U.S. Banks Affiliate Risk Oversight Execution AVP

Morgan Stanley • Town/Village of Harrison, NY

2d • $85,000 - $140,000

About The Position

Morgan Stanley is a global financial services firm that maintains significant market positions in each of its business segments— Institutional Securities, Wealth Management, and Investment Management. Morgan Stanley, through its subsidiaries and affiliates, provides a wide variety of products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions, and individuals. Institutional Securities provides a variety of products and services to corporations, governments, financial institutions, and ultra-high net worth clients. Wealth Management provides a comprehensive array of financial services and solutions to individual investors and small to medium-sized businesses and institutions covering: financial advisor-led brokerage and investment advisory services; self-directed brokerage services; financial and wealth planning services; workplace services including stock plan administration; annuity and insurance products; securities-based lending, residential real estate loans and other lending products; banking; and retirement plan services. Our U.S. banking subsidiaries, Morgan Stanley Bank, N.A. (“MSBNA”), Morgan Stanley Private Bank, National Association (“MSPBNA”), each, a “Bank” and collectively, the “U.S. Banks”) accept deposits, provide loans to a variety of customers, including large corporate and institutional clients as well as high to ultra-high net worth individuals, and invest in securities. Lending activity recorded in the U.S. Banks from the Institutional Securities business segment primarily includes Secured lending facilities and Commercial real estate loans. Lending activity recorded in the U.S. Banks from the Wealth Management business segment primarily includes Securities-based lending, which allows clients to borrow money against the value of qualifying securities, and Residential real estate loans. The U.S. Banks Affiliate Risk Assistant Vice President position is responsible for supporting inter-affiliate activity with U.S. Banks and non-banking affiliates, with associated inter-affiliate agreements tracked, reviewed, and managed for regulatory compliance and sustained business line relevance. This role is vital for support in maintaining appropriate affiliate oversight and mitigating related affiliate risk. Affiliate Agreement Inventory Management and Tracking: Support activities related to the drafting of inter-affiliate agreements to memorialize recurring services or transactions between the U.S. Banks and their various non-banking affiliates. Maintain a comprehensive, centralized inventory of all affiliate agreements and covered transactions. Support team leads in working with business lines and control functions to identify, tag, and capture all intercompany agreements subject to regulatory requirements, including Regulation W. Compliance and Oversight: Support review of new and existing affiliate agreements to ensure they are consistent with safe and sound banking practices, comprehensive for the services provided, and conducted on market terms. Maintain and implement controls and procedures to address the complexities of Regulation W across intercompany agreements with different business lines and applicable pricing methodologies. Reporting and Communication: Prepare regular reports and metrics for leadership on the status of the Affiliate Agreement program. Provide support for internal and external audits and examinations by preparing documentation and responding to inquiries. Escalate identified compliance gaps, overdue activities, and other issues to the appropriate compliance and business leaders. Collaborate with Legal, Risk, and business units to provide guidance on the development and implementation of new or modified activities and modeled transactions between the U.S. Banks and their non-banking affiliates.

Requirements

• Bachelor’s degree in Finance, Business or other related field
• 5+ years of relevant experience in risk management, inter-affiliate risk oversight, Reg W background, and governance in the financial services industry is a plus
• Strong sense of ownership, accountability, and entrepreneurial spirit
• Strong project management, organization, communication, and analytical skills
• Ability to manage ambiguity and bring focus with recommendations on solving tactical and strategic challenges
• Ability to work in a fast-paced environment, both independently and as part of a team, and under strict deadlines
• Strong interpersonal skills - freely develops networks, builds consensus, prioritizes effectively, and develops alliances across organizations
• Strong written and oral communication skills

Nice To Haves

• 5+ years of relevant experience in risk management, inter-affiliate risk oversight, Reg W background, and governance in the financial services industry is a plus

Responsibilities

• Support activities related to the drafting of inter-affiliate agreements to memorialize recurring services or transactions between the U.S. Banks and their various non-banking affiliates.
• Maintain a comprehensive, centralized inventory of all affiliate agreements and covered transactions.
• Support team leads in working with business lines and control functions to identify, tag, and capture all intercompany agreements subject to regulatory requirements, including Regulation W.
• Support review of new and existing affiliate agreements to ensure they are consistent with safe and sound banking practices, comprehensive for the services provided, and conducted on market terms.
• Maintain and implement controls and procedures to address the complexities of Regulation W across intercompany agreements with different business lines and applicable pricing methodologies.
• Prepare regular reports and metrics for leadership on the status of the Affiliate Agreement program.
• Provide support for internal and external audits and examinations by preparing documentation and responding to inquiries.
• Escalate identified compliance gaps, overdue activities, and other issues to the appropriate compliance and business leaders.
• Collaborate with Legal, Risk, and business units to provide guidance on the development and implementation of new or modified activities and modeled transactions between the U.S. Banks and their non-banking affiliates.

What This Job Offers

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