Fraud Operations Payments VP - Firmwide Operations

  • Competitive
  • Baltimore, MD, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 19 Oct 18

Fraud Operations Payments VP - Firmwide Operations

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.

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Firmwide Operations includes Fraud Operations, Shared Services and Banking Operations (SSBO), Operations Risk and Control, Global Project Group and Metrics, Branch Operations, and Divisional Management. Fraud Operations is a global organization responsible for assessing, mitigating, and preventing fraudulent activities across multiple product lines and services in order to protect the firm and its clients.

In an effort to protect our clients' assets, provide a safe and secure banking environment, and to minimize financial losses to the Firm from systematic security risk, the Fraud Operations Team is tasked with monitoring and analyzing client activities in order to detect and curtail fraud. The Fraud Operations Team's primary responsibilities are the identification, mitigation, and incident management of potential fraudulent banking transactions detected by a suite of detection tools, and the expeditious investigation and resolution of client initiated fraud claims.

The global team is expanding and is seeking a leader in the payments and cash management space. The successful candidate should be a subject matter expert in the cash management/payments business lines and familiar with payment Operations processes and procedures as they relate to fraud prevention.

Responsibilities:
- Work with product and process owners to conduct fraud risk assessments on the control environment and end-to-end processes of payment business
- Design and execute a plan to improve control environment
- Assist with implementing new policies and strategies for fraud prevention
- Establish fraud surveillance and defense techniques
- Work with data analysts and scientists to build scenario and model-based surveillance capability
- Working with the stakeholders to prioritize work and drive milestones
- Drafting recommendations to address business needs based on analysis
- Defining solutions (process-based, reporting-based, technology-based) to business issues
- Facilitating cross-functional groups to achieve common goals
- Program Governance and Reporting; establishing governance around program reporting, tracking of risks and issues, project status and deliverables
- Identify emerging fraud trends and recommend appropriate mitigation strategies
- Forge relationships across divisions, including Information Technology, Legal & Compliance, Operations, Credit, and Finance to assist in the implementation of fraud remediation initiatives

Qualifications:

Skills Required:
- Industry knowledge on the fraud threat environment facing payments and cash management operations

Skills Desired:
- Experience of Finance, Banking, Insurance or similar businesses a strong plus
- Knowledge of the financial crimes industry