Wealth Management Operational Risk Issue And Action Associate
- Full-Time
- Baltimore, MD
- Morgan Stanley
- Posted 3 years ago – Accepting applications
Job Description
Wealth Management Operational Risk Issue and Action Associate
MS Wealth Management (MSWM) Operational Risk
The Morgan Stanley Wealth Management (MSWM) Operational Risk group is responsible for overseeing the operational risk and control framework across the Wealth Management business unit. This team partners with Business Risk and Control groups throughout the organization to execute independent risk monitoring functions, implement control processes and procedures, report operational losses, manage various audit and compliance exams, organize the annual Risk and Control Self-Assessment and coordinate new operational risk programs in partnership with the business as well as Firm Operational Risk Management.
Key Responsibilities will include but not limited to the following:
This role will provide broad exposure to all functions and business lines within Wealth Management. The main responsibilities of this role will be to focus on persistent improvement of Wealth Management issues and action plans, mitigating risk and improving the control environment within Wealth Management. The responsibilities of the role are a combination of business as usual processes and discrete projects that are strategic in nature.Specific duties within the WM Operational risk team will include:? Work closely with Business Control groups to identify operational risks associated with new and existing products, services, technologies, vendors, processes and procedures to ensure that issues and corresponding action plans are appropriately defined and documented
? Support monthly and quarterly Wealth Management Risk issue and action plan management reporting in partnership with key stakeholders
? Execute issue and action plan tracking based on Firm Operational Risk incident data and Wealth Management sourced data. Tracking is intended to ensure that high value projects, including regulatory and mandatory “change the bank” initiatives, are appropriate and remain on-track
? Execute closure verification of action plans to confirm that remediation has been sufficiently completed
? Provide feedback and identify opportunities to improve solutions where appropriate
? Provide business control units with training and guidance on Wealth Management Risk systems and repositories. Support development of Risk Dashboards and coordinate with Firm Operational Risk to define and implement enhancements to Firm risk infrastructure
? Maintain and update team procedures, tools and job aids to help facilitate effective administration of the Wealth Management Risk group
? Manage ad-hoc projects to ensure appropriate solutions and/or analysis is delivered on-time and to a high level of quality
A successful candidate will already understand operational risk management concepts and be able to support a variety of operational risk management initiatives and special projects. Deliverables are often related to ad-hoc and unanticipated requests, so a successful candidate must be able to manage changing priorities, make sound decisions, complete their assignments and communicate immediately where there are potential risks to on-time delivery. A candidate needs to be collaborative and able to build effective working relationships with all levels of employees across the organization.
Attention to detail and accuracy is critical, given the executive audience for much of the team’s work. A candidate needs to be collaborative and able to build effective working relationships with all levels of employees across the organization.Specific qualifications required are:
? Experience in Financial Services, preferably within operational risk disciplines
? Strong project management skills with the ability to work independently (candidate should be self-motivated with strong analytical and problem-solving skills)
? Basic knowledge of products and markets, particularly around retail brokerage or investment advisory programs, trade support and/or capital markets
? Ability to work in a small team environment, build and maintain a network of contacts and coordinate with a large number of stakeholders
? Solid interpersonal skills, including written and verbal communication, are required
? Strong organizational skills with the ability to multitask, prioritize and work under pressure and to tight deadlines
? Advanced knowledge of Tableau, Microsoft Office suite, emphasis in Excel and PowerPoint
? Bachelor’s degree required
Apply to this Job
Job Number:
3168983
POSTING DATE: Apr 14, 2021 PRIMARY LOCATION: Americas-United States of America-Maryland-Baltimore EDUCATION LEVEL: Bachelor's Degree JOB: Wealth Management EMPLOYMENT TYPE: Full Time JOB LEVEL: AssociateDESCRIPTION
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.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 integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.MS Wealth Management (MSWM) Operational Risk
The Morgan Stanley Wealth Management (MSWM) Operational Risk group is responsible for overseeing the operational risk and control framework across the Wealth Management business unit. This team partners with Business Risk and Control groups throughout the organization to execute independent risk monitoring functions, implement control processes and procedures, report operational losses, manage various audit and compliance exams, organize the annual Risk and Control Self-Assessment and coordinate new operational risk programs in partnership with the business as well as Firm Operational Risk Management.
Key Responsibilities will include but not limited to the following:
This role will provide broad exposure to all functions and business lines within Wealth Management. The main responsibilities of this role will be to focus on persistent improvement of Wealth Management issues and action plans, mitigating risk and improving the control environment within Wealth Management. The responsibilities of the role are a combination of business as usual processes and discrete projects that are strategic in nature.Specific duties within the WM Operational risk team will include:? Work closely with Business Control groups to identify operational risks associated with new and existing products, services, technologies, vendors, processes and procedures to ensure that issues and corresponding action plans are appropriately defined and documented
? Support monthly and quarterly Wealth Management Risk issue and action plan management reporting in partnership with key stakeholders
? Execute issue and action plan tracking based on Firm Operational Risk incident data and Wealth Management sourced data. Tracking is intended to ensure that high value projects, including regulatory and mandatory “change the bank” initiatives, are appropriate and remain on-track
? Execute closure verification of action plans to confirm that remediation has been sufficiently completed
? Provide feedback and identify opportunities to improve solutions where appropriate
? Provide business control units with training and guidance on Wealth Management Risk systems and repositories. Support development of Risk Dashboards and coordinate with Firm Operational Risk to define and implement enhancements to Firm risk infrastructure
? Maintain and update team procedures, tools and job aids to help facilitate effective administration of the Wealth Management Risk group
? Manage ad-hoc projects to ensure appropriate solutions and/or analysis is delivered on-time and to a high level of quality
ORGANIZATION
Qualifications:A successful candidate will already understand operational risk management concepts and be able to support a variety of operational risk management initiatives and special projects. Deliverables are often related to ad-hoc and unanticipated requests, so a successful candidate must be able to manage changing priorities, make sound decisions, complete their assignments and communicate immediately where there are potential risks to on-time delivery. A candidate needs to be collaborative and able to build effective working relationships with all levels of employees across the organization.
Attention to detail and accuracy is critical, given the executive audience for much of the team’s work. A candidate needs to be collaborative and able to build effective working relationships with all levels of employees across the organization.Specific qualifications required are:
? Experience in Financial Services, preferably within operational risk disciplines
? Strong project management skills with the ability to work independently (candidate should be self-motivated with strong analytical and problem-solving skills)
? Basic knowledge of products and markets, particularly around retail brokerage or investment advisory programs, trade support and/or capital markets
? Ability to work in a small team environment, build and maintain a network of contacts and coordinate with a large number of stakeholders
? Solid interpersonal skills, including written and verbal communication, are required
? Strong organizational skills with the ability to multitask, prioritize and work under pressure and to tight deadlines
? Advanced knowledge of Tableau, Microsoft Office suite, emphasis in Excel and PowerPoint
? Bachelor’s degree required