Regulatory Reporting Quality Assurance (RRQA)

Morgan Stanley

6d

About The Position

Regulatory Reporting Quality Assurance (RRQA) Glasgow JR026526 We are seeking a Director in the Finance Division's Risk and Assurance (FinRiA) group, specifically into the Regulatory Reporting Quality Assurance (RRQA) team. This is a Director level position within our Risk, Assurance, Governance & Control Job Family which provides oversight and monitoring of operational risk or third party/outsourcing for the global Finance division, validation and testing of financial and regulatory reports and reinforcement of regulatory requirements, policies and procedures. The FinRiA group is represented in our New York, Glasgow, London, Tokyo and Hong Kong offices and performs an oversight, governance and execution role in support of the Firm's operational risk programmes and objectives. The group interacts across all areas of Finance, the Firm Operational Risk Department, the Front Office, Internal Audit and Operations, supporting accurate risk reporting across Finance whilst furthering the risk management culture and infrastructure. The RRQA team works collaboratively across New York, Glasgow, and Mumbai on a validation programme to support the continuously expanding regulatory reporting environment impacting the Morgan Stanley Finance division. In the Finance division, we act as a partner to business units around the globe by providing management, review, analysis and advisory services of the Firm’s financial and capital resources. This is an Associate within our Risk, Assurance, Governance & Control job family which provides oversight and monitoring of operational risk or third party/outsourcing for the global Finance division, validation and testing of financial and regulatory reports and reinforcement of regulatory requirements, policies and procedures. Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world. RRQA is an independent, second line of defence (2LOD) function within the Finance department. The team’s role is to validate processes and controls supporting Finance-owned reports and components across Capital, Credit, Market, Operational, Liquidity and other reporting submitted to global regulators, from transaction capture through to final reporting. Products subject to review may include derivatives, securities financing transactions, loans, securitizations, debt and equity. The successful candidate will be responsible for leading a workstream within the US/EMEA validation book of work. Responsibilities will include developing validation approaches, engaging with stakeholders, and leading a small team of individuals to execute the validation activity. The RRQA role offers significant opportunities to learn about the broader Firm as the validation programme encapsulates many different types of reporting (e.g. capital, liquidity, recovery planning) and stakeholders (e.g. Finance, Operations, Technology). The role is also project-based (e.g. not daily, weekly, monthly reporting) which offers variety in the work performed, continued learning and flexibility.

Requirements

• Prior exposure to risk governance frameworks, including knowledge of model/tool risk management (e.g., identify, measure, monitor, mitigate, control).
• Prior exposure to data lineage concepts, including an understanding of model/tool inputs and outputs and surrounding controls.
• Prior experience in managing multiple stakeholders in a matrix environment.
• Ownership and accountability for tasks
• Critical thinking, initiative, and an inquisitive nature to validate whether processes and controls are operating as intended
• Strong analytical skills to organise, interrogate and present data in a meaningful way; attention to detail; clear documentation of results
• Strong written communication and oral skills, including the ability to lead stakeholder walkthroughs and provide updates to senior Finance management
• Desire to continually learn through asking questions; seek innovative ways to improve RRQA processes
• Flexibility to multi-task, adapt to change, and contribute to running a successful team (e.g. being a role model for Firm culture)
• Microsoft Office (Excel, Word, and PowerPoint) experience
• Bachelor’s Degree in Finance, Economics, Mathematics, Accounting or similar discipline
• Prior audit or assurance experience

Nice To Haves

• Financial instrument/product knowledge, regulatory framework knowledge (e.g., Basel 3, ICAAP, ILAAP, liquidity reporting, Recovery and Resolution reporting), digital tooling experience (e.g., Alteryx, PowerBI, UI Path)
• Part or Fully Qualified accountant

Responsibilities

• Leadership, ownership, oversight and participation in validation testing activities, including: process, control and substantive testing from data source to final reporting
• People management responsibilities for typically one or two direct reports
• Partnership with stakeholders across Finance (e.g. Regulatory Controllers, FSS External Reporting, Treasury, Legal Entity Controllers) to develop RRQA’s annual scope, the validations themselves, and broker agreement to any issues identified
• Liaise with other divisions (Operations / Technology) where required to facilitate validations
• Problem solving and identifying root cause of data anomalies or other deficiencies in processes and controls to determine next steps for the team
• Collaboration with senior management on the team’s progress

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 5,001-10,000 employees