We're seeking someone to join our team as the Deposits Advisory Officer in the U.S. Banks Non-Financial Risk on our Deposits Compliance team to support the rapidly growing deposit products.
In the Legal & Compliance division, we assist the Firm in achieving its business objectives by facilitating and overseeing the Firm's management of legal, regulatory and franchise risk. This is a Vice President level position within the U.S. Banks Consumer Banking & Lending Compliance Team, which is responsible for mitigating risks to the Banks related to its suite of brokered and retail deposit products across various platforms. This is achieved through advice and guidance to business units, ongoing monitoring, development of policies, procedures and training, support of testing, complaints and core teams. Product types include, retail checking and savings, brokered sweeps, brokered ticketed savings and bespoke products.
What you'll do in the role:
- Serve as Subject Matter Expert in providing compliance advice, guidance, and challenge to the Deposits businesses on the U.S. Banks with respect to banking rules and regulations;
- Serve as Subject Matter Expert in providing compliance advice and guidance related to product development and distribution initiatives identifying compliance risk;
- Monitor and implement updates for key deposit regulations;
- Support the creation, maintenance, and revision of existing and new policies and procedures relating to banking rules and regulations;
- Conduct targeted ongoing monitoring (Reg E, Reg DD, Reg CC, etc.) to identify regulatory violations and control breaks resulting in consumer harm;
- Work with business partners to perform tactical or strategic remediations to identified violations and breaks as necessary;
- Represent Bank Compliance in compliance matters across lines of defense
- Work with marketing partners to review marketing collateral against regulatory rules and UDAAP risk;
- Provide input to Compliance-related KRIs and dashboards
- Support the development of and conduct compliance trainings for relevant employees
- Conduct compliance risk assessments on the businesses covered and contribute to the development of the Annual Compliance Plan
- Support the Bank Compliance testing team with their reviews of regulations
- Analyze compliance requirements for New Product Approvals and coordinate with relevant stakeholders in ensuring controls are established to mitigate compliance risk What you'll bring to the role:
- Bachelor's degree required; MBA or JD preferred
- CRCM preferred
- 8 or more years of compliance and/or regulatory experience with knowledge of the financial services industry, regulatory requirements, and experience in analyzing business risk and best practices
- Knowledge of banking regulations from OCC, CFPB, and Federal Reserve, and how they apply to bank products; with demonstrated experience in key deposit regulations, including Regulation DD (Truth in Savings Act), Regulation E (Electronic Fund Transfers), Regulation CC (Availability of Funds), Regulation D (Reserve Requirements), UDAAP (Unfair, Deceptive or Abusive Acts or Practices Act). Also knowledge of operational rules (e.g. NACHA) preferred.
- Ability to discuss and explain how regulations apply to certain products
- Highly organized and detail-oriented with strong analytical skills
- Organizational skills to manage multiple projects and ability to work independently in a fast-paced environment
- Be able to weigh risks with business development, coordinate amongst multiple teams and challenge partners when necessary
- Strong interpersonal and teamwork skills, as well as excellent oral and written communication skills
- Strong client-relations skills and ability to partner with clients to develop practical solutions that meet business needs while remaining compliant with applicable laws and regulations
- Able to perform analysis and problem identification, determine solutions and best execution and able to work under specific deadlines
- Excellent oral, written and analytical skills
- Strong work ethic and drive
- Strong sense of integrity and ethical leadership
- Strong team-orientation
Please note that the location listed for this role is temporary. The position’s work location will transition to 1445 Ross Ave, Dallas, TX 75202 at a future date. In-Person interviews will be required for the role.
Expected base pay rates for the role will be between $108,000 and $162,000 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.
