US Banks Business Control Unit Officer – Dedicated Business Risk Coverage - at Morgan Stanley

Harrison, New York, United States -

Full Time

Start Date

Immediate

Expiry Date

06 Apr, 26

Salary

140000.0

Posted On

06 Jan, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Risk Management, Payments, Analytical Skills, Communication Skills, Project Management, Operational Risk, Stakeholder Collaboration, Attention to Detail, Problem Solving, Governance, Reporting, Policy Review, Audit Support, Regulatory Compliance, Control Assessments, Documentation

Industry

Financial Services

Description

Morgan Stanley is a global financial services firm that maintains significant market positions in each of its business segments— Institutional Securities, Wealth Management, and Investment Management. Morgan Stanley, through its subsidiaries and affiliates, provides a wide variety of products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions, and individuals. Institutional Securities provides a variety of products and services to corporations, governments, financial institutions, and ultra-high net worth clients. Wealth Management provides a comprehensive array of financial services and solutions to individual investors and small to medium-sized businesses and institutions covering: financial advisor-led brokerage and investment advisory services; self-directed brokerage services; financial and wealth planning services; workplace services including stock plan administration; annuity and insurance products; securities-based lending, residential real estate loans and other lending products; banking; and retirement plan services. Our U.S. bank subsidiaries, Morgan Stanley Bank N.A. (“MSBNA”), Morgan Stanley Private Bank, National Association (“MSPBNA”), collectively, (“the U.S. Banks”) accept deposits, provide loans to a variety of customers, including large corporate and institutional clients as well as high to ultra-high net worth individuals, and invest in securities. Lending activity recorded in the U.S. Bank Subsidiaries from the Institutional Securities business segment primarily includes Secured lending facilities and Commercial real estate loans. Lending activity recorded in the U.S. Bank Subsidiaries from the Wealth Management business segment primarily includes Securities-based lending, which allows clients to borrow money against the value of qualifying securities, and Residential real estate loans. The U.S. Bank Subsidiaries seek an Assistant Vice President (AVP) to join the First Line Business Risk team to provide risk oversight for the U.S. Banks Payments Risk. He or she will be responsible for aiding in the build out of a Dedicated Business Risk Coverage team which is responsible for establishing risk management coverage model of working with the various key stakeholders within embedded risk teams ensuring continuous and consistent monitoring and escalation of the various risk frameworks (e.g. Issues/Action Plans, Operational Risk Incidents, Metrics, Reporting, Risk Assessments).. The individual will work with management, the US Bank Businesses and Risk partners to aid in the execution of key initiatives and projects while ensure compliance with U.S. Banks risk management policies and procedures. The AVP U.S. Banks Business Control Unit Officer will be responsible for the following: Job Responsibilities: Ensure the Business Risk Payments Program identifies, measures, monitors, controls, and reports current and emerging risks, maintaining a robust control environment in line with regulatory requirements. Implement effective risk management practices that support the Banks' Operational Risk frameworks for Payments, including conducting Risk and Control Assessments (RCSA) and managing operational risk incidents and issues. Collaborate with stakeholders and all three lines of defense to confirm comprehensive and consistent practices for successful oversight and proactive management of Payment Risk. Support both internal and external examinations related to payments activities by reviewing documentation and participating in meetings, walkthroughs, and issue identification. Assist in building and managing the US Banks Payments Risk Framework, and represent the Bank for firmwide alignment of Payment Frameworks. Attend and actively participate in relevant management meetings and committees to provide risk insights and support decision-making for Payment oversight. Support the Bank’s execution of key payment-related projects and initiatives, focusing on process, risk, and control identification, remediation, and operational readiness. Identify, log, and track operational risk incidents and issues from daily operations, risk assessments, audits, and independent testing, ensuring timely remediation. Develop and monitor action plans to address and mitigate operational risks, ensuring completion of remediation activities and documentation before closure. Conduct and support risk and control assessments, including RCSA, Laws, Rules & Regulations (LRR), and End User Computing (EUC) tools, aligning with the Bank’s Operational Risk Framework. Qualifications: 5+ years of professional risk management experience in financial services industry; preferably in a highly regulated environment. Experience in operations, finance, compliance, or audit is a plus. Experience with Payments activity/ risk management a plus Bachelor’s Degree in Business Management, Finance, Accounting, Economics (Preferred). Project Management expertise is a plus. Experience interacting with regulators a plus. Required Skills: Ability to work in a fast-paced, high-demand environment, both independently and as part of a team, under tight deadlines and with the ability to manage multiple priorities concurrently, efficiently, and effectively. Attention to detail, strong analytical, quantitative, and problem-solving skills. Strong interpersonal, verbal, and written communication skills; capable of clear and concise writing, making presentations to an internal audience, and interacting positively with upper management, colleagues, and clients. Risk management experience including governance, reporting, policy procedure review, audit/regulatory support. Strong project management and reporting skills. Excellent verbal and written communication skills, presentation skills and the ability to influence and interact with senior members of the Bank. Strong sense of ownership and accountability; is willing to be fungible and has an entrepreneurial spirit. Proficient use of Microsoft Office Suite of products including Excel, Word, and PowerPoint. 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. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Expected base pay rates for the role will be between $85,000 and $140,000 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).

Responsibilities

The AVP will provide risk oversight for the U.S. Banks Payments Risk and aid in building a Dedicated Business Risk Coverage team. Responsibilities include ensuring compliance with risk management policies and collaborating with stakeholders for effective risk management practices.