U.S. Banks 1LOD Business Risk Regulatory Oversight

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 U.S. Banks - Morgan Stanley Private Bank, National Association (MSPBNA) and Morgan Stanley Bank, N.A. (MSBNA) (together, the Banks) are seeking an Assistant Vice President (AVP) as part of the U.S. Banks First Line of Defense (1LOD) Business Risk Regulatory Oversight team.

Primary Responsibilities:

The Regulatory Oversight AVP will be responsible for supporting the 1LOD Regulatory Oversight Group and reporting to the Regulatory Oversight Team Lead (VP). The AVP will support colleagues with day-to-day regulatory exam and remediation deliverables for the Banks to ensure timely completion. 

This position is based in TBD. Limited travel in the tri-state area may be required.

(1) Regulatory Engagements: The Regulatory Oversight AVP will provide regulatory exam support and guidance to management in preparation for regulatory examinations, reviews, and continuous monitoring activities.

In addition, the AVP will:

• 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

• Help coordinate ad hoc regulatory requests, as needed

• Support special projects and initiatives, as assigned

(2) Regulatory Remediation: The Regulatory Oversight AVP will provide remediation support and guidance to management. In addition, the AVP will:

• Confirm that comprehensive issues and action plans are created to mitigate risk identified with owners and that due dates are achievable

• Monitor and support, as needed, 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

• May support management in reviewing remediation deliverables and workpapers in support of remediation activities

• Support special projects and initiatives, as assigned

Experience:

• 5 - 8 years of related experience in the financial services industry

• Experience in risk management (identifying, measuring, monitoring, and controlling risks)

• Experience with risk oversight & governance including risk management systems

• Experience with regulatory finding remediation and issue management

• Experience interacting with a U.S. Prudential Regulator / managing regulatory requests a plus

• Bachelor’s Degree in a related field. Advanced Degree a plus

• Risk Certifications a plus

Skills Required:

• Self-starter who can thrive in a fast-paced environment, both independently and as part of a team

• Ability to communicate risk management best practices and regulatory expectations, both verbally and in written communication

• Strong risk and control mindset

• Ability to handle confidential information with appropriate discretion

• Proficient with Microsoft Office

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.

Expected base pay rates for the role will be between $85,000 and $135,000 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'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).