Assistant Vice President – Financial Crimes Risk Officer
Job Number: 3258092
POSTING DATE: Aug 27, 2024
PRIMARY LOCATION: Americas-United States of America-Florida-Miami
EDUCATION LEVEL: Bachelor's Degree
JOB: Wealth Management
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Assistant Vice President
DESCRIPTION
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 WM Financial Crimes Risk Team is embedded within the Firm's business line. It is responsible for identifying, assessing, and escalating potential money laundering, economic sanctions, tax-evasion, bribery, corruption, and reputational risk issues associated with higher risk client types. The WM Financial Crimes Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, negative news processes, among others, for Morgan Stanley.
Responsibilities:
- Ensure first line compliance with all relevant Financial Crimes policies, standards, procedures and applicable laws and regulations.
- Support the implementation of the firm's Financial Crimes program requirements and controls, developing guidance and procedures for the first line.
- Aid in the identification of Financial Crimes risks, and the review, identification of enhancements and execution of control testing as part of the Risk and Control Self-Assessment (RCSA) of WM.
- Assist in the execution of Financial Crimes risks initiatives that arise for the first line in the WM businesses.
- Aid in the identification of control enhancement opportunities and implementation of preventative detective controls and testing.
- Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by the second line.
- Identify, escalate, and assist in the management of latent & emerging risk, execution of heightened risk and high-risk portfolio reviews.
- Develop metrics and relevant trend analyses on Financial Crimes-related activities for the first line.
- Provide advisory, guidance and training to the first line, including reviewing and escalating risk appetite exceptions.
- Collaborate closely with critical internal stakeholders including business, Second Line, Technology, and Internal Audit.
- Assist in decision making over transactions and activities that may pose Financial Crimes risk to the first line.
QUALIFICATIONS
Required Experience:
- 5+ 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.).
- Have an undergraduate degree in Business, Finance, or other related fields.
- Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
- Implementation and execution of Financial Crimes Programs requirements.
- Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes.
Ability to:
- Analyze, summarize, and communicate effectively.
- Operate with confidence and comfort in high-paced and high-profile environments with minimum supervision.
- Multitask effectively and execute actions promptly.
- Identify issues, investigate root causes, and escalate promptly.
- Handle highly confidential information professionally and with appropriate discretion.
Additional Skills Desired:
- Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.
- Certified Sanctions Specialist is a plus.
- Knowledge of Financial Crimes regulatory requirements and expectations.
- Working knowledge of MS Office (Microsoft Excel/PowerPoint/Word/Access).
- Strong time management and planning skills.
- Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
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).
