Morgan Stanley is a global financial services firm that conducts its business through three principal business segments - Institutional Securities, Wealth Management, and Investment 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.
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Department Profile:
The Investment Management (IM) 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 IM 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.
Primary Responsibilities:
The Issue & Change Management and Internal Controls VP is responsible for executing the firm's first line Financial Crimes program for IM. The role will be responsible for managing IM's issues and change management action plans in relation to Financial Crime risk, as well as implement internal control to self-test the IM FCR team. This position will work closely with Global Financial Crimes (GFC) stakeholders to ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations.
The Issue & Change Management and Internal Controls VP will:
- Lead assessment, collaboration and response compilation for closure verification of Issues and related action plans arising from regulatory exam/monitoring, Audit exam, and GFC Testing findings, as well as Self-Identified Issues
- Monitor, track and provide reporting on Action Plan progression and facilitate timely completion.
- Central point to complete intake of new Self-Identified Issues in OpenPages including responsibility of issues and action plans descriptions, feasibility of action plans, timelines and severity.
- Coordinate with cross-functional stakeholders to identify/agree on issue scoping, process, dependencies, milestones, and major deliverables.
- Assist with the design and development of comprehensive action plans as required (e.g. regulatory, strategic, transformation initiatives or policy implementations.)
- Create and provide reporting on issues and action plans to relevant risk and control committees.
- Assess and escalate potential completion risks to remediation requirements under Action Plans, as applicable (e.g., identified technology gaps)
- Establish and manage feedback loop to ensure all issues and action plans are tagged to the right taxonomy, risks and controls assessments as per Firm's operational risk framework.
- Collaborate with internal stakeholders including Business Leaders, Second Line, Technology, and Internal Audit.
- Support the centralized FCR Change Management team in implementing IM initiatives through the Change Management lifecycle from initiation to assessment, planning, and execution.
- Support the FCR self-assessment team in implementing necessary controls and testing for activities performed by the IM FCR team. Initiate and track Action Plans when deficiencies are identified.
Required Experience and Skills:
- 8+ 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.)
- Have an undergraduate degree in Business, Finance, Legal, or other related fields.
- Strong understanding of Investment Management processes as well as Investment due diligence practices for Public and Private Funds.
- Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
- Implementation and execution of Financial Crimes Programs requirements
- Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes
- Operate with confidence and comfort in high-paced and high-profile environments.
- Analyze, summarize and communicate effectively.
- Distill complex ideas and concepts into actionable items.
- Identify issues, investigate root causes and propose comprehensive solutions.
- Handle highly confidential information professionally and with appropriate discretion.
- Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.
- Knowledge of Financial Crimes regulatory requirements and expectations
- Working knowledge of MS Office (Microsoft Excel/PowerPoint/Word/Access)
- Strong time management and planning skills
- Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
- Experience in supporting audit and regulatory inquiries and interactions.
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 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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.
We're committed to bringing passion and customer focus to the business.
Expected base pay rates for the role will be between $140,000 and $200,000 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).