Assistant Vice President Wealth Management Financial Crimes Risk Officer - Morgan Stanley : Job Details

Morgan Stanley is a global financial services firm that conducts its business through three principal business segmentsInstitutional 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.

The WM Financial Crimes Risk Team is embedded within the Firm's business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The WM Financial Crimes Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.

The Financial Crimes Risk Officer AVP is responsible for assisting in the execution of the firm's first line Financial Crimes program for WM. The role will be responsible for assisting in the execution of the strategic direction of the Financial Crimes programs, performing oversight responsibilities and escalating potential gaps and risks. This position will work closely with the business, the second- and third-line stakeholders to ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations. The Financial Crimes risk officer AVP will:

• Support the implementation of the firm's Financial Crimes program, including Anti-Bribery & Corruption and Tax Evasion, requirements and controls, developing guidance and procedures for the first line
• Provide advisory, guidance and training to the first line, including reviewing and escalating risk appetite exceptions
• Ensure first line compliance with all relevant Financial Crimes regulations, standards, and policies
• Assist in the execution of Financial Crimes, Anti-Bribery & Corruption and Tax Evasion risks initiatives that arise for the first line in the WM businesses
• Assist in the identification of control enhancement opportunities and implementation of preventative detective controls and testing
• Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by second line
• Develop metrics and relevant trend analyses on Financial Crimes-related activities for the first line
• Identify, escalate and assist in the management of latent & emerging risk, execution of heightened risk and high-risk portfolio reviews.

Other key responsibilities include:

• Collaborate closely with critical internal stakeholders including business, Second Line, Technology and Internal Audit
• Assist in decision making over transactions and activities that may pose Financial Crimes risk to the first line
• Maintain the first line current on changes in Financial Crimes regulations and policies and support in update of the respective firm's programs for first line accordingly

Required experience:

• 5+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.)
• An undergraduate degree in Business, Finance, or other related fields
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Implementation and execution of Financial Crimes Programs requirements
• Knowledge of Financial Crimes, Anti-Bribery & Corruption and Tax Evasion laws and regulations and familiarity with best practice first line procedures and processes

Ability to:

• Analyze, summarize and communicate effectively
• Operate with confidence and comfort in high-paced and high-profile environments with minimum supervision
• Multitask effectively and execute actions promptly
• Identify issues, investigate root causes and escalate promptly
• Handle highly confidential information professionally and with appropriate discretion

Additional skills desired:

• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus
• Knowledge of Financial Crimes, Anti-Bribery & Corruption and Tax Evasion regulatory requirements and expectations
• Working knowledge of MS Office (Microsoft Excel/PowerPoint/Word/Access)
• Strong time management and planning skills
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing

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 $100,000 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).