Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 26 days ago
Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management, and Asset Management. Morgan Stanley’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. 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 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.
The Wealth Management Anti-Money Laundering Risk (WM AML Risk) team is embedded within the Firm’s business line. It is responsible for identifying, assessing and escalating potential money laundering and reputational risks associated with higher risk client types. The AML Risk team is considered to be in the First Line of defense and supports the onboarding, client due diligence, enhanced due diligence and negative news processes for Morgan Stanley.
The WM AML Risk Assistant Vice President (AVP) is a part of the WM AML Risk EDD team and responsible for overseeing risk-relevant activities related to AML. The AML Risk AVP will assess Bank Secrecy Act (BSA), money laundering and reputational risk matters identified through the execution of the Firm’s Enhanced Due Diligence (EDD) protocols for both new and existing customers. In addition, the AML Risk AVP will have ultimate responsibility for the escalation of issues or risks related to these processes.
The WM AML Risk AVP - EDD will:
• Lead and perform processessupporting Wealth Management’s EDD program; conduct EDD reviews
• Assist in overall management of risk-relevant matters associated with prospective clients identified by the First Line Unit during Client Due Diligence (CDD) and EDD processes to ensure continued knowledge of the existing client base and any material changes to client information
• Actively identify, measure, control and remediate money laundering and reputational risk issues with partners in Global Financial Crimes Compliance and the Business Unit
• Partner with the WM Business Units, including International Wealth Management, Field Strategic Services, and WM Risk, to ensure appropriate adherence to CDD and EDD processes while providing a positive client experience
• Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to onboard new and existing WM client relationships
• Lead key projects and initiatives related to assessing and mitigating Wealth Management’s exposure to money laundering, reputational risks, and client experience impacts
• Manage implementation of internal policies, provide periodic risk relevant reporting to senior stakeholders and make recommendations to improve procedures governing AML-related activities
• Provide general supervisory support for WM AML Risk Analysts and serve as their point of contact for questions, issues and escalations
• Have 5+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.)
• Have an undergraduate degree in Business, Finance, or other related field
• Foreign Language skills, fluent in Spanish or Portuguese is a plus
• Working knowledge of MS Office suite
• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus
• Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Ability to work in a high volume, fast paced environment
• Ability to work on manage multiple tasks and appropriately prioritize in conjunction with managing the day-to-day processes
• Ability to work both independently and with team members, under tight deadlines
• Ability to work in a matrixed organization; leveraging resources across the organization to complete deliverables
• Ability to handle highly confidential information professionally and with appropriate discretion
• Be capable of assessing and developing individual and team skills and providing timely constructive feedback