Head of Global RRQA - Executive Director

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

Head of Global RRQA - Executive Director

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 Finance Division reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firm's books and records, and by contributing to firm wide risk management and risk reduction. This division maintains relationships with Morgan Stanley's various industry and government regulators, and also serves as the conduit of financial information to the outside investment community. Finance plays a critical role as advisor to Morgan Stanley's various businesses and its senior management team.

Position Description:
The Regulatory Reporting Quality Assurance (RRQA) Group is a global independent process validation function that sits within the Finance Division with coverage responsibility across key processes upstream and downstream of Firm Risk Management supporting Capital, Credit, Liquidity, Market and Operational Risk. RRQA is also responsible for validating processes supporting regulatory reporting by various US, UK and regional regulators as determined through its annual scoping and prioritization activities.

RRQAs objectives include, but are not limited to, validating the regulatory reporting control environment which includes key controls, data, models, methodology and processes from transaction capture through sourcing and consolidation. The teams remit focuses on the Basel Advanced and Standardized capital calculations, regulatory requirements for Comprehensive Capital Analysis & Review (CCAR) and Dodd-Frank Act Stress Test (DFAST). In addition, RRQA is an active participant in several strategic regulatory initiatives.

This opportunity includes leading the Global RRQA Group and reports into the Global Head of Finance Risk. The team has a presence in New York, Glasgow and Mumbai. The candidate should have strong management skills and a proven record of managing a large agenda/providing strategic direction across multiple disciplines, including the associated senior management and governance reporting for the entire function. In addition, the candidate must have subject matter expertise in the areas of process and control design and assessment/testing, the various Banking, Financial Holding Company and Basel regulations.

- Day to day oversight and management of the global team and RRQA agenda which includes providing guidance and technical input on independent process validations being performed
- Interface with key/senior stakeholders, governing bodies and business partners to discuss the status of the validation work, results of test work, and quarterly reporting
- Participate in internal and regulatory exams and lead responses to requests and findings
- Partner with fellow validation teams such as the SOX Testing Team, Model Risk Management and Risk Process Validation teams to drive and support a unified validation program
- Continually monitor Internal Audit and regulatory expectations and changes to reassess and enhance the Independent Process Validation framework


- At least 10 to 15 years of financial services experience
- Experience with core banking, investment and trading products, and regulations
- Strong technical understanding of the financial services regulatory environment, with a focus on Basel and CCAR/DFAST principles and Capital, Credit, Liquidity, Market and Operational Risk
- Excellent risk, process and control validation and/or assessment skills - a prior role within consulting, compliance or internal audit covering regulatory/risk processes is desirable
- Strong communication, analytic, risk management, and program management skills
- An undergraduate degree (BS or equivalent) required
- Professional qualifications such as a CPA would be advantageous