Wealth Management Operational Risk Coverage Professional

Background on the Position

The role will reside within Operational Risk Department. 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). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing).

This position directly supports a senior-level team in operational risk by providing analytical, decision-making, and presentation support.

The successful candidate will be responsible for developing and enhancing ORD’s capabilities to oversee the investment and product risks associated with the provision of wealth management and banking product services through WM’s almost 16,000 Financial Advisors located in over 600 locations. Strong knowledge of financial products and wealth management services is essential to engage in constructive discussions about investment risks relative to a client’s goals, investing experience, product knowledge, and risk tolerance.

Specific experience with surveillance tools and data analytics to extract risk insights is required to develop 2nd line risk monitoring and management tools and reports. As this role sits in the 2nd line Wealth Management Risk coverage organization, a key enabler for success will be the ability to establish strong relationships across the organization, while maintaining a healthy challenge with the business teams.

• Support the Independent Risk Management oversight for Wealth Management’s Investment Solutions organizations, including Advisory Services and Capital Markets.
• Establish, maintain, and execute the Operational Risk Management Oversight Framework.
• Identify risk issues in the business and perform reviews into such areas to identify gaps, perform Deep Dives and recommend risk mitigations strategies.
• Establish appropriate metrics and analytical tools to support 2nd line oversight of Wealth Management’s investment and product risk management to allow for ongoing monitoring, escalation and decision making with advancements to set thresholds that require 2nd line approval.
• Provide ad-hoc, monthly, and quarterly risk reporting.
• Collaborate with business and risk control functions.

• 5 years’ experience in relevant operational risk roles.
• Extensive knowledge of financial products, ideally wealth management product services. Detailed knowledge of operational risk management frameworks, including loss data processes, issue and remediation processes, risk and control self-assessments, and scenario analyses.
• Self-starter with ability to initiate, plan and execute projects.
• Control mentality with an ability to anticipate unforeseen consequences.
• Strong verbal and written communication skills with confidence to challenge business where appropriate.
• An undergraduate degree (B.A., B.S., or equivalent).

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. Our values – putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back – guide the decisions we make every day. Our teams value collaboration and diversity, and we support our employees through comprehensive benefits and opportunities for career growth.

Base pay for this role will be between $80,000 and $140,000 per year at the commencement of employment. Base pay is individualized and may also include commission earnings, incentive compensation, discretionary bonuses, and other 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.

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