Operational Risk & Control Lead

About Us:

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.  

 
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 integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture. 

Business Overview:

Operational Risk and Control unit functions as a trusted partner to the Wealth Management business and control partners (Legal, Second Line Risk, Compliance, HR, Finance, Platforms, Operations) to help develop and execute on the strategic priorities of WM Risk as well as the business while ensuring ongoing operational efficiency and risk mitigation.

Background on the Position:

The role will reside within the Wealth Management – Operational Risk & Control function in Mumbai, responsible for the management of the non-financial risk, Issue reporting and control testing. We seek a Vice President (“VP”) to join the First Line of Defense Bank Validation team in Mumbai responsible for supervising and executing the internal controls testing program covering Morgan Stanley Bank, NA. This position will assist in oversight of the team responsible for the evaluation of the adequacy and effectiveness of Bank specific internal controls, to include remediation of control deficiencies.  

Key Responsibilities include:

• Manage a team of 10 FTEs   responsible for executing Control testing, RCSA, issue identification in capacity of 1st line of defense, Bank validation activities.  
• Manage team’s personal development, oversee production, oversee deliverables are on time and at high level of quality, and provide timely feedback.
• Manage escalations, and show a strong inclination towards problem solving and innovation.
• Contribute to production and recognize proper delegation, setting of department goals, work on efficiency projects to increase production and create efficient workflows and processes.
• Participate in annual validation scoping exercise and present final scope and test plan to senior management.
• Supervise and review the preparation of workpapers, schedules, and summaries documenting testing of key controls identified by Bank management.
• Vet issues and observations with management and ensure appropriate documentation and escalation.
• Verify remediation of control deficiencies in line with Bank and Program guidance.
• Track and report key project milestones and metrics to onshore management.
• Identify and implement enhancements to the Bank Validation Program as function matures.
• Support ad-hoc Bank management initiatives in collaboration with second and third lines of defense.
• Ensure staff receive appropriate training & development, assist in developing training plans & provide coaching where necessary.
• Promote a culture of inclusivity, high performance and continuous improvement.  

Experience Required:

• 11 to 12 years of experience in public accounting, internal audit or similar risk / testing function, minimum of five years in financial services Extensive experience in managing, leading and developing a large team in a global organization.
• Project Management experience to handle critical automation project and initiatives for process enhancements.
• Pro-active and possess strong problem-solving mindset.
• Detail oriented, with exceptional risk management and analytical skills.
• Experience at a global organization handling multiple priorities and different time zones.
• Possess excellent oral and written communication skills.
• Good collaboration skills in a team-oriented environment.

Skills Required:

• CA / CPA designation strongly preferred.
• Bachelor’s degree in accounting, Finance, Economics, or related field is required.
• Proficient with Microsoft Office products and reporting tools.
• Highly motivated and comfortable in a fast-paced and evolving environment which includes ongoing learning and training opportunities.
• Must be an excellent communicator (both oral and written communication) with outstanding listening skills.

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.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.