Job Abstract

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 Wealth Management (WM) and IM Shared Services Know Your Customer (KYC) Office is an AML function under Financial Crimes, embedded within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The WM and U.S. Banks Financial Crimes Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.

The KYC Office Risk & Controls VP is responsible for leading AML/KYC Policy and regulatory initiatives for all three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. This role will 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. Additionally, this role will have responsibility for ensuring all processes executed in support of the KYC office, regardless of function, have appropriate governance and controls in place to evidence compliance with applicable regulations such as Bank Secrecy Act, PATRIOT Act, FinCEN CDD, as well as applicable Morgan Stanley Policies, Procedures and routines. This position serves as to all lines of defense. This role manages specific activity to include corrective action planning/tracking, project management, impact and risk assessment and implementation plan oversight.

Responsibilities:
The Wealth Management (WM) and IM Shared Services KYC Office Risk & Controls Lead reports into the Control Lead of the KYC Office and is responsible for overseeing risk and controls for the KYC Office, partnering with the Financial Crimes Risk Office to ensure the pillars within KYC are effectively executing the WM and US Banks Financial Crimes risk governance framework, within risk appetite, including risk identification, measurement, monitoring and control.
This role will work closely with leaders across Financial Crimes and second line to oversee the KYC Office’s risk management processes, including review and challenge of the second line of defense program design; adoption and assessment of program requirements and controls within the KYC Office; and self-identification and remediation of KYC issues.

· Manage all identified issues and work with Business, Compliance, Operations and Technology teams to actively identify new AML/KYC policy gaps

· Act as the KYC Office’s point of contact with Financial Crimes, second line and third line to build and iterate on controls.
Facilitate both gap and root cause analysis (RCA) exercises between Legal, Compliance, Operations, Technology, Risk and the line of business in order to create action plans that provide resolution and ensure policy adherence Manage the initial and ongoing communication, escalation, and resolution process through standardized communication routines and tools Monitor and report on the KYC Office’s risk-related activities.

· Ensure first line compliance with all relevant Financial Crimes regulations, standards, and policies.

· Manage execution of KYC policy related Corrective Action Plans (CAP) which Includes managing CAP milestones and execution timelines

· Provide updates to all levels of senior management on issues and remediation plans related to areas of concern

· Collaborate with multiple compliance groups, business teams, technology and infrastructure teams to identify the root cause and create action-plans for resolution

· Champion efforts to get project requests drafted to resolve gaps to ultimately retire manual workarounds

· Champion efforts to get project requests drafted to resolve gaps to ultimately retire manual workarounds

· Partner with the project group to get the project requests prioritized in a sensible and risk/client based manner

· Manage action items for the issues management workstream by timely follow-up and coordination between multiple stakeholder groups to bring each project to closure

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 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 with 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 $180,000 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.