Internal Audit - Executive Director - Treasury Audit

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Morgan Stanley USA
  • 21 Apr 18 2018-04-21

Internal Audit - Executive Director - Treasury Audit

Company Profile
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.

Department Profile
Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firm's internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm's compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The department reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements. Internal Audit is comprised of Finance, Risk, Compliance, Technology and Business audit groups. Auditors focus on understanding the risks that the businesses and functional units face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes, including systems development, application security and entitlements, production management, and technology governance. All groups are responsible for understanding, analyzing and testing the controls to protect the franchise.

Background on the Team
The Treasury audit team resides within the Finance audit team and reports to a senior member of the Finance audit group. The team's responsibility is to plan and co-ordinate year-round audit and audit-related work covering the Firm's Corporate Treasury function and the Liquidity Risk Department, working effectively with other Internal Audit staff in Finance, Risk, Business, and Technology audit teams.

Background on the Position
Morgan Stanley is seeking an experienced audit professional for the Treasury audit team, within the Finance Audit function, who will lead the audit team in the execution of audits on Liquidity and Funding. The Treasury audit team provides end-to-end audit coverage of the Firm's liquidity and funding processes, including liquidity stress testing, buffer management, liquidity reporting, liquidity risk management, and funding planning and execution. The team closely co-ordinates its Liquidity and Funding audit work with various Risk, Business and IT audit teams and with the Risk audit team for capital planning audit work. This role has a direct reporting line to the Managing Director in the Finance audit team that leads all Treasury audit coverage activities globally.


Primary Responsibilities
The individual in this role will be responsible for:
• Leading the semi-annual risk assessment of Liquidity and Funding processes, and assessing its impact on the current audit plan.
• Managing multiple Liquidity and Funding audit reviews from planning through reporting, within established budgets and delivery dates, and ensuring work-papers meet internal standards. This involves managing the work of both the Treasury audit team as well as coordinating the liquidity and funding test work executed by other audit teams.
• Evaluating the adequacy of design and operating effectiveness of key controls and potential risks by analyzing available documentation and asking insightful questions to identify control weaknesses and root causes.
• Developing audit findings and drafting of the audit report.
• Preparing quarterly reports for senior management and the Board Audit Committee summarizing key audit results, emerging risks and the status of key control issues on liquidity and funding.
• Building credible relationships and interacting with clients in the Corporate Treasury and Liquidity Risk Management functions and regulators.
• Participating in follow-up meetings with Treasury and Liquidity Risk management concerning open audit issues and regulatory findings.
• Supervising and mentoring the Treasury audit team members.
• Providing Subject Matter Expert support and education within the Internal Audit department on Liquidity and Funding.

Skills Required
• Ten or more years of experience in financial services with prior experience and a strong understanding of processes supporting all phases of liquidity and funding management, including an appreciation of related practices on liquidity reporting, data and model risk management.
• Proficient understanding of internal audit processes including, setting the audit scope, establishing audit testing plans, developing and communicating audit findings, drafting audit reports and managing staff assignments.
• A strong understanding of the financial services industry and the regulatory environment with respect to liquidity and funding.
• A team player that supports the broader audit department by leveraging their knowledge to the best use of the Firm.
• Self-motivated, able to work independently, resolve challenging issues with innovative ideas, and demonstrate strong analytical, interpersonal, and communication skills.
• Prior experience with communicating with Regulators and Senior Management.

Education Requirements
• A four-year college degree in a business discipline (e.g., finance, economics, accounting).
• Master's degree in business administration, finance or risk.
• CPA, CFA, and /or FRM qualifications a plus. *LI-ND1