Morgan Stanley is currently seeking candidates for a Vice President position to join the Annuities and Insurance Central Review Unit (AICRU). In this capacity, the VP may function independently or manage a small team of Risk Principals who interact with Financial Advisors (FAs), Branch Managers and Complex Risk Officers (CROs) to ensure compliance with governing regulations, internal policies and resolution of issues. The VP will also partner with the firm's internal annuity wholesalers, annuity sales desk specialists and working group colleagues in Legal, Risk, Compliance, Platform, Operations and Technology as needed.
The successful candidate's responsibilities will include but not be limited to the following:
- Function independently or manage a team of Risk Principals (RPs) who are responsible for performing product and know your client appropriateness reviews for all proposed annuity new business, carrier direct, replacement transactions, annuity withdrawals, and required documentation, Also, ensure compliance with AICRU review Service Level Agreements and provide guidance regarding complex transactions.
- Conduct Quality Assurance Testing to monitor the RPs compliance with AICRU and regulatory standards pertaining to the supervisory approval of annuity transactions.
- Meet with FAs, CROs, Branch managers, and internal wholesalers as necessary to resolve any conflicts and/or escalations.
- Support the head of AICRU with carrier sales practice audits, regulatory audits, internal audits, and special projects as needed.
- Provide vacation and/or illness coverage when necessary and conduct 'know your client (KYC) appropriateness reviews of proposed annuity business, annuity withdrawals and required documentation.
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Qualifications:
- Strong working knowledge of annuity products and their riders, benefits and features
- Prior Risk, Compliance, Audit or Sales experience in annuities and/or branch supervision
- Proficient understanding of areas of regulatory focus and business goals
- Excellent analytical ability while consistently demonstrating strong attention to detail
- Excellent interpersonal, communicative and persuasion skills
- Strong organizational, planning and time management skills in order to multi task competing priorities in a fast paced and dynamic environment
- Ability to follow specific directions and function independently or part of a team
- Ability to work collaboratively with senior levels of management within the business, Legal, Risk, Compliance, Platform, Operations and Technology
- Prior supervisory experience is a plus
Required Education, Licenses and Qualifications
- Active FINRA & State Licenses: Series 7, 24 or 9/10 required
- An undergraduate degree; MBA a strong plus
- Microsoft and Adobe Suite
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
Expected base pay rates for the role will be between $110,000 and $180,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).