Financial Crimes Risk Enhanced Due Diligence Assistant Vice President

Financial Crimes Risk Assistant Vice President

Morgan Stanley ("MS") is a global financial services firm that conducts its business through three principal business segmentsInstitutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services. The WM and U.S. Banks Financial Crimes Risk Assistant Vice President (AVP) is part of Wealth Management and the Morgan Stanley Private Bank, National Association and the Morgan Stanley Bank, NA (collectively, the "U.S. Banks") on the WM and U.S. Banks Financial Crimes Risk Team.

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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career a place for people to learn, achieve, and grow.

Department Profile

The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm's business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The AML Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.

Responsibilities

The Financial Crimes Risk AVP will be responsible for overseeing due diligence and risk-relevant activities related to AML. The Financial Crimes Risk AVP will assess Bank Secrecy Act (BSA), anti-money laundering, and reputational risk matters identified through the execution of the Firm's protocols for both new and existing customers. This primarily includes reviewing, assessing and, where necessary, escalating certain clients' source of wealth to examine potential money laundering and reputational risk exposure for the Firm. Source of wealth encompasses the business, employment, or other activities that have contributed to the total worth of an individual or entity. In addition, the Financial Crimes Risk AVP will have ultimate responsibility for escalating risk issues related to these processes with a particular focus on reviewing certain new and existing clients' source of wealth.

The Financial Crime Risk AVP will :

• Manage the end-to-end workflow of a program focused on assessing the source of wealth of new and existing clients to effectively mitigate potential money laundering risk exposure, including but not limited to :
• Actively managing and leading processes supporting the Firm's customer due diligence (CDD) and enhanced due diligence (EDD) program with a specific focus on source of wealth analysis and corroboration.
• Act as the primary contact for the Financial Advisor team and manage ongoing outreach and engagement.
• Assist pipeline management and overall engagement with the Business Unit, Technology, and Second Line of Defense Global Financial Crime partners.
• Manage data and trend analysis related to the source of wealth review process and providing reporting to relevant stakeholders.
• Perform financial crime risk reviews of MSPBNA products and services.
• Serve as a point of contact for questions, issues and escalations related to the review of certain clients' source of wealth.
• Review and respond to monthly quality control findings related to the source of wealth review process.
• Provided supervisory support and subject matter expertise, training, and guidance to Financial Crime Risk Analysts.
• Support updates to procedures and desktop guidance related to the client onboarding process.
• Assist and lead key projects and initiatives related to assessing and mitigating the Firm's exposure to money laundering and reputational risk-relevant activities.
• Partner with business partners involved in the account opening process; and
• Partner with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis.

Qualifications

Have 5+ years of relevant experience with BSA / AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.); Have a bachelor's degree in business, Finance, or other related field; Experience focused on examining potential clients' source of wealth during the client onboarding process; Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements; Strong interpersonal skills and ability to communicate effectively both verbally and in writing; Working knowledge of MS Office; Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity Ability to : take initiative, analyze, summarize, and communicate effectively; investigate, identify issues, impacts and trends to propose comprehensive solutions; multitask effectively and action matters promptly; work independently and in a team environment; handle highly confidential information with appropriate discretion; work in a high volume, fast paced environment; and work in a matrixed organization; leveraging resources across the organization to complete deliverables.

Skills Desired

Expertise in examining potential clients' source of wealth during the client onboarding process; and / or Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification / license is a plus.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY :

We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 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.

Expected base pay rates for the role will be between $100K-$135K 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.