US Banks, Business Risk Testing and Validation AVP

Morgan Stanley is a global financial services leader with three core businesses - Institutional Securities, Asset Management, and Global Wealth Management. Wealth Management is offered by Morgan Stanley Smith Barney (MSSB), which has one of the world’s largest networks of Financial Advisors. The Morgan Stanley U.S. Banks have expanded upon a suite of world-class banking and lending products exclusively for Financial Advisors and their clients. In addition to our comprehensive financial services, which include brokerage, investment advisory, financial and wealth planning, annuities, insurance and retirement, Morgan Stanley has invested in and enhanced its lending, mortgage, trust and cash management capabilities. 

The Morgan Stanley U.S. Banks continue to execute on a set of multi-year strategic priorities that are aligned with the broader Firm strategy. Within the Deposits and Cash Management team, there is continued emphasis on growth in the core product offerings. The recent integration of E*TRADE continues to provide an enormous opportunity for growth and expansion of Bank product offerings.

Summary

Responsible for supervising and executing the internal controls testing program within the first line Operational Risk Management team covering Morgan Stanley Private Bank, NA and Morgan Stanley Bank, NA, to include business and IT controls. This position will assist in oversight of the team responsible for the evaluation of the adequacy and effectiveness of Bank related internal controls, to include remediation of control deficiencies cited by internal or external examinations.

Responsibilities

• Execute design and operating effectiveness testing of operational controls identified by Bank management, which could include financial, technology, and/or compliance components

• Supervise and review the preparation of work papers, schedules, and summaries documenting testing and issues identified with a high level of quality

• Validate remediation of control deficiencies, Matters Requiring Attention (MRAs), etc.

• Proactively manage the control testing program to the project plan and communicate roadblocks or delays as appropriate

• Track and report key project milestones and metrics to senior management, Board and regulators as needed

• Participate in risk and control change management projects with management and provide recommendations for improvement

• Support ad-hoc Bank management initiatives in collaboration with second and third lines of defense

Requirements

• Bachelor's degree in Accounting, Finance, Economics, or related field is required

• 5-8 years relevant experience in relevant experience in public accounting, similar risk / testing function, minimum of two years in financial services

• Strong risk and control mindset with outside-the-box thinking

• Strong oral and written communication skills

• Ability to leverage and analyze data to inform focus and views on risk

• Strong analytical and problem-solving skills

• Ability to build and maintain professional relationships with key stakeholders/process owners

• Working knowledge of key US banking regulations

• Working knowledge of data, application, IT general and end user computing controls

Preferred Qualifications

• CPA, CIA or CISA designation preferred (or progress towards)

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 $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'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).