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, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
The Institutional Consulting Solutions (ICS) Business Control Unit (BCU) is a first line of defense risk function responsible for overseeing operational risks and controls for all business units in the ICS organization. The BCU team works with business stakeholders and other control partners including second and third lines of defense to continually monitor and assess risk. The BCU engages in risk analysis of process, control or business model changes and active updating of the businesses Risk and Control Self-Assessment (RCSA). Other functions core to the BCU team include but are not limited to, policies and procedure reviews, managing internal audit and compliance exams, incident and escalation reporting, lessons learned reviews, risk assessment of strategic and other business initiatives, business continuity plan support and data analytic deep dives.
The role requires someone who is flexible and able to respond to a dynamic business environment with a focus on mitigating risk and improving the control environment. The ideal candidate should have risk and control related experience, as well as good strategic thinking and communication skills to support effective monitoring of existing and emerging risks and ultimately effect change in the business’ risk management practices.
Primary Responsibilities include but are not limited to:
- In partnership with business and other control partners analyze risks and provide guidance to drive sound risk decisions and control implementation
- Identify and assess potential gaps in the risk framework and provide recommendations on control enhancements
- Manage internal exams which includes coordination across all three lines of defense throughout lifecycle;
o Guide business partners in identifying, understanding and self-disclosing risks and defining subsequent action plans for remediation
o Coordinate Document Request Lists and ensure timely delivery of requests
o Schedule/Coordinate walkthroughs with various stakeholders
o Review audit reports and findings for accuracy
o In coordination with the business developing appropriate Action Plans
o Track issues and action plans for remediation and ensure timely completion
- Manage operational risk incidents, remediate as necessary, and complete root cause analysis as required
- Support review of the annual Risk and Control Self-Assessment (RCSA) and develop new risks and related controls as needed
- Support required reviews and updates of Policies and Procedures (P&Ps)
- Update Business Continuity Plans (BCP) and Business Impact Assessments
- Report risk metrics, identify and remediate trends
- Participate in relevant workgroups and provide risk support and assessment on new business initiatives, changes in business model or processes and controls.
To be successful in this role, the candidate will need to:
- Be a self-starter that can quickly develop comprehensive knowledge of all aspects of the Morgan Stanley Institutional Consulting business as well connectivity to other parts of the organization
Manage multiple deliverables which can sometimes be ad-hoc and unanticipated requests, so a successful candidate must be able to work in an environment with evolving priorities, making sound decisions about prioritization, and communicating immediately where there are real risks to on-time delivery
Effectively communicate and collaborate and build effective working relationships with all levels of employees across the organization
Qualifications:
- At least 3-5 years of experience within Financial Services, in a Risk Management, Audit or Compliance role preferred. Knowledge related to Wealth Management a plus.
- Bachelor’s Degree required
- Proven ability to manage delivery/execution of a wide range of tasks and initiatives
- Project management skills and the ability to effectively prioritize many competing assignments
- Strong analytical and problem-solving skills (critical thinking ability)
- Strong organization skills with the ability to multitask and prioritize; ability to work under pressure and to tight deadlines
- Excellent written and verbal communication skills and ability to interact at all levels of the organization and tailor messages appropriately. Comfortable interfacing with senior personnel on highly sensitive issues
- Proven ability to work across departments to influence others and build strong relationships
- Attention to detail, high level of initiative and resourcefulness and ability to problem solve, demonstrate good business judgment and integrity
- Proficiency in MS Office applications (e.g., Word, Excel, PowerPoint, Project)
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).
Expected base pay rates for the role will be between $110,000 and $185,000 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.
