Operational Risk Department - EMEA Operational Risk Coverage Officer - Vice President Operational Risk Department - EMEA Operational  …

Morgan Stanley
in London, England, United Kingdom
Permanent, Full time
Last application, 25 May 20
Morgan Stanley
in London, England, United Kingdom
Permanent, Full time
Last application, 25 May 20
See job description for details

Operational Risk Department – EMEA Operational Risk Coverage Officer - Vice President

Company Profile

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile

The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the Firm from exposure to losses resulting from defaults by our lending and trading counterparties.

Morgan Stanley is seeking an experienced Risk professional for its EMEA Operational Risk Department (ORD) within Firm Risk Management. Operational Risk refers to the risk of financial or other loss, or potential damage to a firm’s reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets) impacting the full scope of its business activities, including revenue-generating activities and infrastructure groups.

Given the nature and breadth of operational risk, operational risks are managed at multiple levels e.g. Firmwide, as well as Regional, Business Unit, Infrastructure Group, Control Function and Legal Entity.

The Firm has developed a robust Operational Risk Management Framework designed to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The Framework is deployed across Business Units, Infrastructure Groups and Control Functions globally, regardless of Region or Legal Entity. The Framework is based upon a “Three Lines of Defence” model within which ORD operates as part of the Second Line of Defence, providing independent oversight and challenge to the management of operational risk across the Firm.

We are looking to attract a senior recruit to the EMEA Operational Risk Coverage team, based in London (20 Bank Street), reporting to the Head of EMEA Operational Risk Management Coverage.

Primary Responsibilities

The EMEA Operational Risk Management Coverage team is responsible for working with business and infrastructure units to identify, analyse, assess and challenge operational risk associated with the processes and controls relevant to each area. Coverage Officers are responsible for driving the effectiveness and embeddedness of the Operational Risk Management Framework within the Firm’s Business Units, Infrastructure Groups and Control Functions.

Specific responsibilities include:

• Enhance / build solid client relationships with key individuals relevant to designated coverage responsibilities;

• Develop in-depth understanding of the business and operational risks within designated coverage areas;

• Assist the divisions in highlighting their Key Operational Risks and management of risk levels against designated risk tolerance limits at a divisional and Firm level;

• Carry out deep dives into material operational risk events (internal and external) and analyses of thematic and emerging operational risks;

• Assist in the enhancement of the Operational Risk programme and embedding of the framework and standards

• Assist in reporting to Boards and Committees


Skills Required

• Strong capital markets (sales and trading) business knowledge, ideally having worked within an Operations department of an investment bank;

• Prior experience in risk management, or other risk/control based roles, preferred;

• Confidence to take ideas forward and to challenge others;

• Proven ability to anticipate and identify risks and effective mitigants;

• Good understanding of banking regulation, especially relating to operational risk management, highly desirable;

• Strong organizational skills with the ability to multitask and prioritise; ability to work under pressure and to tight deadlines;

• Excellent communication skills, both verbal and written; ability to produce concise and effective presentations

• Ability to work in a team environment, building and maintain a network of contacts and coordinating with a large number of stakeholders

• Experience in dealing with regulators an advantage, but not essential

• Bachelor’s degree or equivalent, ideally in a quantitative discipline, Finance, Economics or similar;

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.

Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.

Given the continued spread of COVID-19 (coronavirus), all interviews will be conducted by phone or virtual connection to protect our candidates and employees.