US Banks Business Control Unit Officer – Dedicated Business Risk Coverage - Payments AVP

Morgan Stanley•Harrison, NY

1d•$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. 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. The U.S. Bank Subsidiaries seek an Assistant Vice President (AVP) to join the First Line Business Risk team to provide risk oversight for the U.S. Banks Payments Risk. He or she will be responsible for aiding in the build out of a Dedicated Business Risk Coverage team which is responsible for establishing risk management coverage model of working with the various key stakeholders within embedded risk teams ensuring continuous and consistent monitoring and escalation of the various risk frameworks (e.g. Issues/Action Plans, Operational Risk Incidents, Metrics, Reporting, Risk Assessments).. The individual will work with management, the US Bank Businesses and Risk partners to aid in the execution of key initiatives and projects while ensure compliance with U.S. Banks risk management policies and procedures.

Requirements

5+ years of professional risk management experience in financial services industry; preferably in a highly regulated environment. Experience in operations, finance, compliance, or audit is a plus.
Bachelor’s Degree in Business Management, Finance, Accounting, Economics (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 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 with Payments activity/ risk management a plus
Project Management expertise is a plus.
Experience interacting with regulators a plus.

Responsibilities

Ensure the Business Risk Payments Program identifies, measures, monitors, controls, and reports current and emerging risks, maintaining a robust control environment in line with regulatory requirements.
Implement effective risk management practices that support the Banks' Operational Risk frameworks for Payments, including conducting Risk and Control Assessments (RCSA) and managing operational risk incidents and issues.
Collaborate with stakeholders and all three lines of defense to confirm comprehensive and consistent practices for successful oversight and proactive management of Payment Risk.
Support both internal and external examinations related to payments activities by reviewing documentation and participating in meetings, walkthroughs, and issue identification.
Assist in building and managing the US Banks Payments Risk Framework, and represent the Bank for firmwide alignment of Payment Frameworks.
Attend and actively participate in relevant management meetings and committees to provide risk insights and support decision-making for Payment oversight.
Support the Bank’s execution of key payment-related projects and initiatives, focusing on process, risk, and control identification, remediation, and operational readiness.
Identify, log, and track operational risk incidents and issues from daily operations, risk assessments, audits, and independent testing, ensuring timely remediation.
Develop and monitor action plans to address and mitigate operational risks, ensuring completion of remediation activities and documentation before closure.
Conduct and support risk and control assessments, including RCSA, Laws, Rules & Regulations (LRR), and End User Computing (EUC) tools, aligning with the Bank’s Operational Risk Framework.