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 a Vice President 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 Vice President will report to the MSPBNA Lending Business Control Unit, Vice President, and will be based in New York. 

 

• Represent the BCU team in Lending cross-product risk related initiatives to ensure the Lending products are connected to firm-wide or Bank-wide programs, including being able to identify the need for technology and process changes within the products.

• Perform and oversee tasks associated to Risk Control Self Assessments (“RCSA”), including: 

• Evaluating and documenting risks, impacts and mitigating controls within the Lending Business Processes.

• Engaging with business partners in the execution of the RCSA.

• Performing and documenting test results.

• Proactively identifying risk prevention opportunities within the business processes.

• Partner with BU to Identify, measure, monitor, control and report on operational risks within the Bank’s lending businesses.

• Work with Risk partners such as Legal, Compliance, Central Business Risk and 2nd Line Risk Groups to resolve issues and obtain guidance as necessary.

• Manage issue and incident identification, reporting, tracking, documentation and closure for assurance of effective remediation related to control breaks.

• Advise on the creation and maintenance of process flows for lending business processes.

• Participate in Business Continuity management for the lending businesses.

• Oversee the creation and maintenance of operational risk metrics, including analysis of existing metrics and development of new metrics to monitor key risk and performance indicators.

• Execute the compilation and review of business risk assessments by partnering with risk owners.

• Manage a centrally documented model for quality review processes.

• Produce, review and manage procedure documents.

• Partner on new product development activities to identify risks and controls.

• Manage the creation, delivery, and maintenance of a consolidated Lending risk reporting framework.

• Consolidate issues and incidents across lending; create decks for issues summaries.

• Produce management reporting materials and prepare for monthly risk meetings.

• Produce Excel reporting and perform data analysis as needed.

• 7+ years of Risk Management or Financial Product Management experience

• Lending product knowledge (preferred)

• Private Bank experience (preferred)

• Experience in risk assessments and exams – Regulator, Internal Audit, Operational Risk and Compliance 

• Strong understanding of RCSA, or similar operational risk management framework

• Experience in evaluating processes to identify risks and in designing and evaluating mitigating controls

• Experience working with cross-functional teams

• Must have excellent teamwork orientation and the ability to work independently in a fast-moving environment

• Experience in creation of process flows in Visio or Power Point

• Strong Computer skills a must; familiar with how to navigate SharePoint and a Microsoft Windows environment and have a strong knowledge of Microsoft Office software

• College degree required, advanced degree a plus

• Ability to build and maintain strong relationships with business users and risk partners

• Ability to create clear and concise communications using strong analytical and writing skills 

• Ability to create executive summaries and issues/risks summaries

• Ability to influence decision-making and improve risk management behaviors with business stakeholders

• Attention to detail and investigative problem-solving abilities

• Proven track record to work across organizational boundaries; build consensus across teams

• Ability to create PowerPoint presentations for business users or senior management that summarizes risk issues and assessment results

• Proficient in excel with VLOOKUP’s, Charts, graphs and data analytics 

• Confident, proactive and independent self-starter

• Adept at working in a fast-paced, high-energy environment

• Strong analytical capabilities and problem solving 

• Strong organizational skills

• Ability to plan and prioritize for deadlines, multi-task and work under tight timelines

• Solid follow-up and follow through

• Excellent attention to detail

• Ability to effectively navigate the systems/tools for RCSA, Risk Incidents and Issues Management

Expected base pay rates for the role will be between $120,000 and $180,000 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).