Anti-money Laundering Risk Enhanced Due Diligence (AML Risk Assistant Vice President)

Financial Crimes Risk Assistant Vice President 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 AML 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 AML Risk AVP will be responsible for overseeing due diligence and risk-relevant activities related to AML. The AVP will assess Bank Secrecy Act (BSA), anti-money laundering, and reputational risk matters identified through the execution of the Firm's protocols for both new and existing customers. This primarily includes reviewing, assessing and, where necessary, escalating certain clients' source of wealth to examine potential ML risk exposure for the Firm. Source of wealth encompasses the business, employment, or other activities that have contributed to the total worth of an individual or entity. In addition, the AML Risk AVP will have ultimate responsibility for escalating risk issues related to these processes with a particular focus on reviewing certain new and existing clients' source of wealth. The AML Risk Team AVP will: Actively manage and lead processes supporting the Firm's customer due diligence (CDD) and enhanced due diligence (EDD) program with a specific focus on source of wealth analysis and corroboration Manage data and trend analysis related to the source of wealth review process and provide reporting to relevant stakeholders Examine the source of wealth of certain new and existing Morgan Stanley clients Serve as a point of contact for questions, issues and escalations related to the review of certain clients' source of wealth Review and respond to monthly quality control findings related to the source of wealth review process Provide supervisory support and training for AML Risk Analysts through developing individual and team skills and providing timely constructive feedback Draft and update procedures and desktop guidance related to the client onboarding process Lead key projects and initiatives related to assessing and mitigating the Firm's exposure to money laundering and reputational risk-relevant activities Partner with business partners involved in the account opening process Partner with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis Qualifications Have 5+ years of 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.) Have a bachelor's degree in business, finance, or other related field Experience focused on examining potential clients' source of wealth during the client onboarding process 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 Working knowledge of MS Office 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 act on matters promptly Work independently and in a team environment Handle highly confidential information with appropriate discretion Work in a high volume, fast paced environment Work in a matrixed organization; leveraging resources across the organization to complete deliverables Skills Desired: Expertise in examining potential clients' source of wealth during the client onboarding process Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus #J-18808-Ljbffr PowerToFly