The Private Wealth Management Complex Risk Officer is responsible for a wide variety of supervisory, compliance, and risk functions. In conjunction with the Senior Complex Risk Officer, the PWM Complex Risk Officer has accountability for maintaining a consistent controlled environment through adherence of business ethics and practices and adherence to all applicable Federal, State and Local laws, Morgan Stanley Wealth Management policies, and other regulations. The PWM Complex Risk Officer keeps the Senior Complex Risk Officer informed of significant matters. The PWM Complex Risk Officer role is a non-revenue sharing position that has dual reporting to the Complex Manager and Senior Complex Risk Officer.
DUTIES and RESPONSIBILITIES:
Surveillance and Supervision
- Primary responsibility for all risk, supervisory, and compliance function for respective branch location(s)
- Facilitates any supervisory inquiry or process that requires escalation from the Senior Complex Risk Officer and/or the Regional Risk Officer
- Focuses on business ethics and regulatory and compliance practices
- Provides coaching and guidance on policies and procedures in order to promote risk awareness and a compliant environment
- Ensure proper procedures are in place to ensure that approvals are handled appropriately and timely
- Monitors and implements procedures to manage all facets of risk, including data security
- Facilitates regular and consistent communication of Morgan StanleyWealth Management policies and other regulations
- Liaises with the Legal and Compliance Division with customer complaints and litigation
- Together with the Complex Manager and Senior Complex Risk Officer, ensures appropriate supervisory coverage is maintained at all times
- Oversees responsibilities outlined in the Branch Supervisory Manual, as well as new policies to ensure the Complex has procedures in place
- Supports in the preparation for and response to audits, and ensures that any audit findings are appropriately responded to and remediated
- Works with Complex Manager and Senior Complex Risk Officer to monitor people risk, and ensures appropriate action is taken
- Responsible for proactive client contact in determining suitability and managing risk
- Active involvement with the region regarding matters presented to the Credit Committee
- Primary source for intelligence on risk in regard to clients and FAs
- Works closely with Special Investigation Unit on any Human Resources issues as related to risk and compliance.
- Together with the Senior Complex Risk Officer facilitates the training on Morgan Stanley Wealth Management compliance policies and procedures.
- Assists in the review and on boarding of FA recruits
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