Morgan Stanley Private Bank, NA (MSPBNA) Financial Crimes Risk Office (Wealth Management)- Vice President

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley 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. 

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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow.

Department Profile: 

The Morgan Stanley Private Bank, NA Financial Crimes Risk Office (MSPBNA FCRO) Team is embedded within the Firm’s Wealth Management, US Banks, and Investment Management Financial Crimes Risk (FCR) organization. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk for MSPBNA, including new, existing, and prospective customers.

The MSPBNA FCRO Team is considered the financial crimes risk advisory team within the first line of defense, and provides overall advice and support to first line of defense teams, including Enhanced Due Diligence (EDD), Customer Due Diligence (CDD), Negative News Screening (NNS), Customer Activity Review (CAR) teams. In addition, The MSPBNA FCRO Team works closely with partners and stakeholders in Business Unit, Operations, Technology, and Global Financial Crimes teams that provide support to MSPBNA.

Responsibilities:

The MSPBNA FCRO Vice President (VP) is part of the MSPBNA FCRO Team, and is responsible for reviewing and assessing financial crimes-risk relevant activities related to MSPBNA. The MSPBNA FCRO VP will assess Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Know Your Customer (KYC), and reputational risk matters identified through the execution and management of the Firm’s Financial Crimes Risk protocols for new, existing, and prospective MSPBNA customers. This includes managing programs and processes to examine potential Financial Crimes Risk exposure of MSPBNA and the overall Firm. In addition, the MSPBNA FCRO VP will be responsible for review and escalation of issues and risks related to these programs and processes.

The MSPBNA FCRO Vice President will:

• Implement and manage the 1L Financial Crimes Risk program requirements and controls
• Provide subject matter expertise, guidance, and training to 1L Financial Crimes Risk staff who perform AML, KYC, and EDD reviews for MSPBNA customers
• Manage and assess the financial crimes risks associated with all MSPBNA customers (including all risk rating levels) and the overall MSPBNA business
• Provide day-to-day support including financial crimes risk advice to New Client Onboarding and Periodic Review teams
• Perform financial crimes risk review of MSPBNA products and services, including New Product Approval Process
• Perform financial crimes risk review of MSPBNA customers identified and escalated as part of the WM and ISG Consequence Framework review processes
• Assist in review and escalation of MSPBNA customers escalated via the Negative News and Reputational Risk Escalation Process
• Actively manage and assist in strategic initiatives to promote process standardization, efficiency improvements, and financial crimes risk reduction
• Providing financial crimes risk management and advisory services in support of the maintenance and growth of the MSPBNA business
• Assist and lead key projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities
• Assist pipeline management and overall engagement with Business Unit, Operations, Technology, and Second Line of Defense Global Financial Crimes partners and stakeholders to onboard new, existing, and prospective MSPBNA customer relationships
• Actively identify, measure, control and remediate money laundering and reputational risk issues with partners and stakeholders in Business Unit, Operations, Technology, and Second Line of Defense Global Financial Crimes
• Partner with the Second Line of Defense Global Financial Crimes Compliance teams to monitor client relationships on an ongoing basis and ensure compliance with regulatory expectations

Qualifications – External

Required Experience:

• Have 8+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
• Bachelor's degree in Business, Finance, or other, related field
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Strong knowledge of Know Your Customer (KYC), Customer Identification Program (CIP), and Customer Due Diligence (CDD) requirements
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Ability to evidence a strong work ethic and maintain a high degree of integrity

Ability to:

• take initiative, analyze, summarize, and communicate effectively
• investigate, identify issues, impacts and trends to propose comprehensive solutions
• work independently and in a team environment
• handle highly confidential information with appropriate discretion
• work in a matrixed organization, leveraging resources across the organization to complete deliverables

Additional Skills Desired:

• Working knowledge of Microsoft Office (MS Excel, MS PowerPoint, MS Word)
• Experience with data analysis related to the management of a financial crimes risk program
• Expertise in managing programs focused on ensuring quality within AML programs
• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus

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.

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Expected base pay rates for the role will be between $140,000 and $205,000 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).