Business Risk and Internal Controls, AVP

Morgan Stanley Wealth Management provides access to a wide range of wealth management products and services for individuals, businesses and institutions to deliver services and solutions that help build, preserve and manage wealth. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust.

Business Risk Management

The Investment Solutions Business Risk Management team is responsible for implementing the product risk and control framework supporting Traditional Investment Products, Insured Solutions, Alternative Investments, Private Markets and National Sales. This requires close coordination with support partners such as the Product teams, Operations, Technology, Compliance and Legal to identify and assess operational risks and implement controls and processes.

Position Summary

Business Risk Management is seeking a candidate for Risk Management and Internal Controls. This position is responsible for partnering with the business units to ensure continued adherence to the risk and control framework and provide ongoing risk management support.

Primary responsibilities include:

Supporting BCU Officer(s)in the following areas:

• ·        RCSA Coordination – Assist in coordination with risk owners in the business to continue to enhance the risk and control self-assessment to ensure that risks and controls are documented around current supervisory processes and test the supervisory process to ensure coverage is adequate.
• ·        Examination Management– Assist in coordination with internal/external auditors, compliance and central RCSA testing teams to ensure that the business is adequately prepared for all reviews. Track the status of open risks identified by internal/external audit, compliance and central RCSA testing teams and work with each action owners to identify the best resolution to remediate controls or mitigate risk.
• ·        Risk Incident Monitoring – Assist in analyzing incidents and determine firm, advisor and/or client impact. Conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function/process/control and ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (ReCap).
• ·        Risk Identification – Assist in planning and performing internal reviews of procedures and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively in preparation for all audits, compliance exams, and regulatory inquiries. 
• ·        Risk Mitigation – Proactively engage appropriate stakeholders and partners to lead the implementation of enhanced processes and controls build-out for any identified control gaps or opportunities for enhancement.
• ·        Management Reporting – Develop reporting and effectively and timely communicate risk management issues and internal control deficiencies to BRM Management with properly vetted and proposed solutions.
• ·        IT Project and Risk Management – Manage certain aspects of the pipeline of IT projects for certification through partnering with management and various PMO groups and ensure that IT projects are appropriately assessed for risk ratings. Engage the Business Unit Information Security Officer (BUISO) team when information security risks are identified.
• ·        Vendor Management, EUC, User Entitlements – Participate in review and monitoring of these areas to ensure compliance and timely response to inquiries and/or testing.

Skills and requirements:

• ·        At least 3 years of relevant risk experience.
• ·        Undergraduate degree in business, finance, accounting or other related fields
• ·        Audit and RCSA experience preferred
• ·        Business Process and Operational control environment experience preferred
• ·        Strong understanding of Compliance and Audit practices
• ·        Knowledge of IT Security controls
• ·        Demonstrate an understanding of the financial services industry, Investment Solutions products specifically alternative investments (private equity, hedge funds, exchange funds etc) and insurance products (annuities, insurance including property and insurance experience a plus
• ·        Ability to take initiative, analyze, summarize, and communicate effectively orally and in writing
• ·        Strong interpersonal skills – ability to work with various professionals and levels of management across departments
• ·        Excellent organizational skills, ability to manage multiple tasks and meet assigned deadlines
• ·        Ability to work independently and within teams, promote teamwork and demonstrate sound reasoning and judgment.
• ·        Strong working knowledge of MS Office (Microsoft Word, Excel (including pivot tables, VLookups, etc.) and PowerPoint))

Expected base pay rates for the role will be between $85,000 and $135,000 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).

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