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    Assistant Vice President Field Operational Risk Officer - Purchase, United States - M S CO

    M S CO
    M S CO Purchase, United States

    2 weeks ago

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    Description
    :

    Morgan Stanley ("MS") is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Global Wealth Management via Wealth Management (WM), and Asset Management.

    WM's network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion.

    WM 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.

    Morgan Stanley Private Bank, National Association ("Bank" or "MSPBNA") provides deposit and lending products and services to serve the needs of Wealth Management clients and seeks a Field Operational Risk Officer as part of the Bank's First Line Operational Risk Organization.


    The Field Operational Risk Officer will perform offsite risk monitoring and onsite education and training of the operational and compliance risks related to the banking and lending activities of Private Bankers and Financial Advisors within the Field Operational Risk Officers' dedicated region.


    The Field Operational Risk Officer will report to the Bank's Head of Field Risk and will be based in the Chicago Metro (IL) or New York City Metro (NY) areas.


    Note*:
    This role is a Hybrid working model

    The Field Operational Risk Officer will be expected to:


    Serve as the Bank's in-field primary resource concerning operational risks related to cash management and lending products and services


    Educate, advise and provide guidance to the field on questions and issues pertaining to products and services offered by the Bank


    Partner with, and leverage firm-wide monitoring groups and tools to oversee cash management and lending activities conducted by employees of the Bank in WM branches, to help ensure compliance with all applicable regulatory rules and all Firm and Bank policies and procedures


    Conduct daily and periodic monitoring activities and maintain accurate metrics and reporting for U.S. Banks Senior Management


    Contribute to the preparation of senior management presentation materials


    Create/Maintain/Own applicable field risk policies, procedures, and control libraries pertaining to the U.S. Banks field risk program


    Track and monitor risk indicators and conduct timely escalation of emerging issues to senior management


    Prepare and summarize results of offsite monitoring


    Assist with ad-hoc and annual risk vetting requests from various partners across Morgan Stanley


    Conduct 1st line quality insurance (QA) reviews


    Work collectively with Field and Bank management to identify, monitor, control and address operational risk-related issues


    Partner with and leverage the Firm and Bank's Operational Risk Team frameworks and programs


    Contribute to the preparation of senior management presentation materials


    Travel Expected: 0-15%


    The Field Operational Risk Manger should have:

    Bachelor's Degree or higher


    5+ years of experience in operational risk management, business management, legal/compliance, banking and lending product risk advisory, or internal audit


    Strong understanding of operational risk within the Financial Services industry (e.g. Private Banking, Retail Banking, Investment Banking and/or Wealth Management)


    Broad knowledge of lending and deposit product risks including risks related to institutional and retail lending products (including residential home loans, securities based loans, commercial real estate lending, fixed income secure lending and equity financing) and deposit and cash management products and services (including ACH, wires, Person to Person (P2P), CDs/Structured CDs and credit/debit cards)


    Qualifications:

    Skills/Abilities:

    Ability to manage multiple tasks concurrently in an efficient and effective manner


    Strong organizational project management and reporting skills


    Effective written and verbal communication skills


    Ability to work both independently and with team members under tight deadlines


    Ability to execute in a fast paced, high demand environment while balancing multiple priorities


    Ability to manage initiatives involving process improvements


    Ability to build effective business partnerships across the Bank and Firm


    Ability to own an oversight framework element and proactively enhance that framework when needed


    Proficiency in Microsoft Office applications including Excel, PowerPoint, Tableau, SharePoint


    Expected base pay rates for the role will be between $80,000 and $125,000 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.

    *Expanded legislation requires that roles that sit in other state locations, but report to a manager in NY, must have the above language included in postings with the pay scale reflective appropriately to the location where the role will be sitting.


    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).

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