Mortgage Lending and Compliance

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 18 Jan 18 2018-01-18

Mortgage Lending and Compliance

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.

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 team 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 and Technology auditors. Business and Risk 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. Both groups are responsible for understanding, analyzing and testing the controls to protect the franchise.

Morgan Stanley is seeking a Manager to join its Wealth Management Internal Audit Division, with a focus on mortgage operations and compliance in the Private Banking Group. The successful candidate will help ensure that audit and regulatory requirements are being met in accordance with set standards. This position will be located in NYC.

The successful candidate will be responsible for providing support in connection with audits performed over the Private Banking segments within Wealth Management. The candidate should have a strong understanding of mortgage lending operations, including compliance with applicable regulations, laws, and rules. Additionally, the candidate should have excellent time management, organizational, project management, communication and interpersonal skills.

Primary Responsibilities:
- Manage, analyze and evaluate the Firm's Private Banking business, with a focus on mortgage lending operations, including compliance with application regulations, laws, and rules.
- Conduct risk assessments for Private Banking Group's audit entity universe to help drive the risk-based audit plan.
- Execute the annual risk-based audit plan to provide appropriate coverage of banking activities including mortgage lending.
- Ensure execution of the audit plan within departmental methodology, policies and standards.
- Execute audits from start to completion including detailed walkthroughs of key processes to identify internal controls, developing and execution of tests of control and substantive testing procedures for key controls, execution of testing, identification and reporting of issues.
- Involvement in scope determination, audit planning memos, developing testing plans, issue identification, issue discussions with clients and report writing.
- Provide management with an independent and objective evaluation of the control environment and evaluate management's control consciousness.
- Conduct, as appropriate, quality assurance reviews to ensure compliance with department documentation standards.
- Ability to travel when required


- Four-six years of experience with mortgage lending operations, including compliance with applicable regulations, laws, and rules.
- Experience with local, state and federal securities laws a plus.
- Strong verbal and written communication skills for audit reporting discussions with Senior Audit and Business Management.
- Multi-tasking of various projects and deadlines.
- General understanding of the internal audit process including risk assessments, planning, scheduling, reporting, continuous auditing.
- A B.S. degree in business including Economics, Finance, Accounting, etc.
- CPA, CRCM, CIA or other related licensing a plus.