Vice President – Financial Crimes Risk Officer – Client Advisory (Wealth Management and U.S. Banks Financial Crimes Risk)

Morgan Stanley•Miami, FL

About The Position

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley 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. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow. Department Profile: The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The WM and U.S. Banks Financial Crimes Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley. Responsibilities: The Financial Crimes Risk Officer VP is responsible for supporting and executing the Firm’s First Line Financial Crimes program for WM and U.S. Banks. The role will be responsible for executing the strategic direction of the Financial Crimes programs and performing advisory, governance and other oversight responsibilities. This position will work closely with the business, the second- and third-line stakeholders to ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations. The Financial Crimes risk officer VP will: Assess Financial Crimes risks from new and existing clients in order to recommend, agree and communicate individual action plans to mitigate or eliminate the risk. Manage Financial Crimes risk through thematic coverage (latent & emerging risk), execution of heightened risk and high-risk portfolio reviews. Provide subject matter expertise guidance and training to the first line, including managing risk appetite exception and escalations review. Implement the Firm’s Financial Crimes program requirements and controls, developing guidance and procedures for the first line. Ensure First Line compliance with all relevant Financial Crimes regulations, standards, and policies. Lead Financial Crimes risks initiatives that arise for the First Line in the WM and U.S. Banks businesses. Lead the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by Second Line. Monitor and report metrics as well as on Financial Crimes-related activities for the First Line. In addition, other Key responsibilities include: Collaborate closely with critical internal stakeholders including Senior Business Leaders, Second Line, Technology and Internal Audit. Assist in decision making over transactions and activities that may pose Financial Crimes risk to the First Line. Maintain the First Line informed on changes in Financial Crimes regulations and policies and update the respective Firm’s programs for first line accordingly.

Requirements

7+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
Experience performing Financial Crimes risk assessments for client relationships and other related Financial Crimes risk management thematic reviews.
Experience in the implementation and execution of Financial Crimes Program requirements.
Knowledge of Financial Crimes laws and regulations and familiarity with best practice First Line procedures and processes.
Experience in supporting audit and regulatory inquiries and interactions.
Bachelor’s degree in business, finance, or other related fields.
Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license.
Ability to:Operate with confidence and comfort in high-paced and high-profile environment.
Analyze, summarize and communicate effectively both, verbally and in writing.
Distill complex ideas and concepts into actionable items.
Identify issues, investigate root causes and propose comprehensive solutions.
Display strong leadership qualities and manage teams.
Influence people or teams without direct authority.
Evidence of a strong work ethic as well as a high degree of integrity.
Handle highly confidential information professionally and with the appropriate discretion.
Strong time management and planning skills.
High proficiency using MS Office suite (Microsoft Excel/PowerPoint/Word/Access).

Nice To Haves

Master’s degree in business, finance, law, or other related fields preferred.
Fluent in Spanish and/or Portuguese is a plus.
Exposure to, or experience with, AI applications/concepts for the field is desirable.

Responsibilities

Assess Financial Crimes risks from new and existing clients in order to recommend, agree and communicate individual action plans to mitigate or eliminate the risk.
Manage Financial Crimes risk through thematic coverage (latent & emerging risk), execution of heightened risk and high-risk portfolio reviews.
Provide subject matter expertise guidance and training to the first line, including managing risk appetite exception and escalations review.
Implement the Firm’s Financial Crimes program requirements and controls, developing guidance and procedures for the first line.
Ensure First Line compliance with all relevant Financial Crimes regulations, standards, and policies.
Lead Financial Crimes risks initiatives that arise for the First Line in the WM and U.S. Banks businesses.
Lead the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by Second Line.
Monitor and report metrics as well as on Financial Crimes-related activities for the First Line.
Collaborate closely with critical internal stakeholders including Senior Business Leaders, Second Line, Technology and Internal Audit.
Assist in decision making over transactions and activities that may pose Financial Crimes risk to the First Line.
Maintain the First Line informed on changes in Financial Crimes regulations and policies and update the respective Firm’s programs for first line accordingly.