Associate First Line of Defense - Business Control Unit
Job Type
Job Details
Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $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 (“MSPBNA”) provides cash management and lending products and services to serve the needs of WM clients. The US Banks seeks an Associate to join the First Line of Defense MSPBNA Lending Business Control Unit (BCU). The candidate will support the operational risk program for lending products including Securities Based Lending, Tailored Lending, Private Share Lending and Residential Mortgage.
The BCU Associate will report to the MSPBNA Lending Business Control Unit, Vice President, and will be based in New York.
The Business Control Unit Associate will:
Reporting Responsibilities:
• Participate in the development and maintenance of consolidated reporting for management and committee reporting related to the Lending risk framework, including ad hoc reporting as needed
• Provide summarized reporting on Issues and Incidents for Lending at both the business unit level and a consolidated level
• Support in the development, review, and maintenance of procedures for Lending as needed
• Produce PowerPoint slides for ad hoc status reporting and for monthly risk meetings
• Produce Excel reporting and perform data analysis as needed
Risk Oversight Responsibilities:
• Perform tasks associated with Risk and Control Self-Assessment (“RCSA”), including:
• Documenting risks, impacts and mitigating controls within the Bank’s Risk Management systems for Lending Business processes
• Supporting business partners in the execution of the RCSA
• Support in responding to requests and remediation of findings/observations related to control testing
• Create and manage business process flows for lending business processes
• Support with issue and incident identification, documentation, and closure for assurance of effective remediation related to control breaks. Includes tracking progress and status reporting
• Support the BCU to identify, measure, monitor, control, and report on operational risks within the Bank’s lending businesses
• Support in Business Continuity Management activities for the lending businesses
• Support a centrally documented model for quality review processes
• Assist in compiling and reviewing business risk assessments by partnering with BCU and risk owners
• Assist in the creation, maintenance, and monthly reporting of metrics, including analysis and escalation of metrics performance against thresholds and development of new metrics to monitor key risk and performance indicators
• Support with internal and external exams
• Support new product development activities to identify risks and controls