Wealth Management Operational Risk – AVP

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 21 Feb 18 2018-02-21

Wealth Management Operational Risk – AVP

Wealth Management Operational Risk - AVP
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, achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

MS Wealth Management Operational Risk
Morgan Stanley Wealth Management (MSWM) Operational Risk group is responsible for overseeing the operational risk and control framework within the Wealth Management business unit. This team partners with the Business Risk and Control groups throughout the organization to implement control processes and procedures, report operational losses and reporting, manage audits and exams with Compliance and Internal Audit, organize the annual Risk and Control Self-Assessment, and coordinate new operational risk programs in partnership with the business as well as Firm Operational Risk Management.

Key Responsibilities will include but are not limited to the following:
This role will provide broad exposure to all functions and business lines within Wealth Management. The main responsibilities for this role will be to assist a team in performing "deep dive" or residual risk reviews for high risk business processes, products, services and activities. The "deep dive" reviews will include:
· Review of current risk and control data and existing processes
· Facilitation of meetings and other supporting functions
· Performing control design and effectiveness tests
· Development of remediation plans, as necessary
· Documentation and reporting of observations and recommendations
· Maintaining weekly project status

Specific duties will include:
· Coordination of meetings to walk through and document processes
· Collection and review of data, including incidents, assessments, requirements and procedures
· Performance of analysis and testing of controls, systems, applications, etc.
· Creation of process flow documents
· Tracking and reporting of results and status
· Preparation of summaries of "deep dive" results highlighting key findings, and potential recommendations for remediation actions, etc.
· Working with Business Units at the completion of "deep dive" reviews to ensure that risks are effectively managed and documented in the RCSA
· Assisting in evaluation of the effectiveness of risk management, control, and governance processes, and where appropriate, assistance in developing recommendations to improve
· Creation of Issues and Action Plans in the Firm system to track remediation
· Providing ad hoc support to Wealth Management and Operational Risk programs and activities


A successful candidate for this role will be capable of identifying areas of potential risk within MS's Wealth Management Deep Dive review process and Business Areas based on a variety of existing sources: incidents reported, issues and actions created, Table Top exercises, RCSA assessments and Audit and Compliance results and findings.

A successful candidate will have experience with and an understanding of operational risk management concepts and the ability to immediately add value to the team. Attention to detail and accuracy is critical, given the executive audience for much of the team's work. A candidate needs to be collaborative and able to build effective working relationships with all levels of employees across the organization, and should be comfortable leading quality assurance standard efforts within MSWM Operational Risk.

Specific qualifications required are:
· 3-5+ years of related experience in FinTech, preferably within Wealth Management, and involvement in Operational Risk Management
· Aptitude for programming, specifically for automating and visualizing reports and data mining and management
· Experience with programming languages preferred
· Strong knowledge of instrument pricing and markets, particularly around retail brokerage or investment advisory programs, trade support, and capital markets
· Knowledge of operational risk concepts and testing programs
· Understanding of core risk management programs, specifically focused on risk identification, assessment, management, mitigation and reporting
· Some knowledge of statistics and data analytics preferred
· Excellent analytical, critical thinking, and organizational skills
· Excellent written and verbal communication skills
· Ability to work in a small team environment, build and maintain a network of contacts and coordinate with a large number of stakeholders
· Bachelor's degree required
· Fully versed in Microsoft Office suite, emphasis in Excel and PowerPoint
· Bachelor's degree required
· Securities licenses or related certifications a plus