Path to Advice Business Control Unit AVP – Client Segment Risk

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 ethics. 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.

The Path to Advice Business Control Unit (BCU) is a first line of defense risk function responsible for overseeing risks and controls for the Path to Advice business unit within Wealth Management Client Segments. A key part of this role is to serve as a risk advisor to Path to Advice, partnering closely with leadership to identify, assess, and help mitigate key risks. The individual will support business strategic initiatives by delivering clear, actionable guidance on risk implications, control considerations, and governance expectations, while helping teams make well-informed decisions that align with the firm’s risk appetite.

The BCU team also works with business stakeholders and other control partners including second and third lines of defense to continually monitor and assess risk. BCU engages in risk analysis of process, control or business model changes and active updating of the businesses’ Non-Financial Risk Assessment (NFRA). Other functions core to the BCU team include but are not limited to policies and procedure reviews, managing internal audit and compliance exams, incident and escalation reporting, lessons learned reviews, risk assessment of strategic and other business initiatives, business continuity plan support, and data analytic deep dives.

The successful candidate will be adaptable in a dynamic environment, with demonstrated risk and control experience, strong strategic thinking, and clear communication skills to monitor existing and emerging risks and drive improvements to the business’s risk management practices.

Primary Responsibilities include but are not limited to:

• Support expanding strategic initiatives / new capabilities requiring upfront risk assessment and control design
• Maintain continuous 1LoD coverage for Path to Advice control obligations
  • Provide 1LoD risk sign-off / credible challenge for process changes, new initiatives, and control design
• Lead end-to-end exam/audit readiness for assigned coverage area
  • Assure coordination across all three lines of defense throughout lifecycle
  • Guide business partners in identifying, understanding and self-disclosing risks and defining subsequent action plans for remediation
  • Coordinate Document Request Lists and ensure timely delivery of requests
  • Schedule/Coordinate walkthroughs with various stakeholders
  • Review audit reports and findings for accuracy
  • In coordination with the business, develop appropriate Action Plans
  • Track issues and action plans for remediation and ensure timely completion

• Own and maintain the business’s NFRA risk/control inventory ensuring evidence is audit-ready and aligned to current process/control design
• Manage operational risk incidents, remediate as necessary, and complete root cause analysis as required
• Support required reviews and updates of Policies and Procedures (P&Ps)
• Update Business Continuity Plans (BCP) and Business Impact Assessments
• Produce periodic operational risk reporting (KRIs/KPIs, incident themes, control health) for business leadership
• Participate in relevant workgroups and provide risk support and assessment on new business initiatives, changes in business model or processes and controls
• Support business in managing Artificial Intelligence use cases

To be successful in this role, the candidate will need to: 

• Be a self-starter that can quickly develop comprehensive knowledge of all aspects of the Morgan Stanley Path to Advice business line, and connectivity to other parts of the organization
• Manage multiple deliverables which can sometimes be ad-hoc and unanticipated requests, so a successful candidate must be able to work in an environment with evolving priorities, making sound decisions about prioritization, and communicating immediately where there are real risks to on-time delivery