Complex Products Risk Officer (CPRO) - Listed Derivatives & FX Forwards, Assistant Vice President

The Complex Products Risk (CPR) team provides centralized oversight of Equity/Index Options, Futures, and Foreign Exchange (FX) Forwards activity—helping ensure best-in-class supervision aligned to internal risk standards, controls, and policies. As a Complex Products Risk Officer (CPRO), you will deliver centralized, front-to-back supervision using exception-based risk management—partnering closely with Financial Advisors and branch/complex leadership who support High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients to help enable responsible, compliant growth.

This role is built for ambitious, highly motivated professionals who want broad exposure across complex products, meaningful ownership, and the chance to raise the bar on supervisory excellence and influence how risk supervision is executed at scale.

What you’ll do (Front-to-Back Supervision / Risk Management)

• Partner directly with Financial Advisors and Market leadership, supporting HNW/UHNW clients to address complex product risks, position concerns, and remediation actions in a timely, client-sensitive manner
• Translate complex product activity and exceptions into actionable guidance and escalation recommendations
• Communicate clearly and effectively with a wide range of stakeholder groups—including Financial Advisors, Branch/Complex Management, Local Risk Officers, Compliance, Legal, Operations, and senior Risk leadership—tailoring message, details, and urgency to the audience
• Ensure adherence to Firm policies, supervisory standards, and internal controls, in alignment with applicable CFTC, NFA, FINRA, SEC, and exchange regulations
• Partner with stakeholders across Wealth Management (Risk, Compliance, Legal, Supervision, Operations, Branch/Complex leadership) to resolve items requiring escalation
• Provide Branch/Market management with clear, regular updates on emerging risks, patterns, and key themes
• Build awareness and adoption of CPR’s supervisory expectations, processes, and controls through proactive stakeholder engagement

Product Coverage Responsibilities:

Equity/Index Options Supervision

• Conduct risk reviews of options strategies; drive communication and remediation for at-risk accounts
• Evaluate strategy-related risk concerns
• Monitor for exercise and assignment risk
• Provide oversight of FLEX options positions
• Conduct communications reviews and options trading activity reviews for relevant supervisory partners

Futures Supervision

• Perform front-to-back futures supervisory oversight across onboarding and ongoing monitoring (e.g., account opening/principal approvals, active account reviews, bridge account eligibility, periodic NFA Bylaw 1101 review)
• Execute trade and position surveillance and controls (e.g., trade blotter reviews, position limits management, start-of-day/end-of-day positions-at-risk monitoring, supervision of EFP/EFS/EOO and block trading)
• Manage risk limit governance and exceptions (e.g., pre-trade risk limit administration, trading limit approvals/escalations, hedge spot month exemption reviews, trading exceptions)
• Oversee documentation, communications, and reporting (e.g., voice recording/VRCS requests and playback reviews, third-party research reviews, expirations/transfers oversight, updates to Branch/Complex management)

FX Forwards Supervision

• Provide onboarding and ongoing supervisory oversight, including new account reviews/principal approvals and periodic program reviews
• Execute trading surveillance and manage limits and exception management
• Support trading limit approvals/escalations; manage sales credit adjustments and ECP/sales credit exceptions

What success looks like

• You surface meaningful risk themes early, connect the dots across products/processes, and drive issues through to closure
• You deliver high-quality, defensible documentation and escalate with strong judgment and clarity
• You become a trusted partner to supervisory and business leadership—bringing commercial perspectives and solutions
• You improve the program over time by spotting patterns and strengthening controls and processes

What we’re looking for

• Experience in risk management, supervision, compliance, operations, or a related control function in a regulated financial services environment
• Working knowledge of relevant regulatory expectations (CFTC/NFA, FINRA/SEC, exchange rules)
• Highly analytical, curious and detail-oriented investigator with strong problem-solving skills
• Demonstrated ability to identify issues and emerging trends, develop practical end-to-end solutions, manage complex workstreams independently, and prioritize effectively to deliver high-quality results within tight deadlines
• Exceptional written and verbal communication skills, with the ability to tailor messaging to the audience, drive alignment, and escalate matters with sound judgment and urgency when appropriate

Why this role

• Impact: Help build and evolve a centrally managed supervisory program for complex products within Wealth Management
• Visibility: Partner closely with Branch/Complex leadership and cross-functional teams
• Growth: Build deep expertise across products, regulations, and front-to-back processes
• Ownership: Run investigations end-to-end and meaningfully influence outcomes

Qualifications/Licensing

• Active Series 7 and Series 9/10 are preferred
• Strong consideration for candidates also registered as Series 3, Series 4, and/or Series 24

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

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 differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

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NY - Expected base pay rates for the role will be between 85,000 and 140,000 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.

IL - Salary range for the position: 85,000 and 140,000 per year. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

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