Vice President, Wealth Management Ops Risk
Vice President, Wealth Management Ops Risk
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$ 110000 - 190000
1 Vacancy
Job Description
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking securities investment management and wealth management services. The Firms employees serve clients worldwide including corporations governments and individuals from more than 1200 offices in 43 countries.
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 integrity excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn to achieve and grow. A philosophy that balances personal lifestyles perspectives and needs is an important part of our culture.
Legal and Compliance Division Overview
The professionals in the Legal and Compliance Division LCD provide a wide range of services to our business units. LCD is made up of the Legal Regulatory Relations and Non-Financial Risk departments which preserve the firms invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that are designed to meet regulatory requirements around the world. We also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firms businesses.
Morgan Stanley is seeking an experienced Wealth Management Coverage Officer at the Vice President level for its Operational Risk Department (ORD). The successful candidate will be responsible for developing and enhancing ORDs capabilities to oversee the operational risks associated with the provision of wealth management and banking product services through WMs almost 16000 Financial Advisors located in over 600 locations. 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. A credible understanding of financial products and wealth management services is essential to engage in constructive discussions about potential risk exposures. Knowledge of SEC and FINRA rules governing the business is required to interpret the appropriateness of policies controls and surveillance metrics. Experience with surveillance tools and data analytics to extract risk insights is required to develop 2nd line risk monitoring and management tools and reports.
Specific Functions
- Assist in leading the Operational Risk Coverage team for the Client Segment with a focus on Field Management.
- Partner with Wealth Management business to proactively identify assess challenge and drive mitigation of Operational Risks and ensure consideration of evolving regulatory expectations.
- Lead 2nd line Deep Dive reviews and ensure implementation of Operational Risk Framework elements; drive accountability model across WM Field.
- Ensure establishment of the appropriate metrics and analytical tools to support 2nd line oversight of Wealth Managements field risk including monitoring escalation and decision making.
- Help lead the monthly and quarterly risk reporting for WM ORD Coverage team that will be presented at senior business risk and board committees
- Partner with the broader non-financial risk teams including Compliance and Global Financial Crimes colleagues to provide integrated 2nd line reporting and oversight of risks impacting WM business.
- Partner with the Client Segment Risk Coverage lead in projects related to the transformation of our new oversight model.
- Participate in relevant WM Risk Committees and working groups as assigned.
Skills required:
-At least 6 years relevant experience would generally be expected to find the skills required for this role.
-Detailed knowledge of operational risk management frameworks including loss data processes issue and remediation processes risk and control self assessments and scenario analyses within Wealth Management.
-Writing concise risk management reports for executive management and boards
-Strong verbal and written communication skills with confidence to challenge business where appropriate
-Knowledge of SEC and FINRA rules governing wealth management business
-Bachelors degree minimum; MBA or other finance related graduate degree or certification preferred
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 - arent just beliefs they guide the decisions we make every day to do whats best for our clients communities and more than 80000 employees in 1200 offices across 42 countries. At Morgan Stanley youll 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. Theres also ample opportunity to move about the business for those who show passion and grit in their work.
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Expected base pay rates for the role will be between $110000.00 and $190000.00 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 Stanleys 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).
Required Experience:
Chief
Employment Type
Full-Time
