U.S. Banks Field Operational Risk Officer - Assistant Vice President

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Global Wealth Management via Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. WM provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement and trust services.

 Morgan Stanley Private Bank, National Association (“Bank” or “MSPBNA”) provides deposit and lending products and services to serve the needs of Wealth Management clients and seeks a Field Operational Risk Officer as part of the Bank’s First Line Operational Risk Organization. The Field Operational Risk Officer will perform offsite risk monitoring, and onsite education and training of the operational and compliance risks related to the banking and lending activities of Private Bankers and Financial Advisors within the Field Operational Risk Officers’ dedicated region. The Field Operational Risk Officer will report to the Bank’s Head of Field Risk and will be based in the Purchase (NY) location.

The Field Operational Risk Officer will be expected to:

• Serve as the Bank’s in-field primary resource concerning operational risks related to cash management and lending products and services 

• Educate, advise and provide guidance to the field on questions and issues pertaining to products and services offered by the Bank

• Partner with, and leverage firm-wide monitoring groups and tools to oversee cash management and lending activities conducted by employees of the Bank in WM branches, to help ensure compliance with all applicable regulatory rules and all Firm and Bank policies and procedures

• Conduct daily and periodic monitoring activities and maintain accurate metrics and reporting for U.S. Banks Senior Management

•  Contribute to the preparation of senior management presentation materials

• Create/Maintain/Own applicable field risk policies, procedures, and control libraries pertaining to the U.S. Banks field risk program

• Track and monitor risk indicators and conduct timely escalation of emerging issues to senior management

• Prepare and summarize results of offsite monitoring

• Assist with ad-hoc and annual risk, vetting requests from various partners across Morgan Stanley

• Work collectively with Field and Bank management to identify, monitor, control and address operational risk-related issues

• Partner with and leverage the Firm and Bank’s Operational Risk Team frameworks and programs

• Contribute to the preparation of senior management presentation materials

• Travel Expected: 0-15%

The Field Operational Risk Manager should have:

• Bachelor’s Degree or higher

• 5+ years of experience in operational risk management, business management, legal/compliance, banking and lending product risk advisory, or internal audit

• Strong understanding of operational risk within the Financial Services industry (e.g. Private Banking, Retail Banking, and/or Mortgage Banking

• Daily email surveillance and call monitoring

• Broad knowledge of lending and deposit product risks including risks related to lending products and (including residential home loans, securities based loans, commercial real estate lending, and deposit and cash management products and services (including ACH, wires, Deposit accounts, CDs/Structured CDs and credit/debit cards)

Skills/Abilities:

• Ability to manage multiple tasks concurrently in an efficient and effective manner

• Strong organizational, presentation and reporting skills

• Effective written and verbal communication skills

• Ability to work both independently and with team members under tight deadlines

• Ability to execute in a fast paced, high demand environment while balancing multiple priorities

• Ability to manage initiatives involving process improvements

• Ability to build effective business partnerships across the Bank and Firm

• Ability to own an oversight framework element and proactively enhance that framework when needed

• Proficiency in Microsoft Office applications including Excel, PowerPoint, SharePoint

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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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.

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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