Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $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.
Morgan Stanley Private Bank, National Association (“MSPBNA”) provides cash management and lending products and services to serve the needs of WM clients. The US Banks seeks a Vice President to join the First Line of Defense (1LOD) MSPBNA Lending Business Control Unit (BCU) within the Tailored Lending business line. The candidate will support the operational risk program for the Tailored lending products, and support cross-product initiatives across Tailored Lending, Securities Based Lending, Private Share Lending and Residential Mortgage, as needed.
The BCU Vice President will report to the MSPBNA Tailored Lending BCU lead Vice President and will be based in Purchase New York.
Location: Purchase, NY
Department: Lending Business Control Unit (BCU)
Reports To: Vice President, Tailored Lending Business Control Unit
The Vice President in the PBNA Lending Business Control Unit (BCU) serves as a key member of an embedded risk team within the Lending Businesses. This role is responsible for identifying, measuring, monitoring, controlling, and reporting operational risks, while enabling consistent execution of risk management practices across the Banks. The VP will work closely with business owners to ensure accountability for risks created within their respective lines.
Key Responsibilities :
Lead and support execution across various Operational Risk frameworks in accordance with Firm and US Bank requirements.
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Manage and oversee:
- Issue and incident management
- New product approval and change management
- Risk and Control Self-Assessment (RCSA)
- Risk assessments and metrics
- Exam and audit support
- Control validation
Collaborate with cross-functional teams to ensure alignment with enterprise risk standards.
Build product expertise in Tailored Lending.
Serve as a liaison between the Lending BCU and individual product teams (i.e. Private Share Lending, Securities Based Lending and Residential Mortgages)
Represent the BCU team in Lending cross-product risk initiatives, ensuring alignment with firm-wide programs.
Perform and oversee tasks related to Risk Control Self Assessments (RCSA), including evaluating risks, impacts, and mitigating controls, engaging with business partners, and documenting results.
Identify risk prevention opportunities within business processes and partner with BU to manage operational risks.
Collaborate with Risk partners (Legal, Compliance, Central Business Risk, 2nd Line Risk Groups) to resolve issues and obtain guidance.
Manage issue and incident identification, reporting, tracking, documentation, and closure for effective remediation.
Advise on the creation and maintenance of process flows for lending business processes.
Participate in Business Continuity management for lending businesses.
Oversee the creation and maintenance of operational risk metrics, including analysis and development of new metrics.
Execute business risk assessments by partnering with risk owners and manage a centrally documented model for quality review processes.
Contribute to the development and refinement of risk governance procedures.
Produce, review, and manage procedure documents.
Partner on new product development activities to identify risks and controls.
Produce management reporting materials and prepare for monthly risk meetings.
Perform data analysis and produce Excel reporting as needed.
Maintain dual reporting structures to reinforce business accountability for risk.
Experience and Knowledge :
7+ years in Risk Management and Lending Product Management.
Proven experience in operational risk management within financial services.
Proven experience in lending products and product management.
Strong understanding of regulatory frameworks and risk governance.
Experience with risk assessments and exams (Regulator, Internal Audit, Operational Risk, and Compliance).
Understanding of RCSA or similar operational risk management frameworks.
Ability to evaluate processes, identify risks, and design mitigating controls.
Experience working with cross-functional teams.
College degree required.
Skills:
Strong relationship-building with both business users and risk partners.
Ability to work in a matrixed environment with dual reporting lines.
Clear and concise communication, both written and verbal.
Ability to create executive summaries and risk assessments.
Influencing decision-making and improving risk management behaviors.
Attention to detail and problem-solving abilities.
Proven track record of working across organizational boundaries.
Proficient in creating PowerPoint presentations and Excel data analysis.
Proficient in creating Business Process Flows.
Confident, proactive, and independent self-starter.
Strong organizational skills and ability to prioritize tasks.
Strong Project Management and execution skills.
Familiarity with SharePoint, Microsoft Windows, and Microsoft Office software.
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-officesinto 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).
