business Unit, Technology, and Second Line of Defense Global Financial Crime partners.
Manage data and trend analysis related to the source of wealth review process and providing reporting to relevant stakeholders.
Perform financial crime risk reviews of MSPBNA products and services.
Serve as a point of contact for questions, issues and escalations related to the review of certain clients’ source of wealth.
Review and respond to monthly quality control findings related to the source of wealth review process.
Provide supervisory support and subject matter expertise, training, and guidance to Financial Crime Risk Analysts.
Support updates to procedures and desktop guidance related to the client onboarding process.
Assist and lead key projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities.
Partner with business partners involved in the account opening process.
Partner with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis.
Qualifications
Have 5+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
Have a bachelor’s degree in business, Finance, or other related field.
Experience focused on examining potential clients’ source of wealth during the client onboarding process.
Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements.
Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
Working knowledge of MS Office.
Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
Ability To
Take initiative, analyze, summarize, and communicate effectively.
Investigate, identify issues, impacts and trends to propose comprehensive solutions.
Multitask effectively and action matters promptly.
Work independently and in a team environment.
Handle highly confidential information with appropriate discretion.
Work in a high volume, fast paced environment; and
Work in a matrixed organization; leveraging resources across the organization to complete deliverables.
Skills Desired
Expertise in examining potential clients’ source of wealth during the client onboarding process; and/or
Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.
What You Can Expect From Morgan Stanley We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. Our teams are relentless collaborators and creative thinkers, fueled by diverse backgrounds and experiences. We offer attractive and comprehensive employee benefits and opportunities to grow within the firm.
For more information about Morgan Stanley offices, visit the official site at www.morganstanley.com.
Compensation
Base pay is between $100,000 and $135,000 per year at commencement, and is determined on an individualized basis. Total compensation may include commission, incentive, discretionary bonuses, and other Morgan Stanley-sponsored benefit programs.
It is the policy of the Firm to provide equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, sexual orientation, national origin, citizenship, disability, marital and civil partnership status, pregnancy, veteran or military 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).
Seniority level Mid-Senior level
Employment type Full-time
Job function Finance and Sales
Location: Purchase, NY
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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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow.
Department Profile The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The AML Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.
Responsibilities
Actively managing and leading processes supporting the Firm’s customer due diligence (CDD) and enhanced due diligence (EDD) program with a specific focus on source of wealth analysis and corroboration.
Act as the primary contact for the Financial Advisor team and manage ongoing outreach and engagement.
Assist pipeline management and overall engagement with the Business Unit, Technology, and Second Line of Defense Global Financial Crime partners.
Manage data and trend analysis related to the source of wealth review process and providing reporting to relevant stakeholders.
Perform financial crime risk reviews of MSPBNA products and services.
Serve as a point of contact for questions, issues and escalations related to the review of certain clients’ source of wealth.
Review and respond to monthly quality control findings related to the source of wealth review process.
Provide supervisory support and subject matter expertise, training, and guidance to Financial Crime Risk Analysts.
Support updates to procedures and desktop guidance related to the client onboarding process.
Assist and lead key projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities.
Partner with business partners involved in the account opening process.
Partner with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis.
Qualifications
Have 5+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
Have a bachelor’s degree in business, Finance, or other related field.
Experience focused on examining potential clients’ source of wealth during the client onboarding process.
Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements.
Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
Working knowledge of MS Office.
Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
Ability To
Take initiative, analyze, summarize, and communicate effectively.
Investigate, identify issues, impacts and trends to propose comprehensive solutions.
Multitask effectively and action matters promptly.
Work independently and in a team environment.
Handle highly confidential information with appropriate discretion.
Work in a high volume, fast paced environment; and
Work in a matrixed organization; leveraging resources across the organization to complete deliverables.
Skills Desired
Expertise in examining potential clients’ source of wealth during the client onboarding process; and/or
Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.
What You Can Expect From Morgan Stanley We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. Our teams are relentless collaborators and creative thinkers, fueled by diverse backgrounds and experiences. We offer attractive and comprehensive employee benefits and opportunities to grow within the firm.
For more information about Morgan Stanley offices, visit the official site at www.morganstanley.com.
Compensation
Base pay is between $100,000 and $135,000 per year at commencement, and is determined on an individualized basis. Total compensation may include commission, incentive, discretionary bonuses, and other Morgan Stanley-sponsored benefit programs.
It is the policy of the Firm to provide equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, sexual orientation, national origin, citizenship, disability, marital and civil partnership status, pregnancy, veteran or military 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).
Seniority level Mid-Senior level
Employment type Full-time
Job function Finance and Sales
Location: Purchase, NY
#J-18808-Ljbffr