Senior Associate, Risk & Control Assessment

We're seeking someone to join our team as a Senior Associate to the Non-Financial Risk Assessment (NFRA) team which is responsible for designing, implementing, and maintaining the Firm's framework for identifying, assessing, and managing non-financial risks. We ensure robust controls are in place to mitigate risks and protect the firm's reputation and clients. The team partners closely with business units, technology, and risk functions to drive a culture of risk awareness and continuous improvement.

The NFRA team ensures robust controls are in place to protect the firm's reputation and clients by partnering closely with business units, technology, and risk functions to drive a culture of risk awareness. In the Legal & Compliance division, we assist the Firm in achieving its business objectives by facilitating and overseeing the Firm's management of legal, regulatory and franchise risk.

• Real impact: Your work directly improves how risk is managed across a global organization

• International exposure: Collaborate with colleagues across EMEA and beyond

• Strong career growth: Gain visibility with senior stakeholders and expand your skillset quickly

• Modern, dynamic environment: Work in a collaborative, inclusive, and fast-paced culture

• Budapest location: Be part of a growing strategic hub within Morgan Stanley

• Drive key NFRA activities and partner with teams across the business to ensure strong risk management practices

• Own NFRA program management, including stakeholder engagement, communication of expectations, and delivery timelines

• Work closely with stakeholders across business, technology, data and analytics, and risk functions to influence change across the NFRA program

• Support high-profile regulatory and audit engagements (e.g., ECB, PRA, FRB)

• Present insights and recommendations to senior stakeholders

• Turn complex datasets into clear, actionable insights

• Contribute to improving risk tools, reporting, and automation

• Identify opportunities to enhance NFRA processes, reporting, and technology

• Promote a culture of continuous improvement and risk awareness

• 4+ years of experience in financial services, consulting, or Big 4

• Solid understanding of risk & control frameworks (e.g., RCSA)

• Knowledge of regulatory risk areas (Operational, Compliance, Financial Crime is a plus)

• Strong analytical and program management skills (Excel, data analysis)

• Excellent communication skills - able to simplify complex topics

• A proactive, can-do attitude with the ability to work both independently and as part of a global team