WM Financial Crimes Risk Office; Fraud, Sanctions, Travel Rule Oversight - Vice President

Job Description

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

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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, achieve, and grow.

Department Profile

The WM and U.S. Banks 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 and higher risk products and services.

The WM and 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 Vice President, WM Financial Crimes Risk Office is responsible for the risk oversight of Financial Crimes and KYC activities within the first line of defense. The role will support leadership in the execution of the strategic direction and oversight of BSA Fraud, Sanctions and Travel Rule. The role will facilitate 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 laws and regulations through the proper implementation and execution of applicable MS policies, standards, and procedures.

Vice President, Financial Crimes Risk Office;
Fraud, Sanctions, Travel Rule

• Support the implementation of transformational, high-impact enhancements across Financial Crimes Risk programs to drive risk reduction, implement efficiencies, design and implement new or enhanced controls and improve client experience
• Support the execution of target operating model for in-scope Financial Crimes Risk & Control programs, including but not limited to the oversight of BSA related Fraud issues, Sanctions and Travel rule
• Drive consistency and standardization of Risk & Control programs and processes including the oversight of BSA related Fraud issues, Sanctions and Travel rule
• Partner with and influence a wide range of stakeholders from 1st line, 2nd line and 3rd line
• Identify, escalate, and support management as it relates to identification and remediation of top & emerging risks
• Engage with various 1st line teams across WM to assess the impact of financial crimes risks in their area
• Support the implementation of oversight reporting and associated working group forums to review risk items, KRIs, KPIs

• 7+ years of relevant experience with transformation programs and/or Financial Crimes risk management programs
• Bachelor degree in Business, Finance, or other related fields
• Strong understanding of Financial Crimes Risk, 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.) is a plus
• Regulatory remediation experience at global, large-scale bank is a plus
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes
• Experience with Sanctions and Travel Rule
• Experience with Fraud is a strong plus the oversight of BSA related Fraud issues, Sanctions and Travel rule

• Deliver high impact with a high sense of urgency
• Juggle competing critical priorities while demonstrating timely and tangible progress
• Effectively navigate a highly complex and high velocity environment with a wide range of stakeholders
• Communicate complex matters in a concise, crisp, and action-oriented manner for different sets of stakeholders, including executive management
• Lead with confidence and comfort in high-paced and high-profile environments with minimum supervision
• Identify issues, investigate root causes, and escalate promptly
• Handle highly confidential information professionally and with appropriate discretion

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s…