Financial Crimes Program Design: Oversight, Emerging Risk & Transformation - Vice President

Company: Morgan Stanley
Location: Miami
Posted on: February 26, 2025

Job Description:

Job Description - Financial Crimes Program Design: Oversight, Emerging Risk & Transformation - Vice President (3258085)Job Number:3258085Posting Date:Sep 10, 2024Primary Location:Americas-United States of America-Florida-MiamiOther Locations:Americas-United States of America-New York-PurchaseEducation Level: Bachelor's DegreeJob:Wealth ManagementEmployment Type: Full TimeJob Level: Vice PresidentDescription:Morgan Stanley is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley 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. 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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, achieve, and grow.The First Line Financial Crime Program Design Office is responsible for the oversight, design, implementation, and maintenance of all first line of defense financial crimes activities including defining risk mitigant strategies, adherence to policy and setting risk tolerance and expectations as well as championing the customer experience.Serve as a senior risk manager for 1L Financial Crimes responsible for establishing internal strategies, policies, procedures, processes, and programs to prevent violations of law, rule, or regulation and design and deliver a risk management framework that maintains risk levels within the firm's risk appetite and protects the franchise. Provide comprehensive oversight of risk and strategic initiatives, ensuring alignment with organizational goals and maintaining accountability for the successful execution of key deliverables. This role will work closely with leaders across Financial Crimes and second line to and be responsible for driving end to end solutions by managing root cause analysis in close partnership with the front office, business risk managers, Compliance, Operations and Technology partners and leading them through to execution.Responsibilities:

• Partner with cross functional teams to analyze, deconstruct, and map current state process and identify improvement opportunities including creation of target operation models.
• Responsible for establishing in-business control programs and overseeing the execution and health of the Financial Crime program across all business lines ensuring that the business program, systems, procedures, and controls met regulatory and industry expectations.
• Directing the design, development, delivery and maintenance of best-in-class in-business programs, policies, and practices including innovative solutions to enhance the value and efficiency of activities to address emerging risks, and that appropriate risk identification, measurement, monitoring, and control assessments are in place and working as expected.
• Translating Program Design strategy and goals across Morgan Stanley's clients, products, and geographies in a succinct and clear manner; providing direction and guidance on the programs.
• Direct the identification of risks which impact the Program Design Office and ensure mitigation strategies are developed and executed when necessary.
• Manage oversight of the Program Design Office's Framework, Issues and Action Plans, which includes establishing managing action plan milestones, timelines, and the timely follow-up and coordination between multiple stakeholder groups to bring each Issue to closure.
• Providing oversight and guidance over the assessment of complex issues, structures potential solutions and drives effective resolution with other stakeholders including Financial Crimes Management, Risk, and KYC Office as well as internal audit staff.
• Overseeing the identification and assessment of Morgan Stanley's key Financial Crimes risks. Ensuring those risks are effectively identified, measured, monitored, and controlled, consistent with the bank's risk appetite statement and all policies and processes established within the risk governance framework.
• Developing and establishing firm wide risk management standards and procedures to mitigate risks. Monitors and measures compliance risk through a robust control framework and ensures that reviews are conducted consistently across each entity on a regular basis to confirm that controls identified are operating effectively.
• Working collaboratively with business/functional line management in recommending, developing, and executing on business initiatives including assessing complex issues, structure potential solutions, and drive effective resolution within permissible statutory and regulatory frameworks.
• Serve as the primary point of contact representing the program Design Office in business and compliance forums, strategic/project working groups, exams, audits, etc.
• Champion and draft project requests to address identified gaps, with the objective of retiring manual workarounds, driving operational efficiency.
• Partner with stakeholders to prioritize changes impacting the Financial Crime Program; Risk, Customer Experience and Execution, applying the principle that "not all risk is created equal" by focusing on high-impact areas.
• Develop and implement clear, coherent communication strategies that detail the scope, progress, and outcomes of Program Design projects, ensuring transparency and stakeholder engagement at all levels.
• Provide regular updates to senior management and other stakeholders on the status, risks, and outcomes of strategic projects, ensuring that all communications are concise, transparent, and actionable.Qualifications:Required Experience:
• 7+ years of risk management, compliance, control, and/or audit experience in a Bank or financial services institute with a demonstrated record of success and/or growth.
• Have an undergraduate degree or equivalent experience in Business, Finance, or other related fields.
• Deep functional knowledge of the Wealth industries and applicable AML KYC rules, regulations, policies, and processes with preferred knowledge of and experience of Anti-Money Laundering (AML) and Sanctions programs.
• Superior organizational skills, with proven ability to successfully manage multiple and concurrent priorities while working independently or with little supervision.
• Self-motivated with a passion for establishing and maintaining a culture of control within the business while keeping the client experience in mind.
• Demonstrated relationship management skills with ability to deepen relationships and build partnerships across the business and key functional support areas with a strong ability to influence a group of diverse stakeholders and drive accountability and ownership with key business partners and process owners.
• Detail oriented, with proven ability to question and identify opportunities within existing processes and business practices by leveraging previous experiences and knowledge of the business.
• Pragmatic problem-solver, forward thinker with independence of thought and strong critical thinking skills.
• Excellent verbal and written communication skills.Ability to:

• Handle highly confidential information with appropriate discretion.
• Direct and drive senior stakeholders towards a common goal and high EQ.
• Operate with confidence and comfort in high-paced and high-profile environments.Additional Skills Desired:Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).Expected base pay rates for the role will be between $100,000 and $170,000 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.
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