U.S. Banks Field Operational Risk Officer - Assistant Vice President

Morgan Stanley•Purchase, NY

2d•$85,000 - $140,000•Onsite

About The Position

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Global Wealth Management via Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. WM 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. Morgan Stanley Private Bank, National Association (“Bank” or “MSPBNA”) provides deposit and lending products and services to serve the needs of Wealth Management clients and seeks a Field Operational Risk Officer as part of the Bank’s First Line Operational Risk Organization. The Field Operational Risk Officer will perform offsite risk monitoring, and onsite education and training of the operational and compliance risks related to the banking and lending activities of Private Bankers and Financial Advisors within the Field Operational Risk Officers’ dedicated region. The Field Operational Risk Officer will report to the Bank’s Head of Field Risk and will be based in the Purchase (NY) location.

Requirements

Bachelor’s Degree or higher
5+ years of experience in operational risk management, business management, legal/compliance, banking and lending product risk advisory, or internal audit
Strong understanding of operational risk within the Financial Services industry (e.g. Private Banking, Retail Banking, Investment Banking and/or Wealth Management)
Broad knowledge of lending and deposit product risks including risks related to institutional and retail lending products (including residential home loans, securities based loans, commercial real estate lending, fixed income secure lending and equity financing) and deposit and cash management products and services (including ACH, wires, Deposit Accounts, CDs/Structured CDs and credit/debit cards)
Ability to manage multiple tasks concurrently in an efficient and effective manner
Strong organizational project management and reporting skills
Effective written and verbal communication skills
Ability to work both independently and with team members under tight deadlines
Ability to execute in a fast paced, high demand environment while balancing multiple priorities
Ability to manage initiatives involving process improvements
Ability to build effective business partnerships across the Bank and Firm
Ability to own an oversight framework element and proactively enhance that framework when needed
Proficiency in Microsoft Office applications including Excel, PowerPoint, Tableau, SharePoint

Responsibilities

Serve as the Bank’s in-field primary resource concerning operational risks related to cash management and lending products and services
Educate, advise and provide guidance to the field on questions and issues pertaining to products and services offered by the Bank
Partner with, and leverage firm-wide monitoring groups and tools to oversee cash management and lending activities conducted by employees of the Bank in WM branches, to help ensure compliance with all applicable regulatory rules and all Firm and Bank policies and procedures
Conduct daily and periodic monitoring activities and maintain accurate metrics and reporting for U.S. Banks Senior Management
Contribute to the preparation of senior management presentation materials
Create/Maintain/Own applicable field risk policies, procedures, and control libraries pertaining to the U.S. Banks field risk program
Track and monitor risk indicators and conduct timely escalation of emerging issues to senior management
Prepare and summarize results of offsite monitoring
Assist with ad-hoc and annual risk, vetting requests from various partners across Morgan Stanley
Work collectively with Field and Bank management to identify, monitor, control and address operational risk-related issues
Partner with and leverage the Firm and Bank’s Operational Risk Team frameworks and programs
Contribute to the preparation of senior management presentation materials