New Client New Business KYC/CIP - Analyst/Associate - Firmwide Operations New Client New Business KYC/CIP -  …

Morgan Stanley
in Baltimore, MD, United States
Permanent, Full time
Be the first to apply
Competitive
Morgan Stanley
in Baltimore, MD, United States
Permanent, Full time
Be the first to apply
Competitive
New Client New Business KYC/CIP - Analyst/Associate - Firmwide Operations
Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Firmwide Operations include Shared Services and Banking Operations (SSBO). SSBO provides utility processing services to Global Operations. By functionalizing processes across segments, SSBO realizes efficiencies through scale, location strategy and adoption of best practices. SSBO provides quality operational core processes at an optimal price point, with maximum benefit to Morgan Stanley business lines.

Client Regulatory Services is a global group with offices in New York, Baltimore, London, Tokyo, and Hong Kong. The group operates within Shared Services Banking Operations (SSBO) and partners closely with the Legal and Compliance Division, Risk Management and Client and Account Data (CADO) to assist the Firms Sales and Trading and Wealth Management to comply with regulatory obligations that involve data and documentation requirements.

The New Client New Business team provides Operational support to meet the firms Global KYC Policy requirements related to Customer Identification Program (CIP) and other regulatory data. It facilitates CIP when new clients are on-boarded and during ongoing periodic KYC reviews. In addition, the group is responsible for several Non-KYC regulatory programs and checks from front to back as well as project work related to the regulatory environment.

Core Responsibilities:
- Perform CIP (Client Identification Policy) and know your client checks on new clients in accordance with firm?s policies, standards and procedures
- Refresh data and documentation for existing clients on an ongoing basis including at periodic reviews
- Update firm systems and databases with information / documentation obtained from clients
- Handle inquiries and ad hoc requests from internal clients including Compliance where required
- Perform remediation or uplift of client records to required standards where needed in line with defined procedures
- Produce high quality error free work independently on a timely basis with at expected throughput rates
- Ability to handle volume spikes and prioritize work including ad-hoc requests and projects to meet business demands in a timely manner
- Respond to change e.g. regulation change, new business and/or technology projects.
- Assist manager(s) in providing status updates to management on a regular basis to create transparency and to reduce risks.
- Coordinate and execute projects related to client onboarding and regulatory data with global team members
- Monitor onboarding queues, and advise internal stakeholders on outstanding regulatory requirements
- Face-off with key stakeholders in the onboarding process, including Business Units, Compliance, Risk, etc. to manage day-to-day Run-The-Bank (RTB) functions of NCNB including regulatory & product documentation for client on-boarding, data management, and data quality management.
- Review and respond appropriately to exception reports and management reports designed to help manage risk (regulatory risk, operational risk, etc), workload, and performance of staff.
- Improve quality and effectiveness of these reports and coordinate with others to establish new reports where needed.
- Perform Quality Assurance (QA) checks on a regular basis, address issues identified in QA checks, and improve existing QA checks.
- Perform user acceptance testing for enhancements to technology-based processes, controls, and applications.
- Create, improve and maintain written procedures.
- Respond to inquiries from Legal and Compliance, Internal Audit, and regulators.
- Perform CIP (Client Identification Policy) and know your client checks on new clients in accordance with firm?s policies, standards and procedures
- Refresh data and documentation for existing clients on an ongoing basis including at periodic reviews
- Update firm systems and databases with information / documentation obtained from clients
- Handle inquiries and ad hoc requests from internal clients including Compliance where required
- Perform remediation or uplift of client records to required standards where needed in line with defined procedures
- Produce high quality error free work independently on a timely basis with at expected throughput rates
- Ability to handle volume spikes and prioritize work including ad-hoc requests and projects to meet business demands in a timely manner
- Respond to change e.g. regulation change, new business and/or technology projects.
- Assist manager(s) in providing status updates to management on a regular basis to create transparency and to reduce risks.
- Coordinate and execute projects related to client onboarding and regulatory data with global team members
- Monitor onboarding queues, and advise internal stakeholders on outstanding regulatory requirements
- Face-off with key stakeholders in the onboarding process, including Business Units, Compliance, Risk, etc. to manage day-to-day Run-The-Bank (RTB) functions of NCNB including regulatory & product documentation for client on-boarding, data management, and data quality management.
- Review and respond appropriately to exception reports and management reports designed to help manage risk (regulatory risk, operational risk, etc), workload, and performance of staff.
- Improve quality and effectiveness of these reports and coordinate with others to establish new reports where needed.
- Perform Quality Assurance (QA) checks on a regular basis, address issues identified in QA checks, and improve existing QA checks.
- Perform user acceptance testing for enhancements to technology-based processes, controls, and applications.
- Create, improve and maintain written procedures.
- Respond to inquiries from Legal and Compliance, Internal Audit, and regulators.

Qualifications:

Qualifications:
- Familiarity with current regulatory environment, KYC and AML Compliance policies
- Knowledge and understanding of the various financial products offered across business lines.
- Solid knowledge of industry regulations, KYC and AML Compliance policies and how they are applied in a U.S. banking environment.
- Strong understanding of the Client Onboarding Process and documentation/information specific to KYC/AML.
- Knowledge and understanding of the various financial products offered across business lines.
- Excellent analytical and problem solving skills. Includes problem structuring, analysis, and ability to translate issues into actionable items and recommendations.
- Solid judgment to know when to escalate issues and take charge when needed to prevent or minimize the impact of issues.
- Ability to multi-task and prioritize tasks according to criticality.
- Ability to think strategically and provide insight into how to improve existing business and technology processes.
- Excellent communication skills, both verbal and written to effectively communicate with global teams, business units, technology, and senior audiences.
- Intermediate to advanced Microsoft Office Applications (MS Access, MS Project, Powerpoint, Word, Excel, Outlook)

Experiences Required:
- Minimum 3-5 years of relevant experience performing client KYC due diligence or regulatory compliance
- Experience in the use of process improvement methods such as LEAN or Six Sigma to drive continuous improvement a plus.

Educational requirements:
- Minimum Bachelors Degree
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