Executive Director – Operational Risk, Electronic Trading and Technology Risk Manager

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 20 Oct 18

Executive Director – Operational Risk, Electronic Trading and Technology Risk Manager

Morgan Stanley
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share four core values rooted in integrity, excellence and strong team ethic:
1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Firm Risk Management
Firm Risk Management (FRM) enables Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.
Our mission is to serve as the follow roles:
· Independent agent to set consistent principles and disciplines for risk management
· Strategic advisor to Firm management for setting risk appetite and allocating capital
· Industry leader to influence and meet regulatory standards
You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
Firm Risk Management's unique franchise promotes:
ü Flat, flexible and integrated global organization
ü Collaboration and teamwork
ü Credible, independent decision-making
ü Organizational influence
ü Creative and practical solutions
ü Meritocratic and diverse culture
Position Description:
Morgan Stanley seeks a professional with experience in Electronic trading and Technology division of a bank, to serve as an Executive Director in the Firm's Operational Risk Department.
Based in New York, the individual will be a coverage officer within the Institutional Securities Group Coverage team for the Firm's Operational Risk Division. Electronic Trading and Technology will be the primary areas of coverage
The Firm has developed an operational risk management framework 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. The framework is based on a "Three Lines of Defense" model:
- 1st Line: Business Units/Infrastructure Groups own their operational risk and are responsible for its management;
- 2nd Line: Independent Risk Management provides independent governance and oversight of operational risk management across the Firm and partners with business units and infrastructure groups to anticipate, mitigate and report on operational risk;
- 3rd Line: Internal Audit provides independent assessment and validation.
The Operational Risk Department (ORD), and this role, operates as part of the second line of defense.
Responsibilities
The ORD (Operational Risk Department) risk management team works closely with ORD colleagues globally. The principal role of the operational risk manager is to partner with the areas of coverage, proactively identifying, assessing and driving mitigation of operational risks arising within Morgan Stanley Institutional Securities Group and other related legal entities. This is achieved by working closely across all three Lines of Defense and the businesses and functions, in addition to independent actions, challenge and interventions by ORD
Specific Responsibilities
· I dentify and evaluate risks related to the systems and information supporting firm algorithmic electronic trading activities
· P rovide challenge and guidance to 1st line of defense assessments of their risks and controls (eRCSA)
· Review completeness and execution of relevant procedures and assess assurance mechanisms for how effectively they identify weaknesses or failures of key controls
· Perform Stress Testing via Scenario Analysis on the eTrading platform
· Review technology and security risk issues as well as internal and external incidents in order to help inform the 2nd line of defense independent view of the eTrading and overall technology and security risk posture of the Firm and its underlying legal entities
· Review metrics and escalation reports to monitor risk and control-related developments, issues and trends
· Participate in relevant governance, steering, and working group committees for eTrading
· Implementation of the governance and controls policy for ORD including assisting in the development of new controls where appropriate.
· Secretariat for US ETGC
· Conduct Deep Dives into eTrading
· Communicate key risks to senior management on a regular basis, including creation of presentations articulating key risks
· Escalate emerging or developing risks as the technology and industry landscapes evolve.
· Coordinate eTrading coverage activities and share relevant findings and issues with global eTrading coverage colleagues
· Coordinate with ORD colleagues who cover Business Units and Infrastructure Groups in discussing impact of technology and security risks on business and support processes
· Build effective working relationships with a diverse set of stakeholders including: Sales and Trading, Business Unit Risk Management, Desk Quantitative Strategists, Compliance, Technology and Operations.
· Monitor industry developments in the management of technology and security risk

Qualifications:


Skills Required
· 10+ years of experience in a role with direct exposure to electronic trading (Risk Management, Technology, Production support)
· Strong product knowledge and experience in electronic trading of Equities or Fixed Income products
· Experience with electronic trading technologies and concepts, e.g. FIX messaging, market micro-structure, regulatory rules, and market data
· Exposure to trading flows and functional understanding of software components, specifically algorithms and order routers - either as a trader, strategist, risk manager, or technologist
· Understanding of market structure, rules/regulations, and trading control frameworks
· Technical and quantitative aptitude to be able to identify and quantify operational risks and exposures
· Strong relationship builder and is able to liaise across all levels of business and technology teams, including senior management and governance structures, across all regions
· Self-starter who can work independently and proactively with strong organizational skills and attention to detail
· Strong verbal and written communication skills. Able to present with impact and influence.
· Ability to challenge current thinking and suggest ideas of how to improve results
· Strong project management and the ability to manage multiple assignments concurrently
· Familiarity with software development life cycle (SDLC) framework and controls