Operational Risk - Control Testing, WM Risk, Director, Wealth Management

Morgan Stanley

  • Mumbai, Maharashtra
  • Permanent
  • Full-time
  • 8 days ago
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.MS Wealth Management (MSWM) Operational Risk:Morgan Stanley Wealth Management Operational Risk group is responsible for overseeing the operational risk and control framework within the Wealth Management business unit. This team partners with the Business Risk and Control groups throughout the organization to implement control processes and procedures, report operational losses and reporting, manage audits and exams with Compliance and Internal Audit, organize the annual Risk and Control Self-Assessment, and coordinate new operational risk programs in partnership with the business as well as Firm Operational Risk Management.This role will provide broad exposure to all functions and business lines within Wealth Management. The main responsibilities of this role will be to focus on mitigating risk and improving the control environment within Wealth Management. The responsibilities of the role are a combination of business-as-usual processes as well as discrete projects that are strategic in nature.Specific duties within the WM Operational risk team will include:
  • Work closely with Business Control groups and the incident reporting team to ensure all required reporting components are effectively captured (i.e. taxonomy, impact type, complete description details, root cause, etc.)
  • Ensure that risks identified as part of an incident review have been effectively evaluated and elated control and residual risk ratings within the RCSA have been assessed.
  • Supervise and review the preparation of workpapers, schedules, and summaries documenting testing of key & non key controls for WM Business.
  • Vet issues and observations with management and ensure appropriate documentation and escalation.
  • Verify remediation of control deficiencies based on control testing and perform level 1 review
  • Track and report key project milestones and metrics to onshore management.
  • Identify and implement enhancements.
  • Support ad-hoc Bank management initiatives in collaboration with second and third lines of defense
  • Promote a culture of inclusivity, high performance and continuous improvement.
  • Understand the root cause of incidents and confirm that steps to mitigate impact have been captured and tracked, appropriately
  • Assist with the evaluation of tactical and strategic remediation plans and create action plans as needed
  • Ensure staff receive appropriate training & development, assist in developing training plans & provide coaching where necessary
  • Contribute to the performance of Lessons Learned reviews of processes, risks and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively
  • Assist with regular incident metrics and analysis for Senior Management, which allows for visibility into incident volumes, distribution by WM divisions, and incident impacts. Identify and track thematic operational risk incidents
  • Assist with training events and presentations with regards to changes to procedures, tools, new processes, etc.
  • Execute on ad hoc projects by ensuring on time delivery and the proper level of quality
Required Qualifications:
  • 7+ years of Consulting, Risk management, Audit and control testing experience.
  • Strong familiarity with Wealth Management businesses and functions, as well as the financial services industry.
  • Solid written and verbal communication skills, with the ability to work with senior stakeholders.
  • Strong analytical skills. Must take a data and facts-based approach to problem solving.
  • Strong project management skills with the ability to multitask, prioritize, work under pressure, and meet tight deadlines.
  • Advanced knowledge of Microsoft Office suite, emphasis on Excel and PowerPoint.
  • Bachelor’s degree
Desired Qualifications:
  • Wealth Management Business awareness
  • Supervisory experience and used to working in a matrixed environment
  • Financial product familiarity (Equities, Bonds, Options, ETFs) would be a plus
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.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.

Morgan Stanley