Financial Crime Risk – Enhanced Due Diligence Associate

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. The WM and U.S. Banks Financial Crimes Risk Assistant Vice President (AVP) is part of Wealth Management and the Morgan Stanley Private Bank, National Association and the Morgan Stanley Bank, NA (collectively, the “U.S. Banks”) on the WM and U.S. Banks Financial Crimes Risk Team.

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. 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 Financial Crimes Risk Associate will be responsible for executing risk-relevant activities related to AML. The Financial Crimes Risk Associate will assess Bank Secrecy Act (BSA), money laundering and reputational risk matters identified through the execution of the Firm’s EDD protocols and will have ultimate responsibility for the escalation of issues or risks related to these processes. Additionally, this role is expected to periodically support ad-hoc projects and initiatives, including remediation lookbacks and/or root-cause analysis and solutions implementation.
• The Financial Crime Risk Associate will:
  Act as the primary contact for the Financial Advisor team and perform ongoing outreach and engagement
• Develop broad knowledge of the EDD review operations end-to-end cycle and provide subject matter guidance to project teams
• Ensure timely feedback loop on identified gaps or issues to stakeholders involved in EDD review
• Actively identify, measure, control and remediate AML and reputational risk issues with partners in Global Financial Crimes, Compliance, and the Business Units
• Perform processes in accordance with internal policies, develop and monitor periodic AML reporting to senior stakeholders, and make recommendations to improve procedures governing AML-related activities
• Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to manage client relationships
• Collaborate with Global Financial Crimes to ensure the BSA/AML program operates effectively and continues to comply with regulatory requirements and expectations

• Have 3-5 years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Office of the Comptroller of the Currency, Federal Reserve Bank, Securities and Exchange Commission, etc.)
• Have an Bachelors degree in Business, Finance, or other related field
• Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Strong work ethic with an ability to work both independently and with team members, under tight deadlines
• Ability to work in a high volume, fast paced environment
• Ability to handle highly confidential information professionally and with appropriate discretion

• Working knowledge of MS Office
• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus