Global Financial Crimes: Bank AML Advisory Professional
Less than 5 years experience • Accounting, Finance & Insurance
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 to grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Global Financial Crimes (GFC) coordinates day-to-day implementation of the Firm’s enterprise-wide financial crime prevention efforts. GFC includes several legal and compliance disciplines and has responsibility for governance, oversight and execution of the Firm’s Anti-Money Laundering (AML), Economic Sanctions, Anti-Corruption and Government and Political Activities Compliance programs. GFC also develops and/or assists in the development of appropriate policies and procedures, including those designed to assist the business units to know their clients and conduct appropriate due diligence and to prevent, detect and report potentially suspicious activity. GFC has dedicated coverage managers and teams of analysts who advise and counsel each business unit regarding its AML, economic sanctions and anti-corruption obligations and its particular clients and transactions.
Background on the Role
The Bank AML group focuses on the anti-money laundering obligations associated with the Firm’s Bank entities, Morgan Stanley Bank, N.A. and Morgan Stanley Private Bank, National Association. The group is responsible for escalations associated with AML-related issues and due diligence.
This role reports to the Deputy MLPO of the Bank AML Group and ultimately to the Morgan Stanley Bank, N.A. and Morgan Stanley Private Bank, National Association Head of Bank AML Oversight. The role does not have direct reports.
The Bank AML Advisory Professional will:
- Develop an understanding of Global Financial Crimes (“GFC”) Standards and Bank AML Policies, procedures, and processes in order to provide the MSBNA and MSPBNA First Line Unit Risk teams (“FLU Teams”) with guidance
- Provide risk ranking guidance to the FLU Teams and respond to risk ranking override and approval requests (of higher risk customers)
- Assist and provide guidance to the FLU teams with respect to true matches identified during the Enhanced Due Diligence and/or the Negative News pre-screening process; escalate items to the AML Investigations team and/or Bank AML Management
- Assist with UAT testing when new systems are implemented or when changes to existing systems are implemented by the Firm and/or Bank
- Assist in the review of Certificate of Deposit (“CD”) Distributors, including the review of Negative News and Regulatory Disclosures
- Assist in the preparation and review daily reports and coordinate with Bank FLU teams as it relates to client advisory decisions
- Assist in regular meetings relating to institutional clients (e.g. Foreign Bank Certification tracking meetings; Periodic Review Escalation meetings)
- Liaise with members of the AML Investigations team, the Bank Risk teams, and senior Bank AML Management
- Assist with other areas of the AML Program as needed (e.g. governance, Key Risk Indicator (“KRI”)/metrics reporting, internal audit requests, ad hoc projects)
- Assist with the drafting and tracking of targeted AML trainings to relevant Business Units and support areas
- Assist with the update of designated high risk clients to/from the Bank’s watchlist in the case management system
- Update and debrief senior Bank management on processes, issues and matters for escalation
Skills Required (essential)
Candidates must have:
- 4 year college degree with outstanding academic credentials
- 2-4 years of experience with Bank Secrecy Act/Anti-Money Laundering or OFAC regulations at a bank government agency (e.g., OCC, FRB, or FDIC) or in a regulatory, compliance, or internal audit capacity within the financial services industry; including providing advice on BSA, AML and OFAC issues
- Experience with Know Your Customer requirements including Customer Identification Programs, client due diligence and enhanced due diligence
- Excellent written and verbal communications skills, attention to detail and strong time management skills
- The ability to interact in a mature and professional manner with a variety of individuals
- The ability to effectively handle a fast paced environment and successfully meet established deadline requirements
- Ability to interact with branch and business unit personnel and be willing to receive and apply feedback on work product from supervisor(s)
- Certification as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license – or certification within 15 months of hire.
The ideal candidate will have:
- Experience with Office of the Comptroller (“OCC”) regulations and bank safety and soundness guidance provided by the Federal Financial Institutions Examination Council (“FFIEC”)
- Experience with mortgage, retail, institutional lending or FX businesses
- Familiarity with Microsoft Office Excel.