Morgan Stanley
Non-Financial Risk Enterprise Operational Risk Testing Officer
Morgan Stanley, Baltimore, Maryland, United States, 21276
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.
Non-Financial Risk Organization Overview:
The second-line Non-Financial Risk NFR" organization includes the Compliance, Global Financial Crimes, and Operational Risk departments and provides a single, comprehensive, and consistent second-line view of these non-financial risks. Non-Financial Risk encompasses risks which are not financial in nature, and could have a potential economic, reputational, regulatory, financial reporting, or client impact from (i) failed or inadequate processes, data, or controls; ii) infrastructure or environmental factors; or iii) intentional or inadvertent actions of employees or external parties. The second line NFR organization partners with the first-line business units to advise, train, manage, report, identify, analyze, and escalate non-financial risks.
Team Overview:
Non-Financial Risk Enterprise Operational Risk Testing is one of a variety of assurance activities that is employed by second line NFR to assess first line controls. Top operational risk areas for testing include, but are not limited to: Fraud, Third Party, Business Continuity & Disruption, etc.
Role Overview:
The candidate will join the department as a member of the Enterprise Operational Risk Testing team and will perform design and operating effectiveness testing as well as perform duties as a Test Manager. This role will require in office attendance of 3 days/week.
Primary Responsibilities:- Proactively lead and execute Non-Financial Risk Operational Risk testing to review and assess the effectiveness of the Firm's policies and procedures, including recommending corrective action plans for gaps identified from testing. The testing process includes test execution (via interviews, process walkthroughs, observations, re-performance of key controls, etc.)- The testing process responsibilities include:- Planning: Reviewing background information on regulatory and policy requirements, reviewing relevant procedures, and processed, identifying the key controls to be tested, and determining appropriate testing approaches (e.g., sampling methodologies)- Execution: Performing fieldwork, reviewing relevant transactions and/or data, evaluating controls and assessing compliance with rules, regulations and Firm policies and procedures- Workpaper Maintenance: Detailed documentation of fieldwork, including testing parameters, activities, and findings in the testing work paper system, in accordance with the Firm's testing standards- Reporting: Engaging stakeholders on findings, preparing test reports, and collaborating on corrective action plans- Closure Verification: Confirming and tracking remedial action plans to completion and re-testing the relevant processes, where needed- Track status of corrective action plans agreed upon with the business.- Remain current on industry rules, regulations and best practices to make recommendations to the testing program.- Develop and maintain effective working relationships with the business units as well as internally within the Legal, Compliance, and Operational Risk Department.- Manage and supervise a team of Operational Risk testers on the execution of the annual test plan as well as the identification of controls and issues.- BA/BS required with a concentration in Accounting or Finance a plus.- 7-9 years Compliance/Audit/Risk experience in the financial services industry, a regulator, or a self-regulatory organization.- Investigative skills - inquiry and analysis, interviewing, testing, risk assessment capabilities.- Ability to research and resolve issues independently while working across teams to acquire information.- Risk Management Knowledge - strong understanding of financial industry risk and control and the ability to critique relevant language.- Strong analytical, organizational, and problem-solving skills.- Ability to prioritize and work effectively on multiple reviews with different individuals at the same time.- Ability to work independently, as well, as in a team.- Strong verbal and written communication skills- High degree of organization and attention to detail.- Proficiency with Microsoft Word, Excel, PowerPoint, Adobe, SharePoint, Bloomberg, and ability to quickly learn automated systems.
For Baltimore, expected base pay rates for the role will be between $112,000 and $177,000 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.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
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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.
Non-Financial Risk Organization Overview:
The second-line Non-Financial Risk NFR" organization includes the Compliance, Global Financial Crimes, and Operational Risk departments and provides a single, comprehensive, and consistent second-line view of these non-financial risks. Non-Financial Risk encompasses risks which are not financial in nature, and could have a potential economic, reputational, regulatory, financial reporting, or client impact from (i) failed or inadequate processes, data, or controls; ii) infrastructure or environmental factors; or iii) intentional or inadvertent actions of employees or external parties. The second line NFR organization partners with the first-line business units to advise, train, manage, report, identify, analyze, and escalate non-financial risks.
Team Overview:
Non-Financial Risk Enterprise Operational Risk Testing is one of a variety of assurance activities that is employed by second line NFR to assess first line controls. Top operational risk areas for testing include, but are not limited to: Fraud, Third Party, Business Continuity & Disruption, etc.
Role Overview:
The candidate will join the department as a member of the Enterprise Operational Risk Testing team and will perform design and operating effectiveness testing as well as perform duties as a Test Manager. This role will require in office attendance of 3 days/week.
Primary Responsibilities:- Proactively lead and execute Non-Financial Risk Operational Risk testing to review and assess the effectiveness of the Firm's policies and procedures, including recommending corrective action plans for gaps identified from testing. The testing process includes test execution (via interviews, process walkthroughs, observations, re-performance of key controls, etc.)- The testing process responsibilities include:- Planning: Reviewing background information on regulatory and policy requirements, reviewing relevant procedures, and processed, identifying the key controls to be tested, and determining appropriate testing approaches (e.g., sampling methodologies)- Execution: Performing fieldwork, reviewing relevant transactions and/or data, evaluating controls and assessing compliance with rules, regulations and Firm policies and procedures- Workpaper Maintenance: Detailed documentation of fieldwork, including testing parameters, activities, and findings in the testing work paper system, in accordance with the Firm's testing standards- Reporting: Engaging stakeholders on findings, preparing test reports, and collaborating on corrective action plans- Closure Verification: Confirming and tracking remedial action plans to completion and re-testing the relevant processes, where needed- Track status of corrective action plans agreed upon with the business.- Remain current on industry rules, regulations and best practices to make recommendations to the testing program.- Develop and maintain effective working relationships with the business units as well as internally within the Legal, Compliance, and Operational Risk Department.- Manage and supervise a team of Operational Risk testers on the execution of the annual test plan as well as the identification of controls and issues.- BA/BS required with a concentration in Accounting or Finance a plus.- 7-9 years Compliance/Audit/Risk experience in the financial services industry, a regulator, or a self-regulatory organization.- Investigative skills - inquiry and analysis, interviewing, testing, risk assessment capabilities.- Ability to research and resolve issues independently while working across teams to acquire information.- Risk Management Knowledge - strong understanding of financial industry risk and control and the ability to critique relevant language.- Strong analytical, organizational, and problem-solving skills.- Ability to prioritize and work effectively on multiple reviews with different individuals at the same time.- Ability to work independently, as well, as in a team.- Strong verbal and written communication skills- High degree of organization and attention to detail.- Proficiency with Microsoft Word, Excel, PowerPoint, Adobe, SharePoint, Bloomberg, and ability to quickly learn automated systems.
For Baltimore, expected base pay rates for the role will be between $112,000 and $177,000 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.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
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