Assistant Vice President – Financial Crimes Risk Officer

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.

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.

As a market leader, the talent and passion of our people are 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 :

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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 considered the first line of defense and supports the onboarding, enhanced due diligence, negative news processes, among others, for Morgan Stanley.

Responsibilities :

The Assistant Vice President, Risk and Controls is responsible for assisting in the execution of the firm's first line Financial Crimes program for WM.

The role will be responsible for assisting in the execution of the strategic direction of the Financial Crimes programs, performing oversight responsibilities, and escalating potential gaps and risks.

This position will work closely with the business and the second- and third-line stakeholders to ensure the business is compliant with all relevant Financial Crimes laws and regulations through the proper implementation and execution of applicable MS' policies, standards, and procedures.

The Assistant Vice President, Risk and Controls will :

• Lead implementation for project deliverables for Financial Crimes Risk and Control assessments (RCSAs) under the firm-wide Non-Financial Risk Assessment (NFRA) program.
• Lead annual / ad hoc refresh for RCSAs and controls including creation of missing controls, control & risk ratings, descriptions, and issue linkages across FCR risks.
• Review and address second line feedback and challenges.
• Aid in the identification of control enhancement opportunities and implementation of preventative detective controls and testing.
• Create control testing / monitoring scripts and complete control monitoring / control testing for CILA controls as per policy requirements.
• Provide control monitoring results and reporting to relevant risk and control committees.
• Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by second line.
• Identify, escalate, and assist in the management of top & emerging risks, execution of heightened risk and high-risk portfolio reviews.
• Develop dashboard and metrics capturing relevant trend analyses on Financial Crimes-related RCSA, controls, and issue data.
• Provide advisory, guidance, and training to the first line teams.

Required Experience :

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.)

• Working knowledge of operational risk management and relevant experience with risk and controls assessments and control testing.
• Have an undergraduate degree in Business, Finance, or other related fields.
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
• Implementation and execution of Financial Crimes Programs requirements.
• 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 and comfort in high-paced and high-profile environments with minimum supervision.
• Multitask effectively and execute actions promptly.
• Identify issues, investigate root causes, and escalate promptly.
• Handle highly confidential information professionally and with appropriate discretion.

Additional Skills Desired :

• Knowledge of Financial Crimes regulatory requirements and expectations.
• Working knowledge of MS Office (Microsoft Excel / PowerPoint / Word / Access).
• Strong time management and planning skills.
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing.

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).

Expected base pay rates for the role will be between $100,000 and $135,000 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.

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