Fraud Risk Director - NFR - Director

Company Profile

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.

Morgan Stanley is seeking a dynamic and high performing Director to play a critical role within the Operational Risk Department to support the Firm in oversight and challenge of risk associated with External Theft and Fraud. This role sits within the Second Line of Defense (2

LoD) and focuses on independent risk governance, framework execution, and effective challenge of First Line of Defense (1

LoD) programs. The successful candidate will be responsible for helping to execute independent oversight, analysis, and monitoring risks and controls around the Firm’s External Theft and Fraud Program. This includes execution of the Operational Risk Department (ORD) framework and related non financial risk programs (e.g., NFRAC, Issues & Remediation, REcap, Scenario Analysis, risk metrics).

In addition to risk-based oversight and challenge, the individual will play a role in supporting the mitigation of risk. The role emphasizes governance, transparency, and sustainability of the External Fraud Risk framework rather than day to day incident handling. There is a need to drive evolution and transparency of the underlying control framework, support adoption of industry leading practices and technologies, and introduce new controls and processes to bolster the existing Theft and Fraud framework.

Operational Risk refers to the risk of financial or other loss, or potential damage to a firm’s reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks, or damage to physical assets). Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent, and comprehensive program for managing operational risk, both within each area and across the Firm globally.

This group designs, implements and monitors the company-wide operational risk program.

• Support the Head of External Fraud Risk by executing on the Firm’s non-financial risk framework to manage External Fraud risks. This includes practical application of ORD owned programs such as risk assessment, issues management, scenario analysis, and risk event capture.
• Provide thought leadership to drive strategic and tactical evolution of the Firm’s External Fraud Program to maintain effectiveness given evolving threat landscape.
• Perform independent oversight and monitoring of associated risks and controls.
• Provide credible, independent challenge to 1
  
  LoD programs and control efficacy without assuming ownership of execution.
• Develop and foster engagement with 2nd line colleagues across non-financial risk who cover Business Units and tangential risks to ensure a consistent and holistic risk management response.
• Build and maintain strong positive relationships with the respective 1st line community while maintaining appropriate independence as a 2
  
  LoD function.
• Maintain an awareness of evolving and emerging Fraud Risk issues as well as incidents and translate these into governance relevant risk insights rather than investigative response.
• Manage, coach, and oversee local resources within the Fraud Risk team.

• An undergraduate degree (B.A., B.S., or equivalent) required.
• 6+ years of relevant experience within Financial Services, with demonstrated exposure to Operational Risk, Non Financial Risk, or independent control oversight frameworks.
• Hands on experience working with enterprise risk programs such as non financial risk assessments (e.g., NFRAC/RCSA like processes), issues and remediation, scenario analysis, risk events, or risk metrics.
• Excellent communication skills, both verbal and written; ability to tailor communication to technical and non-technical audiences.
• Strong interpersonal skills in order to work in a team-oriented environment.
• Strong leadership, stakeholder management and influencing skills.
• Stron…