Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. WM’s network includes approximately 15,000 Financial Advisors with total client assets of over $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 (“MSPBNA”) provides cash management and lending products and services to serve the needs of WM clients. The MSPBNA Lending Business Control Unit (BCU) is responsible for supporting a centralized first-line risk management framework across the PBNA Lending businesses, including Securities Based Lending (SBL), Tailored Lending, Private Share Lending, Morgan Stanley Home Loans, and International Lending. The team drives cross-product risk governance, regulatory initiatives, and operational risk management activities designed to promote consistent execution of the U.S. Banks Risk Governance Framework across the Lending businesses. The US Banks seeks an Associate to join the BCU. The candidate will support the execution of consolidated risk and governance initiatives across the lending products including enterprise and regulatory initiatives, risk governance programs, issue management, procedures governance, risk assessments, reporting, and other first-line risk management activities.
The BCU Associate will report to the MSPBNA Lending Business Control Unit, Executive Director, and will be based in Purchase or New York City.
The Business Control Unit Associate will:
Reporting and Administrative Responsibilities
Support the development, maintenance and continued enhancement of consolidated reporting for management, committees, and governance forums, including ad hoc reporting as needed
Prepare consolidated reporting on Issues, Incidents, metrics, and risk management activities for the SBL business or across the Lending businesses.
Support in the development, review, and maintenance of procedures for SBL or across Lending businesses
Prepare PowerPoint presentations and other materials for ad hoc status reporting and for monthly risk meetings
Produce Excel reporting, perform data analysis, and support ongoing monitoring activities.
Manage recurring Lending BCU team meetings, driving content, awareness and key deliverables across the teams
Risk Oversight Responsibilities
Perform tasks associated with Non-Financial Risk Assessment (“NFRA”), including the maintenance of a Risks and Controls inventory for SBL or across the Lending business, including:
Ongoing assessment for consistency of risk and control profiles across the Lending business units
Documenting risks, impacts and mitigating controls within the Bank’s Risk Management systems for Lending Business processes
Supporting business partners in the execution of the NFRA
Support in responding to requests and remediation of findings/observations related to control testing
Oversight of Lending BCU owned controls and maintenance of documentation evidence
Support and assist the Lending BCU teams and management for the following:
Identification and execution of risk management standards and best practices
Issue and incident identification, documentation, and closure for assurance of effective remediation related to control breaks. Includes tracking progress and status reporting
Support operational risk management activities across the Lending businesses, including risk identification, assessment, monitoring, reporting, and review of business risk assessments in partnership with BCU teams and risk owners.
Business Continuity Management activities for SBL or across the Lending businesses
Support governance and oversight activities related to centralized quality review processes
Creation,…