U.S. Banks Affiliate Risk Oversight Execution VP

Morgan Stanley•Purchase, NY

45d•Hybrid

About The Position

The Vice President (VP) in Affiliate Risk Oversight (ARO) serves as a key member of 1L Operational Risk within U.S. Banks Business Risk and is responsible for supporting the U.S. Banks' Internal Affiliate program. This role is responsible for identifying, measuring, monitoring, controlling, and reporting operational risks, while enabling consistent execution of risk management practices across the Banks. The VP will work closely with business owners to ensure accountability for risks created within their respective lines. This role is vital for maintaining appropriate affiliate relationships and mitigating risk. The goal of this position is to strategically organize, lead and drive change to continue to educate and improve on the ARO structure and value. The program's framework includes the following areas of responsibility:

Requirements

Minimum 7+ years of professional experience in financial services; operational risk, enterprise risk management, finance, compliance or audit
Bachelor's degree in Finance or Accounting or a related discipline.
Proven experience in operational risk management within financial services.
Strong understanding of regulatory frameworks and risk governance.
Experience with risk assessments and exams (Regulator, Internal Audit, Operational Risk, and Compliance).
Understanding of RCSA or similar operational risk management frameworks.
Experience working with cross-functional teams.
This is a hybrid role and requires work from the office 4 days per week.
Ability to demonstrate experience with Institutional financial products inclusive of derivatives
Strong knowledge of banking risk, regulatory and/or compliance rules and regulations
Strong interpersonal, verbal and written communication skills; capable of clear and concise writing, making presentations to an internal audience and interacting with upper Management, colleagues and clients
Proven track record of working across organizational boundaries and having the ability to work in a matrixed organization; leveraging resources across the organization to complete deliverables.
Proficient in creating PowerPoint presentations and performing Excel data analysis.
Familiarity with SharePoint, Microsoft Windows, and Microsoft Office software.
Strong project management, execution, and reporting skills
Confident, proactive, and independent self-starter.
Strong organizational skills and ability to prioritize tasks.
Ability to work in fast paced, high-demand environment, both independently and as part of team
Consistent attention to detail with strong analytical, quantitative, and investigative problem-solving abilities

Nice To Haves

Banking experience is preferred

Responsibilities

Ensure key regulatory guidance and requirements, particularly Office of the Comptroller of the Currency (OCC) Bulletin on Third Party Relationships and Regulation W, are adhered to for U.S. Banks' Affiliate Task Orders
Collaborate with stakeholders to facilitate the oversight the execution and performance of Bank Affiliate Task Orders-leading discussions with stakeholders in support of oversight of internal Affiliate lifecycle management, including agreement creation with appropriate process level descriptions, cost and service levels, periodic risk monitoring, and contract termination
Complete ongoing affiliate SLA Criticality Assessments with stakeholders
Provide oversight and training to ensure adherence to the Banks' Inter-Affiliate Management Policies and Procedures
Prepare and present results of monitoring assessments, identified risks and remediation progress, and escalation of issues to senior bank management
Support the execution of the First Line of Defense Oversight and monitoring program-identifying, measuring, and reporting emerging risks
Drive Institutional risk related initiatives to ensure products are connected to firm-wide or Bank-wide programs, including being able to identify the need for technology and process changes within the products.
Support execution across various Operational Risk frameworks in accordance with Firm and U.S. Bank requirements, including: Issue and incident management Risk and Control Self-Assessment (RCSA) Control validation Risk assessments and metrics Exam and audit support New product approval and product change management
Collaborate with Risk partners (Legal, Compliance, Central Business Risk, 2nd Line Risk Groups) to resolve issues and obtain guidance.
Perform and oversee tasks related to Risk Control Self Assessments (RCSA), including evaluating risks, impacts, and mitigating controls, engaging with business partners, and documenting results.
Support U.S. Banks Institutional Businesses during internal and external audits, including document reviews and participation in exam meetings.
Manage the production of management reporting materials and prepare for monthly risk meetings
Perform data analysis and produce Excel reporting as needed.