U.S. Banks Business Risk New Product Approval and Product Change Management VP

Morgan Stanley•New York, NY

9d•$110,000 - $190,000

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. Our U.S. bank subsidiaries, Morgan Stanley Bank N.A. (“MSBNA”), Morgan Stanley Private Bank, National Association (“MSPBNA”), 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. Bank subsidiaries from the Institutional Securities business segment primarily includes secured lending facilities and commercial real estate loans. Lending activity recorded in the U.S. Bank Subsidiaries 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. Additionally, the U.S. Bank subsidiaries with the Institutional Securities business segment have trading activities, which include rates derivatives and FX. The New Product Approval (“NPA”) evaluation and execution process and the Product Change Management Program (“PCMP”) are integral parts of the U.S. Banks’ risk governance frameworks to prudently manage the non-financial and financial risks associated with identifying, documenting, tracking, escalating, and reporting Business Unit initiatives to modify existing Bank products or to offer a brand-new product. The U.S. Banks Business Risk New Product Approval (NPA) and Product Change Management (PCM) VP will be responsible for the following:

Requirements

Minimum of 7 years of professional risk management experience in the financial services industry; preferably in a highly regulated environment.
Bachelor’s Degree in Finance, Economics, or Business Administration is preferred.
Ability to work in a fast-paced, high-demand environment, both independently and as part of a team, under tight deadlines and with the ability to manage multiple priorities concurrently, efficiently, and effectively.
Attention to detail, strong analytical, quantitative, and problem-solving skills.
Strong interpersonal, verbal, and written communication skills; capable of clear and concise writing, making presentations to an internal audience, and interacting positively with upper management, colleagues, and clients.
Risk management experience including governance, reporting, policy procedure review, audit/regulatory support.
Strong project management, organizational and reporting skills.
Excellent verbal and written communication skills, presentation skills and the ability to influence and interact with senior members of the Bank.
Strong sense of ownership and accountability; is willing to be fungible and has an entrepreneurial spirit.
Proficient use of Microsoft Office Suite of products including Excel, Word, and PowerPoint.

Nice To Haves

Experience in operations, finance, compliance, or audit is a plus.
Project Management expertise is a plus.

Responsibilities

Provide analytical and documentation support for the 1LOD Business Risk Management NPA and PCM Quorum Member as well as support the 1LOD NPA Risk Manager to perform quality assurance on other quorum members’ due diligence documentation to ensure consistency.
Work with management and risk partners covering various Bank strategic initiatives and product change management due diligence which may include deep dive reviews of the end-to-end process being proposed by the Banks business units.
Aid the business and proposers to understand the requirements from a risk perspective on operational readiness.
Collaborate with the businesses and other stakeholders in the development of process flows to map inherent risks and their mitigating controls, including updates to the Risk and Control Assessments (RCSA)
Track and report on status of due diligence across all NPA and PCM proposals and across all Quorum Members.
Facilitate conversations where there are interdependencies across quorum areas (e.g., Tech, Ops, Vendor Risk, Privacy, Info Sec, Reg W, Model Risk, and Dual Officer programs).
Conduct analysis to consider the impacts of the strategic initiatives from a thematic perspective to ensure appropriate considerations on risk impact and metrics, including open issues and incidents.
Collaborate with stakeholders across 1st and 2nd Lines to confirm comprehensive and consistent practices are followed to allow for a successful oversight program that proactively manages and assesses operational risk.
Attend and present in relevant management meetings and committees.
Lead working group meetings with businesses/proposers and quorum members to track progress of initiatives and escalate any blockers to the proposers.