Risk Management (Wealth Management)

Risk Management (Wealth Management)

Job Number:


POSTING DATE: Sep 22, 2021

PRIMARY LOCATION: Americas-United States of America-New York-New York

OTHER LOCATIONS: Americas-Canada-Alberta-Calgary

EDUCATION LEVEL: Bachelor’s Degree

JOB: Wealth Management


JOB LEVEL: Vice President


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.

Corporate and Institutional Solutions (CIS) [email protected] – Operational Risk, Wealth Management, VP

The CIS Operational Risk unit supports various corporate offerings including Morgan Stanley at Work ([email protected]). Morgan Stanley at Work is a division within Morgan Stanley Wealth Management comprised of Retirement Plan Solutions, Shareworks by Morgan Stanley Equity Compensation, and Financial Wellness. This division offers in-depth knowledge and resources focused on providing a full range of solutions that help address various institutional and employee financial challenges and complexities. The overall goal and vision of the division is to create a corporate experience and consistent corporate employee (“participant”) experience. The goal is to engage the client and participant throughout their financial life journey that will ultimately lead to a furthering and deepening of their Morgan Stanley Wealth Management relationships. The approach will be highly scalable, leveraging an omni-channel strategy with an emphasis on messaging, onboarding, cross-selling, activation and servicing.

The CIS Operational Risk team is a first line of defense function responsible for overseeing audits and exams, as well as operational risks and controls. This team partners with business stakeholders, second and third lines of defense to assess and report on operational risks, implement control processes and procedures, manage audits and exams, oversee risk management of vendors, manage business continuity plans, and conduct the Risk and Control Self-Assessment (RCSA).

The primary responsibilities for this role will be to lead [email protected] Governance Risk coverage for the CIS [email protected] Risk team with a focus on mitigating risk and improving the control environment. In this governance risk focused role, a candidate will be required to:

Provide support for internal audits, compliance exams and other areas of review. Act as a focal point in day-to-day tasks associated with both internal stakeholders and internal and external auditors

Lead and manage internal SOC 1 and SOC 2 processes. Act as an internal subject matter expert for SOC processes. Communicate and monitor timelines associated with audits.

Monitor status of Open Issues and Action Plans and work with assigned owners to remediate on-time and in accordance with plans. Assist with closure reviews of open issues as required.

Partner with the business to develop global policies affecting areas under coverage; working with regional risk leads and other business stakeholders, legal and risk to attain approvals. Assist with the roll-out of applicable policies and procedures.

Act as a key point of contact for maintaining and regular reporting of consolidated process inventory and risk acceptance inventory

Organize, develop, and present applicable risk management governance topics at educational sessions

Manage a team of 1-2 risk managers performing ‘governance’ risk activities

Oversee all Operational Risk framework related components

Ensure issues and action plans (remediations) are completed on target

Engage business partners to understand operational risk incidents and remediate as necessary, complete Lessons Learned reviews as required

Complete a comprehensive annual Risk and Control Self-Assessment (RCSA)

Manage projects as needed and assigned; deliverables are often related to ad-hoc and unanticipated requests, so a successful candidate must be able to work in an environment with evolving priorities, making good decisions about prioritization and communicating immediately where there are real risks to on-time delivery

Collaborate and build effective working relationships with all levels of employees across the organization. Partner with second and third line control functions (Legal, Compliance, Audit, and Operational Risk Department) on an ongoing basis

In addition, in order to be successful in this role, the ideal candidate will be:

Very familiar with [email protected] products/service, regulations, processes, etc



At least 5-7 years of experience in Financial Services Risk Management, Audit or Compliance role with wealth management experience preferred but knowledge and experience supporting corporate retirement business line is required

Knowledge and experience supporting [email protected] business a plus

SOC reporting a plus

Strong leadership skills and proven success managing teams

Project management skills and ability to effectively prioritize many competing assignments

Strong organization skills; ability to work under pressure and to tight deadlines

Strong analytical and problem solving skills

Excellent written and verbal communications skills

Detail-oriented and accurate

Proficiency in MS Office applications (e.g., Word, Excel, PowerPoint, Project)

Bachelor’s Degree required

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