Wealth Management Operational Risk – Risk Review Officer - Assistant Vice President Wealth Management Operational Risk – Risk Review  …

Morgan Stanley
in New York, NY
Permanent, Full time
Be the first to apply
Morgan Stanley
in New York, NY
Permanent, Full time
Be the first to apply
Wealth Management Operational Risk – Risk Review Officer - Assistant Vice President
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, achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
MS Wealth Management Operational Risk
Morgan Stanley Wealth Management (MSWM) Operational Risk group is responsible for overseeing the operational risk and control framework within the Wealth Management business unit. This team partners with the Business Risk and Control groups throughout the organization to implement control processes and procedures, report operational losses and reporting, manage audits and exams with Compliance and Internal Audit, organize the annual Risk and Control Self-Assessment, and coordinate new operational risk programs in partnership with the business as well as Firm Operational Risk Management.
Key Responsibilities will include but are not limited to the following:
This role will provide broad exposure to all functions and business lines within Wealth Management. The main responsibilities for this role are as follows:
Deep Dives: Performing "deep dive" or residual risk reviews for high risk business processes, products, services and activities. The "deep dive" reviews will include:
• Assessment of risk and control data and related processes, documentation of process workflows and controls
• Development of testing procedures of controls, and performing control design and effectiveness tests
• Development of remediation plans, as necessary, and monitor status accordingly
• Documentation and reporting of observations and recommendations to relevant Management team
• Coordination with Business Units at the completion of deep dive reviews to ensure that risks are effectively managed and documented in the Risk and Control Self-Assessment (RCSA)
Policies and Procedures: Oversee the Wealth Management framework for development and maintenance of relevant policies, procedures and Written Supervisory Procedures. This will include:
• Oversight and management of policy and procedure documentation to ensure adherence with framework
• Coordination with Business Units to ensure all policies and processes are documented within governance framework
• Perform remediation reviews to identify gaps and additional areas that need to be documented


Specific qualifications required are:
• Bachelor's degree required
• Securities licenses a plus
• Minimum of 4-5 years of related experience in Financial Services, preferably within Wealth Management, and involvement in Operational Risk Management
• Prior experience of performing Audits, Compliance Exams or Six Sigma certification/process re-engineering/process improvement experience is a plus
• Knowledge of products and markets, particularly around retail brokerage or investment advisory programs, trade support, banking products and capital markets
• Analytical and problem solving skills (critical thinking ability)
• Project management skills and ability to manage many competing priorities
• Ability to manage projects by ensuring on-time delivery and a high level of quality
• Strong written and verbal communications skills, ability to interact at all levels of the organization and tailor messages appropriately
• Ability to draw conclusions and provide recommendations in a clear, concise, and constructive manner, both orally and in writing
• Ability to work in a small team environment, build and maintain a network of contacts and coordinate with a large number of stakeholders
• Highly skilled in Microsoft Excel, PowerPoint, Word, and Visio
• Strong knowledge of the regulations governing the financial industry

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