Global Financial Crimes: Customer Risk Ranking Specialist
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.
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 integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Global Financial Crimes (GFC) coordinates day-to-day implementation of the Firm's enterprise-wide financial crime prevention efforts. GFC includes several legal and compliance disciplines and has responsibility for governance, oversight and execution of the Firm's Anti-Money Laundering (AML), Economic Sanctions, Anti-Corruption and Government and Political Activities Compliance programs. GFC also develops and/or assists in the development of appropriate policies and procedures, including those designed to assist the business units to know their clients and conduct appropriate due diligence and to prevent, detect and report potentially suspicious activity. GFC has dedicated coverage managers and teams of analysts who advise and counsel each business unit regarding its AML, economic sanctions and anti-corruption obligations and its particular clients and transactions.
Background on the Team
The GFC KYC (Know Your Customer) Systems group within GFC delivers and maintains the Firm's Enterprise Customer Risk Ranking ("ECRR") model that provides a consistent approach to quantifying Bank Secrecy Act/Anti-Money Laundering ("BSA/AML") risk for new and existing customers across the Firm.
The GFC Customer Risk Ranking Specialist reports to the KYC Systems Vice President.
The GFC Customer Risk Ranking Specialist will:
- Maintain and update documentation surrounding the design of the Firm's Enterprise Customer Risk Ranking Model ("ECRR")
- Assist in the development, maintenance, enhancement, and optimization of ECRR to meet new or evolving regulatory requirements, industry best practices and Firm risk tolerances
- Serve as point of contact for Regional GFC, Risk, and Onboarding teams, to respond to inquiries and provide advice regarding ECRR (model and user interface); Analyze data (typically within Excel) to facilitate related discussions and decision-making regarding model design
- Perform root-cause analyses associated with potential anomalies detected in the ECRR model performance by liaising with the related technology teams
- Prepare and document findings in a concise and thorough manner for written communication to stakeholders of various seniority
- Draft and revise training materials as the ECRR model and user interface evolve
- Maintain and execute Excel macros for monthly data governance reports
- Assist in the performance of ECRR entitlements reviews
- Assist in the preparation of periodic and ad hoc ECRR reports for senior management, MS Boards and regulators
- Track and report ECRR model changes and results of model tuning and optimization activities to GFC management, the Model Risk Control group, and the Internal Audit groups
- Participate in Firm, GFC and Compliance Committees (as applicable)
Other GFC Activities
- Participate in special projects impacting various areas within GFC
- Maintain awareness of current industry rules, regulations and best practices
- Draft and update AML policies and procedures, as needed
Skills Required (essential)
Candidates must possess:
- A 4 year college degree with strong academic credentials with a degree in business, economics, finance, management information systems, management, risk management, or related fields from a top tier university
- Keen written, interpersonal communication, and presentation skills coupled with scrupulous work product
- Ability to communicate quantitative analysis results in a clear, precise, and actionable manner to non-technical audience
- Working knowledge of SQL, VBA, and MS Office (specifically Excel for data analysis and PowerPoint for presentation)
- An understanding of data structures, financial products, financial markets and banking, including retail and/or broker-dealer product knowledge
- Openness to receiving and applying feedback on work product from peers and supervisor(s)
- Ability to handle highly confidential information professionally and with appropriate discretion
- Anti-Money Laundering Specialist certificate by ACAMS or equivalent AML certification/license - or complete certification within 15 months of hire
The Firm's ideal candidate will have:
- Experience or understanding of Know Your Customer ("KYC") obligations and customer onboarding processes in the financial industry
- Understanding of financial markets, institutional sales & trading, retail wealth management, and bank lending relative to financial crimes a strong plus
- 1-5 years of professional experience within the banking industry or within project management broadly
- Strong analytical thinking and critical reasoning skills, with the ability to be self-motivated and work independently
- Understanding of models and statistical data analysis