VP, Digital Assets Operational Risk

Digital Assets Operational Risk Coverage Officer

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.

The professionals in the Legal and Compliance Division provide a wide range of services to our business units. LCD is made up of the Legal, Regulatory Relations, and Non-Financial Risk departments which preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that are designed to meet regulatory requirements around the world. We also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm's businesses.

Background on the Position

We're seeking someone to join the Wealth Management (WM) Operational Risk team as the Operations, Finance, and Strategic Initiatives coverage officer. The role will reside within 2nd line Non-Financial Risk's (NFR) Operational Risk Department (ORD). Operational risk is defined as the risk of loss or impacts resulting from inadequate or failed internal processes, people and systems or from external events. The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., fund investment) and control groups (e.g., information technology and fund administration).

The role as the Digital Assets Operational Risk coverage lead is to partner with Wealth Management business and control groups to provide independent advice and guidance on execution of business activities, strategic programs and initiatives, ensure operational risk policies and procedures are executed as intended and to conduct independent oversight activities such as proactive risk reviews. This individual will play a critical strategic role in driving risk management activities and adoption of risk management framework across digital asset programs. This role sits in the 2nd Line as part of ORD's WM coverage organization; as such, a key enabler for success will be the ability to establish strong relationships with partners in the 1st Line WM Risk and Business functions, while maintaining a healthy voice of independent challenge.

Primary Responsibilities:

• Partner with the Wealth Management business and related control groups (e.g., Technology, Operations) and serve as the 2nd Line subject matter expert for digital asset related operational risk matters
• Liaise with 2nd Line centralized risk teams (e.g., Fraud, Cybersecurity, Technology, Information Security, Third Party), Compliance, Global Financial Crimes and testing teams to ensure an integrated 2nd Line risk approach to digital asset risks
• Play an active role in the review and approval of new digital asset products, services, and activities, and participate in relevant committees and working groups
• Advise on digital asset related process and control design as well as remediation efforts; oversee and monitor losses and impacts related to WM's digital asset business
• Assess operational risk impacts of the digital asset business via non-financial risk assessments, incident reporting, capital requirements, etc.
• Perform Deep Dives, Targeted Risk Assessments, and Lessons Learned exercises on material operational risk events (internal and external) and analyses of thematic operational risks
• Work collaboratively in a high performing global team responsible for identifying, assessing, reporting, and capturing operational risk information
• Drive a no surprises approach in ensuring that operational risks are well known and understood

Qualifications

5+ years of work experience in blockchain and digital asset activities, preferably including experience in a bank, broker-dealer, Virtual Asset Service Provider (VASP), or Crypto Asset Service Provider (CASP)

Strong understanding of blockchain and other Web3 activities including crypto trading, wallet infrastructure, asset tokenization, custody, and digital identity, as well as associated rules and regulations

Understanding of key / shard cryptographic controls including HSMs, MPC, DKG, m-of-n signing, time-locked transactions, and encryption standards

Knowledge of operational risk management concepts (e.g., RCSA/NFRA, Issues identification and remediation, operational loss events)

Self-starter with the ability to independently formulate and execute new ideas, and to critically evaluate risks

Strong communication and organization skills with the ability to multitask and prioritize; ability to work under pressure and tight deadlines

Demonstrated ability to collaborate across multiple functional areas while maintaining suitable independence and effective challenge

Bachelor's degree or equivalent

Morgan Stanley is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.