Assistant Vice President, WM Financial Crimes Risk & Controls

Morgan Stanley•Harrison, NY

3d•$100,000 - $135,000

About The Position

The Assistant Vice President, Risk and Controls Officer- Financial Crimes Risk is responsible for assisting in the execution of the firm's first line Financial Crimes program for WM, Banks and IM. The role will be responsible for assisting in the execution of the strategic direction of the Financial Crimes programs, performing oversight responsibilities and escalating potential gaps and risks. This position will work closely with the business, the second- and third-line stakeholders to ensure the business is compliant with all relevant Financial Crimes laws and regulations through the proper implementation an execution of applicable MS' policies, standards, and procedures. The Assistant Vice President, Risk & Controls Officer- Financial Crimes Risk will: Lead implementation for project deliverables for Risk and Control assessments under the firm-wide Non-Financial Risk Assessment (NFRA) program Engage with various 1L teams across WM, Banks and IM to assess the impact of financial crimes risks in their area Lead creation of risk records under NFRA, mapping of controls and completion of assessment for 1L owned Financial Crimes risks Review end to end process for creation of missing controls, refresh control ratings, descriptions and issue linkages across 1L FCR risks Address 2L feedback and challenges in relation to the RCSAs Develop and provide Risk and controls dashboard reporting/ heatmap to relevant committees Aid in the identification of control enhancement opportunities and implementation of preventative detective controls and testing Create control testing/ monitoring scripts and complete control monitoring/ control testing for CILA controls as per policy requirements Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by second line Identify, escalate, and assist in the management of top & emerging risks, execution of heightened risk and high-risk portfolio reviews, Provide with advisory, guidance and training to the first line teams Analyze, summarize, and communicate effectively Operate with confidence and comfort in high-paced and high-profile environments with minimum supervision Handle highly confidential information professionally and with appropriate discretion We do it in a way that's differentiated - and we've done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. For NY: Expected base pay rates for the role will be between $100K-$135K per year at the commencement of employment. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees. It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Requirements

5+ years of relevant experience managing implementation of operational risk framework including risk and controls assessments and control management
Have a bachelor's degree in business, Finance, or other related fields
Strong understanding of Financial Crimes Risk
Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes
Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity

Nice To Haves

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.) is a plus

Responsibilities

Lead implementation for project deliverables for Risk and Control assessments under the firm-wide Non-Financial Risk Assessment (NFRA) program
Engage with various 1L teams across WM, Banks and IM to assess the impact of financial crimes risks in their area
Lead creation of risk records under NFRA, mapping of controls and completion of assessment for 1L owned Financial Crimes risks
Review end to end process for creation of missing controls, refresh control ratings, descriptions and issue linkages across 1L FCR risks
Address 2L feedback and challenges in relation to the RCSAs
Develop and provide Risk and controls dashboard reporting/ heatmap to relevant committees
Aid in the identification of control enhancement opportunities and implementation of preventative detective controls and testing
Create control testing/ monitoring scripts and complete control monitoring/ control testing for CILA controls as per policy requirements
Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by second line
Identify, escalate, and assist in the management of top & emerging risks, execution of heightened risk and high-risk portfolio reviews, Provide with advisory, guidance and training to the first line teams
Analyze, summarize, and communicate effectively
Operate with confidence and comfort in high-paced and high-profile environments with minimum supervision
Handle highly confidential information professionally and with appropriate discretion