Wealth Management - Complex Product Risk Officer, VP

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 21 Mar 19

Wealth Management - Complex Product Risk Officer, VP

The Complex Products Risk (CPR) team is responsible for the overall WM risk management program of futures, foreign exchange, equity options and over the counter derivatives. The team seeks to ensure adherence to internal risk management standards, controls and policies. CPR members are primarily located in NYC and are part of WM Risk Management organization.

CPR has recently been mandated to establish a specialized, centrally managed front- to- back futures supervisory function staffed by Complex Product Risk Officers (CPRO) reporting to the Complex Products Risk Manager.

CPROs would be based in NYC and other locations such that the vast majority of WM Futures Specialists would be covered by a CPRO who is based in at least geographically proximate location.

CPROs main function would be to employ exception based risk management to conduct front-to-back futures supervision in accordance Firm policies and per applicable CFTC; NFA and various exchange regulations, specifically:

  • A/C Opening - Review and Principal Approvals
  • Trade Blotter Reviews
  • Trading Limit Violation and exception management
  • Assist with preparation of Trading Limit approvals and/or request for higher trading limits to BU and/or Credit Risk
  • Active Account Reviews
  • Assist with Compliance/Regulatory Inquiries
  • Review requests for hedge spot month exemption
  • Futures Specialist Trading Exception - Review and approvals
  • Margin Monitoring with inter department follow ups
  • Position Limits Management
  • Trading Practices - Wash/Front Running/Spoofing/Layering
  • Positions at Risk Start of Day/End of Day
  • Gap Risk Report
  • Bridge Account Eligibility
  • Third Party Research Reviews
  • Futures Specialist/team EPR approvals
  • Voice Recording/VRCS BAU Requests
  • Pre-trade risk limit management and administration
  • Adhoc Voice Recording playbacks
  • Form 40/102 A/B related day-to-day supervision
  • EFP/EFS/EOO and Block Trading supervision
  • Trade error management
  • Expits and transfers
In addition they would be involved with:

  • Providing branch/complex manager with regular updates on the state of futures supervision and risk matters
  • Resolution of issues or escalations involving Legal and Compliance as needed
  • Ongoing interaction and coordination with the local risk and service teams to resolve items needing local handling,
  • Engage with relevant stakeholders to build awareness of group and function.


Knowledge, Skills, and Abilities
  • 15 + years knowledge of the Futures and/or derivatives product and markets gained either as a Trader; Operations; Risk or Compliance professional.
  • Familiarity with WM and MSCO Risk and Compliance Policies and Procedures.
  • Effective oral and written communication skills
  • Strong attention to detail
  • Ability to resolve complex problems and escalate as necessary
  • Ability to interact with multiple levels of Firm and Branch Management
  • Ability to thoroughly investigate and problem solve
  • Ability to identify issues and trends in order to provide recommended comprehensive solutions and remedies
  • Ability to see an assignment through from conception through completion
  • Ability to organize and prioritize work and meet deadlines

Licenses and Registrations:
Active Series 3 is a prerequisite for this position. Strong preference will be given to those candidates who, in addition, are registered Series 4, 7, 8 (or 9 and 10). Series 24 preferred but not required.