WM Vendor Risk Associate

Morgan Stanley • New York, NY

124d • $58,000 - $115,000

About The Position

The Wealth Management (WM) Chief Data Office (CDO) sits within the WM Risk organization and strives to find the right balance between risk management and business enablement. WM CDO’s mission is to: prevent unauthorized access to or misuse of client sensitive data and assets; abide by relevant privacy laws and regulations; effectively retain, retrieve, and protect information and records; and mitigate risks caused by inaccurate, untimely, or incomplete WM data. The Vendor Risk Team within WM CDO works to ensure third-party relationships supporting WM are subject to appropriate risk management oversight. The team is seeking an Associate to support its efforts to ensure that vendor-related risks are inventoried, measured, and mitigated to the extent possible.

Requirements

• Bachelor's degree
• 3-5 years of relevant risk management experience
• Excellent communication skills (verbal and written)
• Attention to detail, strong analytical, quantitative, and investigative problem-solving abilities
• Strong organization and time-management skills, with the ability to swiftly transition between projects and tasks
• Ability to work independently, be self-motivated, and possess a strong sense of accountability/ownership
• Excellent MS Office skills (Excel, PowerPoint, Word)
• Ability to contribute to and collaborate with a global team

Nice To Haves

• Knowledge of the financial services industry; preferably in wealth management, finance, operations, or technology
• Prior experience with third-party relationship management
• Experience with content and project management tools, including ProcessUnity, Jira, and ServiceNow
• Familiarity with visualization tools (e.g., Tableau, Dataiku)

Responsibilities

• Facilitating the onboarding and due diligence process for new WM third-party relationships
• Reviewing and following up on the results of risk assessments conducted by due diligence and control groups, escalating issues for remediation/resolution within Service-Level Agreements (SLAs)
• Supporting WM third-party relationship managers with end-to-end lifecycle management
• Helping manage time-sensitive vendor-related incidents (e.g., data breaches), including tracking action items, preparing summaries for management, and coordinating post-incident 'lessons learned' activities
• Developing and maintaining WM Vendor Risk desktop procedures and processes and creating and updating knowledge-sharing documentation
• Assisting with recurring and ad hoc reporting of Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs)
• Assisting with the development of presentations for senior management and key stakeholders
• Liaising with Operations and Technology counterparts to ensure that any third-party services directly supporting the WM business meet WM third-party risk management standards
• Overseeing resilience-related requirements for critical WM third-party service providers (e.g., contingency and exit plans and associated testing)
• Representing the WM perspective in enterprise-wide discussions about tooling related to third-party risk management
• Tracking the destruction or return of WM data shared with third-party service providers once any stipulated retention requirements have been met
• Producing quarterly/biannual reporting to WM business areas on the nature of their third-party risk footprint along with strategic recommendations to consolidate vendor relationships or enhance supplier oversight activities
• Assessing emerging third-party risks and industry trends and advising the WM business on how risk management processes should adjust or scale to account for new risks

Benefits

• Comprehensive employee benefits and perks
• Opportunities for career advancement within the company
• Support for employees and their families at every point along their work-life journey

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees