Wealth Management Operations Vendor Management- Director (AVP)

Morgan Stanley-posted 4 days ago

Full-time • Director

New York, NY

5,001-10,000 employees

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We’re seeking someone to join our team as a Director on the Wealth Management Operations Vendor Management team to identify and deliver material efficiency, savings and risk reduction, while maintaining the highest levels of customer experience for our internal and external partners, alike. Our team serves as a horizontal utility within WM Operations with the goal of providing effective oversight and governance for our third-party vendor relationships, while ensuring adherence to Firm-wide Operations and Corporate Framework. In the Operations division, we partner with business units across the Firm to support financial transactions, devise and implement effective controls and develop client relationships. This is an Advanced Specialist position at Director level within the Vendor/Network Management, which is responsible for providing transaction support and managing post-execution processes. Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions, and individuals around the world achieve their financial goals. Interested in joining a team that’s eager to create, innovate and make an impact on the world? Read on… What you’ll do in the role:

Manage complex processes and/or support significant process management/project efforts
Lead in process improvement, project management or technology development and testing across multiple teams and/or divisions
Analyze and expose ambiguous, complex issues or non-standard issues, identify risks, root causes and propose future actions, tracking through to resolution
Build and manage relationships with business unit partners, other Morgan Stanley infrastructure departments, and external contact points in Client or Market organizations
Leading small and medium-scale projects within Wealth Management Operations vendor services.
Ability to identify opportunities in supplier expense or to gain operational efficiencies while managing risk.
Communication with senior management to provide vendor service reporting and escalation.
Partnering with Operations, Technology and Field stakeholders in managing various special project initiatives.
Focus on risk mitigation and reporting across WM Operations, WM Risk, WM Business and Firmwide.
Partner with Sourcing to execute vendor contract renewals, amendments, task orders and monitor contract expiry.
Developing objective, data driven recommendations wherever possible.
Monthly/Quarterly Reporting - vendor oversight/performance, opportunities, financials, Includes meeting minutes, SLAs, RAG Ratings, Firmwide issues.
Monthly CORR Reporting for vendor incidents.
Vendor Incident Tracker/Corrective Action Reporting & Quality Reviews.
Smaart Invoice processing and reconciliation, approval routing.
iShield Monitoring and provide Key updates of program changes to relevant internal stakeholders and Produce Bi-weekly Vendor Management SPOC Reporting to Assist Service Owners to understand and address unfavorable Control Group Assessment findings.
Coordinate SPAR Assessments with Control Group Assessment Teams, Service Owners and Technology and Risk and Collaborate with Service Owner, if unfavorable (Weak) assessment can be remediated by reviewing Case Closure Reports.
Conduct annual vendor onsite visits for critical ranked vendors.
Collection of vendors annual SSAE18 / SOC1 documentation.
Coordinate review and acceptance with Service Owners & Risk to Populate Due Diligence Matrix and store in repository for evidencing and Participate in Audit Review Requests.

Front-to-back knowledge of the processes, projects, systems, markets and instruments that influence their team with a comprehensive understanding of job-related operational/compliance policies and procedures
Ability to think commercially, understand the impact of initiatives, risks on the operational budget
Ability to address non-standard issues within area of expertise
Culture carrier and role model, representing and leading the Firm's core values to influence and motivate those around you
Strong organizational and analytical skills and the ability to effectively summarize findings, both verbally and in writing, in a clear and concise manner.
Strong relationship management skills.
Detail-oriented and highly motivated.
Ability to work effectively with minimal supervision
At least 6 years’ relevant experience would generally be expected to find the skills required for this role

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