The Conduct, Controls & Governance team within Wealth Management Client Segment Risk is responsible for the oversight of scams and exploitation risk and internal fraud.
Regarding scams, the team creates processes and controls to detect and prevent client who distribute funds outside the firm at the behest of third parties in furtherance of scams.
Regarding exploitation, the team supports the business in addressing the risks associated with vulnerable clients with a focus on senior clients, including reporting to various governmental authorities.
Regarding internal fraud, the team in coordination with multiple key first and second line stakeholders performs analysis of internal fraud incidents to identify areas for possible control and process enhancements, among other functions.
WM Client Segment Risk’s Conduct, Controls and Governance team is hiring a VP to lead its Scams and Exploitation Risk Team (SERT) and Internal Fraud
Primary Responsibilities
Strategy: Roadmap & Program Direction
- Define and execute the strategic roadmap for the SERT and Internal Fraud programs.
- Evaluate emerging risks, regulatory developments, industry practices and technology solutions to inform program direction.
- Prioritize initiatives that improve client outcomes, reduce inefficiencies and strengthen the control environment.
Technology: Tools, Automation & Delivery
- Own the technology book of work supporting SERT
- Partner with Technology, Data (Machine Learning), AI, and Operations teams to further enhance our capability of detecting and preventing risks related to SERT and Internal Fraud.
- Drive adoption of automation, analytics, artificial intelligence, and workflow tools.
Governance & Process: Thresholds, Escalation, Oversight & Quality Assurance
- Design and enhance governance frameworks supporting SERT and Internal Fraud activities.
- Establish where necessary risk tolerance thresholds and escalation protocols.
- Use data analytics and trend reporting to identify themes and resource prioritization opportunities.
- Strengthen engagement with first-line partners, second-line partners, and senior stakeholders.
- Identify control gaps and oversee remediation efforts.
Qualifications
- 10+ years of experience in risk management, fraud, financial crimes, compliance, investigations, operational risk, controls, or a related discipline.
- Demonstrated experience leading risk mitigation strategic initiatives.
- Strong understanding of control design.
- Proven ability to build relationships and influence stakeholders across multiple functions and levels of seniority.
- Strong analytical, strategic thinking, and problem-solving capabilities.
- Excellent written and verbal communication skills, including the ability to present to executive leadership.
- Experience working with data analytics, workflow automation, AI, or technology-enabled risk solutions preferred.
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. 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. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
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Expected base pay rates for the role will be between $115,000 and $190,000 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.
