Vice President U.S. Banks First Line Business Risk Regulatory & Audit Oversight

Morgan Stanley (MS) is a global financial services firm that conducts its business

through three principal business segments: Institutional Securities Group (ISG), Global Wealth Management via Wealth Management (WM), and Asset Management.

The U.S. Banks - Morgan Stanley Private Bank, National Association (MSPBNA) and Morgan Stanley Bank, N.A. (MSBNA) (together, the Banks) - provide cash management and lending products and services in support of WM & ISG clients and seek a Vice President as part of the U.S. Banks First Line of Defense (1LOD) Business Risk team.

This individual will be responsible for supporting the Regulatory and Audit Oversight Group and be based in New York, NY or Baltimore, MD. The advertised pay is for the primary location of New York only, if candiate sits in Baltimore pay will vary.

Regulatory Exam Support

• Provide support & guidance to management to prepare them for regulatory examinations
• Partner with Regulatory Relations and management to coordinate the exam process for the Banks, complementing the Regulatory Relations program without duplication
• Collaborate with stakeholders to confirm comprehensive and consistent practices are followed to allow for successful execution of exams
• Ensure First Day Letter and follow up requests are responded to in a complete and timely manner by management
• Prepare and deliver weekly and monthly reporting to bank management regarding support and preparation for and progress during exams
  
  

Regulatory Remediation

• Provide support & guidance to management to execute against remediation of findings
• Confirm that comprehensive issues and action plans are created to mitigate risk identified with owners and that due dates are achievable
• Monitor and challenge remediation activity to confirm that action plans are timely completed, mitigate the risk, and meet the spirit and letter of regulatory expectations
• Work with 1LOD management to address issues raised from 2LOD/3LOD review and/or challenge of remediation
• Maintain workpapers (documentary evidence) to support review of remediation activities
  
  

Internal Audit Oversight

• Collaborate with stakeholders to confirm comprehensive and consistent practices are followed to allow for successful execution of internal audits
• Collaborate with management to confirm Bank engagement with Firm audits identified as having a Bank impact
• Facilitate management reporting and escalation of notable Bank-impacting issues
• Support escalation of challenges by IAD or 1LOD management regarding audit engagements
  
  

Experience

• 10+ years of professional experience in financial services with focus on audit or regulatory risk & compliance; 15+ years preferred
• Experience with regulatory finding remediation and issue management
• Experience at or interacting with a U.S. Prudential Regulator a plus
  
  

Required

• Bachelor’s Degree
• Risk Certifications a plus
• For Regulatory Exam Support: Juris Doctorate a plus
• For Audit Oversight & Regulatory Remediation Roles: Certified Internal Auditor (CIA) certification a plus
  
  

Skills Required

• Self-starter with ability to work in a fast-paced, high-demand environment, both independently and as part of a team, under tight deadlines
• Ability to manage multiple priorities concurrently, efficiently, and effectively
• Critical attention to detail is a must given interaction with Bank senior leadership
• Strong analytical, quantitative, and investigative problem-solving abilities
• Strong verbal and written communication skills; capable of delivering presentations
• Ability to build relationships and interact positively with senior management and colleagues
• Strong project/program management and reporting skills
• Proficient with Microsoft PowerPoint and Excel
  
  

Expected base pay rates for the role will be between $120,000 and $180,000 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.

• Expanded legislation requires that roles that sit in other state locations, but report to a manager in NY, must have the above language included in postings with the pay scale reflective appropriately to the location where the role will be sitting.
  
  

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)

Posting Date

Jun 27, 2024

Primary Location

Americas-United States of America-New York-New York

Other Locations

Americas-United States of America-Maryland-Baltimore

Education Level

Bachelor's Degree

Job

Operational Risk

Employment Type

Full Time

Job Level

Vice President