Internal Audit -Wealth Management

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 17 Nov 17 2017-11-17

Internal Audit -Wealth Management

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.

Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firm's internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm's compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The department reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements. Internal Audit is comprised of Business, Risk, Compliance, Finance and Technology audit groups. Business, Risk, Compliance and Finance auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes, including systems development, application security and entitlements, production management, and technology governance. All groups are responsible for understanding, analyzing and testing the controls to protect the franchise.

Department Profile Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firm's internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm's compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The team reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements. Internal Audit is comprised of Business, Risk and Technology auditors. Business and Risk auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes, including systems development, application security and entitlements, production management, and technology governance. Both groups are responsible for understanding, analyzing and testing the controls to protect the franchise. Morgan Stanley is seeking a Senior Manager to join its Wealth Management Internal Audit Division. The successful candidate will be an auditor for the Firm, to ensure that audit and regulatory requirements are being met in accordance with set standards. This position will be located in NYC.

Primary Responsibilities
• Manage, analyze and evaluate the Firm's Wealth Management brokerage business, for retail and institutional clients, and focusing on investment products, sales practices, client suitability, and operations framework to evaluate the risk and control framework supporting the business.
• Conduct risk assessments for Wealth Management audit entity universe to help drive the risk-based audit plan.
• Executing the annual risk-based audit plan to provide appropriate coverage of retail brokerage activities, ensuring execution of the audit plan within departmental methodology, policies and standards.
• Executing audits from start to completion including detailed walkthroughs of key processes to identify internal controls, developing and execution of tests of control and substantive testing procedures for key controls, execution of testing, identification and reporting of issues. Involvement in scope determination, audit planning memos, developing testing plans, review of staff fieldwork, issue identification, issue discussions with clients and report writing.
• Provide management with an independent and objective evaluation of the control environment and evaluate management's control consciousness.
• Conduct, as appropriate, quality assurance reviews to ensure compliance with department documentation standards .*LI-ND1

Qualifications:

• Six-nine years of audit experience, related retail brokerage or regulatory experience within the financial services industry. Previous audit experience with a complex or medium size bank or broker dealer that focused on retail broker dealer sales practice and suitability trading activities or related public accounting audit experience.
• A strong technical understanding of the regulatory environment with respect to FINRA, SEC, and Federal Reserve regulations.
• Proficient understanding of the internal audit process including risk assessments, planning, scheduling, reporting, continuous auditing. Multi-tasking of various projects and deadlines.
• Strong verbal and written communication skills for audit reporting discussions with Senior Audit and Business Management. Prior experience communicating with regulators a plus.
• Experience with local, state and federal securities laws a plus.
• A B.S. degree in business including Economics, Finance, Accounting, etc.
• CPA, CIA or other related licensing a plus.