US Banks Financial Crimes Risk Officer – Governance Program Management AVP

US Banks Financial Crimes Risk Officer – Governance Program Management AVP

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The U.S. Banks Financial Crimes Risk (FCR) 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 U.S. Banks 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 U.S. Banks FCR Governance Assistant Vice President (AVP) is responsible for supporting and executing the Firm’s First Line Financial Crimes program for WM and U.S. Banks. The role will be responsible for executing the strategic direction of the Financial Crimes programs and performing advisory, governance and other oversight responsibilities. This position will work closely with the business, Second Line (Global Financial Crimes) and Third Line (Internal Audit) stakeholders to ensure the business is compliant with relevant financial crimes standards, policies, procedures, and applicable laws and regulations.

• Exercise Bank Risk Program Governance responsibilities such as providing support to US Banks FCR Governance Leads in the oversight of:
• Bank Know Your Customer (KYC) and Customer Due Diligence (CDD) programs across the US Banks (inclusive of the Retail Bank (Advised and Digital Channels) and Institutional Bank)
• Bank BSA/AML Sanctions processes within the first line that are independent of 1L FCR (such as Currency Transaction Reporting (CTR) Filings, Fraud Operations, and transaction monitoring)
• Bank process and strategic program design enhancements and transformation initiatives across the Retail Bank and Institutional Bank
• Internal and external testing and examinations of the BSA-AML and Sanctions program
• Develop and maintain subject matter expertise and understanding of process flows, procedures and policy requirements governing the US Banks KYC, CDD and other BSA AML and sanctions program functions
• Provide support in periodic internal front-to-back assessments of Bank KYC, CDD and other BSA/AML program functions to understand program risks/inefficiencies and drive and oversee remediation, where applicable
• Attend Working Group forums held by the first line, second line and Banking Business Units to ensure ongoing insight into regulatory, internal audit and program testing plans, metrics (inclusive of key performance and risk indicators governing business performance), program risks (current and emerging), efforts and concerns, and escalation items
• Support First Line Advisory responsibilities for regulatory exams, issues and actions and related testing engagements such as supporting US Banks FCR Governance Leads in the collaboration and compilations of Day 1 Letter responses to regulators
• For regulatory follow-up requests, maintain oversight of the responses, ensuring accuracy and completeness (will require collaboration across senior management in 1L FCR, GFC, applicable business units, and Internal Audit, as needed)
• Collaborate with First Line WM and IM Issue Management Team to ensure awareness and oversight of all Bank issues and actions
• For Bank issues and actions with regulatory impacts and critical risk ratings, support US Banks FCR Governance Leads in review and challenge on closure summary write-ups, appropriateness of closure materials and first line signoff prior to submission in Open Pages
• For closure verification, support responses to follow-up requests

• Minimum 5 years of experience in financial crimes/AML
• Bachelor’s degree

• Attention to detail and ability to…