Associate - Risk and Control Self-Assessment (RCSA) and Control Governance
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share five core values rooted in integrity, excellence and strong team ethic:
1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
5. Committing to Diversity and Inclusion
Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Firm Risk Management
Firm Risk Management (FRM) enables Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.
Our mission is to serve as the follow roles:
• Independent agent to set consistent principles and disciplines for risk management
• Strategic advisor to Firm management for setting risk appetite and allocating capital
• Industry leader to influence and meet regulatory standards
You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
Firm Risk Management's unique franchise promotes:
• Flat, flexible and integrated global organization
• Collaboration and teamwork
• Credible, independent decision-making
• Organizational influence
• Creative and practical solutions
• Meritocratic and diverse culture
The Morgan Stanley Baltimore office is a critical component of the Firm`s Global footprint and has 1,400 employees that provide support and services to the Investment Banking, Securities, Investment Management and Wealth Management Businesses.
Our office at Thames Street Wharf is located in the heart of Baltimore's Inner Harbor. Additionally, the Firm recently expanded downtown and occupies two floors at 100 South Charles in the new, up and coming neighborhood of Harbor Point, adjacent to historic Fells Point.
Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and comprehensive program for managing operational risk, both within each area and across the firm globally. Operational risk is the risk of financial loss or other potential damage to the firm's reputation due to inadequate or failed internal processes, people, systems, or from external events. This group designs, implements and monitors the company-wide operational risk program.
Background on the Team
The Risk and Control Self-Assessment (RCSA) and Control Governance Team within Morgan Stanley's Operational Risk Department (ORD) define the framework, standards and requirements, including roles and responsibilities for the Firm-wide RCSA and Control Governance programs. In addition, the team is the main point of coordination for the businesses in relation to these programs providing guidance, training and support throughout the execution process. In order to perform this role, a high level of interaction is required with business areas at all levels of the organization, internally.
• Facilitating the completion of the Firm's RCSA program, working closely with Business Unit and Support groups to support completion of their assessments, including communicating procedure requirements.
• Define and facilitate independent quality assurance reviews of the RCSA and Key Controls, working closely with ORD Risk Managers and Specialist Risk teams. This includes reporting and escalation of any issues identified and timely resolution of QA issues with the business
• Support the development and enhancement of the RCSA and Control Governance policies, procedures and related training program, providing input and working with the relevant ORD teams as required
• Analyze RCSA and related Operational Risk data to produce risk profile analysis for quality assurance, senior management and governance forums
• Collaborate with other work streams within ORD, e.g. Issues and Actions, Scenario Analysis, Key Controls, etc. as required for successful delivery of the RCSA and Control Governance Programs Qualifications:
• Four to seven years of financial services experience
• Experience with core banking, investment and trading products, regulations and typologies
• Strong risk, process and control assessment and validation skills
• A prior role within Operational Risk, consulting or internal audit covering risk, process and controls is preferable
• Strong technical understanding of the financial services regulatory environment, with a focus on Operational Risk
• Strong communication, analytic, risk management, and computing skills
• Advanced Excel knowledge; experience working with large data sets including deconstructing data sets and/or their associated queries; knowledge of general IT controls; business analyst experience
• An undergraduate degree (B.A., B.S., or equivalent) required