Wealth Management Operational Risk Coverage Professional

Morgan Stanley • Dallas, TX

1d • Onsite

About The Position

The role will reside within the Operational Risk Department. Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing). This position directly supports a senior-level team in operational risk by providing analytical, decision-making, and presentation support. The successful candidate will be responsible for developing and enhancing ORD's capabilities to oversee the investment and product risks associated with the provision of wealth management and banking product services through WM's almost 16,000 Financial Advisors located in over 600 locations. Strong knowledge of financial products and wealth management services is essential to engage in constructive discussions about investment risks relative to a client's goals, investing experience, product knowledge, and risk tolerance. Specific experience with surveillance tools and data analytics to extract risk insights is required to develop 2nd line risk monitoring and management tools and reports. As this role sits in the 2nd line Wealth Management Risk coverage organization, a key enabler for success will be the ability to establish strong relationships across the organization, while maintaining a healthy challenge with the business teams.

Requirements

• 5 years' experience in relevant operational risk roles.
• Extensive knowledge of financial products, ideally wealth management product services.
• Detailed knowledge of operational risk management frameworks, including loss data processes, issue and remediation processes, risk and control self-assessments, and scenario analyses.
• Self-starter with ability to initiate, plan and execute projects.
• Control mentality with an ability to anticipate unforeseen consequences.
• Strong verbal and written communication skills with confidence to challenge business where appropriate.
• An undergraduate degree (B.A., B.S., or equivalent)

Responsibilities

• Support the Independent Risk Management oversight for Wealth Management's Investment Solutions organizations, including Advisory Services and Capital Markets.
• Establish, maintain, and execute the Operational Risk Management Oversight Framework.
• Identify risk issues in the business and perform reviews into such areas to identify gaps, perform Deep Dives and recommend risk mitigations strategies.
• Establish appropriate metrics and analytical tools to support 2nd line oversight of Wealth Management's investment and product risk management to allow for ongoing monitoring, escalation and decision making with advancements to set thresholds that require 2nd line approval.
• Provide ad-hoc, monthly, and quarterly risk reporting.
• Collaborate with business and risk control functions

Benefits

• Ample opportunity to move about the business for those who show passion and grit in their work.
• Attractive and comprehensive employee benefits and perks in the industry.
• Morgan Stanley sponsored benefit programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees