Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, 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.
Morgan Stanley Private Bank, National Association (“Bank” or “MSPBNA”) provides deposit and lending products and services to serve the needs of Wealth Management clients and seeks a Field Operational Risk Officer as part of the Bank’s First Line Operational Risk Organization. The Field Operational Risk Officer will perform offsite risk monitoring, and onsite education and training of the operational and compliance risks related to the banking and lending activities of Private Bankers and Financial Advisors within the Field Operational Risk Officers’ dedicated region. The Field Operational Risk Officer will report to the Bank’s Head of Field Risk and will be based in the Purchase (NY) location.
The Field Operational Risk Officer will be expected to:
Serve as the Bank’s in-field primary resource concerning operational risks related to cash management and lending products and services
Educate, advise and provide guidance to the field on questions and issues pertaining to products and services offered by the Bank
Partner with, and leverage firm-wide monitoring groups and tools to oversee cash management and lending activities conducted by employees of the Bank in WM branches, to help ensure compliance with all applicable regulatory rules and all Firm and Bank policies and procedures
Conduct daily and periodic monitoring activities and maintain accurate metrics and reporting for U.S. Banks Senior Management
Contribute to the preparation of senior management presentation materials
Create/Maintain/Own applicable field risk policies, procedures, and control libraries pertaining to the U.S. Banks field risk program
Track and monitor risk indicators and conduct timely escalation of emerging issues to senior management
Prepare and summarize results of offsite monitoring
Assist with ad-hoc and annual risk, vetting requests from various partners across Morgan Stanley
Work collectively with Field and Bank management to identify, monitor, control and address operational risk-related issues
Partner with and leverage the Firm and Bank’s Operational Risk Team frameworks and programs
Contribute to the preparation of senior management presentation materials
Travel Expected: 0-15%
The Field Operational Risk Manger should have:
Bachelor’s Degree or higher
5+ years of experience in operational risk management, business management, legal/compliance, banking and lending product risk advisory, or internal audit
Strong understanding of operational risk within the Financial Services industry (e.g. Private Banking, Retail Banking, Investment Banking and/or Wealth Management)
Broad knowledge of lending and deposit product risks including risks related to institutional and retail lending products (including residential home loans, securities based loans, commercial real estate lending, fixed income secure lending and equity financing) and deposit and cash management products and services (including ACH, wires, Deposit Accounts, CDs/Structured CDs and credit/debit cards)
Skills/Abilities:
Ability to manage multiple tasks concurrently in an efficient and effective manner
Strong organizational project management and reporting skills
Effective written and verbal communication skills
Ability to work both independently and with team members under tight deadlines
Ability to execute in a fast paced, high demand environment while balancing multiple priorities
Ability to manage initiatives involving process improvements
Ability to build effective business partnerships across the Bank and Firm
Ability to own an oversight framework element and proactively enhance that framework when needed
Proficiency in Microsoft Office applications including Excel, PowerPoint, Tableau, SharePoint
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 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 $85,000 and $140,000 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 is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.
Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.
For more information, please visithttps://www.morganstanley.com/people-opportunities/eeo
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, our firm's employees serve clients worldwide including corporations, governments, institutions and individuals.
We are committed to maintaining the first-class service and high standard of excellence that have always defined the firm and everything we do is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back.
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