Vice President, U.S. Banks 1st Line Business Risk

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments — Institutional Securities, Wealth Management (WM), and Investment Management. Our Financial Advisors focus on delivering timely, customized solutions and services that help clients meet their financial and life goals. Our offering includes brokerage and investment advisory services, financial and wealth planning, access to credit and lending, deposits and cash management, annuities and insurance, and retirement services.

As a market leader, the talent and passion of our people is critical for our success. Together, we share a common set of values rooted in doing the right thing, putting clients first, leading with exceptional ideas, commitment to diversity and inclusion and giving back. Morgan Stanley can provide a superior foundation for building a professional career – a place to learn, achieve and grow.

The Vice President position is with the Transactions with Affiliates Office in U.S. Banks 1st Line of Defense Business Risk team. The team has responsibility for the implementation of the Banks’ Regulation W compliance monitoring program. As a Vice president, you will join a team of risk professionals from diverse range of backgrounds and experience who collectively ensure that the Firms Transactions with Affiliate Policy/Framework is implemented and functions well.

The role will be based in New York City, New York.

Responsibilities

·       Primary liaison and Act as a Regulation W subject matter expert (SME) in the U.S. Banks 1st line of defense Business Risk Transactions with Affiliates team, which oversees compliance with affiliate transactions under Sections 23A and 23B of the Federal Reserve Act.

·       Partner closely with business units to assess transactions with affiliates and review that effective controls are in place to comply regulatory requirements.

·       Review proposed affiliate transactions Reg W compliance, review for adherence with statutory quantitative limits, collateral, and market terms requirements in accordance with the Banks’ policies and procedures.

·       Assist with daily monitoring of Regulation W quantitative limits. Coordinate with technology and data teams to ensure integrity and transparency to tracking and reporting of inter-affiliate transactions.

·       Analyze transactions between the Banks and its affiliates; identify issues, facilitate timely resolution, and retain appropriate documentation which evidence issue disposition.

·       Work with Business Units, on new business initiatives to identify potential Reg W obligations and associated controls.

·       Support business units with developing and updating their Reg W procedures.

·       Identify process gaps or control weaknesses which may impact Reg W compliance, drive remediation efforts in collaboration with business partners, Bank Legal, Compliance and Operational Risk teams.

·       Coordinate the U.S. Banks’ Reg W Internal Audit and Second Line of Defense audit and testing activities, respectively.

·       Partner with Regulatory Relations, management, and other stakeholders to coordinate Reg W examinations and other regulatory engagements and inquiries.

·       Compile data and prepare internal reporting related to Reg W affiliate transactions, including management reporting.

Qualifications:

·       A bachelor’s degree in finance, Accounting, Business, or a related field is needed; advanced degree (MBA, JD or similar) preferred.

·       8+ years of experience in the financial services, preferably in risk management, regulatory compliance.

·       Strong knowledge of Regulation W (Sections 23A and 23B of Federal Reserve Act) and its application with