Legal and Compliance Division Overview
The professionals in the Legal and Compliance Division LCD provide a wide range of services to our business units. LCD is made up of the Legal, Regulatory Relations, and Non-Financial Risk departments which preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that are designed to meet regulatory requirements around the world. We also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm's businesses.
Background on the Position
The role will reside within Legal and Compliance's Non-Financial Risk Department focusing on the Firm's Institutional Securities Group and the respective functions supporting the businesses.
Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing).
The individual will play a critical strategic role in driving risk management activities, which may include work on strategic growth readiness assessments, new product approval, risk scenario analysis, risk metrics development and oversight, deep dives, and analyses. They will also support adoption of these risk management activities within the Non-Financial Risk framework, standards, and methodology.
Primary Responsibilities
- Manage a NY based team of ISG coverage personnel to deliver Operational Risk oversight of the ISG businesses.
- Work collaboratively in a high performing multi discipline global team across Non-Financial Risk.
- Partner with the relevant business units and support functions to develop a perspective on operational risk and ensure consideration of evolving regulatory expectations.
- Lead risk assessments performing critical analysis as necessary, monitor data used to identify heightened risk and help develop risk remediation recommendations.
- Perform deep dives into material operational risk events (internal and external) and analyses of thematic operational risks.
- Lead Scenario Analyses activities where significant and emerging risks are assessed.
- Lead the review and approval of new products and new activities originating from the front office.
- Assist the division in highlighting their key operational risks and management of risk levels against designated risk tolerance levels.
- Develop analytical capabilities to support the operational risk assessment process for business areas, risk types, regions, and legal entities.
- Contribute to the development of presentations for executive management and senior risk managers, including reporting to boards and committees.
- Build solid relationships in the front office, operational, risk management, and other support functions related to the area of coverage.
- Develop strong networks across the Firm to enable effective management of operational risk.
Required Experience
- An undergraduate degree (B.A., B.S., or equivalent) required
- 10 or more years of relevant Financial Services risk management experience; exposure to sourcing / procurement, supply chain risk management preferable
- Comparable experience in supply chain risk management within non-Financial Services will also be considered, for example aviation, automotive, e-commerce, government, manufacturing
- Confidence to take ideas forward and to challenge others, where appropriate.
- Proven ability to anticipate and identify risks and identify effective mitigation.
- Solid understanding of third party related regulations and industry frameworks, especially relating to operational risk management.
- Strong team skills with ability to support talent development, build team cohesiveness and coordinate multiple team activities across a range of operational risk processes and product areas
- Strong organizational skills with the ability to multitask and prioritize; ability to work under pressure and to tight deadlines
- Excellent communication skills, both verbal and written; ability to produce concise and effective presentations
Preferred Experience
- Familiarity with relevant Banking, Financial Holding Company and securities regulations
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.
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).
Expected base pay rates for the role will be between $160,000.00 and $250,000.00 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).