U.S. Banks 1st Line Business Risk (Reg W) Assistant Vice President/Vice President

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments — Institutional Securities, Wealth Management (WM), and Investment Management. Our Financial Advisors focus on delivering timely, customized solutions and services that help clients meet their financial and life goals. Our offering includes brokerage and investment advisory services, financial and wealth planning, access to credit and lending, deposits and cash management, annuities and insurance, and retirement services.

As a market leader, the talent and passion of our people is critical for our success. Together, we share a common set of values rooted in doing the right thing, putting clients first, leading with exceptional ideas, commitment to diversity and inclusion and giving back. Morgan Stanley can provide a superior foundation for building a professional career – a place to learn, achieve and grow.

The Vice President position is with the Transactions with Affiliates Office in U.S. Banks 1st Line of Defense Business Risk team. The team has responsibility for the implementation of the Banks’ Regulation W compliance monitoring program. As a Vice president, you will join a team of risk professionals from diverse range of backgrounds and experience who collectively ensure that the Firms Transactions with Affiliate Policy and Framework is implemented and functions well.

The role will be based in New York.

Responsibilities

• Primary liaison and Regulation W subject matter expert (SME) in the U.S. Banks 1st Line of Defense Business Risk Transactions with Affiliates team, which oversees compliance with affiliate transactions under Sections 23A and 23B of the Federal Reserve Act.
• Partner closely with business units to assess transactions with affiliates and review that effective controls are in place to comply with regulatory requirements.
• Review proposed affiliate transactions with Banks Legal and Reg W compliance as appropriate; review for adherence with statutory quantitative limits, collateral usage and market terms requirements in accordance with the Banks’ policies and procedures.
• Assist with regular monitoring and sampling of affiliate transactions to confirm compliance with Regulation W 23B Market Terms. Coordinate with technology and data teams to provide integrity and transparency to tracking and reporting of inter-affiliate transactions.
• Analyze transactions between the Banks and its affiliates; identify issues, facilitate timely resolution and retain appropriate documentation which evidence issue disposition.
• Work with Business Units, Financial Advisors and Private Bankers on New business Initiatives to identify potential Reg W obligations and associated controls.
• Coordinate 1LOD Business Risk Management NPA / SMA responses across the Reg W, Third Party, Business Continuity and Affiliate Risk Management.
• Support Business Units, Financial Advisors and Private Bankers with 23B Market Terms Framework compliance; review for completeness of relevant documentation, efficacy of controls, and record retention.
• Support Business Units with developing and updating their Reg W procedures.
• Identify process gaps or control weaknesses which may impact Reg W compliance; drive remediation efforts in collaboration with business partners, Bank Legal, Compliance and Operational Risk teams.
• Coordinate the U.S. Banks’ Reg W Internal Audit and Second Line of Defense audit and testing activities, respectively.
• Partner with Regulatory Relations, management, and other stakeholders to provide central coordination of Reg W examinations and other regulatory engagements and inquiries.
• Compile data and prepare internal reporting related to Reg W affiliate transactions, including management reporting.
• Lead Internal Audit, Regulatory and 2LOD remediation of identified issues, as appropriate, coordinating with stakeholders across the Banks and Firm.
• Continually evaluate and work with stakeholders to strengthen the Banks’ Reg W Governance Framework.

Qualifications:

• A bachelor’s degree in Finance, Accounting, Business, or a related field is needed; advanced degree (MBA, JD or similar) preferred.
• 8+ years of experience in the financial services, preferably in risk management, regulatory compliance.
• Strong knowledge of Regulation W (Sections 23A and 23B of Federal Reserve Act) and its application within large banking organizations
• Experience partnering with business units, Legal, Compliance and Operational Risk to assess complex inter-affiliate transactions.
• Good understanding of Institutional banking products, balance sheet structures and transaction booking models
• Strong analytical skills and innate ability to connect the dots
• Experience in regulatory compliance activities or internal audit is a plus.
• Ability to work in a fast-paced, high-demand environment, both independently and as part of a team, under tight deadlines and with the ability to manage multiple priorities concurrently, efficiently, and effectively.
• Attention to detail, strong analytical, quantitative, and investigative problem-solving abilities.
• Strong interpersonal, verbal, and written communication skills; capable of making presentations to an internal audience, and interacting positively with senior management, colleagues, and regulators.
• · Proficiency with Microsoft tools, experience with data analytics or reporting tools, and working knowledge of SQL is a plus.

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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Assistant Vice President

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.

Vice President

Expected base pay rates for the role will be between $110,000 and $190,000 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.

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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