Associate, Third Party Risk Management

Morgan Stanley•Dallas, TX

About The Position

The role will focus on Third Party and Business Disruption & Resilience (BDR) operational risk management and resides within Legal and Compliance's Non-Financial Risk (NFR) department, a Second Line of Defense (2LoD) function. Operational risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, or systems or from external events. The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing). The successful candidate will be responsible for supporting independent oversight, analysis, and challenge of Third Party and BDR risks and controls. The individual will play a key role in executing risk management oversight activities, including execution of risk assessments and regulatory compliance monitoring, creation of governance materials, and review of incidents and issues, remediation activity, and other matters requiring independent review and challenge.

Requirements

Undergraduate degree (i.e., B.A., B.S., or equivalent) is required, ideally in an area related to risk management. Advanced degree holders are also encouraged to apply.
5-7 years' experience in the financial services industry within risk management; exposure to sourcing / procurement, vendor risk management is preferable.
Understanding of Third Party and BDR related regulations and industry frameworks, especially relating to operational risk management
Program or project management skills with a focus on effectively communicating complex analytical concepts to senior management.
Experience working in an oversight function, executing regulatory exams and/or audits
Self-led with a demonstrated ability to collaborate globally across multiple functional areas while maintaining suitable independence and effective challenge.
Experience with implementing and interpreting risk reporting for governance and oversight
Ability to work on challenging assignments in a dynamic environment, carry out quantitative and qualitative data analysis, synthesize information, distill relevant facts, and reach logical conclusions and communicate them effectively
Strong risk analytics experience and problem-solving skills with the ability to effectively manage several tasks concurrently and work in a high pressure environment to meet deadlines.
Detail oriented mindset with strong organization skills with the ability to multitask and prioritize
Proficiency in Microsoft Word, Excel, and PowerPoint

Nice To Haves

exposure to sourcing / procurement, vendor risk management is preferable.

Responsibilities

Execute Second Line non-financial risk oversight activities to support oversight and challenge of Third Party and BDR risk.
Support independent review and challenge through execution of risk assessments as well as review of control outcomes, issues, incidents, remediation plans, and risk acceptances related to Third Party specialized risks.
Assist with governance activities related to Third Party specialized risks, including preparation and review of materials, meeting documentation, action tracking, and escalation summaries.
Collaborate with first line and second line colleagues to assess whether Third Party and BDR risks are appropriately identified, documented, managed, and escalated.
Support targeted reviews and thematic analysis related to Third Party and BDR risk oversight.
Engage with senior colleagues across the broader Firm, including first line of defense business units, support functions, and control partners, as appropriate.
Maintain clear documentation of review conclusions, challenge points, and follow-up actions to support governance transparency and auditability.