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. 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.Responsibilities:
The WM and U.S. Banks Financial Crimes Risk VP is a part of the WM and U.S. Banks Financial Crimes Risk EDD team and responsible for overseeing risk-relevant activities related to WM and U.S. Banks Financial Crimes Risk. The VP will assess Bank Secrecy Act (BSA), anti-money laundering, and reputational risk matters identified through the execution and management of the Firm's protocols for both new and existing customers. This includes managing programs and processes to examine potential risk exposure for the Firm. In addition, the WM and U.S. Banks Financial Crimes Risk VP will have ultimate responsibility for the escalation of issues or risks related to these programs and processes.The WM and U.S. Banks Financial Crimes Risk VP will:
Manage the end-to-end EDD workflow of a program focused on assessing WM and U.S. Banks Financial Crimes risks related to new and existing clients to effectively mitigate potential WM and U.S. Banks risk exposure, including but not limited to:
Actively managing and leading strategic initiatives, processes and tasks supporting the Firm's EDD program.
Providing risk management services in support of the growth of the WM and US Banks businesses.
Lead key projects and initiatives related to assessing and mitigating the Firm's exposure to money laundering and reputational risk-relevant activities.
Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to onboard new and existing International Banking & Lending client relationships.
Actively identify, measure, control and remediate money laundering and reputational risk issues with partners in Global Financial Crimes, Compliance and the Business Units.
Partner with the Business Units, including Private Bankers, Lending Advisors, and Branch Risk Officers, to ensure appropriate client on-boarding due diligence processes are enacted while providing a positive client experience.
Partner with the Second Line of Defense Global Financial Crimes Compliance teams to monitor client relationships on an ongoing basis and ensuring compliance with regulatory expectations.
Manage the implementation of internal policies, provide periodic risk relevant reporting to senior stakeholders and make recommendations to improve procedures governing WM and U.S. Banks Financial Crimes risk-related activities.
Manage processes set up to complete Enhanced Due Diligence for Wealth Management and US Banks clients including reviewing customer data and documentation to satisfy BSA/ WM and U.S. Banks Financial Crimes Risk Compliance requirements.
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Required Experience:
Have 7 years of relevant experience with BSA/ WM and U.S. Banks Financial Crimes Risk 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.).
Have an undergraduate 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 leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
Ability to:
take initiative, analyze, summarize, and communicate effectively.
investigate, identify issues, impacts and trends to propose comprehensive solutions.
multitask effectively and action matters promptly.
work independently and in a team environment.
handle highly confidential information with appropriate discretion.
work in a high volume, fast paced environment; and
work in a matrixed organization, leveraging resources across the organization to complete deliverables.
Additional Skills Desired:
Working knowledge of MS Office.
Experience with data and trend analysis related to the management of a Financial Crimes Risk program.
Expertise in managing programs focused on ensuring quality within Financial Crimes Risk programs.
Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent Financial Crimes Risk certification/license is a plus.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).Expected base pay rates for the role will be between $100,000 and $180,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
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Job: Wealth Management Title: Vice President: Anti-money Laundering Risk - Enhanced Due Diligence Location: New York-New York Requisition ID: 3254678