Vice President - ISG Coverage (Operational Risk)
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share five core values rooted in integrity, excellence and strong team ethic:
1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Firm Risk Management
Firm Risk Management (FRM) enables Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.
Our mission is to serve as the follow roles:
? Independent agent to set consistent principles and disciplines for risk management
? Strategic advisor to Firm management for setting risk appetite and allocating capital
? Industry leader to influence and meet regulatory standards
You will collaborate with colleagues across FRM and the Firm to protect the Firm?s capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
Firm Risk Management?s unique franchise promotes:
Flat, flexible and integrated global organization
Collaboration and teamwork
Credible, independent decision-making
Creative and practical solutions
Meritocratic and diverse culture
Morgan Stanley seeks a professional with previous experience in the Front office division of a bank, to serve as a Vice President in the Firm?s Operational Risk Department, which provides independent oversight of the Firm?s institutional securities activities and the respective functions supporting the businesses.
Based in New York, this role is in the Operational Risk Division team as a coverage officer for the Firm?s ISG function
The Firm has developed an operational risk management framework to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The framework is deployed across business units, infrastructure groups and control functions globally. The framework is based on a ?Three Lines of Defense? model:
1st Line: Business Units/Infrastructure Groups own their operational risk and are responsible for its management;
2nd Line: Independent Risk Management provides independent governance and oversight of operational risk management across the Firm and partners with business units and infrastructure groups to anticipate, mitigate and report on operational risk;
3rd Line: Internal Audit provides independent assessment and validation.
The Operational Risk Department (ORD), and this role, operates as part of the second line of defense.
The ORD (Operational Risk Department) risk management team works closely with ORD colleagues globally. The principal role of the operational risk manager is to partner with the areas of coverage, proactively identifying, assessing and driving mitigation of operational risks arising within Morgan Stanley Business Units and Support Functional Groups. This is achieved by working closely across all three Lines of Defense and the businesses and functions, in addition to independent actions, challenge and interventions by ORD.
As a VP in ORD ISG Coverage, this role will partner with the all areas of Coverage, proactively identifying, assessing, and driving mitigation of operational risks arising within Morgan Stanley Institutional Securities Group and related legal entities.
Work collaboratively in a high performing global team responsible for identifying, assessing, reporting, and capturing operational risk information
Partner with the relevant business units and support functions to develop a perspective on operational risk and ensure consideration of evolving regulatory expectation
Lead risk assessments performing critical analysis as necessary and monitor data used to identify heightened risk and help develop risk remediation recommendations
Contribute to the development of presentations for executive management and senior risk managers, including reporting to boards and committees
Perform deep dives into material operational risk events (internal and external) and analyses of thematic operational risks
Lead Scenario Analyses activities where significant and emerging risks are assessed
Lead the review and approval of new products and new activities originating from the front office.
Build solid relationships in the front office, operational, risk management, and other support functions related to the area of coverage
Develop strong networks across the Firm in order to ensure effective management of operational risk
Assist the division in highlighting their key operational risks and management of risk levels against designated risk tolerance levels
Develop analytical capabilities to support the operational risk assessment process for business areas, risk types, regions, and legal entities Qualifications:
Bachelor?s degree required; economics, finance, business or another analytical discipline preferred. Master?s degree is a plus
Experience in a securities business front office role is preferred
Requires product experience in Equities, Equity Derivative Products, Fixed Income products, and front to back processes
Requires experience with risk management and the requisite controls required to manage operational risk in the business; and providing recommendations to mitigate them
Ability to constructively challenge senior members of the organization to drive forward a strong risk culture
Excellent communication skills, both verbal and written, and an ability to present ideas concisely and persuasively
Ability to work on challenging assignments in a dynamic environment, synthesize information, distill relevant facts and reach logical conclusions
Demonstrated ability to: prioritize competing responsibilities, work under pressure, meet challenging deadlines and can build and maintain effective business relationships
Confidence to take ideas forward and to challenge others, where appropriate
Strong organization skills with the ability to multitask and prioritize; ability to work under pressure and to tight deadlines;
Ability to work in a team environment, building and maintain a network of contacts and coordinating with a large number of stakeholders.