US Banks Financial Crimes Risk Officer – Governance Program Management AVP

Morgan Stanley•Harrison, NY

About The Position

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Investment Management and Wealth Management (inclusive of Morgan Stanley Private Bank, National Association (MSPBNA) and Morgan Stanley Bank, NA -collectively, the “U.S. Banks”). 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 U.S. Banks Financial Crimes Risk (FCR) Team is embedded within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The 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. Primary Responsibilities: The U.S. Banks FCR Governance Assistant Vice President (AVP) is responsible for supporting and executing the Firm’s First Line Financial Crimes program for WM and U.S. Banks. The role will be responsible for executing the strategic direction of the Financial Crimes programs and performing advisory, governance and other oversight responsibilities. This position will work closely with the business, Second Line (Global Financial Crimes) and Third Line (Internal Audit) stakeholders to ensure the business is compliant with relevant financial crimes standards, policies, procedures, and applicable laws and regulations. The Financial Crimes Risk Governance Program Management AVP will: Exercise Bank Risk Program Governance responsibilities as follows:

Requirements

Minimum 5 years of experience in financial crimes/AML
Bachelor’s degree
Attention to detail and ability to prioritize projects and workload
Take initiative, analyze, summarize, and communicate effectively
Multitask effectively and appropriately prioritize assignments
Work both independently and in a team environment
Strong sense of ownership and accountability for work
Strong interpersonal skills and ability to communicate effectively, both verbally and in writing
Strong time management and planning skills
Handle highly confidential information professionally and with appropriate discretion

Nice To Haves

Certified Anti-Money Laundering Specialist (CAMS) designation is a plus
Proficient knowledge of MS Office (Microsoft Excel/PowerPoint/Word)
General knowledge of AML regulatory requirements and expectations (domestic and international)
Experience with US Banking regulations and knowledge of Securities Based Lending (SBL), Brokerage, and Institutional Securities products

Responsibilities

Provide support to US Banks FCR Governance Leads in the oversight of:
Bank Know Your Customer (KYC) and Customer Due Diligence (CDD) programs across the US Banks (inclusive of the Retail Bank (Advised and Digital Channels) and Institutional Bank)
Bank BSA/AML Sanctions processes within the first line that are independent of 1L FCR (such as Currency Transaction Reporting (CTR) Filings, Fraud Operations, and transaction monitoring)
Bank process and strategic program design enhancements and transformation initiatives across the Retail Bank and Institutional Bank
Internal and external testing and examinations of the BSA-AML and Sanctions program
Develop and maintain subject matter expertise and understanding of process flows, procedures and policy requirements governing the US Banks KYC, CDD and other BSA AML and sanctions program functions
Provide support in periodic internal front-to-back assessments of Bank KYC, CDD and other BSA/AML program functions to understand program risks/inefficiencies and drive and oversee remediation, where applicable
Attend Working Group forums held by the first line, second line and Banking Business Units to ensure ongoing insight into regulatory, internal audit and program testing plans, metrics (inclusive of key performance and risk indicators governing business performance), program risks (current and emerging), efforts and concerns, and escalation items
Support First Line Advisory responsibilities for regulatory exams, issues and actions and related testing engagements as follows:
Support US Banks FCR Governance Leads in the collaboration and compilations of Day 1 Letter responses to regulators
For regulatory follow-up requests, maintain oversight of the responses, ensuring accuracy and completeness (will require collaboration across senior management in 1L FCR, GFC, applicable business units, and Internal Audit, as needed)
Collaborate with First Line WM and IM Issue Management Team to ensure awareness and oversight of all Bank issues and actions
For Bank issues and actions with regulatory impacts and critical risk ratings:
Support US Banks FCR Governance Leads in review and challenge on closure summary write-ups, appropriateness of closure materials and first line signoff prior to submission in OpenPages
For closure verification, support responses to follow-up requests