Internal Audit Capital Planning

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Morgan Stanley USA
  • 20 Apr 18 2018-04-20

Internal Audit Capital Planning

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 Business, Risk, Compliance, Finance and Technology audit groups. Business, Risk, Compliance and Finance auditors focus on understanding the risks that the businesses 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 Capital Planning Audit team, reporting to a senior member of the Risk audit group, comprises 12+ staff that reside within the Risk and Finance audit teams. The team's responsibility is to plan, co-ordinate and execute year-round audit work on Capital Planning, working effectively with other Internal Audit staff in Business, Risk, Finance and Technology teams.

Background on the Position
Morgan Stanley is seeking an experienced audit professional for the Capital Planning Audit team, within the Risk Management Audit function, who will have a senior leadership position in the team focused on leading technical aspects of the Capital Planning audits. Areas of focus include scenario design and generation of scenario variables for projections, upfront market shock design and implementation, nine-quarter credit stress loss projections, and the aggregation and reporting of trading, counterparty and credit projections through to the FR Y-14 series regulatory reports. This role has a direct reporting line to the Managing Director in the Risk audit team who leads all capital planning activities.

Primary Responsibilities
The individual in this role will be responsible for:
-Leading the risk assessment of certain aspects of capital planning and assessing its impact on the audit plan
-Assessing the impact of related work planned and completed within the Internal Audit department on capital planning
-Managing multiple Capital Planning audit reviews from planning through reporting, within established budgets and delivery dates, and ensuring workpapers meet internal standards. This involves managing the work of both the Capital Planning audit team as well as coordinating the capital planning work executed by other audit teams
-Evaluating the adequacy of design and effectiveness of key controls and potential business concerns by analyzing available documentation and asking insightful questions to identify root causes and drawing the appropriate conclusions.
-Coordinating with the Banks' audit teams to plan out the Capital Planning work that impacts the Banks' DFAST submissions and determining how the audit results impact those submissions for onward communication to the Banks' boards
-Developing audit findings and document business concerns, risks, root causes, and recommendations in writing for inclusion in the audit reports.
-Preparing quarterly reports for senior management and the Board Audit Committee on capital planning
-Participating in follow-up meetings concerning open audit issues and regulatory findings.
-Build credible relationships and interact with regulators and Senior Management within the Firm.
-Supervising and mentoring assigned Capital Planning team members
-Providing Subject Matter Expert support and education within the department on Capital Planning and relevant aspects of the FRY-14 reports.


Skills Required
-A four year college degree in a business discipline (e.g., finance, economics, accounting).
-Ten or more years of experience in financial services with good experience, and a strong understanding, of processes and technologies supporting all phases of Capital Planning, and an appreciation of model development and model validation practices.
- Five or more years of experience auditing market, credit, counterparty and general trading risks, demonstrating an ability to challenge stress loss design and controls over its implementation
-A strong understanding of the regulatory environment, and regulatory capital rules, with respect to the Federal Reserve Bank, the SEC, and OCC.
-Proficient understanding of internal audit processes including identifying and evaluating key risks, setting the audit scope, developing audit testing, and managing staff assignments.
-A team player who supports the broader audit function by leveraging their knowledge to the best use of the Firm.
-Strong analytical, interpersonal, communication and writing skills.
-Prior experience communicating with Regulators and senior management
-Masters in Finance or Risk (desirable)
-CPA, CIA, and /or FRM qualifications (desirable) *LI-ND1