First Line of Defense - Business Control Unit Associate

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $5 trillion. WM 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.

Morgan Stanley Private Bank, National Association (“MSPBNA”) provides cash management and lending products and services to serve the needs of WM clients. The MSPBNA Lending Business Control Unit (BCU) is responsible for supporting a centralized first-line risk management framework across the PBNA Lending businesses, including Securities Based Lending (SBL), Tailored Lending, Private Share Lending, Morgan Stanley Home Loans, and International Lending. The team drives cross-product risk governance, regulatory initiatives, and operational risk management activities designed to promote consistent execution of the U.S. Banks Risk Governance Framework across the Lending businesses. The US Banks seeks an Associate to join the BCU. The candidate will support the execution of consolidated risk and governance initiatives across the lending products including enterprise and regulatory initiatives, risk governance programs, issue management, procedures governance, risk assessments, reporting, and other first-line risk management activities.   

The BCU Associate will report to the MSPBNA Lending Business Control Unit, Executive Director, and will be based in Purchase or New York City.

The Business Control Unit Associate will:

Reporting and Administrative Responsibilities

• Support  the development, maintenance and continued enhancement of consolidated reporting for management, committees, and governance forums, including ad hoc reporting as needed
• Prepare consolidated reporting on Issues, Incidents, metrics, and risk management activities for the SBL business or across the Lending businesses.
• Support in the development, review, and maintenance of procedures for SBL or across Lending businesses
• Prepare PowerPoint presentations and other materials for ad hoc status reporting and for monthly risk meetings
• Produce Excel reporting, perform data analysis, and support ongoing monitoring activities.
• Manage recurring Lending BCU team meetings, driving content, awareness and key deliverables across the teams

Risk Oversight Responsibilities

• Perform tasks associated with Non-Financial Risk Assessment (“NFRA”), including the maintenance of a Risks and Controls inventory for SBL or across the Lending business, including:

• Ongoing assessment for consistency of risk and control profiles across the Lending business units
• Documenting risks, impacts and mitigating controls within the Bank’s Risk Management systems for Lending Business processes
• Supporting business partners in the execution of the NFRA
• Support in responding to requests and remediation of findings/observations related to control testing
• Oversight of Lending BCU owned controls and maintenance of documentation evidence

Support and assist the Lending BCU teams and management for the following:

• Identification and execution of risk management standards and best practices
• Issue and incident identification, documentation, and closure for assurance of effective remediation related to control breaks.  Includes tracking progress and status reporting
• Support operational risk management activities across the Lending businesses, including risk identification, assessment, monitoring, reporting, and review of business risk assessments in partnership with BCU teams and risk owners.
• Business Continuity Management activities for SBL or across the Lending businesses
• Support governance and oversight activities related to centralized quality review processes
• Creation, maintenance, and monthly reporting of metrics, including analysis and escalation of metrics performance against thresholds and development of new metrics to monitor key risk and performance indicators
• Support coordination of internal audits, regulatory examinations, and related remediation activities
• Support New product and business change initiatives through identification of risks and controls
• Support various tasks associated with ensuring the Lending businesses comply with laws, rules and regulations
  

Cross-Product Risk & Governance Responsibilities

• Support cross-product risk and governance initiatives across the PBNA Lending businesses, including Tailored Lending, Securities Based Lending, Morgan Stanley Home Loans, Private Share Lending, and International Lending.
• Create and maintain business process flows and related process documentation to support cross-product risk management, governance, and strategic initiatives.
• Support initiatives designed to promote consistent risk management practices, governance standards, and control execution across the Lending businesses.
• Assist with centralized governance, reporting, and implementation of key requirements established under the U.S. Banks Risk Governance Framework.

Preferred Experience:

• 2-5 of professional experience in financial services industry; preferably in product management, process management, operational risk management or internal audit. Experience with lending a plus.
• Experience in Risk Management or Business Process Management or a related discipline.
• Ability to learn and execute NFR-A, or similar operational risk management framework
• Experience in creating process flows, evaluating processes to identify risks, designing and evaluating mitigating controls
• College degree required

Skills:

• Strong organizational and project management skills with the ability to manage multiple deliverables in a fast-paced environment while maintaining strong attention to detail.
• Strong analytical and problem-solving skills with the ability to synthesize information, identify trends, and support risk-based decision making.
• Excellent written and verbal communication skills, including the ability to clearly articulate key messages and prepare materials for management and governance forums
• Strong PowerPoint and presentation development skills, including the ability to create executive-ready reporting and governance materials.

• Proficient with Microsoft Office products.
• Ability to learn Governance, Risk and Controls (GRC) systems
• Ability to work independently and as part of a team under tight deadlines
• Ability to work in a matrixed organization, leveraging resources across the organization to complete deliverables

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 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.

Expected base pay rates for the role will be between $58,000 and $115,000 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 is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.  Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.