Morgan Stanley
Operational Risk Officer - Financial Crimes Risk - Vice President
Morgan Stanley, Purchase, New York, United States, 10577
Operational Risk Officer - Financial Crimes Risk - Vice President
Join to apply for the
Operational Risk Officer - Financial Crimes Risk - Vice President
role at
Morgan Stanley . Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—institutional securities, wealth management (WM), and asset management. The firm provides comprehensive financial advice and services to clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services. As a market leader, the firm emphasizes values such as doing the right thing, putting clients first, leading with exceptional ideas, and commitment to diversity and inclusion. Morgan Stanley supports professional growth and offers a broad base for building a career. Department Profile
The WM Financial Crimes Risk Team is embedded within the Firm\'s business line. It is responsible for identifying, assessing, and escalating potential money laundering, economic sanctions, tax-evasion, bribery, corruption, and reputational risk issues associated with higher risk client types. The WM Financial Crimes Risk Team is the first line of defense and supports onboarding, enhanced due diligence, negative news processes, among others, for Morgan Stanley. Responsibilities
Lead end-to-end risk identification and assessment for 1L owned Financial Crimes Risks and controls by collaborating with various 1L teams for Wealth Management and Banks to assess the impact of financial crimes risks. Plan and perform internal reviews of procedures and controls to ensure controls are adequately designed and operating effectively. Proactively engage appropriate stakeholders to lead the implementation of enhanced processes and controls for identified gaps or opportunities. Develop reporting and effectively communicate risk management issues and internal control deficiencies with proposed solutions. Lead implementation for project deliverables for Risk and Control assessments under the firm-wide Non-Financial Risk Assessment (NFRA) program, including creation of risk records under NFRA, mapping of controls, and completion of assessments for 1L owned Financial Crimes risks. Review end-to-end processes for creating missing controls, refreshing control ratings, descriptions, and issue linkages across 1L FCR risks. Address second line feedback and challenges to the risk and controls strategy implementation. Create control testing/monitoring scripts and support control reviews as required. Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and investigations as recommended by second line. Assist with designing and developing comprehensive action plans (e.g., regulatory, strategic, transformation initiatives or policy implementations). Collaborate with internal stakeholders including Business Leaders, Second Line, Technology, and Internal Audit. Provide advisory, guidance, and training to the first line teams. Required Experience
7+ years of relevant experience managing implementation of an operational risk framework including risk and controls assessments and control management. Strong understanding of Financial Crimes Risk. Relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, SEC, OCC, Federal Reserve) is a plus. Bachelor\'s degree in Business, Finance, or related fields. Strong leadership qualities with the ability to manage teams, a strong work ethic, and integrity. Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes. Ability To
Analyze, summarize, and communicate effectively. Operate with confidence in high-paced, high-profile environments with minimal supervision. Multitask effectively and execute actions promptly. Identify issues, investigate root causes, and escalate promptly. Handle highly confidential information professionally and with discretion. What You Can Expect From Morgan Stanley
We are committed to maintaining first-class service and high standards of excellence. Our values guide decisions to do what\'s best for clients, communities, and more than 80,000 employees in 1,200 offices across 42 countries. Morgan Stanley offers opportunities to work with diverse and talented people, with support for career growth and a broad range of employee benefits and perks. There is also opportunity to move across the business for those who show passion and grit in their work. For more, copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Expected base pay rates for the role will be between $140K-$200K per year at the commencement of employment. Base pay is individualized and may be part of a total compensation package that may include commission, incentive compensation, discretionary bonuses, and other benefits. 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, gender identity or expression, national origin, citizenship, disability, marital status, 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
Executive Employment type
Full-time Job function
Finance and Sales Referrals increase your chances of interviewing at Morgan Stanley. Get notified about new Risk Management Officer jobs in Purchase, NY.
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Join to apply for the
Operational Risk Officer - Financial Crimes Risk - Vice President
role at
Morgan Stanley . Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—institutional securities, wealth management (WM), and asset management. The firm provides comprehensive financial advice and services to clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services. As a market leader, the firm emphasizes values such as doing the right thing, putting clients first, leading with exceptional ideas, and commitment to diversity and inclusion. Morgan Stanley supports professional growth and offers a broad base for building a career. Department Profile
The WM Financial Crimes Risk Team is embedded within the Firm\'s business line. It is responsible for identifying, assessing, and escalating potential money laundering, economic sanctions, tax-evasion, bribery, corruption, and reputational risk issues associated with higher risk client types. The WM Financial Crimes Risk Team is the first line of defense and supports onboarding, enhanced due diligence, negative news processes, among others, for Morgan Stanley. Responsibilities
Lead end-to-end risk identification and assessment for 1L owned Financial Crimes Risks and controls by collaborating with various 1L teams for Wealth Management and Banks to assess the impact of financial crimes risks. Plan and perform internal reviews of procedures and controls to ensure controls are adequately designed and operating effectively. Proactively engage appropriate stakeholders to lead the implementation of enhanced processes and controls for identified gaps or opportunities. Develop reporting and effectively communicate risk management issues and internal control deficiencies with proposed solutions. Lead implementation for project deliverables for Risk and Control assessments under the firm-wide Non-Financial Risk Assessment (NFRA) program, including creation of risk records under NFRA, mapping of controls, and completion of assessments for 1L owned Financial Crimes risks. Review end-to-end processes for creating missing controls, refreshing control ratings, descriptions, and issue linkages across 1L FCR risks. Address second line feedback and challenges to the risk and controls strategy implementation. Create control testing/monitoring scripts and support control reviews as required. Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and investigations as recommended by second line. Assist with designing and developing comprehensive action plans (e.g., regulatory, strategic, transformation initiatives or policy implementations). Collaborate with internal stakeholders including Business Leaders, Second Line, Technology, and Internal Audit. Provide advisory, guidance, and training to the first line teams. Required Experience
7+ years of relevant experience managing implementation of an operational risk framework including risk and controls assessments and control management. Strong understanding of Financial Crimes Risk. Relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, SEC, OCC, Federal Reserve) is a plus. Bachelor\'s degree in Business, Finance, or related fields. Strong leadership qualities with the ability to manage teams, a strong work ethic, and integrity. Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes. Ability To
Analyze, summarize, and communicate effectively. Operate with confidence in high-paced, high-profile environments with minimal supervision. Multitask effectively and execute actions promptly. Identify issues, investigate root causes, and escalate promptly. Handle highly confidential information professionally and with discretion. What You Can Expect From Morgan Stanley
We are committed to maintaining first-class service and high standards of excellence. Our values guide decisions to do what\'s best for clients, communities, and more than 80,000 employees in 1,200 offices across 42 countries. Morgan Stanley offers opportunities to work with diverse and talented people, with support for career growth and a broad range of employee benefits and perks. There is also opportunity to move across the business for those who show passion and grit in their work. For more, copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Expected base pay rates for the role will be between $140K-$200K per year at the commencement of employment. Base pay is individualized and may be part of a total compensation package that may include commission, incentive compensation, discretionary bonuses, and other benefits. 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, gender identity or expression, national origin, citizenship, disability, marital status, 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
Executive Employment type
Full-time Job function
Finance and Sales Referrals increase your chances of interviewing at Morgan Stanley. Get notified about new Risk Management Officer jobs in Purchase, NY.
#J-18808-Ljbffr