US Banks First Line Risk - Regulatory & Audit Oversight Officer Vice President
Morgan Stanley ("MS") is a global financial services firm that conducts its business through three principal business segments: Institutional Securities Group ("ISG"), Global Wealth Management via Wealth Management ("WM"), and Asset Management. WM's network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. WM provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement and trust services.
The US Banks - Morgan Stanley Private Bank, National Association ("MSPBNA") and Morgan Stanley Bank, N.A. ("MSBNA") - provide cash management and lending products and services to serve the needs of WM & ISG clients and seeks a Vice President ("VP") as part of the US Banks First Line Risk team. The VP will report to the Head of the US Banks Regulatory and Audit Oversight and will be responsible for supporting the Regulatory and Audit Oversight program.
The role will be based in New York, New York.
This individual will be responsible for supporting the 1LOD regulatory risk and audit oversight programs.
Regulatory Oversight and Support
• Partner with Regulatory Relations and management to coordinate the exam process for the two US Banks.
Complement the Regulatory Relations program without duplication
• Ensure the Banks are adequately prepared for upcoming meetings and exams.
• Manage the development, implementation and execution strategy of the 1LOD Risk regulatory examination process.
• Collaborate with stakeholders to confirm comprehensive and consistent practices are followed to allow for successful execution of exams.
• Ensure First Day Letter, inquires and requests are responded to in a timely manner by management.
MRA Remediation
• Ensure the Head of Business Risk is informed of regulatory matters.
• Confirm thorough action plans are created to mitigate risk identified with owners and due dates.
• Monitor remedial activity to ensure that issues and action plans are completed in a timely manner and meet the spirit and letter of regulatory expectations.
• Manage tracking and deliverable status of issues and action plans to ensure deadlines are met.
• Proactively work with management to prevent delays with remediation.
• Confirm 1LOD testing is performed to demonstrate enhancements are working as designed and expected.
Internal Audit Coordination
• Support the relationship with Internal Audit, manage the affiliate agreement and confirm services provided are satisfactory.
• Partner with Internal Audit to coordinate the Internal Audit process for two US Banks.
• Manage the development, implementation and execution strategy of the internal audit oversight process.
Want more jobs like this?
Get jobs in New York, NY delivered to your inbox every week.
• Collaborate with stakeholders to confirm comprehensive and consistent practices are followed to allow for successful execution of internal audits.
• Ensure audit requests and inquiries are responded to in a timely manner by management.
Governance
• Confirm adequate governance for regulatory and audit programs.
• Prepare corporate governance risk reporting.
• Ensure policies and procedures are comprehensive.
- Other duties as assigned
- Limited Travel
Qualifications
• 5+ years of professional experience in financial services with focus on regulatory compliance, regulatory relations at or interacting with U.S. financial regulators, or experience in audit or risk
• Bachelor's Degree
• Juris Doctorate a plus
Skills Required:
• Ability to work in a fast-paced, high-demand environment, both independently and as part of a team, under tight deadlines and with the ability to manage multiple priorities concurrently, efficiently and effectively.
• Attention to detail, strong analytical, quantitative, and investigative problem-solving abilities.
• Strong interpersonal, verbal, and written communication skills; capable of making presentations to an internal audience, and interacting positively with senior management, colleagues and clients.
• Strong project management and reporting skills.
• Proficient with Microsoft PowerPoint and Excel.
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Expected base pay rates for the role will be between $110,000 and $190,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Perks and Benefits
Health and Wellness
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- Fitness Subsidies
- On-Site Gym
- Pet Insurance
- Mental Health Benefits
- FSA
- Virtual Fitness Classes
- HSA
Parental Benefits
- Fertility Benefits
- Adoption Assistance Program
- Family Support Resources
- Return-to-Work Program
- Birth Parent or Maternity Leave
- Non-Birth Parent or Paternity Leave
- Adoption Leave
Work Flexibility
- Hybrid Work Opportunities
Office Life and Perks
- Commuter Benefits Program
- Company Outings
- On-Site Cafeteria
- Holiday Events
Vacation and Time Off
- Paid Vacation
- Paid Holidays
- Leave of Absence
- Volunteer Time Off
- Personal/Sick Days
Financial and Retirement
- 401(K) With Company Matching
- Stock Purchase Program
- Performance Bonus
- Relocation Assistance
- Financial Counseling
Professional Development
- Tuition Reimbursement
- Promote From Within
- Mentor Program
- Access to Online Courses
- Lunch and Learns
- Work Visa Sponsorship
- Leadership Training Program
- Associate or Rotational Training Program
- Internship Program
Diversity and Inclusion
- Diversity, Equity, and Inclusion Program
- Employee Resource Groups (ERG)