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U.S. Banks Risk Self Assessment Operational Risk Associate

Morgan Stanley

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New York, NY, USA

Posted on Aug 22, 2024

Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions, and individuals around the world achieve their financial goals

We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect, and cross-collaboration. Our firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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

The 1LOD Bank Risk team supports the Banks' BUs by providing guidance across NFR stipes including 1LOG Risk Governance, Ops Risk, (including Third Party and Affiliate Management) Regulatory Affairs and Audit support, Model and Data Risk. The quarterly RSA is one of the ways the BUs evidences their risk monitoring.

Continuous improvement of RSA process whilst executing quarterly PBNA & BNA risk assessment working with BCUs/DBRs and the 2LOD.

About the Role:

1) Aggregate the data required to prepare the data packs that are used in the quarterly RSAs. Data is pulled from systems and metric owners which requires strong communications and ability to work with a variety of people.

2) Assist in the facilitation of the Risk & Control Self-Assessment framework for the US Banks

3) Provide support for the quarterly Business Unit Risk Assessment process in monitoring the quantity of risk, quality of risk management, and aggregate risk in accordance with the US Banks Risk Governance framework

a. Relationship Building - interact across the BUs, BCU/DBRs, 2LOD and IA

b. Excel and PowerPoint skills required to provide data necessary to BUs

c. Communications - tailor messaging, facilitate meetings across depts and levels

d. Writing Skills - draft procedures, policies, memos etc. as needed

4) Support inclusion of Risk Appetite Statement (RAS) and related metrics in data pack

a. Insert RAS into quarterly RSA as a reference and touchpoint for RSA results

Experience:

• Bachelor’s degree in Finance, Business or other related field
• 3+ years of relevant experience in operational risk management, compliance or audit.
• Experience in risk analysis within the financial services industry, and understanding of Operational Risk banking regulatory requirements, is a plus.
• Ability to analyze a function, process, or transaction, and identify the key risks and controls within it.
• Excellent verbal and written communication skills, including PowerPoint/presentation skills and the ability to influence and interact with senior members of the Bank.
• Strong interpersonal skills – Ability to freely develop networks, build consensus, prioritize effectively, and develop alliances across organizations.
• Strong sense of ownership and accountability; is willing to be fungible and has an entrepreneurial spirit
• Ability to work in a fast paced environment, both independently and as part of a team, and under tight deadlines.
• Interpersonal skills, freely develops networks, builds consensus, prioritizes effectively, and develops alliances across organizations

Expected base pay rates for the role will be between $70,000 and $100,000 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.

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).

This job is no longer accepting applications

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U.S. Banks Risk Self Assessment Operational Risk Associate