Assistant Vice President – Financial Crimes Risk Officer Associate – Client Advisory (Wealth Management and U.S. Banks Financial Crimes Risk)

Morgan Stanley•Miami, FL

About The Position

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services. 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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow. Department Profile: The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm’s Business Line (First Line of Defense). It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The WM and U.S. Banks Financial Crimes Risk Team is considered the First Line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley. Responsibilities: The Financial Crimes Risk Officer AVP is responsible for supporting our Financial Crimes Risk Officers in the assessment of new and existing clients to recommend and agree action plans to mitigate residual financial crimes risk. This position will work closely with first, second, and third-line stakeholders to help ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations. The Financial Crimes Risk Officer AVP will also: • Support Financial Crimes risk management via the execution of heightened risk and high-risk client portfolio reviews. • Provide subject matter expertise, guidance and training to the First Line, including managing risk appetite exception and escalations review. • Help strengthen the Firm’s Financial Crimes program by creating and/or enhancing requirements and controls, developing guidance and procedures for the First Line. • Ensure First Line compliance with all relevant Financial Crimes regulations, standards, and policies. • Support Financial Crimes risks initiatives that arise for the First Line in the WM and U.S. Banks businesses. • Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by the Second Line. • Help monitor and report metrics as well as Financial Crimes-related activities for the First Line. In addition, other Key responsibilities include: • Collaborate closely with critical internal stakeholders including Senior Business Leaders, Second Line, Technology and Internal Audit. • Assist in decision making over transactions and activities that may pose Financial Crimes Risk to the First Line. • Maintain the First Line informed on changes in Financial Crimes regulations, and policies, and update the respective Firm’s programs accordingly.

Requirements

5+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
Demonstrated knowledge of Financial Crimes laws and regulations.
Experience in the implementation and execution of Financial Crimes Programs requirements related to the prevention, detection and/or reporting pillars.
Experience performing Financial Crimes risk assessments for new or existing client relationships.
Experience in presenting and interacting with senior stakeholders.
Exposure to Financial Crimes Risk management thematic reviews.
Bachelor’s degree in business, finance, or other related fields.
Operate with confidence and comfort in high-paced and high-profile environment.
Analyze, summarize and communicate effectively both, verbally and in writing.
Distill complex ideas and concepts into actionable items.
Identify issues, investigate root causes and propose comprehensive solutions.
Work with people from other teams and be able to influence without direct authority.
Evidence of a strong work ethic as well as a high degree of integrity.
Handle highly confidential information professionally and with the appropriate discretion.
Strong time management, prioritization and planning skills.
Proficiency using MS Office suite (Microsoft Excel/PowerPoint/Word/Access).

Nice To Haves

AML and Sanctions (ACAMS and/or FIBA) certifications/licenses are a plus.
Fluent in Spanish and/or Portuguese is a plus.
Exposure to AI applications/concepts for the field is desirable.

Responsibilities

Support Financial Crimes risk management via the execution of heightened risk and high-risk client portfolio reviews.
Provide subject matter expertise, guidance and training to the First Line, including managing risk appetite exception and escalations review.
Help strengthen the Firm’s Financial Crimes program by creating and/or enhancing requirements and controls, developing guidance and procedures for the First Line.
Ensure First Line compliance with all relevant Financial Crimes regulations, standards, and policies.
Support Financial Crimes risks initiatives that arise for the First Line in the WM and U.S. Banks businesses.
Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by the Second Line.
Help monitor and report metrics as well as Financial Crimes-related activities for the First Line.
Collaborate closely with critical internal stakeholders including Senior Business Leaders, Second Line, Technology and Internal Audit.
Assist in decision making over transactions and activities that may pose Financial Crimes Risk to the First Line.
Maintain the First Line informed on changes in Financial Crimes regulations, and policies, and update the respective Firm’s programs accordingly.