Director - Operations Risk and Control - Firmwide Operations - Morgan Stanley - New York

Job description

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 grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Firmwide Operations:

Firmwide Operations includes Shared Services and Banking Operations (SSBO), Operations Risk and Control, Global Project Group and Metrics, Branch Operations and Divisional Management. SSBO provides utility processing services to Global Operations. By functionalizing processes across segments, SSBO realizes efficiencies through scale, location strategy and adoption of best practices. SSBO provides quality operational core processes at an optimal price point, with maximum benefit to Morgan Stanley business lines. Services currently provided by SSBO include Cash Management, OTC Derivative and Security Settlements, Position Services, Reconciliations, Tax, Network Management and Vendor Management.

Operations Risk and Control ensure adequate controls are in place, through providing an integrated risk and control framework to govern, assess, mitigate and manage financial and operational risk in Operations.

Job Description:

The Regulatory Operations Director role is responsible for supervising the Operations processing related to the US net capital rule and US customer protection rule. This person will be part of a team that works closely with Senior Management of Morgan Stanley & Co. LLC and senior managers across Operations, Technology, Finance and Compliance. It is expected that this person be familiar with and support the maintenance of regulatory expectations in each jurisdiction where MS has branches. In addition, this person will contribute to the regulatory reporting framework project team.

Primary Job Responsibilities:

- Ensure the uniform net capital calculation (SEC Rule 15C3-1) from an Operations perspective. This includes supporting the production of the Financial and Operational Combined Uniform Single Report (FOCUS).
- Ensure the components of the customer protection process (SEC Rule 15C3-3) from an Operations perspective are valid. This includes both possession or control and reserve requirement calculation/ process.
- Support the regulatory reporting regional strategy project.
- Maintain and develop regulatory knowledge to serve as a subject matter expert and central point of contact for operations regulatory advice and interact with regulators as needed to provide information and responses.
- Develop and maintain effective partnerships with all stakeholders on regulatory related issues.
- Manage, escalate, track and ensure resolution on issues that pose operational regulatory risk to the bank.
- Support the development of programs and execute reviews on operational controls and the effectiveness of meeting operational regulatory expectations.
- Support systemic process and programs developed to address regulatory requirements.
- Identify and contribute to operational risk projects related to strategic business initiatives.

Other Responsibilities:
- Partner directly with the Operations and Technology partners to define the future state and execution strategy of their respective area/group.
Promote a culture of accountability and control. Drive understanding, search for lessons to be learned.
- Proactively explore tactical and strategic solutions to close identified control gaps, working with other groups as appropriate.
- Ensure existence of mitigating controls and constantly question procedures, checklists and reports to ensure that they are current and accurate.
- Challenge assumptions, enforce consistent standards and champion new ideas.
- Exercise judgment and know when it is appropriate to challenge and say no; not compromise control to comply with requests.
- Convey trust and confidence through attitude and knowledge of products and services.
- Manage expectations in regards to timing and budget and effectively manages business priorities.
- Promote a culture of control and integrity.
- Manage people to goals and evaluates performance against goals.
-Coach and develop people, even those outside their team through mentoring.
- Support and participate in appropriate training.

Qualifications

Required Qualifications:
- An undergraduate degree in business, finance, other related fields.
- 5 years of related experience in the banking industry.
- Material experience with operational risk disciplines; processes, risks and controls and familiarity with accounting systems/processes.
- Strong leadership, and project management skills and ability to manage many competing priorities.

- Familiar with SEC Rule15c3-3.
- Highly motivated individual with outstanding record of professional achievement.
- Strong interpersonal skills and ability to communicate effectively in both oral and written form.
- Technical skills in various Microsoft Office Tools (particularly Access, Excel, Visio, Project and PowerPoint).

Desired Qualifications:
- Legal, Business, Accounting or Finance related postgraduate degree desired.
- Prior experience in a federal regulatory agency with experience in operational risk, modeling or information technology, or legal experience on a broad array of regulatory operations issues.

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