Vice President - Fraud Risk (Operational Risk)

Education Level: Bachelor's Degree

Job Level: Vice President

Description

Morgan Stanley

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.

The talent and passion of our people is critical to our continued success as a firm. Together, we share four core values rooted in integrity, excellence and strong team ethic:

• Putting Clients First
• Doing the Right Thing
• Leading with Exceptional Ideas
• Giving Back

Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.

Firm Risk Management

Firm Risk Management (FRM) enables Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.

Our mission is to serve as the follow roles:

• Independent agent to set consistent principles and disciplines for risk management
• Strategic advisor to Firm management for setting risk appetite and allocating capital
• Industry leader to influence and meet regulatory standards

You will collaborate with colleagues across FRM and the Firm to protect the Firm’s capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.

Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.

• Firm Risk Management’s unique franchise promotes:
• Flat, flexible and integrated global organization
• Collaboration and teamwork
• Credible, independent decision-making
• Organizational influence
• Creative and practical solutions
• Meritocratic and diverse culture

Location

The Morgan Stanley Baltimore office is a critical component of the Firm`s Global footprint and has 1,400 employees that provide support and services to the Investment Banking, Securities, Investment Management and Wealth Management Businesses.

Our office at Thames Street Wharf is located in the heart of Baltimore’s Inner Harbor. Additionally, the Firm recently expanded downtown and occupies two floors at 100 South Charles in the new, up and coming neighborhood of Harbor Point, adjacent to historic Fells Point.

Position Description

Morgan Stanley is seeking a dynamic and high performing Vice President to play a critical role within the Operational Risk Department to support the Firm in oversight and challenge of risk mitigation of internal and external Fraud. The successful candidate will be responsible for helping to execute independent oversight, analysis, and monitoring of risks and controls around the Firm’s Anti-Fraud program. In addition to anticipated daily oversight, challenge, coverage and incident review, the individual will play a critical strategic role in supporting the mitigation of fraud. There is a need to drive evolution and transparency of the underlying control framework, support adoption of industry leading practices and technologies, and introduce new controls and processes to bolster the existing fraud mitigation framework.

Operational Risk refers to the risk of financial or other loss, or potential damage to a firm’s reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and comprehensive program for managing operational risk, both within each area and across the firm globally. This group designs, implements and monitors the company-wide operational risk program.

Responsibilities include:

• Drive second line oversight and challenge of Fraud Risk across businesses, including representing the Fraud Risk function on associated Fraud Risk
• Drive second line oversight and challenge of Fraud Risk across businesses, including representing the Fraud Risk function on associated Fraud Risk Oversight Committee sub-committees;
• Support transparency and evolution of the overarching Framework through thought leadership and proactive challenge of fraud identification, prevention and detection controls and processes, and metrics;
• Collaborate with and also challenge first line in the design, configuration and implementation of mitigating tools and surveillance capabilities, as appropriate.
• Own monthly and quarterly risk management reporting of Fraud-relevant data;
• On-going communication with all business lines, as well as Fraud Operations, Fraud Technology and supporting functions
• Support review of incidents, risk and control assessments, management information, conformance activities etc. for Fraud Risk
• Manage the review and challenge function of the segregation of duties program, including reviewing exceptions, participating in SOD working groups, etc.

Qualifications

Skills Required

• Eight to twelve years of financial services experience, including exposure to Fraud Risk mitigation disciplines and techniques
• Knowledge of fraud threats and schemes desirable
• Technical understanding of fraud technology, including authentication and identity verification tools, and surveillance and analytics tools
• Sound knowledge of relevant Wealth Management, Banking, Financial Holding Company and securities regulations
• Strong technical understanding of wealth management, investment management, and institutional trading products, solutions and services, channels and associated technologies, including digital platforms
• Strong risk, process and control validation and/or assessment skills - a prior role within consulting or internal audit covering risk processes is desirable
• Strong communication, analytic, risk management, and program management skills
• Demonstrated ability to collaborate across multiple functional areas while maintaining suitable independence and effective challenge
• An undergraduate degree (B.A., B.S., or equivalent) required
• Exposure to Qlikview, Tableau or other BI capability desirable
• Strong MS Powerpoint and MS Excel skills desired

For further information, and to apply, please visit our website via the “Apply” button below.